checkAd

     257  0 Kommentare NOVONIX Completes Independent Engineering Assessment of Riverside Facility

    BRISBANE, Australia, May 30, 2024 (GLOBE NEWSWIRE) -- NOVONIX Limited (NASDAQ: NVX, ASX: NVX) (“NOVONIX” or “the Company”), a leading battery materials and technology company, has announced that an independent assessment of the Company's Riverside production facility in Chattanooga, Tennessee has been completed by Hatch Ltd, a global engineering and consulting firm.

    The assessment considered various topics including the evaluation of operations, project execution, and financial model assumptions as well as the graphite market, production technology, environmental considerations, feedstock, and supply agreements. With the independent engineering review completed, NOVONIX remains on track for its initial 3,000 tonnes per annum (tpa) of commercial production capacity at the Riverside facility by the end of 2024 with all primary production equipment in place or ordered. NOVONIX will continue to provide updates regarding production milestones at its Riverside facility.

    Dr. Chris Burns, CEO of NOVONIX, remarked, "The completion of the independent engineering review provides us with a high degree of confidence as we advance our overarching plans towards production and deliveries from Riverside. The completion of this review represents a significant milestone that reinforces our progress and underscores our position as pioneers in localizing lower-emissions synthetic graphite supply in North America."

    Given the completion of the independent engineering work and the Company's previously announced receipt of significant government support in the form of a US$100 million grant (“DOE MESC grant”)1 and a US$103 million tax credit (“48C tax credit”)2, the Company is updating its previously disclosed estimates for production economics3. The production economics, set forth in the figure below, reflect the Company’s expectations when the Riverside facility reaches its targeted capacity of 20,000 tpa.

    The figure highlights the importance of the U.S. Government's financial support for the expansion of the Riverside facility to enable the localization of anode manufacturing and the potential impact of the DOE MESC grant and the 48C tax credit on operating margins through offsets to depreciation when in production. At the targeted capacity for Riverside, NOVONIX anticipates achieving operating margins in the range of 23-30%, with an operating cost range of US$6-8/kg and an anticipated selling price of US$7-10/kg. This projection takes into account the impact of the facility's DOE MESC grant, which provides up to $0.45/kg in funding offset, along with the 48C tax credit offset of up to $0.50/kg, although the Company is still considering the potential impact of the Section 45X Advanced Manufacturing Tax Credit program, which it may elect to pursue in lieu of the 48C tax credit. It is important to note that these estimated operating margins do not reflect the potential benefit of Section 301 tariffs or the potential impact of compliance with the Foreign Entity of Concern requirements of the Section 30D Clean Vehicle Credit under the Inflation Reduction Act.

    Seite 1 von 4


    Diskutieren Sie über die enthaltenen Werte


    globenewswire
    0 Follower
    Autor folgen

    Weitere Artikel des Autors


    Verfasst von globenewswire
    NOVONIX Completes Independent Engineering Assessment of Riverside Facility BRISBANE, Australia, May 30, 2024 (GLOBE NEWSWIRE) - NOVONIX Limited (NASDAQ: NVX, ASX: NVX) (“NOVONIX” or “the Company”), a leading battery materials and technology company, has announced that an independent assessment of the Company's Riverside …