NOVONIX announces $1 billion expansion in Hamilton County

HAMILTON COUNTY, Tenn. (WDEF) —  NOVONIX announced a manufacturing expansion in Hamilton County yesterday.

After a breakthrough at the Chattanooga facility last year that led to a first-of its-kind furnace technology that helps produce synthetic graphite, NOVONIX wants to expand its Chattanooga operations.

According to Chattanooga Area Chamber of Commerce, this project represented an approximate $1 billion investment along with the creation of 500 new jobs.

The Department of Energy announced a conditional commitment to NOVONIX for a direct loan totaling $754.8 million yesterday.

“Chattanooga’s future has never been so bright.  This historic investment will create hundreds of quality jobs and cement us as a leader in battery technology, with transformational research and technology assets based in Chattanooga. Thank you to the Department of Energy and NOVONIX for recognizing that we have the talented workers and supportive business environment to make this project a success.”

-Chattanooga Mayor Tim Kelly

The new facility will increase production capacity by 31,500 tons at full capacity.

This will support the production of lithium-ion batteries for 325,000 electric vehicles a year.

“We have partnered with NOVONIX to invest boldly into public education to train their future workforce.  This investment by Novonix is a testament to the talent and work ethic of the people of Hamilton County.”

-Hamilton County Mayor Weston Wamp