U.S. Department of Commerce to Place Up to 721% Tariffs on Chinese Graphite

CHATTANOOGA, Tenn., May 21, 2025 (GLOBE NEWSWIRE) -- NOVONIX Limited (NASDAQ: NVX, ASX: NVX) (“NOVONIX” or the “Company”), a leading battery materials and technology company, applauds the preliminary affirmative determination by the U.S. Department of Commerce (“Commerce”) to impose up to 721% of countervailing duty (“CVD”) tariffs on synthetic and natural graphite anode material from China. In February, the International Trade Commission (“ITC”) announced its preliminary determination asserting that China suppressed the establishment of the graphite industry in the United States (and elsewhere) by exporting artificially cheap graphite which is a key component of lithium-ion batteries.¹

Michael O’Kronley, CEO of NOVONIX, stated, "We are encouraged by the decision of the Department of Commerce today. This decision is an important step in supporting the United States’ goal of developing critical mineral supply domestically for increased energy independence.”

Commerce is also conducting its own antidumping duty (“AD”) investigation. Any additional AD tariff imposed by Commerce will stack onto the CVD tariffs announced today. The final determinations for both investigations are expected to be issued around December 5, 2025.

This trade case was filed by the American Active Anode Material Producers, which is comprised of four members of the North American Graphite Alliance, (“NAGA”), including NOVONIX, and two additional graphite anode material producers in the United States. NAGA represents American and Canadian producers of battery-grade natural and synthetic graphite, both of which are used to create anode material for lithium-ion batteries.

NOVONIX’s Riverside facility is poised to become the first large-scale production site dedicated to high-performance synthetic graphite for the battery sector in North America. To meet increasing customer demand, the Company previously announced the execution of a definitive agreement to purchase a 182-acre parcel in the Enterprise South Industrial Park in Chattanooga, Tennessee, the future location of its second high-performance, synthetic graphite manufacturing plant. With this initial capacity at Enterprise South and its existing Riverside facility, which is scaling up to 20,000 tonnes per annum (“tpa”), NOVONIX will have total production capacity of over 50,000 tpa in Chattanooga.

This announcement has been authorised for release by Admiral Robert J Natter, USN Ret., Chairman.

About NOVONIX

NOVONIX is a leading battery technology company revolutionizing the global lithium-ion battery industry with innovative, sustainable technologies, high-performance materials, and more efficient production methods. The Company manufactures industry-leading battery cell testing equipment, is growing its high-performance synthetic graphite material manufacturing operations, and has developed a patented all-dry, zero-waste cathode synthesis process. Through advanced R&D capabilities, proprietary technology, and strategic partnerships, NOVONIX has gained a prominent position in the electric vehicle and energy storage systems battery industry and is powering a cleaner energy future.

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For NOVONIX Limited

Scott Espenshade, (investors)

Stephanie Reid, (media)

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