Federal funding for two battery materials plants in Chattanooga is not at stake to fund tax cuts moving through Congress, though Novonix said it does not know yet how President Donald Trump’s policy megabill will affect its operations.
The U.S. House passed a version of Trump’s One Big Beautiful Bill Act in May that would scrap clean energy and electric vehicle tax incentives approved under former President Joe Biden. The bill has moved to the Senate, where Republicans are debating major revisions.
Novonix, an Australian company with a plan to run the first major North American plants for synthetic graphite and end China’s monopoly in the sector, has several streams of support from the U.S. Department of Energy.
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The company says none of its major direct funding is on the chopping block in the current version of the legislation, though Novonix is a supplier to EV manufacturers.