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Novonix sells Canada battery division to focus on Chattanooga factory

Staff photo by Matt Hamilton / Chris Burns, a former CEO of Novonix, gives a tour of the company's Chattanooga plant in 2024. Burns bought the company's battery technology solutions company in Canada from Novonix in a sale that closed May 1, 2026.
Staff photo by Matt Hamilton / Chris Burns, a former CEO of Novonix, gives a tour of the company's Chattanooga plant in 2024. Burns bought the company's battery technology solutions company in Canada from Novonix in a sale that closed May 1, 2026. Staff photo by Matt Hamilton / Chris Burns, a former CEO of Novonix, gives a tour of the company's Chattanooga plant in 2024. Burns bought the company's battery technology solutions company in Canada from Novonix in a sale that closed May 1, 2026.

By Staff Report 3 min read

Novonix, a Chattanooga-based company working to reach mass production of synthetic graphite at a local plant, sold a division of the company that was based in Nova Scotia, Canada, to former company CEO Chris Burns.

The sale will allow the company to focus more resources on producing a key material for lithium-ion batteries used in electric vehicles and the electric grid.

“By divesting noncore business segments, we are directing our management attention and capital toward advancing domestic supply of this critical mineral and supporting the growth of the North American battery industry,” Novonix CEO Mike O’Kronley said in a press release.

(READ MORE: Novonix tax break at risk if it buys $26.5M alternate expansion site)

Novonix sells Canada battery division to focus on Chattanooga factory

Staff File Photo by Seth Carpenter / Novonix's headquarters are at its big blue riverside plant in Chattanooga. The company sold its battery tech division in Canada to former CEO Chris Burns in a transaction that closed May 1, 2026.
Staff File Photo by Seth Carpenter / Novonix’s headquarters are at its big blue riverside plant in Chattanooga. The company sold its battery tech division in Canada to former CEO Chris Burns in a transaction that closed May 1, 2026.
Staff File Photo / Nonovix Director of Engineering Thomas Rosengren explains the post processing of synthetic graphite. The company sold its battery tech division in Canada to former CEO Chris Burns in a transaction that closed May 1, 2026.
Staff File Photo / Nonovix Director of Engineering Thomas Rosengren explains the post processing of synthetic graphite. The company sold its battery tech division in Canada to former CEO Chris Burns in a transaction that closed May 1, 2026.
Staff File Photo / Novonix CEO Mike O'Kronley speaks at the company's Chattanooga offices. The company sold its battery tech division in Canada to former CEO Chris Burns in a transaction that closed May 1, 2026.
Staff File Photo / Novonix CEO Mike O’Kronley speaks at the company’s Chattanooga offices. The company sold its battery tech division in Canada to former CEO Chris Burns in a transaction that closed May 1, 2026.
Staff File Photo / Nonovix Director of Engineering Thomas Rosengren explains how synthetic graphite will be cooled before packing. The company sold its battery tech division in Canada to former CEO Chris Burns in a transction that closed May 1, 2026.
Staff File Photo / Nonovix Director of Engineering Thomas Rosengren explains how synthetic graphite will be cooled before packing. The company sold its battery tech division in Canada to former CEO Chris Burns in a transction that closed May 1, 2026.

Novonix sold the Canadian business, Novonix Battery Technology Solutions Inc., in a deal that closed Friday for a transaction price of $1, according to an announcement from Novonix. The spun-off company will operate as two independent companies: Avrion Battery Labs Inc. and Dryve Battery Materials Inc.