Novonix (NASDAQ:NVX) (OTCPK:NVNXF) +6.8% in early trading Tuesday after unveiling plans to build its proposed $1B synthetic graphite manufacturing plant in Chattanooga, Tennessee, with a potential second phase that could push investment to $2.

Australian-listed battery materials and technology company, Novonix, has bought land in Tennessee, USA, to expand existing operations there with a second mass production plant, funded in part with a $1.

NOVONIX Limited (NASDAQ: NVX, ASX: NVX) (“NOVONIX” or “the Company”), a leading battery materials and technology company, announced today the intention to enter a purchase and sale agreement with the City of Chattanooga,

Novonix shares surged in early trading on the ASX as the battery materials and technology company nears an agreement to purchase land in Tennessee for its second synthetic graphite mass production plant.