Analyst Summary
- NOVONIX received approval to purchase a 182-acre parcel of land for its Enterprise South manufacturing facility in Chattanooga for approximately US$4.6 million.
- The company anticipates receiving an estimated US$54 million in net tax and other benefits over a 15-year period, subject to certain conditions.
- Enterprise South is expected to reach a full production capacity of 31,500 tonnes per annum (tpa) by the end of 2028 and create 500 full-time jobs.
- Combined with the existing Riverside facility, NOVONIX plans to have a total production capacity of over 50,000 tpa in Chattanooga by 2028.
- NOVONIX has a conditional commitment from the DOE for a direct loan of up to US$754.8 million for the Enterprise South facility.
- The Riverside facility is slated to begin commercial production in early 2026, with plans to grow output to 20,000 tpa.
- NOVONIX has signed binding offtake agreements with Panasonic Energy, Stellantis, and PowerCo, committing its full production capacity at its Riverside facility.