NOVONIX

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.

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

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

• Synthetic graphite anodes
• Lithium-ion battery materials
• Battery cell testing equipment
• Anode active materials
• Graphite manufacturing

Headquarters

HQ city

Bedford

HQ country

Canada

HQ region

North America

Offices4 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Infrastructure, Supply Chain, Personnel, Operations

Revenue model

1. 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

Go-to-market motion1 record

Distribution channels1 record

Marketing channels6 records

Core 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

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

AI capability4 records

Feature4 records

Partnerships

Ten partnerships are on record, tiered strategic, core and minor.

• Ionworks TechnologiesstrategicTechnology or Integration · 10 February 2026Collaboration 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.
• SandboxAQstrategicTechnology or Integration · 20 January 2026Collaboration 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 InternationalcoreOEM/ Whitelabel/ Licensing Partner · 16 January 2025Exclusive 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 InstrumentsstrategicTechnology or Integration · 4 December 2024Strategic 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)coreStrategic or Co-development Partner · 24 November 2024Binding 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.
• ICoNiChemminorStrategic or Co-development Partner · 1 November 2024Collaboration on battery cathode feedstock. ICoNiChem (UK-based) and NOVONIX working together on battery recycling innovation and cathode material development.
• VoltaiqstrategicTechnology or Integration · 8 October 2024Strategic partnership to drive efficiency and quality in the battery industry through integrated battery testing and data analytics solutions.
• CBMMstrategicStrategic or Co-development Partner · 15 August 2024Joint 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 EnergycoreStrategic or Co-development Partner · 8 February 2024Binding 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 SolutioncoreStrategic or Co-development Partner · 6 June 2023Joint 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

Direct 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

• Xx.com/novonixbattery
• LinkedInlinkedin.com/company/novonix
• Instagraminstagram.com/novonix

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Funding overview

Funding rounds8 records

Investors4 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about NOVONIX