Novonix CEO Explains Company to Confused Investors

Chattanooga-based battery materials manufacturer faces questions about its identity and future plans.

Apr. 18, 2026 at 12:14am

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A polished, geometric graphite block floating on a clean, monochromatic background, representing the premium raw material at the heart of Novonix's battery technology. The dramatic lighting and shadows convey the technical precision and strategic importance of this critical battery component.A premium graphite block, the core material in Novonix's battery technology, stands as a symbol of the company's strategic role in building a domestic supply chain for critical minerals.Chattanooga Today

The CEO of Novonix, a Chattanooga-based manufacturer of synthetic graphite for batteries, had to explain to longtime Australian investors what the company actually does. Some investors were confused about Novonix's shift from a graphite mining operation to an industrial company focused on producing battery-grade graphite. The company faces challenges in scaling up production and meeting customer demand, leading to frustration from shareholders.

Why it matters

Novonix is a key player in the effort to build a domestic supply chain for critical battery materials in the United States, reducing reliance on China. The company's ability to ramp up production and secure new customers will impact the broader transition to electric vehicles and grid-scale energy storage.

The details

Novonix began as a graphite mining company called Graphitecorp in Australia, but has since shifted its focus to manufacturing synthetic graphite for batteries at its plant in Chattanooga, Tennessee. The company has faced delays in scaling up production and meeting customer demand, leading to a drop in its stock price. Novonix is now exploring options to boost investor confidence, including organic growth, increasing the ratio of U.S. to Australian shares, and potentially avoiding a reverse stock split.

  • Novonix was founded in 2012 under the name Graphitecorp.
  • The company announced in January 2026 that it would not reach mass production for its main customer until the second half of 2027.
  • Novonix announced on April 10, 2026 that the U.S. government certified a $103 million tax credit for its riverside plant.
  • Novonix has a deadline in August 2026 to bring its stock price above the minimum $1 requirement on the Nasdaq.

The players

Mike O'Kronley

CEO of Novonix who became CEO in May 2025.

Robert Long

Chief Financial Officer of Novonix.

Ron Edmonds

Chair of the Novonix board of directors.

Chris Burns

Founder of Novonix's battery research group in Nova Scotia, Canada, which the company plans to sell.

Panasonic Energy

One of Novonix's two customers focused on EV batteries.

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What they’re saying

“There's confusion in the market, in the investor market, of who we actually are.”

— Mike O'Kronley, CEO, Novonix

“How are you going to be able to get confidence back from this point? Because we want to see some changes soon.”

— Shareholder

“I think I can speak for the board, we all feel the pain that our shareholders have felt in this regard. And I can assure you that the management team and the board are working diligently to address the issues that need to be taken care of to take us to the next level.”

— Ron Edmonds, Chair, Novonix Board of Directors

What’s next

Novonix is considering purchasing a former Aerisyn wind tower plant next to its riverside facility in Chattanooga, which would allow the company to consolidate its federal support into one project. The company has exclusive rights for a 150-day period to explore this property acquisition, which it plans to finalize later this summer.

The takeaway

Novonix's struggle to clearly communicate its business model and production timeline to investors highlights the challenges facing companies in the emerging battery materials sector. As the U.S. seeks to build a domestic supply chain for critical minerals, Novonix's ability to scale up and secure new customers will be crucial to reducing reliance on China and supporting the transition to electric vehicles and grid-scale energy storage.