Battery materials maker Novonix plans to redirect a $100 million federal grant to boost production at its existing Chattanooga plant at the former Alstom site along the Tennessee River, according to the company.
“The ability to deploy $100 million towards Riverside’s recently increased production targets will have an immediate beneficial impact on the company’s plans and the battery materials supply chain here in North America,” Novonix Chief Executive Officer Chris Burns said in a statement.
In October 2022, Novonix was selected by the U.S. Department of Energy for a $150 million grant to build a planned separate new facility. Department of Energy documents identified Chattanooga as the possible future home for that plant.
The company said last week it has negotiated with the department for a “resized” $100 million grant for use on its current Riverside facility, where it plans to double production to 20,000 tons annually of synthetic graphite anode materials used in electric vehicles and energy storage.
(READ MORE: Novonix expects to double initial production in Chattanooga)