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An announcement from NOVONIX Ltd ( (AU:NVX) ) is now available.
NOVONIX Limited announced its plan to establish a new synthetic graphite manufacturing plant at the Enterprise South Industrial Park in Chattanooga, Tennessee. This expansion is expected to create 500 full-time jobs and increase the company’s production capacity to over 50,000 tonnes per annum by 2028. The project is supported by a conditional loan commitment of up to US$754.8 million from the U.S. Department of Energy to partially finance the facility. The new plant, along with the existing Riverside facility, positions NOVONIX as a key player in the North American battery supply chain, contributing significantly to the green economy and local job creation.
More about NOVONIX Ltd
NOVONIX Limited is a leading company in the battery materials and technology industry, focusing on the production of high-performance synthetic graphite for the battery sector. The company is recognized for its advancements in battery materials and has established significant partnerships with major corporations including Panasonic Energy, Stellantis, and PowerCo.
YTD Price Performance: 0.21%
Average Trading Volume: 152,616
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $274.1M
For an in-depth examination of NVX stock, go to TipRanks’ Stock Analysis page.
