NOVONIX Ltd ( (AU:NVX) ) just unveiled an announcement.
NOVONIX Limited has received unanimous approval from the City of Chattanooga and Hamilton County to purchase a 182-acre parcel of land for its second mass production plant, Enterprise South, in Chattanooga, Tennessee. This facility is expected to reach full production capacity by 2028, creating 500 jobs and increasing the company’s total production capacity to over 50,000 tonnes per annum. The expansion aligns with NOVONIX’s strategic growth plans and commitment to local workforce development, further solidifying its presence in the battery materials industry. The company has also secured significant financial support from the U.S. Department of Energy and has binding agreements with major companies like Panasonic Energy, Stellantis, and PowerCo, highlighting its strong market positioning and future growth potential.
More about NOVONIX Ltd
NOVONIX is a leading battery technology company focused on revolutionizing the global lithium-ion battery industry with innovative and sustainable technologies. The company specializes in high-performance materials and efficient production methods, manufacturing battery cell testing equipment, and synthetic graphite materials. NOVONIX has developed a patented all-dry, zero-waste cathode synthesis process and holds a significant position in the electric vehicle and energy storage systems battery industry.
YTD Price Performance: -45.42%
Average Trading Volume: 134,477
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $162.1M
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