NOVONIX Secures $103M in Tax Credits for Tennessee Graphite Facility

The U.S. government certification affirms NOVONIX's role in building a domestic battery materials supply chain.

Apr. 9, 2026 at 11:15pm

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A photorealistic studio still-life image of a polished, geometric graphite ingot or block floating on a clean, monochromatic background, dramatically lit to convey the abstract concept of critical mineral supply chain security.A symbolic representation of the government's investment in NOVONIX's domestic graphite production, underscoring the strategic importance of building a resilient battery materials supply chain.Chattanooga Today

NOVONIX Limited, a leading battery materials company, announced that the U.S. government has certified its Riverside project in Tennessee and allocated $103 million in tax credits under the Section 48C Advanced Energy Project Credit Program. This decision reflects the government's confidence in NOVONIX as a key partner in establishing a domestic synthetic graphite supply chain to support America's long-term energy and economic security.

Why it matters

The tax credits will help NOVONIX scale its U.S. manufacturing footprint and deliver a reliable, domestic supply of high-performance synthetic graphite to meet growing demand for battery materials in North America. This is a significant milestone in the company's mission to reduce supply chain risk and support U.S. energy independence.

The details

NOVONIX will receive the $103 million in tax credits when it places its first 11,000 tons per annum of production in service, provided that occurs before April 7, 2028. The company will continue to advance engineering, materials development, and financing activities for the project.

  • NOVONIX announced the certification on April 9, 2026.
  • The tax credits must be claimed by April 7, 2028.

The players

NOVONIX Limited

A leading battery materials company building a North American platform for critical battery materials and anode materials operations at its Chattanooga, Tennessee headquarters.

U.S. Government

Provided $103 million in tax credits to NOVONIX under the Section 48C Advanced Energy Project Credit Program, reflecting confidence in the company's role in establishing a domestic synthetic graphite supply chain.

Chuck Fleischmann

U.S. Representative who praised the certification as a milestone in building America's critical mineral supply chain.

Mike O'Kronley

CEO of NOVONIX, who said the tax credits are another significant milestone and show of support from the U.S. government as the company continues to scale its U.S. manufacturing footprint.

Ron Edmonds

Chairman of NOVONIX, who authorized the release of the announcement.

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What they’re saying

“This certification from the Trump administration is the latest vote of confidence in a mission that has always been bigger than politics. I'm proud that building America's critical mineral supply chain begins right here at home, in Chattanooga, Tennessee.”

— Chuck Fleischmann, U.S. Representative

“This is another significant milestone for NOVONIX and show of support from the U.S. Government, as we continue to scale our U.S. manufacturing footprint. We are focused on delivering a reliable, domestic supply of high-performance synthetic graphite to support the growing demand for battery materials in North America.”

— Mike O'Kronley, CEO of NOVONIX

What’s next

NOVONIX will continue to advance engineering, materials development, and financing activities for the Riverside project and will provide updates as key milestones are achieved.

The takeaway

The $103 million in tax credits from the U.S. government underscores the strategic importance of NOVONIX's role in building a domestic supply chain for critical battery materials. This investment will help the company scale its U.S. manufacturing capabilities and support the growing demand for electric vehicles and energy storage solutions in North America.