U.S. Government Selects NOVONIX to Receive US$103 Million in Qualifying Advanced Energy Project Tax Credits
BRISBANE, Australia, April 01, 2024 (GLOBE NEWSWIRE) — NOVONIX Limited (NASDAQ:NVX, ASX:NVX) (“NOVONIX” or the “Company”), a leading battery materials and technology company, today announced that upon recommendation by the U.S. Department of Energy (“DOE”), the Company was selected to receive a US$103 million tax credit (the “48C tax credit”) under the Qualifying Advanced Energy Project Allocation Program (the “48C program”), to support production of critical battery materials from its Riverside facility in Chattanooga, Tennessee.
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