Grid Modernization
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Grid Modernization
Novonix Secures $755M Loan for Graphite Facility
Novonix, an Australian battery materials and technology company, has secured a conditional commitment for a $754.8 million loan from the U.S. Department of Energy (DOE) to construct a synthetic graphite manufacturing facility in Chattanooga, Tennessee.
This facility is poised to become the first large-scale synthetic graphite production plant in North America, aiming to reduce reliance on Chinese imports, which currently dominate over 95% of the global market for battery-grade graphite.
Project Details and Impact
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