Australia’s Novonix to build North America’s largest facility making synthetic form of vital battery component
The push to loosen China’s stranglehold over the global battery supply chain has intensified after Washington agreed to fund a new US graphite factory to be built by an Australian group. The US energy department has offered Novonix a conditional loan of $755mn to underwrite construction of a facility in Chattanooga, Tennessee, which will be the first large-scale synthetic graphite facility in North America when complete.
The funding agreement comes less than a week after Syrah Resources, another Australian graphite producer, entered talks with lenders including the US energy department after protests near its mine in Mozambique halted production and triggered a default on loans.
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