Novonix (ASX:NVX) plans to enter a purchase and sale agreement with the City of Chattanooga and Hamilton County in Tennessee, US for land to be used for a second mass production plant, Novonix Enterprise South.
Enterprise South is expected to reach full production capacity of 31,500 tonnes per year (tpa) by the end of 2028 and is anticipated to create 500 full-time jobs.
The facility, together with Novonix’s existing 20,000tpa facility at Riverside in Chattanooga, is planned to bring the company’s total production capacity to more than 50,000tpa by 2028.
CEO Chris Burns says the company has been working closely with the city, county, and state over the past seven years of operating in Chattanooga.
“Securing this new site for our expansion is a continued example of that partnership,” Burns says.
“We have signed binding offtake agreements to supply synthetic graphite to Panasonic Energy, Stellantis (NYSE:STLA), and PowerCo, which has our Riverside facility at capacity, and we’re looking forward to opening our doors at Enterprise South.”
Mayor of Chattanooga Tim Kelly says Novonix’s investment shows the city has talent and the business environment to lead in the green economy.
“The city and our partners are committed to working with the company as they bring this new site online,” Kelly says.
“From our earliest discussions with the leadership of Novonix, they were supportive of our vision to create career opportunities for Hamilton County students, which will be made possible through this investment,” Mayor of Hamilton County Weston Wamp says.
Novonix is a battery technology company revolutionising the global lithium-ion battery industry with innovative, sustainable technologies, high-performance materials, and more efficient production methods.
Write to Aaliyah Rogan at Mining.com.au
Images: Novonix
