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NOVONIX Ltd ( (AU:NVX) ) has shared an update.
NOVONIX has secured U.S. Government certification for US$103 million in Section 48C Advanced Energy Project tax credits tied to its Riverside synthetic graphite facility in Chattanooga, Tennessee. The certification underscores Washington’s view of NOVONIX as a key partner in developing a domestic synthetic graphite supply chain that supports long-term U.S. energy and economic security.
The company will receive the credits once the first 11,000 tonnes per annum of production are in service before April 2028, and it has the option to sell the credits to a third party, enhancing project financing flexibility. NOVONIX plans to continue advancing engineering, materials development, and financing for the Riverside project, positioning itself to scale its U.S. manufacturing footprint amid growing North American demand for battery materials.
The most recent analyst rating on (AU:NVX) stock is a Hold with a A$0.28 price target. To see the full list of analyst forecasts on NOVONIX Ltd stock, see the AU:NVX Stock Forecast page.
More about NOVONIX Ltd
NOVONIX Limited is a battery materials company focused on building a North American platform for critical battery materials, particularly high-performance synthetic graphite anode materials, from its headquarters in Chattanooga, Tennessee. The company aims to reduce supply chain risk, support U.S. energy independence, and establish a resilient domestic battery materials supply chain serving the energy storage and electrification markets.
Average Trading Volume: 4,082,829
Technical Sentiment Signal: Sell
Current Market Cap: A$245.5M
See more data about NVX stock on TipRanks’ Stock Analysis page.