NOVONIX Secures Land for New Graphite Facility in Chattanooga
Deal News | Apr 30, 2025 | Globenewswire
NOVONIX Limited, a leading battery materials and technology company, has finalized a purchase and sale agreement to buy a 182-acre parcel in the Enterprise South Industrial Park in Chattanooga, Tennessee. With unanimous approvals from relevant local government bodies, the acquisition is valued at approximately $5 million and will support NOVONIX's expansion plans to build a second high-performance synthetic graphite facility. The new plant will have an initial production capacity of 31,500 tonnes per annum (tpa) and is expected to generate 450 to 500 new jobs in the region. Combined with its existing Riverside facility, NOVONIX's total production capacity in Chattanooga will exceed 50,000 tpa. The Company anticipates around $54 million in net tax benefits over 15 years from local authorities, conditional on securing a $754 million loan from the U.S. Department of Energy's Loan Programs Office. NOVONIX continues to strengthen community ties by partnering with local schools to prepare students for careers in battery technology.
Sectors
- Battery Technology
- Manufacturing
- Energy
- Education and Training
Geography
- United States – The article centers on NOVONIX's land acquisition and facility expansion in Chattanooga, Tennessee.
- Australia – NOVONIX is an Australian-based company, and references to its operations and stock exchanges feature prominently in the article.
Industry
- Battery Technology – The article discusses NOVONIX's expansion and investment in high-performance synthetic graphite for lithium-ion batteries, a key component in battery technology.
- Manufacturing – The article highlights the construction of a new manufacturing facility for synthetic graphite, contributing to the manufacturing sector.
- Energy – NOVONIX's focus on graphite production for batteries is integral to energy storage systems, linking the article to the broader energy industry.
- Education and Training – The company's collaboration with local schools for career-focused STEM education connects the article to the education sector.
Financials
- US$5 million – The purchase price for the 182-acre land at the Enterprise South Industrial Park.
- US$54 million – Expected net tax and other benefits from the City of Chattanooga and Hamilton County over 15 years, contingent on specific conditions.
- US$754 million – The value of a conditionally committed loan from the U.S. Department of Energy's Loan Programs Office.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| NOVONIX Limited | The Target company | Company | An Australia-based battery technology company focusing on high-performance materials and technology for lithium-ion batteries. |
| City of Chattanooga | Government | Government | Local government entity providing necessary approvals and incentives for NOVONIX's land acquisition. |
| Hamilton County | Government | Government | County government agency involved in providing approvals and economic incentives for the project. |
| Chattanooga Industrial Development Board | Government | Government | A local board involved in approving and supporting the land acquisition and subsequent industrial development. |
| U.S. Department of Energy | Loan Program Provider | Government | Federal government department offering potential loan assistance for NOVONIX's new facility subject to meeting conditions. |
| Lookout Valley Middle High School | Education Partner | Charity | Local school partnered with NOVONIX to provide battery industry educational programs via the Future Ready Institutes. |