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NOVONIX
Dr. Chris Burns built NOVONIX into the only synthetic graphite supplier outside China with binding off-takes from Panasonic and backing from the U.S. DOE.
NOVONIX
Founded in 2012, NOVONIX was incorporated by Dr. Chris Burns with early roots in battery testing services before pivoting decisively into the battery materials supply chain. The firm's manufacturing footprint now spans anode powder production in Chattanooga, Tennessee, and anode materials R&D in Bedford, Nova Scotia, following its acquisition of Coulometrics. The operational shift positions the firm as a critical link in the western effort to decouple EV battery manufacturing from Chinese-controlled graphite processing. NOVONIX operates across the battery value chain with three core segments: anode materials, battery technology solutions, and battery testing services. The anode segment focuses on high-performance synthetic graphite, targeting the lithium-ion battery market for electric vehicles and grid storage. Deployment is concentrated in North America, with a marquee project at the 'Riverside' facility in Chattanooga aimed at producing 40,000 metric tons of synthetic graphite annually. The firm secured a $150 million grant from the U.S. Department of Energy (per DoE, October 2022) and a separate $50 million investment from Phillips 66 (per Phillips 66, August 2021) to fund its expansion. In 2024, NOVONIX deepened its path to revenue with a landmark off-take agreement to supply high-performance synthetic graphite to Panasonic Energy starting in fiscal year 2025 (per Panasonic Energy announcement, February 2024). The deal covers Panasonic's Kansas battery plant and ties NOVONIX's output directly to domestic EV credit eligibility under the U.S. Inflation Reduction Act. The firm's battery testing division, operating out of Halifax, services tier-one automotive OEMs and cell manufacturers, creating a flywheel where equipment sales and testing contracts inform the scaling of the materials business. NOVONIX's structural position is defined by its public listing on the ASX and NASDAQ and its project-finance approach to scaling a commoditized material. Unlike most junior miners or chemical refiners, the firm's binding off-take agreements and DoE grant structure essentially underwrite construction risk, creating a quasi-infrastructure profile within a battery tech wrapper. Its mix of U.S. government backing and Asian manufacturing partnerships sets a template for how critical-mineral processing capacity gets built in a fracturing trade environment.
General information
Firm type
Asset Manager
Year founded
2012
AUM
Undisclosed
Location
Region
Oceania
Country
Australia
City
Brisbane
Corporate office
Brisbane, QLD, Australia
Additional offices
Chattanooga, TN, United States · Bedford, NS, Canada
Principals
Dr. Chris Burns
CEO & Director
Sector focus
Frequently asked questions
Who runs investment decisions at NOVONIX?
Capital allocation and strategic decisions are led by CEO and founder Dr. Chris Burns, a battery scientist by training. The firm operates as a publicly listed company (ASX: NVX, NASDAQ: NVX) with a board overseeing major corporate actions. Production-scale investments, like the Tennessee graphite facility, are driven by project-finance milestones structured around secured grants and offtake agreements.
How is NOVONIX related to Phillips 66?
Phillips 66 made a US$50 million strategic investment in NOVONIX in 2021 to support the development of the Tennessee anode plant. The relationship provides access to specialized carbon-feedstock sourcing and processing expertise critical to synthetic graphite production. As part of the deal, a Phillips 66 executive held a board observer seat at NOVONIX.
Is NOVONIX a mining company or a technology company?
NOVONIX functions as a battery materials producer with an integrated technology arm. It does not own mines but processes precursor materials into high-performance synthetic graphite used in lithium-ion cells. The firm also sells precision battery-testing equipment and services to OEMs and cell manufacturers.
What investment stages does NOVONIX typically target?
NOVONIX is an operating business that deploys capital into heavy industrial assets, specifically anode production facilities. It does not operate a venture arm and its balance sheet is geared toward scaling manufacturing capacity. Capital is sourced through equity markets, government grant programs, and strategic industrial partners like Phillips 66.
Which sectors does NOVONIX explicitly avoid?
NOVONIX's disclosures do not indicate activity in cathode materials, lithium extraction, or battery recycling despite being in the broader battery ecosystem. The firm is structurally focused on the anode side of the lithium-ion supply chain — synthetic graphite anode powder — and testing equipment.
How does NOVONIX source its revenue?
Revenue comes from the battery testing services division, which provides R&D and production-scale cycling equipment to global battery customers, and is expected to ramp from high-volume anode material sales. The Panasonic off-take agreement, commencing fiscal 2025, is the primary contracted revenue anchor for the materials segment.
What is NOVONIX's known posture on co-investments alongside external GPs?
NOVONIX has not historically structured co-investment vehicles with external fund managers. Capital formation runs through traditional equity issuances, DOE grants, and direct industrial investments. A portfolio allocator would not be able to co-invest in the Tennessee facility through a GP vehicle.
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