US Energy Department offers conditional loan of $754 million to Novonix
The loan will finance the construction of the new facility in Chattanooga, Tennessee, to manufacture synthetic graphite primarily for use in EV batteries
Novonix Ltd., a leading battery materials and technology company, announced Dec. 17 that one of its wholly owned US-based subsidiaries has received a conditional loan offer of up to $754.8 million ($692 million in principal and $62.8 million in capitalized interest) from the US Energy Department (DOE) through the Loan Programs Office (LPO).
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