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.
NVX Ratings Summary
NVX Quant Ranking