04:12 AM EDT, 03/13/2025 (MT Newswires) -- NOVONIX ( NVX ) said Wednesday it has received approvals from the city of Chattanooga and Hamilton County in Tennessee for the $4.6 million purchase of a 182-acre piece of land for a 31,500 metric ton synthetic graphite mass production plant, its second in the city.

The industrial-scale battery company also said it has received an estimated $54 million in tax and other benefits over a 15-year period.

The deals are subject to final approval by the Chattanooga Industrial Development Board and other conditions, the company said.