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NOVONIX Secures US$754M DOE Loan and Major Offtake Deals to Boost U.S. Graphite Supply
12:00pm on Friday 31st of January, 2025 AEDT
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Battery Materials
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NOVONIX Secures US$754M DOE Loan and Major Offtake Deals to Boost U.S. Graphite Supply
12:00pm on Friday 31st of January, 2025 AEDT
Key Points
Conditional US$754 million loan commitment from U.S. Department of Energy for Tennessee graphite plant
Binding offtake agreements with Stellantis (up to 115,000 tonnes) and PowerCo (minimum 32,000 tonnes)
Planned production capacity expansion to over 50,000 tonnes per annum by 2028
Completion of equity raise totaling US$52.4 million to fund Riverside facility expansion
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