Business UpdateJul 30, 2026, 06:36 AM
NOVONIX Delivers Panasonic C-Sample; Secures $103M Tax Credit
AI Summary
NOVONIX delivered a C-sample of synthetic graphite AAM to Panasonic Energy, which internal testing indicates meets specifications, pending formal validation. The company reaffirmed expected mass production for Panasonic in H2 2027. NOVONIX also secured a US$103 million tax credit for its Riverside project under the 48C program and successfully completed a A$20.7 million institutional placement and A$0.96 million share purchase plan. Additionally, NOVONIX divested its Battery Technology Solutions (BTS) division to focus on synthetic graphite production and announced a Board and CFO transition.
Key Highlights
- Delivered C-sample of synthetic graphite AAM to Panasonic Energy.
- Reaffirmed mass production for Panasonic to begin in H2 2027.
- Secured US$103 million tax credit for Riverside facility under 48C program.
- Raised A$20.7 million from institutional placement and A$0.96 million from SPP.
- Completed divestiture of Battery Technology Solutions (BTS) division.
- Cash balance at June 30, 2026, was US$59.5 million.
- Net cash used in operating activities was US$(8.64) million for the quarter.
- Estimated 6.9 quarters of funding available based on current burn rate.
Price Impact
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