Novonix offered conditional commitment for us$754 million loan from the u.s. department of energy for new synthetic graphite manufacturing plant in tennessee

Figure 1 site rendering of novonix's new facility brisbane, australia, dec. 17, 2024 (globe newswire) -- novonix limited (nasdaq: nvx, asx: nvx) (“novonix” or “the company”), a leading battery materials and technology company, announced today a conditional commitment to novonix through one if its wholly-owned u.s.-based subsidiaries (“borrower”), from the u.s. department of energy (“doe”) through the loan programs office (“lpo”) for a direct loan of up to us$754.8 million ($692 million in principal and $62.8 million in capitalized interest) to be applied towards partially financing a proposed new facility in chattanooga, tennessee (the “new facility”). the proposed financing is being offered under the doe lpo's advanced technology vehicles manufacturing (“atvm”) loan program.
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