Novonix Shares Rise 33% After Conditional Commitment of DOE Loan

Dow Jones

Dec 17, 2024

By Stephen Nakrosis

Shares of Novonix were rising in the late trading session after the battery materials and technology company said it received a conditional commitment for a direct loan of up to $754.8 million from the Energy Department.

After the bell, the company's shares were trading 33% higher, at $2.07. The stock hit as high as $2.91 in the late session Monday.

If finalized, the loan would be applied toward partially financing construction of a facility in Chattanooga, Tenn., to manufacture synthetic graphite primarily for use in electric vehicle batteries, Novonix said.

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

December 16, 2024 17:46 ET (22:46 GMT)

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