NOVONIX
NOVONIX is a Chattanooga, Tennessee-based battery materials company developing and manufacturing high-performance synthetic graphite anode materials for lithium-ion batteries, selling direct to major EV battery manufacturers including Panasonic, LG Energy Solution, and PowerCo (Volkswagen) under binding multi-year offtake agreements.
- Company typePublic
- Founded2013
- HeadquartersBedford, Canada
- Headcount101–250
- GTM typeB2B
- OfferingHardware or Manufacturing
What NOVONIX does
NOVONIX is a publicly traded (NASDAQ: NVX, ASX: NVX) battery materials company headquartered in Chattanooga, Tennessee, that develops and manufactures high-performance synthetic graphite anode active material (AAM) for the lithium-ion battery industry. Its core technology is a proprietary continuous graphitization furnace system, licensed exclusively from Harper International and converting petroleum coke feedstock into battery-grade synthetic graphite, with demonstrated ~60% lower global warming potential than Chinese synthetic graphite. The company also developed a patented all-dry, zero-waste (p-CAM-free) cathode synthesis process and the Ultra-High Precision Coulometry (UHPC) battery testing technology; the cathode synthesis has been transferred to a divested entity (Dryve Battery Materials, in which NOVONIX retains a 15% stake) following the April 2026 sale of the Battery Technology Solutions (BTS) testing business to former CEO Dr. Chris Burns for $1.00.
NOVONIX's commercial model is B2B direct enterprise sales conducted through multi-year binding offtake agreements with major EV battery manufacturers. As of 2025, the company is pre-revenue from synthetic graphite; first mass-production qualification C-sample was delivered to Panasonic Energy in June 2026, with commercial production for Panasonic scheduled to begin H2 2027 from the Riverside facility (scaling to 20,000 tpa). Binding offtakes total approximately 173,000 tonnes through 2031 across Panasonic (10,000 t, 2025-2028), PowerCo SE/Volkswagen (minimum 32,000 t, 2027-2031), and LG Energy Solution (up to 50,000 t over 10 years, with US$30M convertible note investment). Customer segments served include EV battery manufacturers (primary), energy storage system integrators, and defense/industrial applications. The company does not use channel intermediaries; all sales are direct.
The business is currently in a heavy capital-scaling phase funded by approximately $957 million in cumulative U.S. government support — a $150 million DOE grant, a $754.8 million conditional DOE Loan Programs Office commitment, and $103 million in Section 48C Advanced Energy Project tax credits — alongside a $95 million convertible debenture facility from Yorkville Advisors and an A$44.4M ASX institutional placement in June 2026. Reported FY2024 revenue was A$5.85 million (down 27.3% YoY) with widening net losses of A$74.8M, and FY2025 revenue was approximately A$6M against an A$75M net loss, reflecting pre-revenue scale-up costs. NOVONIX is led by CEO and Managing Director Michael O'Kronley (appointed May 2025, former CEO of Ascend Elements), supported by CFO Robert Long and Chairman Ron Edmonds.
NOVONIX firmographics
Firmographics- Name
- NOVONIX
- Legal name
- NOVONIX Limited
- Website
- https://novonixgroup.com
- Company type
- Public
- Founded year
- 2013
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- NOVONIX is a Chattanooga, Tennessee-based battery materials company developing and manufacturing high-performance synthetic graphite anode materials for lithium-ion batteries, selling direct to major EV battery manufacturers including Panasonic, LG Energy Solution, and PowerCo (Volkswagen) under binding multi-year offtake agreements.
- Ownership category
- akta.pro rank
NOVONIX industry classification
Industry- Product category
- Battery Materials & Anode Production
- NAICS
- Carbon and Graphite Product Manufacturing (335991)
- akta.pro primary industry
- Anode Materials Manufacturing (Graphite, Silicon, LTO) (EUAFABAC)
Keywords
Where NOVONIX is headquartered
LocationHeadquarters
- HQ city
- Bedford
- HQ country
- Canada
- HQ region
- North America
Offices4 records
Markets served
NOVONIX business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Technology or R&D, Infrastructure, Supply Chain, Personnel, Operations
Revenue model
- Synthetic Graphite Anode Materials: NOVONIX is pre-revenue from synthetic graphite production as of 2025. The company is scaling manufacturing operations at its Riverside facility in Chattanooga, Tennessee, targeting initial production of 3,000 tpa in 2026 and 20,000 tpa by 2028. Revenue will come from sale of synthetic graphite to battery manufacturers under binding offtake agreements.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Custom quote-based pricing for battery materials and equipment |
Go-to-market motion1 record
Distribution channels1 record
Marketing channels6 records
NOVONIX product offering
Product offeringCore offering
NOVONIX develops and manufactures high-performance synthetic graphite anode materials for lithium-ion batteries using a proprietary continuous graphitization furnace process that converts petroleum coke feedstock into battery-grade synthetic graphite. The company also supplies Ultra-High Precision Coulometry (UHPC) battery cell testing equipment and provides R&D services for battery materials and cell prototyping.
Product overview
NOVONIX operates as a battery materials and technology company with three core product areas: (1) Synthetic Graphite Anode Materials produced at its Riverside facility in Chattanooga, Tennessee, using proprietary continuous graphitization technology, with plans to expand via its Enterprise South facility; (2) Ultra-High Precision Coulometry (UHPC) Testing Equipment for battery cell testing; and (3) R&D Services for battery materials and cell development. The company also developed an all-dry, zero-waste cathode synthesis process, though this technology was transferred to Dryve Battery Materials following the April 2026 divestiture of the Battery Technology Solutions (BTS) division. NOVONIX's anode materials include the GX-23 grade synthetic graphite, and the company holds licensed graphitization furnace technology from Harper International. The company was formerly headquartered in Brisbane, Australia with operations in Nova Scotia, Canada, but consolidated to Chattanooga, Tennessee following strategic restructuring.
Differentiator
Problem solved
Functional benefit
Products and services
- Synthetic Graphite Anode Active Material (AAM) High-performance synthetic graphite anode materials for lithium-ion batteries produced at the Riverside facility in Chattanooga, Tennessee, using proprietary continuous graphitization systems. Offers higher charge rate, longer cycle life, ~60% lower global warming potential than Chinese production, and virtually zero emissions with limited chemical use. Sold to major battery manufacturers under binding offtake agreements.
- Ultra-High Precision Coulometry (UHPC) Battery Cell Testing Equipment Industry-leading battery cell testing equipment using UHPC technology that enables detection of early signs of degradation and inefficiency within just a few cycles with accuracy down to parts per million. Reveals failure mechanisms that traditional cycling methods often miss. Integrated with Gamry EIS technology for comprehensive battery characterization.
- Battery R&D Services Research and development services for battery cell types and assembly processes, electrode calendering, tab welding techniques, electrolyte pore filling ratios, cathode material testing, and end-to-end cell prototyping and evaluation. Provided to battery developers and research organizations (note: this business was divested to former CEO Dr. Chris Burns in April 2026 as part of the BTS divestiture).
- GX-23 Grade Synthetic Graphite NOVONIX's GX-23 grade of synthetic graphite anode material. Life Cycle Assessment by Minviro Ltd. demonstrated approximately 60% decrease in global warming potential relative to conventional anode grade synthetic graphite produced in China, and 30% decrease versus anode grade natural graphite from Heilongjiang Province, China.
Quantifiable outcome
- 60% decrease in global warming potential (GWP) relative to conventional anode grade synthetic graphite from Inner Mongolia, China
- +2 more outcomes
Companies that use NOVONIX
Customer profileNamed customers3 records
Segments3 records
Ideal customer profiles3 records
NOVONIX technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration2 records
AI capability4 records
Feature4 records
NOVONIX partnerships and signals
Strategic signalPartnerships
Ten partnerships are on record, tiered strategic, core and minor.
- Ionworks TechnologiesstrategicCollaboration with NOVONIX Battery Technology Solutions (now Avrion Battery Labs) to advance battery development through integrated modeling and experimental insight. Combines Ionworks' simulation platform with NOVONIX BTS's battery materials testing capabilities.
- SandboxAQstrategicCollaboration to accelerate battery testing using AI and Large Quantitative Models. SandboxAQ trained models on NOVONIX's 4+ million hours of cell cycling data, achieving 90% reduction in battery testing time.
- Harper InternationalcoreExclusive licensing agreement for Harper's continuous, induction-based graphitization furnace technology used to produce synthetic graphite anode material. Builds on strategic partnership from December 2020. After 7-year period, NOVONIX receives perpetual, irrevocable, non-exclusive license.
- Gamry InstrumentsstrategicStrategic partnership to integrate Gamry's Electrochemical Impedance Spectroscopy (EIS) technology into NOVONIX's Ultra-High Precision Coulometry (UHPC) testing systems. NOVONIX distributes Gamry products as part of integrated UHPC systems.
- PowerCo SE (Volkswagen)coreBinding offtake agreement for minimum 32,000 tonnes of high-performance synthetic graphite material over five-year term starting 2027. PowerCo oversees VW's global battery cell production including gigafactories in Germany, Spain, and Canada.
- ICoNiChemminorCollaboration on battery cathode feedstock. ICoNiChem (UK-based) and NOVONIX working together on battery recycling innovation and cathode material development.
- VoltaiqstrategicStrategic partnership to drive efficiency and quality in the battery industry through integrated battery testing and data analytics solutions.
- CBMMstrategicJoint development agreement focused on nickel-based cathode materials for batteries. NOVONIX uses its patented all-dry, zero-waste synthesis process to synthesize, test, and analyze cathode materials incorporating CBMM's niobium products.
- Panasonic EnergycoreBinding offtake agreement for high-performance synthetic graphite anode material supply to Panasonic Energy's North American operations. Agreement for minimum 10,000 tonnes through 2025-2028 from Riverside facility. Panasonic Energy is working to expand EV battery production in North America.
- LG Energy SolutioncoreJoint research and development agreement to develop artificial graphite anode material for lithium-ion batteries. NOVONIX issued US$30 million unsecured convertible notes to LGES. Collaboration aims to supply up to 50,000 tons of material over ten years from NOVONIX's U.S. facilities, with mass production expected to start in 2026.
Scale indicators13 records
Recent moves10 records
Expansion highlights7 records
NOVONIX competitors and assessment
Company assessmentDirect peers
- Nouveau Monde Graphite: Canadian developer of battery-grade graphite (natural flake graphite and anode material) for the North American EV supply chain, with planned Bécancour anode material plant.
- Vianode: Norwegian producer of high-performance synthetic graphite anode materials for EVs, with planned large-scale production. Direct peer in synthetic graphite anode materials targeting Western OEM/battery customers.
- Anovion Battery Materials: U.S.-based producer of synthetic graphite anode materials for lithium-ion batteries. Direct competitor to NOVONIX in the North American market serving EV battery customers.
- Syrah Resources: Australia-listed operator of the Vidalia natural graphite active anode material facility in Louisiana, directly competing in North American battery-grade graphite supply.
- Talga Group: Australian-listed company developing graphite anode materials (natural and synthetic pathways) for lithium-ion batteries, targeting European/American EV supply chains.
Emerging players
- Ascend Elements: U.S.-based battery materials company focused on cathode active material recovery and precursor manufacturing, with adjacent technology overlap in lithium-ion battery materials and former employer of NOVONIX's CEO.
Broad incumbents
- POSCO Future M: Korean materials supplier producing both natural and artificial graphite anode materials at scale for major Asian and global battery manufacturers, with broader cathode and battery materials portfolio.
- GrafTech International: Established global producer of graphite electrodes and related carbon products, with technology and capabilities overlapping NOVONIX's graphite processing know-how, though focused on steel/industrial end-markets.
- Mitsubishi Chemical Group: Large Japanese chemicals group with battery materials operations including anode-grade graphite and carbon-based materials, supplying global battery manufacturers.
- SGL Carbon: German manufacturer of carbon and graphite products for industrial and battery applications, including graphite anode materials, providing overlapping capabilities with NOVONIX's carbon/graphite processing.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks7 records
Key highlights7 records
Customer concentration
NOVONIX social profiles
Digital presenceNOVONIX compliance and trust
Trust signalCompliance2 records
NOVONIX financial estimates
Financial estimateRevenue estimate
Valuation estimate
NOVONIX leadership team
Management profileNumber of profiles
Profiles12 records
NOVONIX funding detail
Funding detailFunding overview
Funding rounds8 records
Investors4 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
NOVONIX M&A and investment
M&A and investmentM&A
Investments1 record
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about NOVONIX
What does NOVONIX do?
NOVONIX develops and manufactures high-performance synthetic graphite anode materials for lithium-ion batteries using a proprietary continuous graphitization furnace process that converts petroleum coke feedstock into battery-grade synthetic graphite. The company also supplies Ultra-High Precision Coulometry (UHPC) battery cell testing equipment and provides R&D services for battery materials and cell prototyping.
Is NOVONIX a public or private company?
NOVONIX is a public company. It is classified as public and is currently operating.
When was NOVONIX founded?
NOVONIX was founded in 2013. It employs 101 to 250 people.
Where is NOVONIX based?
NOVONIX is headquartered in Bedford, Canada, in the North America region.
How does NOVONIX make money?
One revenue line is on record: synthetic Graphite Anode Materials.
Who are NOVONIX's main competitors?
Direct peers on record are Nouveau Monde Graphite, Vianode, Anovion Battery Materials, Syrah Resources and Talga Group. Ascend Elements is listed as an emerging player. Broad incumbents are POSCO Future M, GrafTech International, Mitsubishi Chemical Group and SGL Carbon.
Does NOVONIX have an API?
No public API is recorded for NOVONIX.
What industry is NOVONIX in?
NOVONIX's product category is Battery Materials & Anode Production. Its primary akta.pro industry code is EUAFABAC, Anode Materials Manufacturing (Graphite, Silicon, LTO). Its NAICS code is 335991.