Novonix with existing contract (Kore), cash on hand,...

Novonix with existing contract (Kore), cash on hand, demonstrated equipment at full scale and grant money have a demonstrated plan to be profitability from 2025.

Chris has also stated that being cashflow positive is in 2025.

From here NVX should be able to grow with more contracts for anode material. If people recall the IRA credit for compliant EVs ($3500) with compliant critical minerals begins in 2025 also. In 2025 minerals from a foreign entity of concern will disqualify the vehicle from the credit.

There are very few producers of IRA compliant synthetic anode material currently, Small amounts from South Korea and Japan. The two players that are US based are Anovion and Novonix. Both now have sizable projects underway.

From a natural graphite perspective there is Syrah, who have a very middle grade product (which will not struggle to find a buyer as it will be blended, Tesla for one.)
Other natural graphite and anode suppliers are 2027 onwards before reasonable production can occur.

Magnis is also a possibility but there are a lot of risks with that getting up IMO.

There are a lot of reports of a slowing of EV growth in the USA. It is a slowing of the growth rate but volumes are still trending up. It is ICE that is slowing.
Larger portions of the population are considering an EV as there next vehicle purchase.

Anovion and NVX have a USA market of approx 620kton coming online in 2025 and at capacity in 2027. There current combined plant production is 60kton. There is definite room to expand.

Anticipated USA demand for graphite anode is 1.1mil ton in 2030.