2 weeks Ago
NOVONIX Limited ( NASDAQ: NVX ) Q3 2024 Earnings Conference Call October 29, 2024 5:30 PM ET Company Participants Chris Burns - Founder and Chief Executive Officer Conference Call Participants Chris Burns Hi, I'm Dr. Chris Burns, Founder and CEO of NOVONIX. And welcome to our Third Quarter Activities Report Update.
I'm happy to be here today, to take you through the steady progress we've made in this quarter, toward our key activities around our Riverside facility as well as our cathode commercialization plan, amongst other highlights for the quarter. As always, please review our notice and disclaimers after the presentation. NOVONIX is a leading U.
S. based battery materials and technology company, and we're focused on lower carbon footprint production processes, for key materials for the battery industry. We have binding offtake agreements, with Panasonic Energy and KORE Power for synthetic graphite, and we'll begin production at our Riverside facility shown on the right here in Chattanooga, Tennessee next year.
The sector has received strong support, for localizing key materials for the battery industry and NOVONIX has received significant support in the form of $100 million granted from the U.S. Department of Energy, the Manufacturing and Energy Supply Chains office.
And we're also selected for an allocation of up to $103 million under the Qualified Advanced Energy Project tax credit, or the 48C program. This government support alongside strategic investment from LG Energy Solution, and Phillips 66, has allowed us to make the progress that we'll talk about today at Riverside, as we look to have Riverside be the first large scale facility, dedicated to the manufacturing of synthetic graphite, for the battery sector in North America. Alongside our Anode Materials group, we also have expansion now into patented all-dry zero-waste NMC cathode synthesis technology.
We've demonstrated this at pilot scale, with the opportunity to reduce.
