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CHATTANOOGA, Tenn., April 09, 2026 (GLOBE NEWSWIRE) — NOVONIX Limited (NASDAQ: NVX, ASX: NVX) (“NOVONIX” or the “Company”), a leading battery materials company, today announced that the U.S. Government has certified its Riverside project in connection with the US$103 million in tax credits previously allocated under the U.S. Government’s Section 48C Advanced Energy Project Credit Program.
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“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.” – U.S. Representative Chuck Fleischmann.
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This decision reflects the U.S. government’s confidence in NOVONIX, affirming the Company’s role as an essential partner in establishing a domestic synthetic graphite supply chain that underpins America’s long-term energy and economic security.
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“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,” said Mike O’Kronley, CEO of NOVONIX. “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.”
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NOVONIX will receive the US$103 million of tax credits when it places its first 11,000 tpa of production in service, provided that occurs before 7 April 2028. These tax credits can be sold to a third party.
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The Company will continue to advance engineering, materials development, and financing activities for the project and will provide updates as key milestones are achieved.
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This announcement has been authorized for release by NOVONIX Chairman, Mr. Ron Edmonds.
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About NOVONIX
NOVONIX strives to reduce supply chain risk, support U.S. energy independence, and establish a resilient battery materials supply chain. The company is building a North American platform for critical battery materials and anode materials operations at its Chattanooga, Tennessee headquarters. NOVONIX is positioned as a supplier of advanced battery materials and technologies powering the energy storage and electrification economy.
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To learn more, visit us at www.novonixgroup.com or on LinkedIn and X.
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Cautionary Note Regarding Forward-Looking Statements
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This communication contains forward-looking statements about the Company and the industry in which it operates. Forward-looking statements can generally be identified by use of words such as “anticipate,” “believe,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” or “would,” or other similar expressions. Examples of forward-looking statements in this communication include, among others, statements made regarding the anticipated assessment of the adjacent property and the timeline therefor, the completion and outcome of any due diligence performed, proposed re-zoning of the property, the decision to purchase the property or not, the negotiation and finalization of the definitive agreements, the anticipated key business terms of the sale, how the purchase of this property or any property will affect the long-term value of the Company, and potential efficiencies resulting from the purchase of the property.
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