DOE LPO Conditional Commitment for an ATVM Loan of up to US$754.8 Million to NOVONIX for Enterprise South (December 2024)
DOE's Loan Programs Office announced a conditional commitment on 16 December 2024 for a direct loan of up to US$754.8 million (US$692 million principal plus US$62.8 million capitalised interest) under the Advanced Technology Vehicles Manufacturing program, to finance a 31,500 tonne-per-year synthetic graphite plant in Chattanooga, Tennessee. The loan has never closed: DOE states it must complete an environmental review and the company must satisfy technical, legal, environmental and financial conditions before DOE can decide whether to enter into definitive financing documents and fund the loan, and NOVONIX disclosed on 12 January 2025 that it had not been selected for 48C credits for Enterprise South, one of the loan's contemplated tranches. No obligation or disbursement event is recorded.
Financial state: Conditional commitment
Program: DOE Loan Programs Office - Advanced Technology Vehicles Manufacturing (ATVM) Loan Program · U.S. Department of Energy, Loan Programs Office
Primary source: U.S. Department of Energy · published Dec 16, 2024
Terms
| Principal | $754.8M (conditional commitment ceiling of up to US$754.8 million, comprising US$692 million of principal plus US$62.8 million of capitalised interest as announced by DOE; not a closed or drawn loan) |
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Immutable financial events
- Dec 16, 2024 · Conditional commitment
Sources
- U.S. Department of Energy · published Dec 16, 2024 · retrieved Aug 13, 2026 · archive unavailable: Wayback verification blocked by archive.org outage on 2026-08-12; recheck on a weekly pass
- NOVONIX Limited · published Jan 12, 2025 · retrieved Aug 13, 2026 · archive unavailable: Wayback verification blocked by archive.org outage on 2026-08-12; recheck on a weekly pass