Media Watch - NVX related, page-12511

Novonix successfully secured USD $100,000,000 from the Bipartisan Infrastructure Law Battery Materials Processing and Battery Manufacturing & Recycling Funding Opportunity Announcement (DE-FOA-0002678).

This was the first round of funding under the scheme.

In total, the scheme is looking to support approx USD $6,000,000,000 to US manufacturers scaling battery factories, supply and recycling.

Second round is now open for applications as of 31 Aug 23, which Novonix can apply for scaling the Greenfields field factory.

So basically if they are successful with the second application, it will support the next build out, likely at the site next door to VW in Chattanooga.

Pending any changes to design, Greenfields was pegged at 30,000TPA with the capacity to future proof scale up to 75,000TPA under the same roof, this was before Novonix had engineered the Gen 3 furance systems to double throughput. It will be interesting to see the new CAPEX requirements, we could get the same tonnage, but under a smaller warehouse, reducing CAPEX and OPEX.

Novonix is also at the Due Diligence phase for US DoE Advanced Technology Vehicle Manufacturing (ATVM) Loan Program, this program can fund upwards of 80% of projects.

My speculation on the loan application is that it is on hold, in good standing until they have the data from the Gen 3 fit out at Riverside. The loan will be used for the Greenfields Phase which was about a Billion dollars in CAPEX according to the original BIL grant. Novonix would be in a good position to secure this loan if they can lock down customers for the the anode that Riverside will be able to produce.

Anyways, all the information is out there to make informed decisions. Don't take my word...