Company Overview - NOVONIX is positioned as a leading domestic supplier of battery-grade synthetic graphite in North America[32] - The company is commercializing patented cathode synthesis technology to minimize environmental impact while producing high-performance materials[32] - NOVONIX offers industry-leading Ultra-High Precision Coulometry cell testing equipment and R&D services[32] Market and Competition - China dominates graphite production and export, accounting for approximately 95% of global supply[42] - China has imposed and tightened export controls on certain graphite items[42] - The US faces a structural market deficit for traditional Active Anode Material (AAM), forecasted to exceed 500kt/year over the next decade[51] Industrialization and Production - NOVONIX's Riverside facility is scaling to 20k tpa aligned with customer demand[63] - The company was awarded a $100 million DoE MESC grant and allocated up to $103 million in 48C investment tax credit for the Riverside facility[63] - NOVONIX Enterprise South is expected to have a full production capacity of 31.5k tpa, bringing the company's total production capacity to over 50k tpa[68] Commercial Traction - NOVONIX has a 4-year commitment totaling 10,000 tonnes with Panasonic and a 5-year commitment for a minimum of 32,000 tonnes with PowerCo starting in 2027[72] - The company is currently sampling to 15 current and potential customers[72] - NOVONIX delivered its first mass production, commercial-grade sample of synthetic graphite for industrial applications[83]

Anode Materials - NOVONIX signed a binding offtake agreement with Stellantis for up to a target volume of 115,000 tonnes of high-performance synthetic graphite materials from 2026 through 2031[19] - NOVONIX signed a binding offtake agreement with PowerCo for a minimum of 32,000 tonnes of high-performance synthetic graphite materials to be supplied from 2027 through 2031[19] - NOVONIX has an offtake agreement with Panasonic Energy for 10,000 tonnes of synthetic graphite over 4 years, starting in 2025[37] - NOVONIX Enterprise South is expected to reach a full production capacity of 31,500 tonnes per annum by the end of 2028[52] - NOVONIX's existing Riverside facility has a capacity of 20,000 tpa, and together with Enterprise South, the company plans to have a total production capacity of over 50,000 tpa by 2028[52] Corporate & Financials - NOVONIX received US$3.8 million in reimbursements on the MESC Grant in Q4 and US$12.9 million for the full year 2024[20] - NOVONIX's quarter-end cash balance was US$42.6 million[20] - NOVONIX has a conditional commitment for a US$754 million loan from the U S Department of Energy for a new synthetic graphite manufacturing plant in Tennessee[11, 19] Cathode Technology - NOVONIX's cathode pilot line has a nameplate capacity of 10 tpa[59] Trade Case - Experts estimate dumping margins as high as 920% on Chinese exports of graphite[56] - China currently has over 95% market share for battery grade graphite[56]