Australia-based Novonix has been offered a further A$1.2 billion (US$754 million) in loans from the US Department of Energy to support the construction of a second planned synthetic graphite plant at Chattanooga in Tennessee – before the first has even been commissioned.
Australia-based Novonix has been offered a further A$1.2 billion in loans from the US Department of Energy to support the construction of a second planned synthetic graphite plant at Chattanooga in Tennessee – before the first has even been commissioned.The loan will be structured in two tranches with respective terms of 15 and 10 years.
"This conditional commitment from the government to invest in our new facility continues to underscore the focus on localising critical materials in the battery supply chain, such as graphite," Burns said."Recent announcements from China to further scrutinise the export of battery-grade graphite to the United States highlight the importance of domestic production of high-performance, battery-grade synthetic graphite.
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