India, March 12 -- NOVONIX Limited (NVX) announced that it has received unanimous approval from each of the City of Chattanooga and Hamilton County for the purchase of a 182-acre parcel of land for its second mass production plant or "Enterprise South". Enterprise South will be acquired for approximately US$4.6 million and will be subject to the satisfaction of certain conditions to be specified in the purchase and sale agreement.
The company also received an estimated US$54 million in net tax and other benefits to be realised over a 15-year period and are subject to the satisfaction of a number of conditions. The transactions remain subject to final approval by the Chattanooga Industrial Development Board.
Enterprise South is expected to...