Battery materials maker Novonix said Friday that it has seen a breakthrough at its Chattanooga facility that will enable the plant to double the amount of product it initially plans to manufacture annually.
The company in a release cited its first-of-a-kind furnace technology to produce synthetic graphite for use in electric vehicle batteries, adding that it will allow Novonix to expand production capacity to 20,000 tons, double its initial target.
The results of the company’s ongoing production efforts at its factory off Riverfront Parkway demonstrate its path to profitable production, Novonix Chief Executive Chris Burns said.
“Over several production campaigns, the furnaces delivered in-spec product at a mass scale, reaching our target design throughputs,” Burns said in the statement. “The potential to expand the production output of Riverside to up to 20,000 tons per annum is an important opportunity for the company’s near-term growth plans with significant demand and strong progress in customer development.”
Australia-based Novonix operates the factory at The Bend development in a revamped former Alstom production plant. Novonix has said it plans to employ nearly 300 workers when the site is fully operational.