Latest news with #NOVONIX
Yahoo
21-05-2025
- Business
- Yahoo
U.S. Department of Commerce to Place Up to 721% Tariffs on Chinese Graphite
CHATTANOOGA, Tenn., May 21, 2025 (GLOBE NEWSWIRE) -- NOVONIX Limited (NASDAQ: NVX, ASX: NVX) ('NOVONIX' or the 'Company'), a leading battery materials and technology company, applauds the preliminary affirmative determination by the U.S. Department of Commerce ('Commerce') to impose up to 721% of countervailing duty ('CVD') tariffs on synthetic and natural graphite anode material from China. In February, the International Trade Commission ('ITC') announced its preliminary determination asserting that China suppressed the establishment of the graphite industry in the United States (and elsewhere) by exporting artificially cheap graphite which is a key component of lithium-ion batteries.1 Michael O'Kronley, CEO of NOVONIX, stated, "We are encouraged by the decision of the Department of Commerce today. This decision is an important step in supporting the United States' goal of developing critical mineral supply domestically for increased energy independence.' Commerce is also conducting its own antidumping duty ('AD') investigation. Any additional AD tariff imposed by Commerce will stack onto the CVD tariffs announced today. The final determinations for both investigations are expected to be issued around December 5, 2025. This trade case was filed by the American Active Anode Material Producers, which is comprised of four members of the North American Graphite Alliance, ('NAGA'), including NOVONIX, and two additional graphite anode material producers in the United States. NAGA represents American and Canadian producers of battery-grade natural and synthetic graphite, both of which are used to create anode material for lithium-ion batteries. NOVONIX's Riverside facility is poised to become the first large-scale production site dedicated to high-performance synthetic graphite for the battery sector in North America. To meet increasing customer demand, the Company previously announced the execution of a definitive agreement to purchase a 182-acre parcel in the Enterprise South Industrial Park in Chattanooga, Tennessee, the future location of its second high-performance, synthetic graphite manufacturing plant. With this initial capacity at Enterprise South and its existing Riverside facility, which is scaling up to 20,000 tonnes per annum ('tpa'), NOVONIX will have total production capacity of over 50,000 tpa in Chattanooga. This announcement has been authorised for release by Admiral Robert J Natter, USN Ret., Chairman. About NOVONIX NOVONIX is a leading battery technology company revolutionizing the global lithium-ion battery industry with innovative, sustainable technologies, high-performance materials, and more efficient production methods. The Company manufactures industry-leading battery cell testing equipment, is growing its high-performance synthetic graphite material manufacturing operations, and has developed a patented all-dry, zero-waste cathode synthesis process. Through advanced R&D capabilities, proprietary technology, and strategic partnerships, NOVONIX has gained a prominent position in the electric vehicle and energy storage systems battery industry and is powering a cleaner energy future. To learn more, visit us at or on LinkedIn and X. For NOVONIX Limited Scott Espenshade, ir@ (investors)Stephanie Reid, media@ (media) Cautionary Note Regarding Forward-Looking StatementsThis communication contains forward-looking statements about the Company and the industry in which we operate. Forward-looking statements can generally be identified by use of words such as 'anticipate,' 'believe,' 'contemplate,' 'continue,' 'could,' 'estimate,' 'expect,' 'intend,' 'may,' 'plan,' 'potential,' 'predict,' 'project,' 'should,' 'target,' 'will,' or 'would,' or other similar expressions. Examples of forward-looking statements in this communication include, among others, statements we make regarding our plans to purchase the Enterprise South property and build a new production facility, and our anticipated production capacity at each of our Riverside and planned Enterprise South have based such statements on our current expectations and projections about future events and trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Such forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, the timely deployment and scaling of our furnace technology, our ability to meet the technical specifications and demand of our existing and future customers, the accuracy of our estimates regarding market size, expenses, future revenue, capital requirements, needs and access for additional financing, the availability and impact and our compliance with the applicable terms of government funding and other support, our ability to satisfy the conditions precedent to our entering into definitive loan documents and to the U.S. Department of Energy's funding the LPO loan and, if the loan is obtained, our ability to comply with the restrictions and obligations under the loan documents, our ability to obtain patent rights effective to protect our technologies and processes and successfully defend any challenges to such rights and prevent others from commercializing such technologies and processes, and regulatory and economic developments in the United States, Australia and other jurisdictions. These and other factors that could affect our business and results are included in our filings with the U.S. Securities and Exchange Commission ('SEC'), including the Company's most recent annual report on Form 20-F. Copies of these filings may be obtained by visiting our Investor Relations website at or the SEC's website at Forward-looking statements are not guarantees of future performance or outcomes, and actual performance and outcomes may differ materially from those made in or suggested by the forward-looking statements contained in this communication. Accordingly, you should not place undue reliance on forward-looking statements. Any forward-looking statement in this communication is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise, except as required by law. 1 US Graphite Producers Win Preliminary ITC Trade Case Ruling - NOVONIX
Business Insider
28-04-2025
- Business
- Business Insider
Novonix appoints Michael O'Kronley as CEO
NOVONIX (NVX) announced the appointment of Michael O'Kronley as Chief Executive Officer, effective May 19, 2025. Most recently, O'Kronley served as Chief Executive Officer of Ascend Elements. Stay Ahead of the Market: Discover outperforming stocks and invest smarter with Top Smart Score Stocks. Filter, analyze, and streamline your search for investment opportunities using Tipranks' Stock Screener. Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Yahoo
27-04-2025
- Business
- Yahoo
NOVONIX Appoints Michael O'Kronley as Chief Executive Officer
CHATTANOOGA, Tenn., April 27, 2025 (GLOBE NEWSWIRE) -- NOVONIX Limited (NASDAQ: NVX, ASX: NVX) ('NOVONIX' or the 'Company'), a leading battery materials and technology company today announced the appointment of Michael O'Kronley as Chief Executive Officer, effective May 19, 2025. With a strong technical foundation in engineering, Mr. O'Kronley brings over 30 years of automotive experience, including 15 years in the Lithium-ion battery and battery materials space. Most recently, Mr. O'Kronley served as Chief Executive Officer of Ascend Elements where he increased the enterprise value of the company by US$1.6 Billion in 5 years. Admiral Robert J Natter, USN Ret., Chairman of NOVONIX said 'We are thrilled to welcome Mr. O'Kronley to the NOVONIX team. His professional accomplishments as well as his extensive experience in manufacturing, operations, and scaling critical minerals production, makes him an ideal choice. We're confident in his ability to lead the Company into its next phase of growth from our headquarters in Chattanooga, Tennessee.' Michael O'Kronley, incoming Chief Executive Officer said 'It's an honour to join NOVONIX at such a pivotal time. I look forward to working with the team to build on recent successes and ultimately onshore the graphite supply chain in North America.' Mr. O'Kronley succeeds Mr. Robert Long, who has served as Interim CEO since January 2025. He will now resume his role as Chief Financial Officer, continuing to play a key role in the Company's strategic and financial leadership. 'I'd like to extend our sincere thanks to Mr. Long for his leadership over the past several months. He has provided invaluable stability and strategic direction during this important time and we're grateful he will continue in his role as CFO,' added Admiral Natter. This announcement has been authorised for release by Admiral Robert J Natter, USN Ret., Chairman. About NOVONIX NOVONIX is a leading battery technology company revolutionizing the global lithium-ion battery industry with innovative, sustainable technologies, high-performance materials, and more efficient production methods. The Company manufactures industry-leading battery cell testing equipment, is growing its high-performance synthetic graphite material manufacturing operations, and has developed a patented all-dry, zero-waste cathode synthesis process. Through advanced R&D capabilities, proprietary technology, and strategic partnerships, NOVONIX has gained a prominent position in the electric vehicle and energy storage systems battery industry and is powering a cleaner energy future. To learn more, visit us at or on LinkedIn and X. For NOVONIX Limited Scott Espenshade, ir@ (investors)Stephanie Reid, media@ (media) Cautionary Note Regarding Forward-Looking Statements This communication contains forward-looking statements about the Company and the industry in which we operate. Forward-looking statements can generally be identified by use of words such as 'anticipate,' 'believe,' 'contemplate,' 'continue,' 'could,' 'estimate,' 'expect,' 'intend,' 'may,' 'plan,' 'potential,' 'predict,' 'project,' 'should,' 'target,' 'will,' or 'would,' or other similar expressions. Examples of forward-looking statements in this communication include statements we make regarding our plans to commence commercial scale production at our Riverside facility and grow our synthetic graphite production over the coming years. We have based such statements on our current expectations and projections about future events and trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Such forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, the timely deployment and scaling of our furnace technology, our ability to meet the technical specifications and demand of our existing and future customers, the accuracy of our estimates regarding market size, expenses, future revenue, capital requirements, needs and access for additional financing, the availability and impact and our compliance with the applicable terms of government financing support, our ability to obtain patent rights effective to protect our technologies and processes and successfully defend any challenges to such rights and prevent others from commercializing such technologies and processes, and regulatory developments in the United States, Australia and other jurisdictions. These and other factors that could affect our business and results are included in our filings with the U.S. Securities and Exchange Commission ('SEC'), including the Company's most recent annual report on Form 20-F. Copies of these filings may be obtained by visiting our Investor Relations website at or the SEC's website at Forward-looking statements are not guarantees of future performance or outcomes, and actual performance and outcomes may differ materially from those made in or suggested by the forward-looking statements contained in this communication. Accordingly, you should not place undue reliance on forward-looking statements. Any forward-looking statement in this communication is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise, except as required by in to access your portfolio
Yahoo
13-03-2025
- Business
- Yahoo
NOVONIX Receives Approval for Purchase of Enterprise South Land for Planned Enterprise South Manufacturing Facility
BRISBANE, Australia, March 13, 2025 (GLOBE NEWSWIRE) -- NOVONIX Limited (NASDAQ: NVX, ASX: NVX) ('NOVONIX' or 'the Company'), a leading battery materials and technology company, announced today, that it has received unanimous approval from each of the City of Chattanooga and Hamilton County for the purchase of a 182-acre parcel of land for its second mass production plant ('Enterprise South'). Enterprise South will be acquired for approximately US$4.6 million and will be subject to the satisfaction of certain conditions to be specified in the purchase and sale agreement. The Company also received an estimated US$54 million in net tax and other benefits to be realised over a 15-year period and are subject to the satisfaction of a number of conditions. These transactions remain subject to final approval by the Chattanooga Industrial Development Board. To meet increasing customer demand, the Company previously announced plans for its next large-scale synthetic graphite manufacturing plant in Chattanooga, Tennessee. Enterprise South is expected to reach full production capacity of 31,500 tonnes per annum ('tpa') by the end of 2028 and is anticipated to create 500 full-time jobs. The Enterprise South facility, together with NOVONIX's existing Riverside facility which is scaling up to production of 20,000 tpa, is planned to bring the Company's total production capacity to over 50,000 tpa in Chattanooga by 2028. Mr. Robert Long, Interim CEO of NOVONIX, said: 'We are pleased to announce this next step in our expansion in Chattanooga and deepen our roots in the local community as we continue to grow as a company. We have worked closely with the city, county, and state over the past seven years of operations in Chattanooga. They have been great partners and we, in turn, are proud to strengthen our local hiring and workforce development commitments to the community.' In addition to the commitments contained in the Company's local Payment in Lieu of Taxes (PILOT) agreement, NOVONIX also announced the extension and expansion of its local partnership with Lookout Valley Middle High School, NOVONIX Institute of Advanced Battery Technology (NIABT). As part of Hamilton County School's Future Ready Institutes, the NIABT provides career-focused learning aimed at equipping students with the skills and knowledge they need to succeed in the battery industry and other STEM innovation December, the Company announced a conditional commitment from the DOE through the Loan Programs Office ('LPO') for a direct loan of up to US$754.8 million to be applied towards the financing of NOVONIX Enterprise South.1 NOVONIX's Riverside facility, also located in Chattanooga, is poised to become the first large-scale production site dedicated to high-performance synthetic graphite for the battery sector in North America. It is slated to begin commercial production in early 2026, with plans to grow output to 20,000 tpa to meet current customer commitments. Previously, the Company announced that the DOE's Office of Manufacturing and Energy Supply Chains ('MESC') awarded the Company a US$100 million grant2 and that it was selected for a US$103 million investment tax credit3 towards the funding of the Riverside facility. NOVONIX has signed binding offtake agreements to supply synthetic graphite to Panasonic Energy,4 Stellantis,5 and PowerCo,6 committing its full production capacity at its Riverside facility and triggering the need for additional capacity at Enterprise South. This announcement has been authorised for release by Admiral Robert J Natter, USN Ret., Chairman. About NOVONIX NOVONIX is a leading battery technology company revolutionizing the global lithium-ion battery industry with innovative, sustainable technologies, high-performance materials, and more efficient production methods. The Company manufactures industry-leading battery cell testing equipment, is growing its high-performance synthetic graphite material manufacturing operations, and has developed a patented all-dry, zero-waste cathode synthesis process. Through advanced R&D capabilities, proprietary technology, and strategic partnerships, NOVONIX has gained a prominent position in the electric vehicle and energy storage systems battery industry and is powering a cleaner energy future. To learn more, visit us at or on LinkedIn and X. For NOVONIX Limited Scott Espenshade, ir@ (investors)Stephanie Reid, media@ (media) Cautionary Note Regarding Forward-Looking StatementsThis communication contains forward-looking statements about the Company and the industry in which we operate. Forward-looking statements can generally be identified by use of words such as 'anticipate,' 'believe,' 'contemplate,' 'continue,' 'could,' 'estimate,' 'expect,' 'intend,' 'may,' 'plan,' 'potential,' 'predict,' 'project,' 'should,' 'target,' 'will,' or 'would,' or other similar expressions. Examples of forward-looking statements in this communication include, among others, statements we make regarding our anticipated production capacity and commencement of commercial production at our Riverside facility and the planned Enterprise South facility, our plans to purchase property for and build the new production facility, and our efforts to finance this new production facility with a loan from the LPO. We have based such statements on our current expectations and projections about future events and trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Such forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, the timely deployment and scaling of our furnace technology, our ability to meet the technical specifications and demand of our existing and future customers, the accuracy of our estimates regarding market size, expenses, future revenue, capital requirements, needs and access for additional financing, the availability and impact and our compliance with the applicable terms of government support, including the DOE MESC grant and, if a definitive agreement is executed and the loan is funded, the LPO loan, our ability to satisfy the conditions precedent to our entering into definitive loan documents and to the DOE's funding the LPO loan and, if the loan is obtained, our ability to comply with the restrictions and obligations under the loan documents, our ability to obtain patent rights effective to protect our technologies and processes and successfully defend any challenges to such rights and prevent others from commercializing such technologies and processes, and regulatory developments in the United States, Australia and other jurisdictions. These and other factors that could affect our business and results are included in our filings with the U.S. Securities and Exchange Commission ('SEC'), including the Company's most recent annual report on Form 20-F. Copies of these filings may be obtained by visiting our Investor Relations website at or the SEC's website at Forward-looking statements are not guarantees of future performance or outcomes, and actual performance and outcomes may differ materially from those made in or suggested by the forward-looking statements contained in this communication. Accordingly, you should not place undue reliance on forward-looking statements. Any forward-looking statement in this communication is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise, except as required by law. 1 NOVONIX Offered Conditional Commitment for US$754 Million Loan from the U.S. Department of Energy for New Synthetic Graphite Manufacturing Plant in Tennessee - NOVONIX2 NOVONIX Finalizes US$100 Million Grant Award from U.S. Department of Energy - NOVONIX3 U.S. Government Selects NOVONIX to Receive US$103 Million in Qualifying Advanced Energy Project Tax Credits - NOVONIX4 Panasonic Energy and NOVONIX Sign Binding Off-Take Agreement - NOVONIX5 NOVONIX and Stellantis Sign Binding Offtake Agreement - NOVONIX6 NOVONIX and PowerCo SE Sign Binding Offtake Agreement - NOVONIXSign in to access your portfolio
Yahoo
17-02-2025
- Business
- Yahoo
Investors in NOVONIX (ASX:NVX) have unfortunately lost 89% over the last three years
It's not possible to invest over long periods without making some bad investments. But really bad investments should be rare. So spare a thought for the long term shareholders of NOVONIX Limited (ASX:NVX); the share price is down a whopping 89% in the last three years. That might cause some serious doubts about the merits of the initial decision to buy the stock, to put it mildly. And more recent buyers are having a tough time too, with a drop of 33% in the last year. Shareholders have had an even rougher run lately, with the share price down 30% in the last 90 days. We really hope anyone holding through that price crash has a diversified portfolio. Even when you lose money, you don't have to lose the lesson. It's worthwhile assessing if the company's economics have been moving in lockstep with these underwhelming shareholder returns, or if there is some disparity between the two. So let's do just that. Check out our latest analysis for NOVONIX Given that NOVONIX didn't make a profit in the last twelve months, we'll focus on revenue growth to form a quick view of its business development. Shareholders of unprofitable companies usually desire strong revenue growth. That's because it's hard to be confident a company will be sustainable if revenue growth is negligible, and it never makes a profit. Over three years, NOVONIX grew revenue at 18% per year. That's a pretty good rate of top-line growth. So it seems unlikely the 24% share price drop (each year) is entirely about the revenue. It could be that the losses were much larger than expected. If you buy into companies that lose money then you always risk losing money yourself. Just don't lose the lesson. You can see how earnings and revenue have changed over time in the image below (click on the chart to see the exact values). Balance sheet strength is crucial. It might be well worthwhile taking a look at our free report on how its financial position has changed over time. Investors in NOVONIX had a tough year, with a total loss of 33%, against a market gain of about 15%. However, keep in mind that even the best stocks will sometimes underperform the market over a twelve month period. Longer term investors wouldn't be so upset, since they would have made 6%, each year, over five years. If the fundamental data continues to indicate long term sustainable growth, the current sell-off could be an opportunity worth considering. It's always interesting to track share price performance over the longer term. But to understand NOVONIX better, we need to consider many other factors. Take risks, for example - NOVONIX has 3 warning signs (and 1 which is concerning) we think you should know about. We will like NOVONIX better if we see some big insider buys. While we wait, check out this free list of undervalued stocks (mostly small caps) with considerable, recent, insider buying. Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on Australian exchanges. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Sign in to access your portfolio
