Novonix Limited (NVX) 20-F 28 Feb 25 2024 FY Annual report (foreign) Financial data

Document and Entity Information

Document and Entity Information	12 Months Ended
	Dec. 31, 2024 shares
Document Information [Line Items]
Document Type	20-F
Transition Report	false
Amendment Flag	false
Document Period End Date	Dec. 31, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
Entity Registrant Name	NOVONIX LIMITED
Entity Central Index Key	0001859795
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
ICFR Auditor Attestation Flag	false
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding	488,733,461
Entity Voluntary Filers	No
Entity Interactive Data Current	Yes
Title of 12(b) Security	American Depositary Shares, each representing four ordinary shares, no par value
Trading Symbol	NVX
Security Exchange Name	NASDAQ
Entity File Number	001-41208
Entity Incorporation, State or Country Code	C3
Entity Address, Address Line One	Level 38
Entity Address, Address Line Two	71 Eagle Street
Entity Address, City or Town	Brisbane
Entity Address, Country	AU
Entity Address, Postal Zip Code	QLD 4000
Document Annual Report	true
Document Transition Report	false
Document Shell Company Report	false
Document Registration Statement	false
Document Accounting Standard	International Financial Reporting Standards
Entity Bankruptcy Proceedings, Reporting Current	false
Auditor Name	PricewaterhouseCoopers
Auditor Firm ID	1379
Auditor Location	Brisbane, Australia
Auditor Opinion [Text Block]	Opinion on the Financial Statements We have audited the accompanying consolidated balance sheets of NOVONIX Limited and its subsidiaries (the “Company”) as of December 31, 2024 and 2023, and the related consolidated statements of profit or loss and other comprehensive income, of changes in equity, and of cash flows for each of the two years in the period ended December 31, 2024, the six-month period ended December 31, 2022, and the year ended June 30, 2022, including the related notes (collectively referred to as the “consolidated financial statements”). In our opinion, the consolidated financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2024 and 2023, and the results of its operations and its cash flows for each of the two years in the period ended December 31, 2024, the six-month period ended December 31, 2022, and the year ended June 30, 2022, in conformity with International Financial Reporting Standards as issued by the International Accounting Standards Board. Substantial Doubt about the Company’s Ability to Continue as a Going Concern The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note 1 to the consolidated financial statements, the Company has incurred recurring losses from operations, incurred cash outflows from operating activities and is dependent upon raising additional funding to finance its ongoing expansionary activities, and has stated that these events or conditions give rise to a material uncertainty which may cast significant doubt (or raise substantial doubt as contemplated by PCAOB standards) on the Company’s ability to continue as a going concern. Management’s plans in regards to these matters are also described in Note 1. The consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty.
Business Contact
Document Information [Line Items]
Entity Address, Address Line One	Level 38
Entity Address, Address Line Two	71 Eagle Street
Entity Address, City or Town	Brisbane
Entity Address, Country	AU
Entity Address, Postal Zip Code	QLD 4000
Contact Personnel Email Address	suzie@novonixgroup.com
Contact Personnel Name	Suzanne Yeates

Consolidated statement of profi

Consolidated statement of profit or loss and other comprehensive income - USD ($)	6 Months Ended	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2024	Dec. 31, 2023	Jun. 30, 2022
Profit or loss [abstract]
Revenue	$ 2,702,276	$ 5,854,424	$ 8,054,528	$ 6,101,155
Product manufacturing and operating costs	(1,319,682)	(1,770,517)	(2,817,269)	(1,724,625)
Administrative and other expenses	(11,481,647)	(19,919,292)	(18,863,896)	(12,591,709)
Depreciation and amortization expenses	(2,572,019)	(4,568,969)	(4,740,135)	(4,214,617)
Loss on equity investment securities at fair value through profit or loss		(15,308,187)		(8,113,657)
Research and development costs	(2,020,656)	(4,849,571)	(5,750,574)	(5,102,824)
Nasdaq listing related expenses				(4,226,062)
Share based compensation	(5,354,429)	(5,523,560)	(5,621,959)	(14,530,749)
Employee benefits expense	(8,549,850)	(23,632,917)	(20,339,880)	(12,736,589)
Borrowing costs	(943,421)	(3,566,998)	(2,864,102)	(1,512,548)
Foreign currency (loss) gain	1,360,308	(1,175,500)	1,359,857	5,195,798
(Loss)/gain on fair value of derivative financial instruments		(4,536,546)	1,525,320
Other income, net	315,106	4,273,179	3,609,900	1,596,120
Loss before income tax (expense) benefit	(27,864,014)	(74,724,454)	(46,448,210)	(51,860,307)
Income tax (expense) benefit		(97,687)	199,949
Net loss	(27,864,014)	(74,822,141)	(46,248,261)	(51,860,307)
Other comprehensive loss, net of tax
Foreign currency translation of foreign operations	(2,445,538)	(3,815,336)	(1,489,976)	(17,751,688)
Total comprehensive loss	$ (30,309,552)	$ (78,637,477)	$ (47,738,237)	$ (69,611,995)
Net loss per share attributable to the ordinary equity holders - basic	$ (0.06)	$ (0.15)	$ (0.09)	$ (0.11)
Net loss per share attributable to the ordinary equity holders - diluted	$ (0.06)	$ (0.15)	$ (0.09)	$ (0.11)
Weighted average shares outstanding - basic	486,616,365	496,862,010	487,474,460	464,437,628
Weighted average shares outstanding - diluted	486,616,365	496,862,010	487,474,460	464,437,628

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Dec. 31, 2024	Dec. 31, 2023
Current assets
Cash and cash equivalents	$ 42,557,621	$ 78,713,885
Trade and other receivables	8,158,174	3,564,333
Inventory	1,383,904	2,000,808
Prepayments	1,700,788	1,859,797
Escrow reserves	1,452,187	794,500
Assets classified as held for sale	2,044,673	2,219,952
Total current assets	57,297,347	89,153,275
Non-current assets [abstract]
Property, plant and equipment	149,310,343	139,793,447
Investment securities at fair value through profit or loss		16,666,665
Right-of-use assets	6,356,771	4,484,521
Intangible assets and goodwill	11,975,024	11,990,309
Other assets	1,156,056	1,254,826
Total non-current assets	168,798,194	174,189,768
Total assets	226,095,541	263,343,043
Current liabilities
Trade and other payables	8,524,141	5,760,061
Contract liabilities	126,056	285,221
Lease liabilities	522,297	345,933
Derivative financial instruments	5,368,624	866,278
Borrowings	31,668,810	29,895,899
Current tax liabilities	31,966	107,458
Total current liabilities	46,241,894	37,260,850
Non-current liabilities
Contract liabilities	3,000,000	3,000,000
Lease liabilities	6,488,119	4,479,627
Borrowings	32,775,271	34,666,291
Total non-current liabilities	42,263,390	42,145,918
Total liabilities	88,505,284	79,406,768
Net assets	137,590,257	183,936,275
EQUITY
Contributed equity	367,537,075	338,425,286
Reserves	29,723,162	30,358,828
Accumulated losses	(259,669,980)	(184,847,839)
Total equity	$ 137,590,257	$ 183,936,275

Consolidated Statements of Chan

Consolidated Statements of Changes in Equity - USD ($)	Total	Contributed equity	Accumulated losses	Share Based Payments Reserve	Foreign Currency Translation Reserve	Convertible Loan Note Reserve
Balance at the beginning of the year at Jun. 30, 2021	$ 138,449,834	$ 167,744,960	$ (58,875,257)	$ 19,996,754	$ 5,060,282	$ 4,523,095
Net loss	(51,860,307)		(51,860,307)
Other comprehensive income (loss)	(17,751,688)				(17,751,688)
Total comprehensive (loss)/income	(69,611,995)		(51,860,307)		(17,751,688)
Transactions with owners in their capacity as owners:
Contributions of equity, net of transaction costs	170,266,882	170,266,882
Share-based payments	12,028,757			12,028,757
Balance at the end of the year at Jun. 30, 2022	251,133,478	338,011,842	(110,735,564)	32,025,511	(12,691,406)	4,523,095
Net loss	(27,864,014)		(27,864,014)
Other comprehensive income (loss)	(2,445,538)				(2,445,538)
Total comprehensive (loss)/income	(30,309,552)		(27,864,014)		(2,445,538)
Transactions with owners in their capacity as owners:
Contributions of equity, net of transaction costs	96,356	96,356
Share-based payments	5,135,987			5,135,987
Balance at the end of the year at Dec. 31, 2022	226,056,269	338,108,198	(138,599,578)	37,161,498	(15,136,944)	4,523,095
Net loss	(46,248,261)		(46,248,261)
Other comprehensive income (loss)	(1,489,976)				(1,489,976)
Total comprehensive (loss)/income	(47,738,237)		(46,248,261)		(1,489,976)
Transactions with owners in their capacity as owners:
Contributions of equity, net of transaction costs	317,088	317,088
Share-based payments	5,301,155			5,301,155
Balance at the end of the year at Dec. 31, 2023	183,936,275	338,425,286	(184,847,839)	42,462,653	(16,626,920)	4,523,095
Net loss	(74,822,141)		(74,822,141)
Other comprehensive income (loss)	(3,815,336)				(3,815,336)
Total comprehensive (loss)/income	(78,637,477)		(74,822,141)		(3,815,336)
Transactions with owners in their capacity as owners:
Contributions of equity, net of transaction costs	29,111,789	29,111,789
Share-based payments	3,179,670			3,179,670
Balance at the end of the year at Dec. 31, 2024	$ 137,590,257	$ 367,537,075	$ (259,669,980)	$ 45,642,323	$ (20,442,256)	$ 4,523,095

Consolidated Statement of Cash

Consolidated Statement of Cash Flows - USD ($)	6 Months Ended	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2024	Dec. 31, 2023	Jun. 30, 2022
Cash flows from operating activities
Receipts from customers (inclusive of consumption tax)	$ 4,095,716	$ 7,902,051	$ 7,708,839	$ 6,173,683
Payments to suppliers and employees (inclusive of consumption tax)	(22,516,447)	(50,303,125)	(45,629,733)	(37,928,213)
Interest received	18,242	1,372,651	1,621,201	8,314
Payment of borrowing costs	(898,461)	(1,766,465)	(1,872,154)	(1,465,946)
Government grants received	434,379	2,377,119	1,943,424	3,982,807
Net cash outflow from operating activities	(18,866,571)	(40,417,769)	(36,228,423)	(29,229,355)
Cash flows from investing activities
Payments for exploration assets	(18,534)	(27,116)	(13,665)	(74,041)
Payments for escrow funds	(934,628)			(14,520,001)
Proceeds from release of escrow funds	1,887,579		8,343,107	4,429,445
Payments for investments				(12,767,817)
Payments for intangibles				(27,686)
Payments for security deposits		(657,688)	(882,325)	(161,812)
Refunds of security deposit				10,000
Government grants received		12,391,330
Payments for property, plant and equipment	(24,497,314)	(29,879,456)	(19,182,131)	(83,688,360)
Net cash outflow from investing activities	(23,562,897)	(18,172,930)	(11,735,014)	(106,800,272)
Cash flows from financing activities
Proceeds on issue of shares	12,061	28,818,616	338,327	150,967,705
Payment of share issue expenses	(8,024)	(1,276,436)	(12,529)	(137,982)
Proceeds from convertible note issues			30,000,000
Payment of convertible notes issue expenses			(47,338)
Payment of withholding tax - Performance rights	(131,506)	(603,932)	(295,043)	(2,501,992)
Proceeds from borrowings			752,831	33,241,890
Principal elements of lease repayments	(166,741)	(296,865)	(353,378)	(308,405)
Repayment of borrowings	(483,620)	(1,428,429)	(1,073,082)	(573,445)
Net cash inflow (outflow) from financing activities	(777,830)	25,212,954	29,309,788	180,687,771
Net (decrease) increase in cash and cash equivalents	(43,207,298)	(33,377,745)	(18,653,649)	44,658,144
Effects of foreign currency	(490,892)	(2,778,519)	(1,671,638)	(4,522,034)
Cash and cash equivalents at the beginning of the year	142,737,362	78,713,885	99,039,172	102,601,252
Cash and cash equivalents at the end of the year	$ 99,039,172	$ 42,557,621	$ 78,713,885	$ 142,737,362

Insider Trading Policies and Pr

Insider Trading Policies and Procedures	12 Months Ended
	Dec. 31, 2024
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Cybersecurity Risk Management,

Cybersecurity Risk Management, Strategy and Governance	12 Months Ended
	Dec. 31, 2024
Cybersecurity Risk Management, Strategy, and Governance [Line Items]
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]	Item 16K. Cybersecurity Risk Management and Strategy We believe an effective cybersecurity program is critical to guard the confidentiality, integrity, and availability of our information systems and data residing in those systems. We have built and continue to evolve processes for assessing, identifying, and managing material risks from cybersecurity threats. We have embedded the oversight and management of cybersecurity risk within our enterprise risk management framework to help drive a company-wide culture of cybersecurity risk management, and we have established policies and procedures as well as a reporting line of governance that guide our cybersecurity risk management program. The Company’s Information Technology Department uses cybersecurity risk assessments, security monitoring tools, phishing testing, security training, system scanning, and penetration testing, among other technology and human resources, to monitor and identify cybersecurity threats and incidents. We engage a third party to perform a 24/7 cybersecurity monitoring, detection and response service . With the third party’s assistance, our Information Technology Department track metrics that demonstrate our cybersecurity risk posture, including identified cybersecurity threats and risks, security awareness proficiency of employees, and system vulnerabilities and patching requirements. We require all third-party vendors that may have access to Company, employee, customer, or other third-party data to undergo a vetting process prior to being approved and onboarded. The vetting process includes a review of the vendor’s relevant policies and procedures, technology architecture, business practices and cybersecurity profile. Third-party vendor agreements include confidentiality obligations and specify data elements that the third party has access to, how the third party protects the data, and procedures for the return or destruction of protected data. The vendor also must report all cybersecurity incidents immediately to the Company’s responsible functional manager and to the Director of Information Technology. In addition to the above processes and resources, we maintain a cybersecurity incident response process. Within the Information Technology department, we have an Incident Response Team, which maintains and is responsible for communicating any cybersecurity incidents in accordance with a written incident response plan (the “Incident Response Plan”). The Incident Response Plan defines responsibilities and immediate actions necessary to mitigate risk, report on the incident to management, and identify necessary steps to remediate the incident and prevent future incidents. The Incident Response Team is responsible for identifying and assessing the impact of several factors, including duration of the breach or other incident, the number of systems and users affected, the actual or potential system downtime and associated financial impact, as well as the cost and timing of system and data recovery. Our Director of Information Technology is responsible for reporting cybersecurity incidents immediately to our senior management team. Depending on the nature and severity of an incident, the incident may also need to be reported to our Management Disclosure Committee to determine whether the incident is or is reasonably likely to become material and whether the Company must disclose the incident publicly, as well as to the Audit and Risk Management Committee and the Board of Directors. Governance Our Board of Directors recognizes the importance of managing the risk of cybersecurity threats to the Company . The Board is responsible for overseeing our enterprise risk management activities in general, and each of our Board committees assists the Board in the role of risk oversight. The Audit and Risk Management Committee is responsible for, among other things, overseeing our compliance with internal controls and our management of enterprise risks, including cybersecurity risks and risk mitigation framework. The Audit and Risk Management Committee meets at least twice each year and as often as necessary to fulfill its responsibilities. Our senior management team, which includes our CEO, CFO, Chief Legal and Administrative Officer, and our Chief Operating Officer, together with the Director of Information Technology , reports on a regular basis to the Audit and Risk Management Committee on cybersecurity risks and trends and other information necessary to assess such risks and oversee the development and performance of our risk mitigation processes. The Director of Information Technology leads our Information Technology Department and is responsible for overseeing our information security program . Reporting to our Chief Operating Officer, the Director of Information Technology has over 30 years of industry experience, including serving in similar roles leading and overseeing information and data security at other public companies. The Director of Information Technology is responsible for assessing and managing cybersecurity risks, as well as communicating cybersecurity incidents, matters and trends to Company management, the Audit and Risk Management Committee, and the Board of Directors. Team members who support our information security program have relevant educational and industry experience and regularly report to the Director of Information Technology. Our Information Technology Department regularly reports to senior management and other relevant teams on various cybersecurity threats, assessments, and findings. We face risks from cybersecurity threats that could have a material adverse effect on our business, strategy, financial condition, results of operations, cash flows or reputation. However, to date, we have not experienced any cybersecurity incidents that have had or are reasonably likely to have such a material adverse effect . See Item 3. Key Information—D. Risk Factors (“ Our systems and data may be subject to disruptions or other security incidents, and we may face alleged violations of laws, regulations, or other obligations relating to handling our employees' personal data or confidential data of our customers and other business partners that could result in liability and adversely impact our reputation and future sales. ”).
Cybersecurity Risk Management Third Party Engaged [Flag]	true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag]	true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag]	false
Cybersecurity Risk Board of Directors Oversight [Text Block]	Governance Our Board of Directors recognizes the importance of managing the risk of cybersecurity threats to the Company . The Board is responsible for overseeing our enterprise risk management activities in general, and each of our Board committees assists the Board in the role of risk oversight. The Audit and Risk Management Committee is responsible for, among other things, overseeing our compliance with internal controls and our management of enterprise risks, including cybersecurity risks and risk mitigation framework. The Audit and Risk Management Committee meets at least twice each year and as often as necessary to fulfill its responsibilities. Our senior management team, which includes our CEO, CFO, Chief Legal and Administrative Officer, and our Chief Operating Officer, together with the Director of Information Technology , reports on a regular basis to the Audit and Risk Management Committee on cybersecurity risks and trends and other information necessary to assess such risks and oversee the development and performance of our risk mitigation processes. The Director of Information Technology leads our Information Technology Department and is responsible for overseeing our information security program . Reporting to our Chief Operating Officer, the Director of Information Technology has over 30 years of industry experience, including serving in similar roles leading and overseeing information and data security at other public companies. The Director of Information Technology is responsible for assessing and managing cybersecurity risks, as well as communicating cybersecurity incidents, matters and trends to Company management, the Audit and Risk Management Committee, and the Board of Directors. Team members who support our information security program have relevant educational and industry experience and regularly report to the Director of Information Technology. Our Information Technology Department regularly reports to senior management and other relevant teams on various cybersecurity threats, assessments, and findings. We face risks from cybersecurity threats that could have a material adverse effect on our business, strategy, financial condition, results of operations, cash flows or reputation. However, to date, we have not experienced any cybersecurity incidents that have had or are reasonably likely to have such a material adverse effect . See Item 3. Key Information—D. Risk Factors (“ Our systems and data may be subject to disruptions or other security incidents, and we may face alleged violations of laws, regulations, or other obligations relating to handling our employees' personal data or confidential data of our customers and other business partners that could result in liability and adversely impact our reputation and future sales. ”).
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]	. The Board is responsible for overseeing our enterprise risk management activities in general, and each of our Board committees assists the Board in the role of risk oversight. The Audit and Risk Management Committee is responsible for, among other things, overseeing our compliance with internal controls and our management of enterprise risks, including cybersecurity risks and risk mitigation framework.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]	The Audit and Risk Management Committee meets at least twice each year and as often as necessary to fulfill its responsibilities. Our senior management team, which includes our CEO, CFO, Chief Legal and Administrative Officer, and our Chief Operating Officer, together with the Director of Information Technology , reports on a regular basis to the Audit and Risk Management Committee on cybersecurity risks and trends and other information necessary to assess such risks and oversee the development and performance of our risk mitigation processes.
Cybersecurity Risk Role of Management [Text Block]	The Director of Information Technology leads our Information Technology Department and is responsible for overseeing our information security program . Reporting to our Chief Operating Officer, the Director of Information Technology has over 30 years of industry experience, including serving in similar roles leading and overseeing information and data security at other public companies. The Director of Information Technology is responsible for assessing and managing cybersecurity risks, as well as communicating cybersecurity incidents, matters and trends to Company management, the Audit and Risk Management Committee, and the Board of Directors. Team members who support our information security program have relevant educational and industry experience and regularly report to the Director of Information Technology. Our Information Technology Department regularly reports to senior management and other relevant teams on various cybersecurity threats, assessments, and findings.
Cybersecurity Risk Management Positions or Committees Responsible [Flag]	true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]	Our senior management team, which includes our CEO, CFO, Chief Legal and Administrative Officer, and our Chief Operating Officer, together with the Director of Information Technology , reports on a regular basis to the Audit and Risk Management Committee on cybersecurity risks and trends and other information necessary to assess such risks and oversee the development and performance of our risk mitigation processes.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]	. Reporting to our Chief Operating Officer, the Director of Information Technology has over 30 years of industry experience, including serving in similar roles leading and overseeing information and data security at other public companies. The Director of Information Technology is responsible for assessing and managing cybersecurity risks, as well as communicating cybersecurity incidents, matters and trends to Company management, the Audit and Risk Management Committee, and the Board of Directors. Team members who support our information security program have relevant educational and industry experience and regularly report to the Director of Information Technology. Our Information Technology Department regularly reports to senior management and other relevant teams on various cybersecurity threats, assessments, and findings.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag]	true

Summary of Material Accounting

Summary of Material Accounting Policy Information	12 Months Ended
	Dec. 31, 2024
Disclosure of initial application of standards or interpretations [abstract]
Summary of Material Accounting Policy Information	Note 1 Summary of Material Accounting Policy Information Corporate Information NOVONIX Limited (“NOVONIX,” the “Company,” or the “Group”) is a battery technology and materials business that provides advanced products and mission critical services to leading battery manufacturers, materials companies, automotive original equipment manufacturers (“OEMs”) as well as consumer electronics manufacturers at the forefront of the global electrification economy. NOVONIX Limited is referred to in these financial statements as the "Parent Entity". NOVONIX was incorporated under the laws of Australia in 2012 under the name Graphitecorp Pty Limited. In 2015, the Company completed an initial public offering of its ordinary shares and the listing of its ordinary shares on the Australian Securities Exchange, or the ASX, and changed the Company’s name to GRAPHITECORP Limited. In 2017, the Company changed its name to NOVONIX Limited. The Company’s principal place of business is located at Level 38, 71 Eagle Street, Brisbane, Queensland 4000, Australia, and the Company’s registered office is located at Level 11, 66 Eagle Street, Brisbane Queensland, Australia. The financial statements were authorized for issue by the Directors on February 28, 2025. The Directors have the power to amend and reissue the financial statements. Basis of Preparation These general-purpose consolidated financial statements of the Company have been prepared in accordance with International Financial Reporting Standards ("IFRS") as issued by the International Accounting Standards Board (“IASB”). Material accounting policies adopted in the preparation of these consolidated financial statements are presented below and have been consistently applied unless stated otherwise. Except for cash flow information, the consolidated financial statements have been prepared on an accruals basis and are based on historical costs, modified, where applicable, by the measurement at fair value of selected non-current assets, financial assets and financial liabilities. Applying Materiality Management provides the specific accounting policies and disclosures required by IFRS unless the information is not applicable or is considered immaterial to the decision-making of the primary users of these financial statements. Going Concern The consolidated financial statements have been prepared on a going concern basis, which contemplates continuity of normal business activities and the realization of assets and settlement of liabilities in the normal course of business. For the year ended December 31, 2024, the Company incurred a net loss of $ 74.8 million (year ended December 31, 2023: $ 46.2 million) and net operating cash outflows of $ 40.4 million (year ended December 31, 2023: $ 36.2 million). As of December 31, 2024, the Company has a cash balance of $ 42.6 million (December 31, 2023: $ 78.7 million) and net current asset s o f $ 11.1 million (December 31 , 2023: $ 51.9 million). The net loss and cash outflows incurred during the period principally relate to the Company continuing to execute its expansion plans to reach a production capacity of 150,000 tpa. This will involve significant capital expenditure to scale operations in line with customer offtake agreements, as well as current and future customer demand. The funding of these expansionary activities will require additional funding beyond the existing cash balance as of December 31, 2024, and forecasted customer inflows, in the twelve months from the date of approval of these financial statements. These conditions give rise to a material uncertainty which may cast significant doubt (or raise substantial doubt as contemplated by Public Company Accounting Oversight Board (“PCAOB”) standards) over the Company’s ability to continue as a going concern. Should the Company be unable to continue as a going concern, it may be unable to realize its assets and discharge its liabilities in the normal course of business, and at amounts stated in the financial report. The ability of the Company to continue as a going concern is principally dependent upon one or more of the following • continuing to be able to claim balances against the USD$ 100 grant from the Office of Manufacturing & Energy Supply Chains ("MESC") of the U.S. Department of Energy ("DOE"). During the year ended December 31, 2024, the Company submitted $ 19.2 million in reimbursement requests to the DOE Office of MESC for investments made at its Riverside facility in Chattanooga, Tennessee. An additional $ 5.1 million in reimbursement requests have been submitted to the DOE to the date of issuance of the financial statements. • the ability of the Company to raise funds as and when necessary, from either customers, governments, and/or investors in the form of debt or equity; • the successful and profitable growth of the battery materials, battery consulting, and battery technology businesses; and • the ability of the Company to meet its cash flow forecasts. The directors believe that the going concern basis of preparation is appropriate as the Company has a strong history of being able to raise capital from debt and equity sources, including through the issue of: • $ 25.8 million equivalent to 68.6 million ordinary shares to eligible shareholders pursuant to a share purchase plan in January 2025; · • $ 5 million equivalent to 12.8 million ordinary shares to Phillips 66 in a conditional placement that in January 2025; • $ 26.6 million equivalent to 74.1 million ordinary shares in a fully underwritten institutional placement in November 2024; and · • $ 30 million of unsecured convertible loan notes to LG Energy Solution, Ltd. ("LG Energy Solution" or "LGES")) in June 2023 (Note 22 - Unsecured convertible loan notes and derivative financial instruments ). The Company is continuing to actively engage with strategic partners, customers , investors, and government agencies, to source additional funding to support the Company's growth and fund the planned expansionary activities. In addition, in April 2024, the Company was selected to receive a US$ 103 million tax credit (the “48C tax credit”) under the Qualifying Advanced Energy Project Allocation Program (the “48C program”), to support production of critical battery materials from its Riverside facility in Chattanooga, Tennessee. No funds have been claimed against the 48C tax credit mainly as the qualifying asset has not been placed in service as of December 31, 2024, and to the date of issuance of the financial statements. These consolidated financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or the amounts or classification of liabilities and appropriate disclosures that may be necessary should the Company be unable to continue as a going concern. Principles of Consolidation These consolidated financial statements incorporate the assets and liabilities of all subsidiaries of NOVONIX Limited as of December 31, 2024, and the results of all subsidiaries for the year then ended. Subsidiaries are all those entities over which the Company has control. The Company controls an entity when the Company is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power to direct the activities of the entity. Subsidiaries are fully consolidated from the date on which control is transferred to the Company. They are de-consolidated from the date that control ceases. Intercompany transactions, balances and unrealized gains on transactions between entities in the Company are eliminated. Unrealized losses are also eliminated unless the transaction provides evidence of the impairment of the asset transferred. The accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the Company. Where equity instruments are issued in a business combination, the fair value of the instruments is their published market price as at the date of exchange. Costs arising from a business combination are expensed when incurred. The consideration transferred also includes the fair value of any asset or liability resulting from a contingent consideration arrangement. With limited exceptions, all identifiable assets acquired, and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date. The excess of the consideration transferred, amount of any non-controlling interest in the acquired entity, over the net fair value of the Company's share of the identifiable net assets acquired is recognized as goodwill. If the consideration transferred of the acquisition is less than the Company's share of the net fair value of the identifiable net assets of the subsidiary, the difference is recognized as a gain in the profit and loss in the Consolidated Statement of Profit or Loss and Other Comprehensive Income, but only after a reassessment of the identification and measurement of the net assets acquired. Where settlement of any part of the cash consideration is deferred, the amounts payable in the future are discounted to their present value, as at the date of exchange. The discount rate used is the entity's incremental borrowing rate, being the rate at which a similar borrowing could be obtained from an independent financier under comparable terms and conditions. Fair Value Measurements Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. For some assets and liabilities, observable market transactions or market information is available. For other assets and liabilities, observable market transactions or market information might not be available. When a price for an identical asset or liability is not observable, another valuation technique is used. To increase consistency and comparability in fair value measurements, there are three levels of the fair value hierarchy based on the inputs used: • Level 1 – Inputs are unadjusted quoted prices in active markets for identical assets or liabilities, • Level 2 – Inputs are inputs other than quoted prices included within Level 1, which are observable for the asset or liability either directly or indirectly, • Level 3 – Inputs are unobservable inputs for the asset or liability. The Company recognizes transfers between levels of the fair value hierarchy at the end of the reporting period during which the change has occurred. Income Tax Expense (Benefit) The income tax expense or benefit for the period is the tax payable on that period’s taxable income based on the applicable income tax rate for each jurisdiction, adjusted by the changes in deferred tax assets and liabilities attributable to temporary differences, unused tax losses and the adjustment recognized for prior periods, where applicable. Deferred tax assets and liabilities are recognized for temporary differences at the tax rates expected to be applied when the assets are recovered or liabilities are settled, based on those tax rates that are enacted or substantively enacted, except for: • When the deferred income tax asset or liability arises from the initial recognition of goodwill or an asset or liability in a transaction that is not a business combination and that, at the time of the transaction, affects neither the accounting nor taxable profits; or • When the taxable temporary difference is associated with interests in subsidiaries, associates or joint ventures and the timing of the reversal can be controlled, and it is probable that the temporary difference will not reverse in the foreseeable future. Deferred tax assets are recognized for deductible temporary differences and unused tax losses only if it is probable that future taxable amounts will be available to utilize those temporary differences and losses. The carrying amount of recognized and unrecognized deferred tax assets are reviewed at each reporting date. Deferred tax assets recognized are reduced to the extent that it is no longer probable that future taxable profits will be available for the carrying amount to be recovered. Previously unrecognized deferred tax assets are recognized to the extent that it is probable that there are future taxable profits available to recover the asset. Deferred tax assets and liabilities are offset only where there is a legally enforceable right to offset current tax assets against current tax liabilities and deferred tax assets against deferred tax liabilities; and they relate to the same taxable authority on either the same taxable entity or different taxable entities which intend to settle simultaneously. Revenue Recognition Revenue from contracts with customers is recognized when control of the goods is transferred, or services are provided to the customer at an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods or services. Sales of Goods Revenue for the hardware is recognized at a point in time when the hardware is delivered and the legal title has passed. Consulting Services The consulting division provides battery cell design, implementation and support services under fixed-price and variable price contracts. Revenue from providing services is recognized in the accounting period in which the services are rendered. For fixed-price contracts, revenue is recognized based on the actual service provided to the end of the reporting period relative to the remaining services under the contract because the customer receives and uses the benefits simultaneously. This is determined based on the actual labor hours spent relative to the total expected labor hours. Where the contracts include multiple performance obligations, the transaction price will be allocated to each performance obligation based on the stand-alone selling prices. Where these are not directly observable, they are estimated based on expected cost-plus margin. Contract Balances Trade and Other Receivables A receivable is recognized when the Company’s right to consideration is unconditional, which is generally when goods are delivered or services are performed, as only the passage of time is required before payment is due. Contract Liabilities A contract liability is the obligation to transfer goods or provide services to a customer for which the Company has received consideration (or an amount of consideration is due) from the customer. If a customer pays consideration before the Company transfers goods or services to the customer, a contract liability is recognized when the payment is made, or the payment is due (whichever is earlier). Contract liabilities are recognized as revenue when the Company performs under the contract. Other Income Interest Interest income is recognized as interest accrues using the effective interest method. This is a method of calculating the amortized cost of a financial asset and allocating the interest income over the relevant period using the effective interest rate, which is the rate that discounts estimated future cash receipts through the expected life of the financial asset to the net carrying amount of the financial asset. Grant Revenue Grants from government bodies, including transferable 48C tax credits, are recognized where there is a reasonable assurance that the grant will be received, and the Company will comply with all attached conditions. When a grant relates to an expense item, it is recognized as income on a systematic basis over the periods that the related expenses, for which it is intended to compensate, are expensed. Where a grant relates to an asset, it is recognized as an adjustment to the carrying amount of the related asset. Operating Segments Operating segments are presented using the ‘management approach’, where the information presented is on the same basis as the internal reports provided to the Chief Operating Decision Makers ("CODMs"). The CODMs are responsible for the allocation of resources to operating segments and assessing their performance. Current and Non-Current Classification Assets and liabilities are presented in the balance sheet based on current and non-current classification. An asset is classified as current when: it is either expected to be realized or intended to be sold or consumed in normal operating cycle; it is held primarily for the purpose of trading; it is expected to be realized within 12 months after the reporting period; or the asset is cash or cash equivalent unless restricted from being exchanged or used to settle a liability for at least 12 months after the reporting period. All other assets are classified as non-current. A liability is classified as current when: it is either expected to be settled in normal operating cycle; it is held primarily for the purpose of trading; it is due to be settled within 12 months after the reporting period; or there is no right to defer the settlement of the liability for at least 12 months after the reporting period. All other liabilities are classified as non-current. Deferred tax assets and liabilities are always classified as non-current. Cash and Cash Equivalents Cash and cash equivalents include cash on hand, deposits held at call with financial institutions, other short-term, highly liquid investments with original maturities of three months or less that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value. Inventories Inventories are measured at the lower of cost and net realizable value. Cost is determined based on the standard cost method, which approximates first-in, first-out. The cost of manufactured products includes direct materials. Exploration and Evaluation Assets Exploration and evaluation expenditure incurred is accumulated in respect of each identifiable area of interest. Such expenditures comprise net direct costs and an appropriate portion of related overhead expenditure but do not include overheads or administration expenditure not having a specific nexus with a particular area of interest. These costs are only carried forward to the extent that they are expected to be recouped through the successful development of the area or where activities in the area have not yet reached a stage which permits reasonable assessment of the existence of economically recoverable reserves and active or significant operations in relation to the area are continuing. A regular review has been undertaken on each area of interest to determine the appropriateness of continuing to carry forward costs in relation to that area of interest. An impairment charge is recognized when the Directors are of the opinion that the carried forward net cost may not be recoverable or the right of tenure in the area lapses. When production commences, the accumulated costs for the relevant area of interest are amortized over the life of the area according to the rate of depletion of the economically recoverable reserves. Borrowings Borrowings are initially recognized at fair value, net of transaction costs incurred. Borrowings are subsequently measured at amortized cost. Any difference between the proceeds (net of transaction costs) and the redemption amount is recognized in profit or loss over the period of the borrowings using the effective interest method. The fair value of the liability (borrowings) portion of a convertible bond is determined using a market interest rate for an equivalent non-convertible bond. This amount is recorded as a liability on an amortized cost basis until extinguished on conversion or maturity of the bonds. The remainder of the proceeds is allocated to the conversion option. Alternatively, the fair value of the conversion option is determined using Monte Carlo Simulation methodology, with the remainder of the proceeds allocated to the liability (borrowings) portion. Convertible Loan Notes Convertible loan notes are initially measured at fair value less transaction costs. Amortized cost is calculated as the amount at which the loan note is measured at initial recognition less principal repayments and adjusted for any cumulative amortization of the difference between that initial amount and the maturity amount calculated using the effective interest method. The effective interest method is used to allocate interest expense over the relevant period and is equivalent to the rate that discounts estimated future cash payments over the expected life of the financial instrument to the net carrying amount of the financial liability. Non-derivative financial liabilities, other than financial guarantees, are subsequently measured at amortized cost. Gains or losses are recognized in profit or loss through the amortization process and when then financial liability is derecognized. Convertible notes are classified as current liabilities unless, at the end of the reporting period, the Company has a right to defer settlement of the liability for at least 12 months after the reporting period. Where convertible notes can be settled, at the option of the counterparty, by the transfer of the entity’s own equity instruments, such settlement terms do not affect the classification of the liability as current or non-current where the option is classified as an equity instrument. With respect to the Company’s convertible notes, the conversion option is accounted for as a derivative liability and can be exercised by the holder at any time - as disclosed in Note 22. As such, the conversion feature must be considered when assessing whether the Company has a right to defer settlement. Property, Plant, and Equipment Property, plant, and equipment is stated at historical cost less accumulated depreciation and impairment. Historical cost includes expenditure that is directly attributable to the acquisition of the items. Depreciation is calculated on a straight-line basis to write off the net cost of each item of property, plant and equipment (excluding land) over their expected useful lives as follows: Buildings ​ 25 - 39 years Plant and equipment ​ 3 - 20 years The residual values, useful lives and depreciation methods are reviewed, and adjusted if appropriate, at each reporting date. An item of plant and equipment is derecognized upon disposal or when there is no future economic benefit to the Company. Gains and losses between the carrying amount and the disposal proceeds are taken to profit or loss. Trade and Other Payables These amounts represent liabilities for goods and services provided to the Company prior to the end of the financial year and which are unpaid. Due to their short-term nature, they are measured at amortized cost and are not discounted. The amounts are unsecured and are usually paid within 30 days of recognition. Leases Lease terms are negotiated on an individual basis and contain a wide range of different terms and conditions. The lease agreements do not impose any covenants other than the security interests in the leased assets that are held by the lessor. Leased assets may not be used as security for borrowing purposes. Assets and liabilities arising from a lease are initially measured on a present value basis. Lease liabilities include the net present value of the following lease payments: • fixed payments (including in-substance fixed payments), less any lease incentives receivable, • variable lease payments that are based on an index or a rate, initially measured using the index or rate as at the commencement date, • amounts expected to be payable by the Company under residual value guarantees, • the exercise price of a purchase option if the Company is reasonably certain to exercise that option, • payments of penalties for terminating the lease, if the lease term reflects the Company exercising that option. Lease payments to be made under reasonably certain extension options are also included in the measurement of the liability. The lease payments are discounted using the interest rate implicit in the lease. If that rate cannot be readily determined, which is generally the case for leases in the Company, the lessee’s incremental borrowing rate is used, being the rate that the individual lessee would have to pay to borrow the funds necessary to obtain an asset of similar value to the right-of-use asset in a similar economic environment with similar terms, security and conditions. To determine the incremental borrowing rate, the Company: • where possible, uses recent third-party financing received by the individual lessee as a starting point, adjusted to reflect changes in financing conditions since third party financing was received, • uses a build-up approach that starts with a risk-free interest rate adjusted for credit risk for leases held by NOVONIX Limited, which does not have recent third-party financing, • makes adjustments specific to the lease, e.g., term, country, currency and security. The Company is exposed to potential future increases in variable lease payments based on an index or rate, which are not included in the lease liability until they take effect. When adjustments to lease payments based on an index or rate take effect, the lease liability is reassessed and adjusted against the right-of-use asset. Lease payments are allocated between principal and finance cost. The finance cost is charged to profit or loss over the lease period so as to produce a constant periodic rate of interest on the remaining balance of the liability for each period. Right-of-use assets are measured at cost comprising the following: • the amount of the initial measurement of lease liability, • any lease payments made at or before the commencement date less any lease incentives received, • any initial direct costs, • restoration costs. Right-of-use assets are generally depreciated over the shorter of the asset's useful life and the lease term on a straight-line basis. If the Company is reasonably certain to exercise a purchase option, the right-of-use asset is depreciated over the underlying asset’s useful life. The Company does not revalue the right-of-use buildings held by the Company. Payments associated with short-term leases of equipment and vehicles and all leases of low-value assets are recognized on a straight-line basis as an expense in profit or loss. Short-term leases are leases with a lease term of 12 months or less. Low-value assets comprise IT equipment and small items of office furniture. Extension options are included in property and equipment leases across the Company. These are used to maximize operational flexibility in terms of managing the assets used in the Company’s operations. The extension options held are exercisable only by the Company and not by the lessor. When the Company revises its estimate of the term of any lease (because, for example, it re-assesses the probability of a lessee extension or termination option being exercised), it adjusts the carrying amount of the lease liability to reflect the payments to make over the revised term, which are discounted using a revised discount rate. The carrying value of lease liabilities is similarly revised when the variable element of future lease payments dependent on a rate or index is revised, except the discount rate remains unchanged. In both cases an equivalent adjustment is made to the carrying value of the right-of-use asset, with the revised carrying amount being amortized over the remaining (revised) lease term. If the carrying amount of the right-of-use asset is adjusted to zero, any further reduction is recognized in profit or loss. When the Company renegotiates the contractual terms of a lease with the lessor, the accounting depends on the nature of the modification: • if the renegotiation results in one or more additional assets being leased for an amount commensurate with the standalone price for the additional rights-of-use obtained, the modification is accounted for as a separate lease in accordance with the above policy, • in all other cases where the renegotiated increases the scope of the lease (whether that is an extension to the lease term, or one or more additional assets being leased), the lease liability is remeasured using the discount rate applicable on the modification date, with the right-of-use asset being adjusted by the same amount, • if the renegotiation results in a decrease in the scope of the lease, both the carrying amount of the lease liability and right-of-use asset are reduced by the same proportion to reflect the partial of full termination of the lease with any difference recognized in profit or loss. The lease liability is then further adjusted to ensure its carrying amount reflects the amount of the renegotiated payments over the renegotiated term, with the modified lease payments discounted at the rate applicable on the modification date. The right-of-use asset is adjusted by the same amount. Specific details about the Company’s leasing policy are provided i n Note 20. Investments and Other Financial Assets Classification The Company classifies its financial assets in the following measurement categories: • those to be measured subsequently at fair value (either through OCI or through profit or loss), • those to be measured at amortized cost. The classification depends on the entity’s business model for managing the financial assets and the contractual terms of the cash flows. For assets measured at fair value, gains and losses will either be recorded in profit or loss or OCI. For investments in equity instruments that are not held for trading, this will depend on whether the Company has made an irrevocable election at the time of initial recognition to account for the equity investment at fair value through other comprehensive income (FVOCI). Recognition and Derecognition Regular way purchases and sales of financial assets are recognized on trade date, being the date on which the Company commits to purchase or sell the asset. Financial assets are derecognized when the rights to receive cash flows from the financial assets have expired or have been transferred and the Company has transferred substantially all the risks and rewards of ownership. Measurement At initial recognition, the Company measures a financial asset at its fair value plus, in the case of a financial asset not at fair value through profit or loss (FVPL), transaction costs that are directly attributable to the acquisition of the financial asset. Transaction costs of financial assets carried at FVPL are expensed in profit or loss. The Company subsequently measures all equity investments at fair value. Where the Company’s management has elected to present fair value gains and losses on equity investments in OCI, there is no subsequent reclassification or fair value gains and losses to profit or loss following the derecognition of the investment. Dividends from such investments continue to be recognized in the consolidated statement of profit or loss and other comprehensive (loss) income as other income when the Company’s right to receive payment is established. Changes in fair value of financial assets at FVPL are recognized in other gains/(losses) in the Consolidated Statement of Profit or Loss and Other Comprehensive Income as applicable. Impairment losses (and reversal of impairment losses) on equity investments measured at FVOCI are not reported separately from other changes in fair value. Employee Benefits Short-Term Employee Benefits Liabilities for wages and salaries, including non-monetary benefits, annual leave and long service leave expected to be settled within 12 months of the reporting date are measured at the amounts expected to be paid when the liabilities are settled. Short-term incentives are payable on achievement of mutually agreed KPIs each fiscal year with short-term incentives being payable in either cash or by way of the issue of fully paid ordinary shares. The Company has historically paid short- term incentives in cash. Other Long-Term Employee Benefits The liability for long service leaves not expected to be settled within 12 months of the reporting date is measured as the present value of expected future payments to be made in respect of services provided by employees up to the reporting date using the projected unit credit method. Consideration is given to expected future wage and salary levels, experience of employee departures and periods of service. Expected future payments are discounted using market yields at the reporting date on corporate bonds with terms to maturity and currency that match, as closely as possible, the estimated future cash outflows. Share

Parent Entity Financial Informa

Parent Entity Financial Information	12 Months Ended
	Dec. 31, 2024
Statement of financial position [abstract]
Parent Entity Financial Information	Note 2 Parent Entity Financial Information The following information has been extracted from the books and records of the parent and has been prepared in accordance with International Financial Reporting Standards. As of December 31, As of December 31, (in U.S. Dollars) 2024 2023 Balance sheet ASSETS Current assets Cash and cash equivalents $ 39,222,311 $ 72,819,657 Trade and other receivables 92,533 62,513 Prepayments 64,749 12,992 39,379,593 72,895,162 Assets classified as held for sale 2,197,607 2,372,886 Total current assets 41,577,200 75,268,048 Non-current assets Amounts due from related parties 132,012,140 121,976,670 Exploration and evaluation assets — — Investment securities at fair value through profit or loss — 16,429,244 Other assets 5,234 5,741 Total non-current assets 132,017,374 138,411,655 Total assets $ 173,594,574 $ 213,679,703 LIABILITIES Payables $ 275,118 $ 322,940 Borrowings 30,360,575 28,554,210 Derivative financial instruments 5,368,624 866,278 Total current liabilities 36,004,317 29,743,428 Total liabilities 36,004,317 29,743,428 Net assets 137,590,257 183,936,275 EQUITY Contributed equity 367,537,075 338,425,286 Reserves 2,844,337 25,017,175 Accumulated losses ( 232,791,155 ) ( 179,506,186 ) Total equity $ 137,590,257 $ 183,936,275 At December 31, At December 31, 2024 2023 Statement of Profit or Loss and Other Comprehensive Income Total loss and total comprehensive loss $ ( 53,284,969 ) $ ( 47,135,365 ) Guarantees NOVONIX Limited has not entered into any guarantees, in the current or previous reporting period, in relation to the debts of its subsidiaries. Contingent liabilities At December 31, 2024, NOVONIX Limited did no t have any contingent liabilities (December 31, 2023: Nil ). Contractual Commitments At December 31, 2024, NOVONIX Limited did no t have any contractual commitments (December 31, 2023: Nil ).

Revenue

Revenue	12 Months Ended
	Dec. 31, 2024
Disclosure of disaggregation of revenue from contracts with customers [abstract]
Revenue	Note 3 Revenue Revenue The Company derives revenue from the transfer of goods and provision of services in the following major product lines and segments: Year Ended December 31, 2024 (in U.S.$) Graphite Battery Battery Total Hardware sales $ — $ 1,805,745 $ — $ 1,805,745 Consulting sales — 4,048,679 — 4,048,679 Revenue from external customers $ — $ 5,854,424 $ — $ 5,854,424 Timing of revenue recognition At a point in time $ — 1,805,745 $ — $ 1,805,745 Over time — 4,048,679 — 4,048,679 $ — $ 5,854,424 $ — $ 5,854,424 Year Ended December 31, 2023 (in U.S.$) Graphite Battery Battery Total Hardware sales $ — $ 2,999,533 $ — $ 2,999,533 Consulting sales — 5,054,995 — 5,054,995 Revenue from external customers $ — $ 8,054,528 $ — $ 8,054,528 Timing of revenue recognition At a point in time $ — 2,999,533 $ — $ 2,999,533 Over time — 5,054,995 — 5,054,995 $ — $ 8,054,528 $ — $ 8,054,528 Six Months Ended December 31, 2022 (in U.S.$) Graphite Battery Battery Total Hardware sales $ — $ 403,860 $ — $ 403,860 Consulting sales — 2,298,596 — 2,298,596 Revenue from external customers $ — $ 2,702,456 $ — $ 2,702,456 Timing of revenue recognition At a point in time $ — $ 403,680 $ — $ 403,680 Over time — 2,298,596 — 2,298,596 $ — $ 2,702,276 $ — $ 2,702,276 Year Ended June 30, 2022 (in U.S.$) Graphite Battery Battery Total Hardware sales $ — $ 2,549,308 $ — $ 2,549,308 Consulting sales — 3,551,847 — 3,551,847 Revenue from external customers $ — $ 6,101,155 $ — $ 6,101,155 Timing of revenue recognition At a point in time $ — $ 2,549,308 $ — $ 2,549,308 Over time — 3,551,847 — 3,551,847 $ — $ 6,101,155 $ — $ 6,101,155 Revenues from external customers come from the sale of battery testing hardware equipment and the provision of battery testing and development consulting services. Assets and Liabilities Related to Contracts with Customers The Company has recognized the following assets and liabilities related to contracts with customers: At December 31, At December 31, (in U.S. Dollars) 2024 2023 Contract liabilities – Hardware sales $ — $ 56,653 Contract liabilities – Services sales 126,056 228,568 Total other current liabilities $ 126,056 $ 285,221 Revenue Recognized in Relation to Contract Liabilities The following table shows how much of the revenue recognized in the current reporting period relates to brought-forward contract liabilities. Year Ended Six Months Ended December 31, Year Ended June 30, (in U.S. Dollars) 2024 2023 2022 2022 Revenue recognized that was included Hardware sales $ 285,221 $ 71,985 $ 2,715 $ 232,800 The Company had no contract assets as of December 31, 2024, and December 31, 2023. See Note 10, Trade and other receivables , for trade receivables. The Company had no remaining performance obligations which have an original expected term of more than one year .

Other Income, Net

Other Income, Net	12 Months Ended
	Dec. 31, 2024
Analysis of income and expense [abstract]
Other Income, Net	Note 4 Other Income, Net Year Ended Six Months Ended Year Ended June 30, (in U.S. dollars) 2024 2023 2022 2022 Interest income $ 1,370,929 $ 1,611,128 $ 19,416 $ 8,314 Manufacturing and Energy Supply Chains Grant 470,783 — — — Other grant funding 1,827,882 1,161,992 260,536 982,767 Fair value gain on borrowings (refer Note 21) — — — 219,557 Research and development tax incentive 593,521 689,089 — — Other 10,064 147,691 35,154 385,482 Total $ 4,273,179 $ 3,609,900 $ 315,106 $ 1,596,120 In November 2023, the Company was selected to receive a $ 100 million grant from the U.S. Department of Energy ("DOE") office of Manufacturing and Energy Supply Chains ("MESC") to enhance domestic production of high-performance synthetic graphite anode materials at its Riverside facility in Chattanooga, Tennessee. During the year ended December 31, 2024, the Company submitted reimbursement requests totaling $ 19,156,398 ag ainst the available grant funds. In accordance with the schedule of expenditures, $ 470,783 relates to payroll and salary related expense claims which have been accounted for as other income and $ 18,677,454 relates to capital expenditure claims which have been offset against the related Construction in Progress additions in Property, Plant and Equipment (Note 14) .

Loss before Income Taxes

Loss before Income Taxes	12 Months Ended
	Dec. 31, 2024
Loss For Year [Abstract]
Loss before Income Taxes	Note 5 Loss before Income Taxes Loss before income taxes includes the following specific expenses: Year Ended Six Months Ended Year Ended (in U.S. dollars) 2024 2023 2022 2022 Share-based payments expense^ Performance rights granted $ 5,591,417 $ 5,094,244 $ 4,857,249 $ 11,307,550 Share rights granted 444,613 399,982 444,480 2,260,399 Options granted ( 512,470 ) 127,734 52,700 962,800 Total share-based compensation expense $ 5,523,560 $ 5,621,960 $ 5,354,429 $ 14,530,749 ^ Refer to note 28 for further information regarding share-based payments. Borrowing costs Interest accrued on loan notes $ 1,776,230 $ 980,852 $ — $ — Unwinding of fair value gain 25,510 18,553 25,945 43,979 Interest accrued on borrowings 1,765,258 1,864,697 917,476 1,468,569 Total borrowing costs $ 3,566,998 $ 2,864,102 $ 943,421 $ 1,512,548 (in U.S. dollars) Year Ended December 31, Six Months Ended December 31, Year Ended June 30, Administrative and other expenses 2024 2023 2022 2022 Insurance $ 4,125,899 $ 6,750,308 $ 4,019,027 $ 3,842,129 Legal fees 2,735,055 1,730,766 895,138 1,426,081 Occupancy expenses 2,470,502 418,206 628,816 1,729,282 Consulting fees 4,298,968 3,672,513 751,047 1,080,601 Software implementation and systems-related expenses 1,214,833 1,758,962 1,034,420 — Other 5,074,035 4,533,142 4,153,199 4,513,616 Total administrative and other expenses $ 19,919,292 $ 18,863,896 $ 11,481,647 $ 12,591,709

Income Tax (Benefit) Expense

Income Tax (Benefit) Expense	12 Months Ended
	Dec. 31, 2024
Major components of tax expense (income) [abstract]
Income Tax (Benefit) Expense	Note 6 Income Tax (Benefit) Expense This note provides an analysis of the Company’s income tax expense (benefit), the amounts are recognized directly in equity and how the tax expense (benefit) is affected by non-assessable and non-deductible items. It also explains significant estimates made in relation to the Company’s tax position. Year Ended Six Months Ended Year Ended June 30, (in U.S. Dollars) 2024 2023 2022 2022 (a) Numerical reconciliation of income tax expense to prima facie tax payable Loss before income tax expense $ ( 74,724,454 ) $ ( 46,448,210 ) $ ( 27,864,014 ) $ ( 51,860,307 ) Tax at the Australian tax rate of 30 % (2023: 30 %) ( 22,417,336 ) ( 13,934,463 ) ( 8,359,204 ) ( 12,965,077 ) Tax effect of amounts which are not tax deductible (taxable) in calculating taxable income: Share-based payments 1,268,814 1,262,386 1,087,931 3,153,550 State tax expense 19,285 — — — Government grants 49,333 507,207 104,079 49,458 Unrealized foreign exchange gain — — ( 7,459 ) 38,172 (Loss)/Gain on fair value of derivative instruments 2,760,350 6,582 — — Borrowing costs — — 7,524 13,107 Other non-deductible amounts 60,834 2,793 68,801 727,362 Other deferred basis adjustments ( 2,169,023 ) — — 3,099 Difference in overseas tax rate 3,367,164 2,232,607 670,144 ( 560,684 ) Adjustments for current tax of prior periods ( 158,880 ) ( 102,522 ) ( 292,141 ) — Adjustment to deferred tax assets and liabilities for tax losses and temporary differences not recognized 17,317,146 9,825,461 6,720,325 9,541,013 Income tax (benefit) expense $ 97,687 $ ( 199,949 ) $ — $ — (b) Tax losses Unused tax losses for which no deferred tax asset has been recognized $ 150,819,578 $ 115,482,188 $ 82,326,319 $ 85,249,412 Potential tax benefit $ 45,245,873 $ 34,644,656 $ 24,697,896 $ 21,312,383 (c) Tax expense (income) recognized directly in equity Aggregate current and deferred tax arising in the reporting period and not recognized in net profit or loss or other comprehensive income but directly debited or credited to equity: Deferred tax: Share issue costs $ — $ — $ — $ — Year Ended Six Months Ended Year Ended June 30, (in U.S. dollars) 2024 2023 2022 2022 (d) Deferred tax assets The balance comprises temporary differences attributable to: Tax losses $ 37,950,397 $ 34,644,656 $ 24,697,896 $ 21,312,353 Exploration and evaluation assets 192,271 365,919 522,068 545,211 Business capital costs 789,677 1,566,275 2,143,430 1,733,648 Other non-current assets 14,237,476 8,116,735 4,759,740 2,055,471 Right of use asset 141,193 92,858 79,151 58,650 Unrealized exchange loss on borrowings — 259,804 433,514 213,791 Accrued expenses 66,059 98,303 307,811 468,644 Deferred revenue 648,024 — — — Other 36,410 21,438 19,686 330,510 Total deferred tax assets 54,061,507 45,165,988 32,963,296 26,718,278 Set-off of deferred tax liabilities pursuant to set-off provisions ( 3,719,657 ) ( 4,970,299 ) ( 2,913,574 ) ( 1,495,735 ) Deferred tax assets not recognized ( 50,225,561 ) ( 39,994,325 ) ( 30,049,722 ) ( 25,222,543 ) Net deferred tax assets $ 116,289 $ 201,364 $ — $ — (e) Deferred tax liabilities The balance comprises temporary differences attributable to: Other non-current assets $ ( 3,059,287 ) $ ( 4,162,691 ) $ ( 2,031,711 ) $ ( 351,147 ) Prepayments ( 161,500 ) ( 224,008 ) ( 215,967 ) ( 1,144,588 ) Foreign currency (loss)/gain ( 498,870 ) ( 583,600 ) ( 665,896 ) — Total deferred tax liabilities ( 3,719,657 ) ( 4,970,299 ) ( 2,913,574 ) ( 1,495,735 ) Set-off of deferred tax liabilities pursuant to set-off provisions 3,719,657 4,970,299 2,913,574 1,495,735 Net deferred tax liabilities $ — $ — $ — $ — Deferred tax assets are only recognized for deductible temporary differences and unused tax losses if it is probable that future taxable amounts will be available to utilize those temporary differences and losses. An amount of $ 116,289 has been recognized in relation to the deferred tax assets of NOVONIX Corp, as it has been determined that future taxable amounts will be available to utilize temporary differences. Unused losses which have not been recognized as an asset, will only be obtained if: • the Company derives future assessable income of a nature and of an amount sufficient to enable the losses to be realized, • the Company continues to comply with the conditions for deductibility imposed by the law, • no changes in tax legislation adversely affect the Company in realizing the losses. As of December 31, 2024, the Company has no tax-related contingent liabilities for uncertain tax treatment. The Company is not under examination in any of its tax-filing jurisdictions. The net operating losses in the United States, Canada, and Australia of $ 150,819,578 are principally indefinite-lived; however, $ 15,224,909 is subject to expiration with the earliest expiration beginning in 2042. Offsetting within Tax Consolidated Entity NOVONIX Limited and its wholly-owned Australian subsidiaries have applied the tax consolidation legislation which means that these entities are taxed as a single entity. As a consequence, the deferred tax assets and deferred tax liabilities of these entities have been offset in the consolidated financial statements.

Key Management Personnel Compen

Key Management Personnel Compensation	12 Months Ended
	Dec. 31, 2024
Key Management Personnel Compensation [Abstract]
Key Management Personnel Compensation	Note 7 Key Management Personnel Compensation The totals of remuneration paid to key management personnel (KMP) of the Company are as follows: Year Ended December 31, Six Months Ended December 31, Year Ended June 30, (in U.S. dollars) 2024 2023 2022 2022 Short-term employee benefits $ 3,229,618 $ 2,514,689 $ 1,457,899 $ 3,202,116 Post-employment benefits 56,853 45,092 20,997 144,594 Termination benefits — — — — Share-based compensation 3,484,966 2,228,316 4,006,327 12,118,927 Total KMP compensation $ 6,771,437 $ 4,788,097 $ 5,485,223 $ 15,465,637 Short-term employee benefits These amounts include fees and benefits paid to the non-executive Chairman as well as all salary, paid leave benefits and fringe benefits paid to Executive Directors. Post-employment benefits These amounts are the superannuation contributions made during the year. Share-based compensation These amounts represent the expense related to the participation of KMP in equity-settled benefit schemes as measured by the fair value of the options and performance rights on grant date.

Auditor_s Remuneration

Auditor’s Remuneration	12 Months Ended
	Dec. 31, 2024
Auditor's remuneration [abstract]
Auditor’s Remuneration	Note 8 Auditor’s Remuneration The following fees were paid or payable for services provided by PricewaterhouseCoopers Australia (PwC) as the auditor of the Company: Year End December 31, Six Months Ended December 31, Year Ended June 30, (in U.S. dollars) 2024 2023 2022 2022 Audit fees $ 423,235 $ 412,793 $ 471,568 $ 266,000 Audit-related fees 10,391 — — — Other fees in relation to prior year's audit 42,222 8,382 — — Other assurance services 13,811 13,291 — — All other fees — — — 276,498 Total $ 489,659 $ 434,466 $ 471,568 $ 542,498 1 Audit-related fees related to services performed in respect of the US IPO and US filing processes during the six months ended December 31, 2022, and year ended June 30, 2022.

Earnings per Share

Earnings per Share	12 Months Ended
	Dec. 31, 2024
Earnings per share [abstract]
Earnings per Share	Note 9 Earnings per Share Years Ended December 31, Six Months Ended December 31, Years Ended June 30, (in U.S. dollars) 2024 2023 2022 2022 Basic net loss per share Total basic net loss per share attributable to the ordinary equity holders of the Company $ ( 0.15 ) $ ( 0.09 ) $ ( 0.06 ) $ ( 0.11 ) Diluted net loss per share Total diluted net loss per share attributable to the ordinary equity holders of the Company $ ( 0.15 ) $ ( 0.09 ) $ ( 0.06 ) $ ( 0.11 ) Reconciliations of net loss used in calculating net loss per share Years Ended December 31, Six Months Ended December 31, Years Ended June 30, (in U.S. dollars) 2024 2023 2022 2022 Basic net loss per share Net loss attributable to the ordinary equity holders of the Company used in calculating basic net loss per share $ ( 74,822,141 ) $ ( 46,248,261 ) $ ( 27,864,014 ) $ ( 51,860,307 ) Diluted net loss per share Net loss attributable to the ordinary equity holders of the Company used in calculating diluted net loss per share $ ( 74,822,141 ) $ ( 46,248,261 ) $ ( 27,864,014 ) $ ( 51,860,307 ) Weighted average number of shares used as the denominator Year Ended December 31, Six Months Ended December 31, Year Ended June 30, 2024 2023 2022 2022 Weighted average number of ordinary shares used as the denominator in calculating basic and diluted net loss per share 496,862,010 487,474,460 486,616,365 464,437,628 Information concerning the classification of securities Options and Rights Options, rights and convertible notes (refer to Note 22 - Unsecured convertible loan notes and derivative financial instruments ) on issue during the year ended December 31, 2024, and 2023, six months ended December 31, 2022, and year ended June 30, 2022 are not included in the calculation of diluted earnings per share because they are antidilutive. These options, rights and convertible notes could potentially dilute basic earnings per share in the future. Details relating to options and rights are set out in Note 28 - Share-based Payments.

Trade and Other Receivables

Trade and Other Receivables	12 Months Ended
	Dec. 31, 2024
Trade and other current receivables [abstract]
Trade and Other Receivables	Note 10 Trade and Other Receivables December 31, December 31, (in U.S. dollars) 2024 2023 Trade debtors $ 1,627,393 $ 3,034,897 MESC grant funds receivable 6,323,492 — Loss allowance ( 252,429 ) — Other receivables 459,717 529,436 Total trade and other receivables $ 8,158,173 $ 3,564,333 At December 31, 2024, the Company had $ 6.3 million in claims receivable against the $ 100 million MESC grant from the DOE which have been subsequently fully collected prior to the issuance of these consolidated financial statements. Credit Risk The Company has no significant concentration of credit risk with respect to any counterparties or on a geographical basis. Amounts are considered as “past due” when the debt has not been settled, in line with the terms and conditions agreed between the Company and the customer to the transaction. The Company assesses impairment of trade and other receivables using the simplified approach of the expected credit loss (ECL) model under IFRS 9, Financial Instruments . The balance of receivables that remain within initial trade terms are considered to be of high credit quality

Prepayments

Prepayments	12 Months Ended
	Dec. 31, 2024
Current prepayments and current accrued income including current contract assets [abstract]
Prepayments	Note 11 Prepayments December 31, December 31, (in U.S. dollars) 2024 2023 Prepayments of inventory components $ 393,788 $ 753,973 Prepaid general and administrative expenses 1,307,000 1,105,824 Total $ 1,700,788 $ 1,859,797 Prepaid general and administrative expenses consisted primarily of prepaid property insurance premiums for our Riverside facility of $ 617,947 and $ 745,693 at December 31, 2024, and December 31, 2023, respectively.

Escrow Reserves

Escrow Reserves	12 Months Ended
	Dec. 31, 2024
Escrow Reserves [Abstract]
Escrow Reserves	Note 12 Escrow Reserves December 31, December 31, 2024 2023 (in U.S. dollars) Escrow reserves $ 1,452,187 $ 794,500 The reserves are funds deposited with the Lender for capital expenditures, insurance, tax, and production as additional collateral for the loan obtained in relation to the purchase of the new facility in Chattanooga, Tennessee. Reserves are released as the conditions of the loan are satisfied. All conditions are expected to be satisfied within 12 months from the balance sheet date. During the year and in accordance with all applicable loan conditions, the Company received the remaining disbursement of the capital expenditure and earnout reserves as the scheduled capital expenditure work was completed, installed, and being utilized by the Company in the ordinary course of business.

Inventory

Inventory	12 Months Ended
	Dec. 31, 2024
Classes of current inventories [abstract]
Inventory	Note 13 Inventory December 31, December 31, (in U.S. dollars) 2024 2023 Raw materials $ 10,083 $ 507,326 Components and assemblies 1,240,568 1,403,873 Finished goods – at cost 133,253 89,609 Total Inventory $ 1,383,904 $ 2,000,808 Amounts Recognized in Profit or Loss Inventories recognized as an expense during the year ended December 31, 2024, amounted t o $ 0.7 mi llion. Inventories recognized as an expense during the year ended December 31, 2023, amounted to $ 1.1 million. These were included in product manufacturing and operating costs (exclusive of depreciation presented separately) in the consolidated statements of profit or loss and other comprehensive (loss) income.

Property, Plant and Equipment

Property, Plant and Equipment	12 Months Ended
	Dec. 31, 2024
Disclosure of detailed information about property, plant and equipment [abstract]
Property, Plant and Equipment	Note 14 Property, Plant, and Equipment (in U.S. dollars) Land Buildings Leasehold Machinery and Construction Total At January 1, 2023 Cost $ 2,314,473 $ 47,602,298 $ 1,148,447 $ 24,816,965 $ 56,715,250 $ 132,597,433 Accumulated depreciation — ( 2,763,232 ) ( 569,337 ) ( 3,948,116 ) — ( 7,280,685 ) Net book amount $ 2,314,473 $ 44,839,066 $ 579,110 $ 20,868,849 $ 56,715,250 $ 125,316,748 Opening net book amount at January 1, 2023 $ 2,314,473 $ 44,839,066 $ 579,110 $ 20,868,849 $ 56,715,250 $ 125,316,748 Additions — 113,215 193,251 877,938 17,341,364 18,525,768 Disposals — — — ( 193,160 ) — ( 193,160 ) Transfers — — 88,882 1,939,982 ( 2,028,864 ) — Depreciation charge — ( 1,304,113 ) ( 436,474 ) ( 2,385,633 ) — ( 4,126,220 ) Exchange differences 16,353 138,061 — 96,025 19,872 270,311 Closing net book amount at December 31, 2023 $ 2,330,826 $ 43,786,229 $ 424,769 $ 21,204,001 $ 72,047,622 $ 139,793,447 Additions — — — — 33,290,758 33,290,758 Manufacturing and Energy Supply Chains Grant ( 18,677,454 ) ( 18,677,454 ) Disposals — — — ( 55,033 ) ( 151,880 ) ( 206,913 ) Transfers — — — 530,013 ( 530,013 ) — Depreciation charge — ( 1,284,120 ) ( 196,815 ) ( 2,454,098 ) — ( 3,935,033 ) Exchange differences ( 58,529 ) ( 487,960 ) — ( 391,524 ) ( 16,448 ) ( 954,461 ) Closing net book amount at December 31, 2024 $ 2,272,297 $ 42,014,149 $ 227,954 $ 18,833,359 $ 85,962,585 $ 149,310,343 At December 31, 2024 Cost $ 2,272,297 $ 47,322,495 $ 1,430,580 $ 27,370,268 $ 85,962,585 164,358,225 Accumulated depreciation — ( 5,308,346 ) ( 1,202,626 ) ( 8,536,910 ) — ( 15,047,882 ) Net book amount $ 2,272,297 $ 42,014,149 $ 227,954 $ 18,833,358 $ 85,962,585 $ 149,310,343

Financial Assets at Fair Value

Financial Assets at Fair Value Through Profit or Loss	12 Months Ended
	Dec. 31, 2024
Financial assets at fair value through profit or loss [abstract]
Financial Assets at Fair Value Through Profit or Loss	Note 15 Financial Assets at Fair Value Through Profit or Loss Classification of Financial Assets at Fair Value through Profit or Loss The Company classifies equity investments for which it has not elected to recognize fair value gains and losses through OCI as financial assets at fair value through profit or loss (FVPL). Financial assets measured at FVPL include the following: December 31, December 31, (in U.S. dollars) 2024 2023 US unlisted equity securities $ — $ 16,666,665 On January 31, 2022, NOVONIX Limited entered into a Securities Purchase Agreement with KORE Power, Inc. (“KORE Power”) a U.S. based developer of battery cell technology for the clean energy industry, under which NOVONIX Limited acquired 3,333,333 shares of KORE Power Common Stock at an issue price of $ 7.50 per share, representing approximately 5 % of the common equity of KORE Power. The consideration for the shares in KORE Power totaled $ 25 million (AUD $ 35,131,550 ) and was settled through a combination of 50 % cash and 50 % through the issue of 1,974,723 ordinary shares in NOVONIX Limited. The equity investment was revalued in 2022 to $ 5.00 per share, which was the share price for a significant capital raise undertaken by KORE Power in November 2022. At December 31, 2024, the investment in KORE Power represents approximately 3.7 % of the common equity of KORE Power. Amounts Recognized in Profit or Loss During the year ended December 31, 2024, the Company recognized a loss in the consolidated statement of profit or loss and other comprehensive income related to equity investments held at FVPL as a result of the fair value measurement described in the Valuation Techniques using Significant Unobservable Inputs – Level 3 section below. Fair Value Hierarchy U.S. unlisted equity securities are classified as a Level 3 fair value in the fair value hierarchy as one or more of the significant inputs is not based on observable market data. The following table presents the changes in level 3 instruments during the year ended December 31, 2024 (in U.S. dollars): December 31, December 31, 2024 2023 Opening balance $ 16,666,665 $ 16,490,271 Changes during the period: Loss on equity investment securities at fair value through profit or loss ( 15,308,187 ) — Exchange difference ( 1,358,478 ) 176,394 Balance at December 31, 2024 $ — $ 16,666,665 There were no transfers between levels 1, 2 or 3 for recurring fair value measurements during the year. The Company’s policy is to recognize transfers into and out of fair value hierarchy levels as at the end of the reporting period. Valuation Techniques using Significant Unobservable Inputs – Level 3 This category includes assets where the valuation incorporates significant inputs that are not based on observable market data (unobservable inputs). Unobservable inputs are those not readily available in an active market due to market illiquidity or complexity of the product. These inputs are generally derived and extrapolated from observable inputs to match the risk profile of the financial instrument, and are calibrated against current market assumptions, historic transactions and economic models, where available. In 2022, the primary approach used in the determination of the fair value of the investment in KORE Power was with reference to the pricing of significant external capital raising activity undertaken by KORE Power. The most recent significant external capital raising undertaken by KORE Power was in November 2022 and no further capital raising has occurred in the year ended December 31, 2023. In December 2024, the Company considered available information produced by management of KORE Power as well as factors impacting KORE Power’s operations and concluded that the fair value of the investment had been reduced to nil. This was further confirmed by KORE Power’s decision to cancel its plans to develop its KOREPlex battery manufacturing facility in Buckeye, Arizona and the resignation of its CEO, announced on January 31, 2025.

Exploration and Evaluation Asse

Exploration and Evaluation Assets	12 Months Ended
	Dec. 31, 2024
Disclosure Of Exploration And Evaluation Assets [Abstract]
Exploration and Evaluation Assets	Note 16 Exploration and Evaluation Assets December 31, December 31, (in U.S. dollars) 2024 2023 Exploration and evaluation assets – at cost $ — $ — The capitalized exploration and evaluation assets carried forward above have been determined as follows: Balance at the beginning of the period $ — $ 2,212,013 Expenditure incurred during the period — 16,691 Exchange differences — ( 8,752 ) Assets classified as held for sale — ( 2,219,952 ) Balance at the end of the period $ — $ — December 31, December 31, (in U.S. dollars) 2024 2023 Assets classified as held for sale $ 2,044,673 $ 2,219,952 Balance at the beginning of the period $ 2,219,952 $ — Expenditure incurred during the period 36,604 — Exchange differences ( 211,883 ) — Assets classified as held for sale — 2,219,952 Balance at the end of the period $ 2,044,673 $ 2,219,952 The Company holds tenement rights to a high-grade natural flake graphite deposit located in Northern Queensland, Australia. In October 2023, the Company decided to pursue potential opportunities to realize the value of these assets through a strategic transaction. All tenement rights remain current, exploration activity is continuing to the extent required under the tenement rights, a resource, principally high-grade graphite, has been identified, and the assets are available for sale in their current conditions. In April 2024, the Company signed a Share Sale and Purchase Agreement under which its wholly owned subsidiary, MD South Tenements Pty Ltd, which holds the Mount Dromedary natural graphite exploration interests, will be divested to Axon Graphite Limited (“Axon Graphite”), a wholly owned subsidiary of Lithium Energy Limited (“Lithium Energy”). As a consideration for the transaction, the Company will receive shares in Axon Graphite, subject to the completion of the parties’ due diligence enquiries, completion of the initial public offering (“IPO”) of Axon Graphite, and receipt of approval and admission of Axon Graphite to the Australian Securities Exchange (“ASX”). On September 9, 2024, the Company and Lithium Energy provided an update on the spin-out and IPO and ASX listing of Axon Graphite, which encompasses the merger of the high-grade natural graphite assets of Lithium Energy (known as the Burke and Corella Deposits) and the Company (known as the Mt Dromedary Deposit) to form a distinct vertically integrated Battery Anode Material business in Queensland, Australia. The timing of this strategic transaction is out of management's control.

Intangible Assets

Intangible Assets	12 Months Ended
	Dec. 31, 2024
Disclosure of detailed information about intangible assets [abstract]
Intangible Assets	Note 17 Intangible Assets December 31, December 31, (in U.S. dollars) 2024 2023 Goodwill $ 11,975,024 $ 11,975,024 Technology — 15,285 Total $ 11,975,024 $ 11,990,309 (in U.S. dollars) Goodwill Technology Software Total Balance at December 31, 2022 $ 11,975,024 $ 198,686 $ — $ 12,173,710 Additions — — — — Amortization — ( 183,401 ) — ( 183,401 ) Balance at December 31, 2023 $ 11,975,024 $ 15,285 $ - $ 11,990,309 Additions — — — — Amortization — ( 15,285 ) — ( 15,285 ) Balance at December 31, 2024 $ 11,975,024 $ — $ — $ 11,975,024 Intangible assets, other than goodwill, have finite useful lives. The current amortization charges for intangible assets are included under depreciation and amortization expense in the statement of profit or loss and other comprehensive (loss) income. Goodwill has an indefinite useful life. The Company performs its annual impairment testing on June 30 each year. For the purposes of impairment testing, the cash generating unit has been defined as the business to which the goodwill relates where individual cash flows can be ascertained for the purposes of discounting future cash flows. For the 2024 annual impairment test, the recoverable amount of the Cash Generation Unit ("CGU") was determined based on a ‘Fair Value Less Costs to Sell’ (“FVLCS”) calculation, based on the current Riverside Project Plan which assumes that commercial offtake will commence in 2025. The calculation of FVLCS involves the use of significant estimates and assumptions which include volume, growth rates and gross margins used to calculate projected future cash flows. The valuation is considered to be level 3 in the fair value hierarchy due to unobservable inputs used in the valuation. The present value of the expected cash flows is determined by applying an appropriate discount rate, which reflects the risks specific to the CGU. The recoverable amount of the NOVONIX Anode Materials CGU (“NAM CGU”) was deemed to be in excess of the carrying value of the NAM CGU, and therefore no impairment was recognized as of June 30, 2024. The calculations use cashflow projections based on financial budgets approved by management and the Board covering a 10-year period which management has determined is appropriate to reflect existing binding customer contracts and the ramp up in production to get to full capacity by 2028, at which point the operations of the business will normalize. The key assumptions used in the FVLCS calculations are: (i) post-tax discount rate of 11.5%, (ii) revenue sales prices initially range from USD $7-10/Kg in line with the Company's previously disclosed estimates for production economics (which reflect the contracts signed with various customers to supply up to 157,000 tonnes of anode material over the period 2026 to 2034), with inflationary and other expected pricing increases assumed thereafter, (iii) sales volume growth rates are based on current and expected customer demand, reflecting the ramp up of production equipment commissioning and product being available for sale with no incremental production volume growth expected after full production capacity of 20,000 tpa is reached, (iv) operating costs of $6-8/Kg, based on the current Riverside Project Plan and adjusted for inflationary increases; and (v) terminal value used to extrapolate cash flows beyond the forecast period of 2.5% based on future expectations for growth in the context of inflation expectations in the country in which the NAM CGU operates. Management recognizes that there are various reasons that estimates used in these assumptions may vary. Management does not believe that there are reasonably possible changes in any one key assumption that would result in the carrying amount of the NAM CGU to exceed its recoverable amount. The directors have assessed impairment triggers since the annual impairment test was performed at June 30, 2024, and have not identified any indicators of impairment at December 31, 2024. For the 2023 annual impairment test, the recoverable amount of the NAM CGU was determined based on an FVLCS basis. To determine the recoverable amount, the FVLCS was calculated with reference to the allocated portion of the Company’s enterprise value (EV). The EV model calculation considered the following: • The market capitalization of the Company on the (ASX:NVX) as of June 30, 2023; • The volatility of the share price of the Company as of June 30, 2023; and • The issuance of the convertible notes in June 2023 given that the convertible loan note issuance is directly associated with the planned future expansion of the NAM CGU. The recoverable amount of the NOVONIX Anode Materials CGU is deemed to be in excess of the carrying value of the CGU, and therefore no impairment has been recognized at December 31, 2024.

Trade and Other Payables

Trade and Other Payables	12 Months Ended
	Dec. 31, 2024
Trade and other payables [abstract]
Trade and Other Payables	Note 18 Trade and other Payables December 31, December 31, (in U.S. dollars) 2024 2023 Unsecured liabilities: Trade payables $ 998,258 $ 1,342,369 Sundry payables and accrued expenses 7,171,820 4,102,800 Employee entitlements 354,063 314,892 Total $ 8,524,141 $ 5,760,061

Contract Liabilities

Contract Liabilities	12 Months Ended
	Dec. 31, 2024
Contract liabilities [abstract]
Contract Liabilities	Note 19 Contract Liabilities December 31, December 31, (in U.S. dollars) 2024 2023 Current - contract liabilities $ 126,056 $ 285,221 Non-current - other liabilities 3,000,000 3,000,000 Total $ 3,126,056 $ 3,285,221 During the 2021 financial year, the Company received grant funds of $ 3,000,000 from the Department of Economic and Community Development in the State of Tennessee, USA. The grant funds are conditional upon the Company creating, filling, and maintaining 290 jobs in the State of Tennessee. The grant becomes fully earned once 90% of the performance target is achieved by March 2026, and is repayable in full if a minimum of 50% of the performance target is not achieved by March 2026. The grant is proportionately repayable between 50% and 90% of the performance target being achieved. Accordingly, as at December 31, 2024, and 2023, the full amount of the grant has been deferred and classified as a contract liability and will be either released to income (in full or proportionately) or repayable (in full or proportionately) depending on the performance target achieved by March 2026. Income has no t been recognized at December 31, 2024, as the Company can not reliably measure compliance of the conditions attaching to the grant with “reasonable assurance” to determine the grant has become receivable.

Leases

Leases	12 Months Ended
	Dec. 31, 2024
Presentation of leases for lessee [abstract]
Leases	Note 20 Leases This note provides information for leases where the Company is the lessee. Amounts Recognized in the Balance Sheet December 31, December 31, (in U.S. dollars) 2024 2023 Right-of-use assets - Buildings $ 6,356,771 $ 4,484,521 Lease liabilities Current $ 522,297 $ 345,933 Non-current 6,488,119 4,479,627 Total $ 7,010,416 $ 4,825,560 In March 2024, the Company extended its lease term for a period of five years , which resulted in a revaluation of the right-of-use assets during the 2024 fiscal year. The movement of $ 1,935,600 during the year ended December 31, 2024, relates to the allocation of revised lease payments due to the extended lease term. Refer to Note 31, Financial risk management , for a maturity analysis of lease liabilities. Amounts recognized in the statement of profit or loss and other comprehensive (loss) income Year Ended Six Months Ended December 31, Year Ended June 30, (in U.S. dollars) 2024 2023 2022 2022 Depreciation of right-of-use assets - Buildings $ 618,651 $ 430,514 $ 215,257 $ 430,514 Interest expense $ 276,728 $ 212,354 $ 111,593 $ 233,229 The total cash outflow for leases in the years ended December 31, 2024 and 2023, are $ 573,600 and $ 565,732 , respectively. The Company had no short-term leases at December 31, 2024, and 2023 .

Borrowings

Borrowings	12 Months Ended
	Dec. 31, 2024
Disclosure of detailed information about borrowings [abstract]
Borrowings	Note 21 Borrowings December 31, 2024 Reclassified December 31, 2023 (in U.S. dollars) Current Non-Current Total Current Non-Current Total Secured Bank loans (i) $ 1,033,578 $ 31,650,244 $ 32,683,822 $ 1,167,301 $ 33,044,170 $ 34,211,471 Total secured borrowings $ 1,033,578 $ 31,650,244 $ 32,683,822 $ 1,167,301 $ 33,044,170 $ 34,211,471 Unsecured Convertible notes $ 30,360,575 $ — $ 30,360,575 $ 28,554,210 $ — $ 28,554,210 Other loans (ii) 274,657 1,125,027 1,399,684 174,388 1,622,121 1,796,509 Total unsecured borrowings 30,635,232 1,125,027 31,760,259 28,728,598 1,622,121 30,350,719 Total borrowings $ 31,668,810 $ 32,775,271 $ 64,444,081 $ 29,895,899 $ 34,666,291 $ 64,562,190 Secured Liabilities and Assets Pledged as Security On December 1, 2017, the Company purchased freehold land and buildings at 177 Bluewater Road, Bedford Canada for CAD$ 1,225,195 and from where the consulting services business now operates. The Company entered into a loan facility of CAD $ 2,680,000 to purchase the land and buildings secured by a first mortgage over the property. At December 31, 2024, the facility had been fully drawn down. The total liability at December 31, 2024, is $ 1,601,796 (CAD $ 2,304,712 ). The facility is repayable in monthly installments ending September 15, 2044. The carrying amount of this asset at December 31, 2024 and December 31, 2023 was $ 2,145,772 and $ 2,842,406 , respectively. On May 28, 2021, the Company purchased commercial land and buildings in Nova Scotia, Canada for CAD$ 3,550,000 from which the hardware and cathode businesses operates. The Company entered into a loan facility to purchase the land and buildings. The total available under the facility is CAD $ 4,985,000 and it has been drawn down to CAD$ 4,923,000 as at December 31, 2023. The total liability at December 31, 2024 is $ 3,177,058 (CAD $ 4,571,428 ). The full facility is repayable in monthly installments, commencing December 2022 and ending in January 2048 . The Company’s freehold land and buildings at 110 Simmonds Drive, Dartmouth, Canada are pledged as collateral against the bank loan. The carrying amount of this asset at December 31, 2024, and December 31, 2023 w as $ 3,284,556 and $ 3,329,187 , respectively. On January 24, 2022, the Company entered into a loan facility to purchase equipment. The total amount available under the facility is CAD $ 500,00 and has been fully drawn down at December 31, 2024. The total liability at December 31, 2024 was $ 213,785 (CAD $ 307,600 ). The facility is repayable in monthly installments, commencing in December 2023 and ending in January 2034 . Equipment being purchased with the loan funds are pledged as collateral against the loan. On July 28, 2021, the Company purchased commercial land and buildings in Chattanooga, USA for $ 42,600,000 to expand the NAM business. The Company entered into a loan facility with PNC Real Estate for $ 30,100,000 to purchase the land and buildings. The loan has been fully drawn down at December 31, 2024. The total liability at December 31, 2024, is $ 27,691,183 . The facility is repayable in monthly installments, which commenced in September 2021 and ending in August 2031 . The land and buildings at 1029 West 19th Street, Chattanooga, USA have been pledged as security for the loan, with a carrying amount of $ 38,174,386 and $ 39,202,599 at December 31, 2023 and December 31, 2022, respectively. Lastly, the Company has pledged additional collateral with the Lender for capital expenditures, insurance, tax, and production, Note 12. Loan Covenants This loan imposes certain covenants to ensure that the following financial ratios are met: • net assets of $ 30.1 million to be maintained (exclusive of the land and buildings secured by this loan and minimum liquidity of $ 3.1 million) • a debt service coverage ratio of 1.2 to 1 is to be maintained. Compliance with Loan Covenants The Company has complied with the financial covenants of its borrowing facilities during the years ended December 31, 2024 and 2023. Other Loans ACOA Loans In December 2017, the Company entered into a contribution agreement with Atlantic Canada Opportunities Agency ("ACOA"), for CAD$ 500,000 . At December 31, 2024, CAD$ 500,000 of the facility has been drawn down. The funding was to assist with expanding the market to reach new customers through marketing and product improvements. The facility is repayable in monthly installments which commenced in September 2019 and ending in May 2027. In October 2018, the Company entered into another contribution agreement with ACOA, for CAD$ 500,000 . At December 31, 2024, CAD$ 500,000 of the facility has been drawn down. The funding was to assist in establishing a battery cell manufacturing facility. The facility is repayable in monthly installments which commenced in January 2021 and ending in December 2026. In July 2021, the Company entered into a further contribution agreement with ACOA, for CAD$ 250,000 . At December 31, 2024, the facility has been fully drawn down. The funding was to assist in expanding the BTS operations. The facility is repayable in monthly installments commencing in January 2024 and ending in December 2026. In December 2021, the Company entered into a further contribution agreement with ACOA for CAD$ 1,000,000 . At December 31, 2024, it has been fully drawn down. The funding will be used to will assist with purchasing equipment for the cathode pilot line and expansion of cell making capabilities. The facility is repayable in monthly installments commencing in January 2025 and ending in December 2036. In March 2023, the Company entered into a further contribution agreement with ACOA for CAD$ 886,000 . At December 31, 2024, the facility has been fully drawn down. The funding will be used to will assist with purchasing equipment for the cathode pilot line and expansion of cell making capabilities. The facility is repayable in monthly installments commencing in January 2025 and ending in December 2036. Fair Value For all borrowings, other than the ACOA loan noted at (ii) above, the fair values are not materially different to their carrying amounts, since the interest payable on those borrowings is either close to current market rates or the borrowings are of a short-term nature. The ACOA loans are interest free. The initial fair value of the ACOA loans were determined using a market interest rate for equivalent borrowings at the issue date. This resulted in a day one gain of $ 100,152 in FY2018 (December 2017 loan), a day one gain of $ 114,106 in FY2019 (October 2018 loan) and a day one gain of $ 219,557 in the year ended June 30, 2022.

Unsecured Convertible Loan Note

Unsecured Convertible Loan Notes and Derivative Financial Instruments	12 Months Ended
	Dec. 31, 2024
Disclosure of detailed information about financial instruments [abstract]
Unsecured Convertible Loan Notes and Derivative Financial Instruments	Note 22 Unsecured Convertible Loan notes and Derivative Financial Instruments On June 21, 2023, the Company issued 45,221,586 convertible loan notes, with a face value of AUD$ 1.00 per note, a coupon rate of 4 %, and a maturity date of June 7, 2028 , for proceeds of $ 30 million to LGES. The notes have a conversion price of AUD$ 1.60 per ordinary share. The convertible notes will mandatorily convert into ordinary shares upon acceptance of the first purchase order under the purchase agreement with LGES, although LGES may elect to convert some or all the notes prior to such time. No interest would be payable on the notes in these circumstances. The convertible notes may be redeemed or converted (at the election of LGES) on the maturity date, in which case interest is payable in cash (in respect of a redemption) or "in-kind" (in the case of conversion). The conversion option with LGES is accounted for as a derivative instrument. As the Company does not have the right to defer settlement of the liability, adoption of the amendments to IAS 1 resulted in the Company updating its accounting policy for the classification of convertible notes as indicated in Note 1 - Summary of Material Accounting Policy Information. This new policy is applied retrospectively and resulted in a change in the classification of convertible notes and associated derivative financial instruments from non-current to current . The effects of the adoption of IAS 1 in the balance sheet as of December 31, 2023, as previously reported, are detailed in the table below: (in U.S. dollars) As presented Reclassified December 31, Reclassification December 31, 2023 2023 Current liabilities Borrowings 1,341,689 28,554,210 29,895,899 Derivative Financial Instruments — 866,278 866,278 Total current liabilities $ 1,341,689 $ 29,420,488 $ 30,762,177 Non-current liabilities Borrowings 63,220,501 ( 28,554,210 ) 34,666,291 Derivative Financial Instruments 866,278 ( 866,278 ) — Total non-current liabilities $ 64,086,779 $ ( 29,420,488 ) $ 34,666,291 The effect of the adoption of the amendments to IAS 1 have no impact on the consolidated statement of profit and loss and other income, or net assets of the Company as previously reported. The convertible notes are presented in the consolidated balance sheet as follows: Borrowings (current liabilities) (in U.S. dollars) December 31, December 31, 2024 2023 Opening balance $ 28,554,210 — Initial recognition — 27,640,052 Costs of issue of convertible notes — ( 43,614 ) Interest expense* 1,806,365 957,772 Balance at December 31, 2024 $ 30,360,575 $ 28,554,210 * Interest expense, for the year ended December 31, 2024, is calculated by applying the effective interest rate of 6.564 % to the liability component. Derivative Financial Instruments (current liabilities) (in U.S. dollars) December 31, December 31, 2024 2023 Opening balance $ 866,278 — Initial Recognition — 2,359,948 Costs of issue of convertible notes — ( 3,724 ) Fair value loss (gain) 4,536,546 ( 1,525,320 ) Effect of foreign currency movements ( 34,200 ) 35,374 Balance at December 31, 2024 $ 5,368,624 $ 866,278 The fair value of the conversion option (derivative financial liability) was determined using Monte Carlo Simulation methodology. The derivative financial liability is carried at fair value at each reporting date, with gains or losses being recognized in the consolidated statement of profit or loss and other comprehensive income. The remainder of the proceeds were allocated to borrowings with the liability recognized at amortized cost until extinguished on conversion or maturity of the notes. Interest is applied using the effective interest rate. Fair Value Hierarchy The derivative financial liability is classified as a Level 3 fair value in the fair value hierarchy as one or more of the significant inputs is not based on observable market data. The valuation model is highly sensitive to the probability weights applied to the timing of the placement of the purchase order, which is a significant unobservable input. In the event the purchase order is placed before maturity date of the notes, the interest rate would become zero-coupon and, the fair value of the derivative would decrease by $ 0.9 million.

Contributed Equity

Contributed Equity	12 Months Ended
	Dec. 31, 2024
Disclosure of classes of share capital [abstract]
Contributed Equity	Note 23 Contributed Equity Share capital December 31, December 31, December 31, December 31, 2024 2023 2024 2023 Number of shares Number of shares Amount Amount Ordinary shares Fully paid 567,941,993 488,733,461 $ 367,537,075 $ 338,425,286 Ordinary Share Capital Date Details Note Number of Issue Amount January 1, 2023 Balance 486,774,622 $ — $ 338,108,198 March 15, 2023 Exercise of options (e) 33,333 $ 0.50 11,080 Exercise of performance rights (c) 8,309 $ — — March 23, 2023 Exercise of options (e) 66,666 $ 0.90 40,273 April 12, 2023 Exercise of performance rights (c) 1,910 $ — — May 1, 2023 Exercise of performance rights (c) 23,356 $ — — June 29, 2023 Exercise of performance rights (c) 39,515 $ — — July 21, 2023 Exercise of performance rights (c) 314,276 $ — — August 1, 2023 Exercise of performance rights (c) 6,002 $ — — August 21, 2023 Exercise of performance rights (c) 4,312 $ — — August 29, 2023 Exercise of options (e) 500,000 $ 0.70 225,729 Exercise of share rights (f) 419,719 $ — — September 1, 2023 Exercise of performance rights (c) 250,000 $ — — October 20, 2023 Exercise of performance rights (c) 18,174 $ — — October 24, 2023 Exercise of options (e) 150,000 $ 0.55 52,439 November 21, 2023 Exercise of performance rights (c) 7,526 $ — — November 28, 2023 Exercise of performance rights (c) 2,178 $ — — December 8, 2023 Exercise of performance rights (c) 21,563 $ — — December 14, 2023 Exercise of performance rights (c) 92,000 $ — — Share issue costs ( 12,433 ) December 31, 2023 Balance 488,733,461 $ 338,425,286 January 19, 2024 Exercise of performance rights (c) 125,200 $ — — February 15, 2024 Exercise of performance rights (c) 7,130 $ — — March 14, 2024 Exercise of performance rights (c) 3,841 $ — — April 18, 2024 Exercise of options (e) 33,334 $ 0.50 10,727 April 19, 2024 Exercise of performance rights (c) 9,041 $ — — May 2, 2024 Exercise of performance rights (c) 35,490 $ — — June 4, 2024 Exercise of performance rights (c) 8,987 $ — — June 13, 2024 Exercise of performance rights (c) 32,042 $ — — June 28, 2024 Exercise of performance rights (c) 15,409 $ — — July 12, 2024 Exercise of performance rights (c) 297,885 $ — — July 16, 2024 Exercise of options (e) 3,415,759 $ — 1,605,677 July 29, 2024 Exercise of performance rights (c) 16,684 $ — — September 2, 2024 Exercise of performance rights (c) 250,000 $ — — September 2, 2024 Exercise of share rights (f) 65,405 $ — — September 4, 2024 Exercise of performance rights (c) 618,129 $ — — September 19, 2024 Exercise of performance rights (c) 46,005 $ — — September 24, 2024 Exercise of performance rights (c) 33,193 $ — — October 2, 2024 Exercise of performance rights (c) 2,479 $ — — November 1, 2024 Exercise of performance rights (c) 7,321 $ — — November 12, 2024 Exercise of performance rights (c) 7,522 $ — — December 2, 2024 Placement shares 74,064,647 $ 0.60 28,807,889 December 12, 2024 Exercise of performance rights (c) 113,029 $ — — Share issue costs — ( 1,312,504 ) December 31, 2024 Balance 567,941,993 367,537,075 Exercise of Performance Rights During the year ended December 31, 2024, 110,686 ordinary shares were issued to non-KMP employees, and 1,518,701 were issued to KMP on the exercise of vested performance rights (Chris Burns 759,931 ; Nick Liveris 359,422 ; Rashda Buttar 295,479 ; Darcy MacDougald 103,869 ). During the year ended December 31, 2023, 699,961 ordinary shares were issued to non-KMP employees, and 89,160 were issued to KMP Rashda Buttar, on the exercise of vested performance rights. Exercise of Options On July 16, 2024, 12,000,000 options were exercised at AUD $ 0.50 per share using the cashless exercise mechanism, resulting in the issue of 3,415,759 ordinary shares. On April 18, 2024, 33,334 options were exercised at AUD $ 0.50 per share. On October 24, 2023, 150,000 options were exercised at AUD$ 0.55 per share. On August 29, 2023, 500,000 options were exercised at AUD $ 0.70 per share. On March 23, 2023, 66,666 options were exercised at AUD$ 0.90 per share. On March 15, 2023, 33,333 options were exercised at AUD$ 0.50 per share. Exercise of Share Rights On August 29, 2023, 419,719 ordinary shares were issued to Directors on the vesting of share rights (See Note 28 - Share-based Payments ). On July 7, 2022, 302,539 ordinary shares were issued to Directors on the vesting of share rights (See Note 28 – Share-based Payments ). Capital Management The Company’s objectives when managing capital are to safeguard its ability to continue as a going concern, so that it can continue to provide returns for shareholders, benefits for other stakeholders and to maintain an optimal capital structure to reduce the cost of capital. The capital structure of the Company includes equity attributable to equity holders, comprising of issued capital, reserves and accumulated losses. In order to maintain or adjust the capital structure, the Company may issue new shares, sell assets to reduce debt or adjust the level of activities undertaken by the company. The Company monitors capital on the basis of cash flow requirements for operational, and exploration and evaluation expenditure. The Company will continue to use capital market issues to satisfy anticipated funding requirements. The Company has no externally imposed capital requirements. The Company’s strategy for capital risk management is unchanged from prior years.

Reserves

Reserves	12 Months Ended
	Dec. 31, 2024
Disclosure of reserves within equity [abstract]
Reserves	Note 24 Reserves December 31, December 31, (in U.S. dollars) 2024 2023 Share-based payment reserve $ 45,642,323 $ 42,462,654 Foreign currency translation reserve ( 20,442,256 ) ( 16,626,921 ) Convertible loan note reserve 4,523,095 4,523,095 $ 29,723,162 $ 30,358,828 Share-based Payment Reserve December 31, December 31, (in U.S. dollars) 2024 2023 Share-based payment reserve $ 45,642,323 $ 42,462,654 Movements: Opening balance 42,462,654 37,161,498 Performance rights cash settled in current period (See Note 28 – Share-based Payments) ( 603,932 ) ( 296,432 ) Cashless exercise of options ( 1,605,677 ) — Equity settled share-based payments 5,523,560 5,621,960 Exchange differences ( 134,282 ) ( 24,372 ) Closing balance $ 45,642,323 $ 42,462,654 The share-based payment reserve includes items recognized as expenses on valuation of director, employee and contractor options and performance rights. Foreign Currency Translation Reserve December 31, December 31, (in U.S. dollars) 2024 2023 Foreign currency translation reserve $ ( 20,442,256 ) $ ( 16,626,918 ) Movements: Opening balance ( 16,626,918 ) ( 15,136,944 ) Exchange differences on translation of foreign operations ( 3,813,897 ) ( 1,489,974 ) Closing balance $ ( 20,440,815 ) $ ( 16,626,918 ) The foreign currency translation reserve includes exchange differences arising on translation of a foreign-controlled subsidiary.

Operating Segments

Operating Segments	12 Months Ended
	Dec. 31, 2024
Disclosure of operating segments [abstract]
Operating Segments	Note 25 Operating Segments The Company has identified its operating segments based on the internal reports that are reviewed and used by the Executive Key Management Personnel Board of Directors (Chief Operating Decision Makers or “CODM”) in assessing performance and determining the allocation of resources. The Company is managed primarily on an operational basis. Operating segments are determined on the basis of financial information reported to the Board. The CODM has identified three operating segments being Battery Materials, Battery Technology and Graphite Exploration. The Battery Materials segment develops and manufactures battery anode materials, and the Battery Technology segment develops battery cell testing equipment, performs consulting services and carries out research and development in battery development. The Graphite Exploration segment manages the maintenance and future development of Mount Dromedary natural graphite deposit. The Company will reassess reportable segments if and when the assets held for sale are sold. See Note 16 - Exploration and Evaluation Assets. Basis of Accounting for Purposes of Reporting by Operating Segments • Accounting policies adopted: Unless stated otherwise, all amounts reported to the Board, being the chief operating decision makers, with respect to operating segments, are determined in accordance with accounting policies that are consistent with those adopted in the annual consolidated financial statements of the Company. • Segment assets: Where an asset is used across multiple segments, the asset is allocated to the segment that receives the majority of the economic value from the asset. In most instances, segment assets are clearly identifiable on the basis of their nature and physical location. • Segment liabilities: Liabilities are allocated to segments where there is a direct nexus between the incurrence of the liability and the operations of the segment. Borrowings and tax liabilities are generally considered to relate to the Company as a whole and are not allocated. Segment liabilities include trade and other payables. • Unallocated items: The following items for revenue, expenses, assets and liabilities are not allocated to operating segments as they are not considered part of the core operations of any segment: – Interest income – Corporate administrative and other expenses – Income tax expense – Corporate share-based payment expenses – Corporate marketing and project development expenses – Corporate cash and cash equivalents – Corporate trade and other payables – Corporate trade and other receivables Segment Information Segment Performance Year Ended December 31, 2024 (in U.S. dollars) Battery Battery Graphite Segment revenue 1 $ — $ 5,854,424 $ — Other income 959,122 1,933,064 — Total income 959,122 7,787,488 — Product manufacturing and operating costs (exclusive of depreciation presented separately) — ( 1,770,517 ) — Administrative and other expenses ( 11,679,814 ) ( 2,252,663 ) — Depreciation and amortization expenses ( 3,562,475 ) ( 1,006,494 ) — Research and development costs ( 4,127,248 ) ( 722,322 ) — Employee benefits expense ( 15,106,300 ) ( 8,474,395 ) — Borrowing costs ( 1,445,374 ) ( 345,394 ) — Segment net loss before tax $ ( 34,962,089 ) $ ( 6,784,297 ) $ — Aggregated Segment net loss before tax $ ( 41,746,386 ) Interest income 1,370,930 Other income 10,063 Other expenses ( 1,175,499 ) Administrative and other expenses ( 5,986,817 ) Employee benefits expense ( 52,223 ) Loss on equity investment securities at fair value through profit or loss ( 15,308,187 ) Share based compensation ( 5,523,560 ) Borrowing costs ( 1,776,230 ) (Loss)/gain on fair value of derivative financial instruments ( 4,536,546 ) Net loss before tax $ ( 74,724,454 ) Year Ended December 31, 2023 (in U.S. dollars) Battery Battery Graphite Segment revenue 1 $ — $ 8,054,529 $ — Other income 37,360 1,936,862 — Total income 37,360 9,991,391 — Product manufacturing and operating costs (exclusive of depreciation presented separately) — ( 2,817,269 ) — Administrative and other expenses ( 9,658,074 ) ( 2,686,861 ) — Impairment losses — — — Depreciation and amortization expenses ( 3,798,626 ) ( 941,509 ) — Research and development costs ( 5,458,721 ) ( 291,853 ) — Employee benefits expense ( 10,196,303 ) ( 8,221,139 ) — Borrowing costs ( 1,408,421 ) ( 474,829 ) — Segment net loss before tax $ ( 30,482,785 ) $ ( 5,442,069 ) $ — Aggregated Segment net loss before tax $ ( 35,924,854 ) Interest income 1,611,128 Other income 24,550 Other expenses 1,359,866 Administrative and other expenses ( 6,518,961 ) Employee benefits expense ( 1,922,438 ) Loss on equity investment securities at fair value through profit or loss — Share based compensation ( 5,621,969 ) Borrowing costs ( 980,852 ) (Loss)/gain on fair value of derivative financial instruments 1,525,320 Net loss before tax $ ( 46,448,210 ) Six Months Ended December 31, 2022 (in U.S. dollars) Battery Battery Graphite Segment revenue 1 $ — $ 2,702,276 $ — Other income 35,154 260,536 — Total income 35,154 2,962,812 — Product manufacturing and operating costs (exclusive of depreciation presented separately) — ( 1,319,682 ) — Administrative and other expenses ( 3,562,171 ) ( 846,562 ) Impairment losses — — — Depreciation and amortization expenses ( 2,204,862 ) ( 367,157 ) — Research and development costs ( 1,729,910 ) ( 290,746 ) Employee benefits expense ( 4,531,566 ) ( 3,363,334 ) — Borrowing costs ( 723,225 ) ( 220,196 ) Segment net loss before tax $ ( 12,716,580 ) $ ( 3,444,865 ) $ — Aggregated Segment net loss before tax $ ( 16,161,445 ) Interest income 19,416 Other expenses 1,360,308 Administrative and other expenses ( 7,072,914 ) Employee benefits expense ( 654,950 ) Share based compensation ( 5,354,429 ) Net loss before tax $ ( 27,864,014 ) Year Ended June 30, 2022 Battery Battery Graphite Segment revenue 1 $ — $ 6,099,815 $ — Other income 385,482 1,202,324 — Interest income — — — Total income 385,482 7,302,139 — Product manufacturing and operating costs (exclusive of depreciation presented separately) ( 15,255 ) ( 1,709,369 ) — Administrative and other expenses ( 4,033,109 ) ( 1,854,309 ) — Borrowing costs ( 1,264,020 ) ( 248,197 ) — Depreciation and amortization expenses ( 3,436,998 ) ( 777,619 ) — Research and development costs ( 3,800,667 ) ( 1,302,157 ) — Employee benefits expense ( 5,640,607 ) ( 4,787,680 ) — Segment net loss before tax $ ( 17,805,174 ) $ ( 3,377,192 ) — Aggregated Segment net loss before tax $ ( 21,182,366 ) Segment revenue 1 1,340 Interest income 8,314 Other expenses 5,195,797 Administrative and other expenses ( 6,704,291 ) Employee benefits expense ( 2,308,302 ) Nasdaq listing related expenses ( 4,226,062 ) Loss on equity investment securities at fair value through profit or loss ( 8,113,657 ) Share based compensation ( 14,530,749 ) Borrowing costs ( 331 ) Net loss before tax $ ( 51,860,307 ) 1 See Note 3 - Revenue , for segment revenue by product line for the year ended December 31, 2024 and 2023, six months ended December 31, 2022, and year ended June 30, 2022. Segment Assets At December 31, 2024 (in U.S. dollars) Battery Battery Graphite Unallocated Total Segment assets $ 169,314,731 $ 15,235,436 $ 2,049,907 $ 39,495,467 $ 226,095,541 At December 31, 2023 (in U.S. dollars) Battery Battery Graphite Unallocated Total Segment assets $ 147,476,907 $ 20,367,755 $ 2,225,693 $ 93,272,688 $ 263,343,043 Segment liabilities December 31, 2024 (in U.S. dollars) Battery Battery Graphite Unallocated Total Segment liabilities $ 44,383,959 $ 8,085,044 $ — $ 36,036,281 $ 88,505,284 December 31, 2023 (in U.S. dollars) Battery Battery Graphite Unallocated Total Segment liabilities $ 69,102,062 $ 9,874,301 $ — $ 430,405 $ 79,406,768 Geographical Segments For the purposes of segment reporting, all segment activities relating to Graphite Exploration are carried out in Australia and all segment activities relating to Battery Materials and Battery Technology are carried out in North America. For the year ended December 31, 2024, North America, Asia, Australia, and Europe accounted for 71 %, 22 %, 3 %, and 4 % of re venues, respectively. For the year ended December 31, 2023, North America, Asia, Australia, and Europe accounted for 82 %, 8 %, 6 % and 4 % of revenues, respectively. For the six months ended December 31, 2022, North America, Asia, Australia, and Europe accounted for 85 %, 11 %, 3 % and 1 % of revenues, respectively. For the year ended June 30, 2022, North America, Asia, and Europe accounted for 79 %, 17 % and 4 % of revenues, respectively. For the year December 31, 2024, the Company had two customers, included in the consulting services revenue stream that accounted for approximately 13 % and 12 % of total revenues, respectively and one major customer, included in the hardware sales revenue stream, that accounted for 16 % of total revenue. For the year ended December 31, 2023, the Company had two customers, included in consulting services revenue stream, that accounted for approximately 17 % and 15 % of total revenues, respectively. For the six months December 31, 2022, the Company had three major customers, included in the consulting services revenue stream, that accounted for approximately 27 %, 22 %, and 11 % of total revenue, respectively and two major customers, included in the hardware revenue stream, that accounted for approximately 25 % and 12 % of total revenues, respectively. For the year ended June 30, 2022, the Company had two customers, included in the consulting services revenue stream, that accounted for approximately 15 %, and 12 % of total revenues, respectively and one major customer, included in the hardware and consulting services revenue streams, that accounted for 11 % of total revenue.

Cash Flow Information

Cash Flow Information	12 Months Ended
	Dec. 31, 2024
Cash Flow Information [Abstract]
Cash Flow Information	Note 26 Cash Flow Information Reconciliation of net profit / (loss) to net cash outflow from operating activities: Year Ended December 31, Six Months Ended December 31, Year Ended June 30, 2024 2023 2022 2022 (in U.S. dollars) Net loss $ ( 74,822,141 ) $ ( 46,248,261 ) $ ( 27,864,014 ) $ ( 51,860,307 ) Adjustments for Share-based compensation 5,523,560 5,620,643 5,357,063 14,680,945 Borrowing costs 1,825,132 983,833 44,960 46,603 Fixed assets written off 103,299 — — — Loss on sale of fixed assets — — 33,485 — Software written off — — 96,596 — Fair value movement in derivative (gain) / loss 4,536,546 ( 1,512,859 ) — — Loss on equity investment securities at fair value through profit or loss 15,308,187 — — 7,937,633 Impairment expense — Foreign exchange (gain) / loss ( 512,273 ) ( 137,781 ) ( 1,368,856 ) ( 5,144,766 ) Non-cash termination settlement — — — — Depreciation and amortization expense 4,568,969 4,739,719 2,572,018 4,214,620 Government incentives — — — ( 219,557 ) Change in operating assets and liabilities: Decrease/(increase) in other trade receivables 1,595,928 ( 567,851 ) 232,354 ( 991,503 ) Decrease /(increase) in inventories 455,643 1,202,967 ( 1,383,644 ) 166,178 (Increase)/Decrease in other operating assets ( 1,530,827 ) 629,315 2,432,642 ( 3,543,910 ) (Increase)/decrease in deferred tax assets 85,121 ( 200,992 ) — — Increase/(decrease) in trade creditors 1,415,363 ( 1,368,063 ) 1,340,692 ( 90,690 ) Increase in income taxes payable — 107,458 — — Decrease/(increase) in other operating liabilities 1,029,724 523,449 ( 359,867 ) 5,575,399 Net cash outflow from operating activities $ ( 40,417,769 ) $ ( 36,228,423 ) $ ( 18,866,571 ) $ ( 29,229,355 ) Net Debt Reconciliation This section sets out an analysis of net debt and the movements in net debt for each period presented. December 31, December 31, 2024 2023 (in U.S. dollars) Cash and cash equivalents $ 42,557,621 $ 78,713,885 Lease liability - repayable within one year ( 522,297 ) ( 345,933 ) Borrowings – repayable within one year (including overdraft) ( 31,668,810 ) ( 29,895,899 ) Lease liability - repayable after one year ( 6,488,119 ) ( 4,479,627 ) Borrowings – repayable after one year ( 32,775,271 ) ( 34,666,291 ) Net cash (debt) $ ( 28,896,876 ) $ 9,326,135 Cash and cash equivalents 42,557,621 78,713,885 Gross debt – fixed interest rates ( 38,770,675 ) ( 35,176,279 ) Gross debt – variable interest rates ( 32,683,822 ) ( 34,211,471 ) Net cash (debt) $ ( 28,896,876 ) $ 9,326,135 Liabilities from financing activities (in U.S. dollars) Cash Borrowings due Borrowings due Total Net cash as of January 1, 2023 $ 99,039,172 $ ( 1,438,692 ) $ ( 39,903,148 ) $ 57,697,332 Cashflows ( 18,653,649 ) 1,428,959 ( 30,752,830 ) ( 47,977,520 ) Other non-cash movements ( 1,671,638 ) ( 1,677,889 ) 2,955,850 ( 393,677 ) Net cash as of December 31, 2023 78,713,885 ( 1,687,622 ) ( 67,700,128 ) 9,326,135 Cashflows ( 36,156,264 ) 1,587,931 — ( 34,568,333 ) Other non-cash movements — ( 31,569,119 ) 34,924,857 3,355,738 Net cash as of December 31, 2024 $ 42,557,621 $ ( 31,668,810 ) $ ( 32,775,271 ) $ ( 21,886,460 ) Non-cash Investing and Financing Activities Non-cash investing and financing activities disclosed in other notes are: • Right of use assets – See Note 20 - Leases • Options and shares issued to employees – See Note 28 – Share-based Payments

Interests in Subsidiaries

Interests in Subsidiaries	12 Months Ended
	Dec. 31, 2024
Default Root [Abstract]
Interests in Subsidiaries	Note 27 Interests in Subsidiaries Information about Principal Subsidiaries The Company’s material subsidiaries at December 31, 2023, are set out in the following table. Unless otherwise stated, each entity has share capital consisting solely of ordinary shares that are held by the Company, and the proportion of ownership interest held equals the voting rights held by the Company. The country of incorporation or registration is also their principal place of business. The functional currency of each of the Company’s entities is the currency of the primary economic environment in which that entity operates. The consolidated financial statements are presented in U.S. dollars (See Note 1 – Summary of Material Accounting Policy Information ). Ownership interest Place of business Functional 2024 2023 Principal Name of entity incorporation Currency % % activities MD South Tenements Pty Ltd Australia AUD 100 % 100 % Graphite exploration NOVONIX Battery Technology Solutions, Inc. Canada CAN 100 % 100 % Battery technology services NOVONIX Corp USA USD 100 % 100 % Investment and management NOVONIX Anode Materials, LLC USA USD 100 % 100 % Battery materials development and production NOVONIX 1029, LLC USA USD 100 % 100 % Real estate borrower

Share-based Payments

Share-based Payments	12 Months Ended
	Dec. 31, 2024
Disclosure of terms and conditions of share-based payment arrangement [abstract]
Share-based Payments	Note 28 Share-based payments Performance Rights and Options Employees of the Company participate in the Company’s long-term incentive program (“LTIP”) comprising grants of performance rights and options with varying vesting conditions. The performance rights and options carry no dividend or voting rights. Performance rights and options may vest immediately or dependent on the recipient remaining in employment, or achievement of performance-related vesting conditions, by the vesting date. Upon vesting, each performance right and option is convertible into one ordinary share of NOVONIX Limited. If an executive ceases employment before the rights or options vest, the rights or options will be forfeited, except in limited circumstances that they are approved by the Board on a case-by-case basis. Share Rights Non-executive Directors participate on an annual grant of equity awards using a value-based approach, which the Board has adopted by issuing Share Rights to Non-executive Directors of the Company each financial year with a fixed US dollar value. As a sign of the Board’s long-term commitment to investors and the Company, effective January 1, 2024, Directors reduced the value of share rights they received from $ 110,000 to $ 55,000 . The share rights carry no dividend or voting rights. Upon vesting, each share right is convertible into one ordinary share of NOVONIX Limited. If a non-executive director ceases to hold office before the share rights vest, the rights will convert on a prorate basis. The following table presents the composition of share-based payments expense for the years ended December 31, 2024 and 2023, six-months ended December 31, 2022, and the year ended June 30, 2022. Year Ended December 31, Six Months Ended December 31, Year Ended June 30, (in U.S. dollars) 2024 2023 2022 2022 Share rights granted in current year $ 402,966 $ 31,943 $ 444,480 2,620,399 Share rights granted in prior year — 368,039 — — Performance rights granted in current year 2,407,539 989,336 2,274,551 10,810,456 Performance rights granted in prior years 3,225,525 4,104,908 2,582,698 192,285 Options granted in current year — — — — Options granted in prior years ( 512,470 ) 127,734 52,700 907,609 Share based payment expense 5,523,560 5,621,960 5,354,429 14,530,749 Payments of withholding tax - Performance rights ( 603,932 ) ( 296,432 ) ( 133,878 ) ( 2,501,992 ) Cashless exercise of options ( 1,605,677 ) — — — Exchange differences ( 134,282 ) ( 24,373 ) ( 84,564 ) — Movement in share-based payments reserve $ 3,179,669 $ 5,301,155 $ 5,135,987 $ 12,028,757 SHARE RIGHTS A summary of movements of all share rights issued is as follows: Number on issue Share rights outstanding at January 1, 2023 436,403 Granted 65,405 Forfeited ( 16,684 ) Exercised ( 419,719 ) Share rights outstanding at December 31, 2023 65,405 Share rights exercisable at January 1, 2024 65,405 Granted 632,890 Forfeited — Exercised ( 65,405 ) Share rights outstanding at December 31, 2024 632,890 Share rights exercisable at December 31, 2024 632,890 During the year ended December 31, 2024, share rights were granted to non-executive Directors, as set out in the table below. The share rights are convertible to ordinary shares on a 1 :1 basis and vest on receipt of Shareholder approval. The value of each share right was determined with reference to the market value of the underlying securities on grant date. An expense of $ 402,966 was recognized for the year ended December 31, 2024. During the year ended December 31, 2023, share rights were granted to a non-executive Director, Ron Edmonds, subject to shareholder approval at the 2024 Annual General Meeting. The share rights are convertible to ordinary shares on a 1 :1 basis and vest on receipt of Shareholder approval. The value of each share right was determined with reference to the market value of the underlying securities on grant date. An expense of $ 31,943 was recognized for the year ended December 31, 2023. Further details of the share rights granted during the year December 31, 2024, are set out in the table below: Name Grant date Number Vesting date Fair value (AUD) Expiry Expense recognized Anthony Bellas January 1, 2024 109,749 December 31, 2024 $ 0.97 December 31, 2025 $ 69,878 Sharan Burrow January 1, 2024 84,145 December 31, 2024 $ 0.97 December 31, 2025 $ 53,576 Ron Edmonds January 1, 2024 109,749 December 31, 2024 $ 0.97 December 31, 2025 $ 69,878 Robert Natter January 1, 2024 109,749 December 31, 2024 $ 0.97 December 31, 2025 $ 69,878 Jean Oelwang January 1, 2024 109,749 December 31, 2024 $ 0.97 December 31, 2025 $ 69,878 Phillips 66 January 1, 2024 109,749 December 31, 2024 $ 0.97 December 31, 2025 $ 69,878 Total expense recognized $ 402,966 PERFORMANCE RIGHTS For executive LTI awards granted in 2024, all performance rights vest based on corporate performance, with others vesting solely based on time. Payouts are measured based on achievement of relative TSR (versus a peer group of 20 companies primarily focused on the diversified metals and electronic equipment industries) over a three-year performance period and are capped at the target opportunity. Performance rights require a minimum level of relative TSR ( 35 th percentile) to achieve any payout, regardless of revenue earned, and a relative TSR of at least 60 th percentile to pay out at the highest level. Performance rights granted in 2024 also include a revenue modifier based on the attainment of a three-year revenue goal (with the payout still capped at the target opportunity). The number of FY24 Performance Rights that will vest upon satisfaction of the TSR Measure (specified above) will be adjusted based on the Company meeting certain revenue milestones in respect of the 2026 Financial Year (assessed as at December 31, 2026). Notwithstanding the Revenue Target Modifier, the total number of Performance Rights that can vest shall not exceed the number of Performance Rights representing the target opportunity. Other Performance rights outstanding prior to December 31, 2024, are vesting, based on the achievement of performance criteria, such as corporate goals (achievement of revenue targets for a specified period of time) , and those vesting only based on continued service over time. A summary of movements of all performance rights issued is as follows: Number on issue 2024 Performance rights outstanding at January 1, 2023 11,011,895 Granted 4,631,721 Forfeited ( 962,688 ) Exercised ( 1,252,558 ) Performance rights outstanding at December 31, 2023 13,428,370 Granted 16,287,972 Forfeited ( 5,819,922 ) Exercised ( 2,879,589 ) Performance rights outstanding at December 31, 2024 21,016,831 Performance rights vested at December 31, 2024 — Performance Rights Granted in the Current Period During the years ended December 31, 2024 and 2023, performance rights (convertible to ordinary shares on a 1 :1 basis) were granted to Key Management Personnel, other employees and contractors as set out in the table below. The value of each performance right was determined with reference to the market value of the underlying securities on grant date. Further details of the performance rights are set out in the table below: Name Grant date Number Vesting date Fair value (AUD) Expiry Expense recognized Rashda Buttar April 18, 2024 1,075,930 December 31, 2026 $ 0.89 Cessation of employment $ 210,918 Chris Burns April 18, 2024 3,658,161 December 31, 2026 $ 0.89 Cessation of employment $ 716,965 Darcy MacDougald April 18, 2024 1,075,930 December 31, 2026 $ 0.89 Cessation of employment $ 210,872 Robert Long October 8, 2024 1,144,130 December 31, 2026 $ 0.70 Cessation of employment 74,794 Nick Liveris April 18, 2024 1,398,709 December 31, 2026 $ 0.89 Cessation of employment — Non-KMP employees January 31, 2024 5,523,634 ¼ January 5, 2025 $ 0.57 Cessation of employment 824,722 ¼ January 5, 2026 Cessation of employment ¼ January 5, 2027 Cessation of employment ¼ January 5, 2028 Cessation of employment Non-KMP employees February 16, 2024 722,884 ¼ January 5, 2025 $ 0.84 Cessation of employment 172,554 ¼ January 5, 2026 Cessation of employment ¼ January 5, 2027 Cessation of employment ¼ January 5, 2028 Cessation of employment Non-KMP employees February 21, 2024 172,400 $ 0.80 Cessation of employment 43,841 Non-KMP employees March 11, 2024 96,014 $ 1.01 Cessation of employment — Non-KMP employees March 25, 2024 96,014 $ 0.87 Cessation of employment 22,195 Non-KMP employees April 5, 2024 17,195 $ 1.01 Cessation of employment 7,189 Non-KMP employees April 8, 2024 80,612 4 equal annual $ 0.87 Cessation of employment 17,610 Non-KMP employees April 15, 2024 181,376 tranches $ 0.83 Cessation of employment 37,030 Non-KMP employees April 29, 2024 82,425 commencing on the $ 0.72 Cessation of employment 13,818 Non-KMP employees May 27, 2024 58,423 anniversary of $ 0.69 Cessation of employment 8,265 Non-KMP employees August 23, 2024 171,834 employment $ 0.61 Cessation of employment 14,096 Non-KMP employees October 16, 2024 93,328 $ 0.81 Cessation of employmen t 6,626 Non-KMP employees October 22, 2024 382,022 $ 0.84 Cessation of employment 19,097 Non-KMP employees November 12, 2024 45,822 $ 0.84 Cessation of employment 2,425 Non-KMP employees December 2, 2024 211,129 $ 0.72 Cessation of employment 4,522 Total number issued 16,287,972 $ 2,407,539 Performance Rights Net Settled for Withholding Tax Obligations The Company has an obligation to withhold tax on the vesting of performance rights for employee’s resident in the USA and Canada. As consideration for the withholding tax, the Company reduces the number of shares to be issued to the employees (net settled). During the year ended December 31, 2024, the Company net settled the following share-based payments: Name Performance rights Net settled shares Withholding obligation Non-KMP employees 1,295,643 818,740 $ 235,153 Chris Burns 759,931 349,568 196,487 Rashda Buttar 295,479 165,208 63,723 Nick Liveris 359,422 192,002 79,103 Darcy MacDougald 169,114 103,869 29,466 Total $ 603,932 OPTIONS A summary of movements of all options issued is as follows: Number on issue Weighted Average Exercise Price (AUD) Options outstanding as of January 1, 2023 29,093,334 $ 0.52 Granted to employees — — Forfeited ( 133,334 ) $ 1.30 Exercised ( 749,999 ) $ 0.68 Options outstanding as of December 31, 2023 28,210,001 $ 0.50 Vested options outstanding as of December 31, 2023 12,676,667 $ 0.50 Forfeited ( 5,010,000 ) $ 0.50 Exercised ( 12,033,334 ) $ 0.50 Options outstanding as of December 31, 2024 11,166,667 $ 0.50 Vested options outstanding as of December 31, 2024 666,667 $ 0.50 The weighted average remaining contractual life of options outstanding at December 31, 2024 was 4.3 years, and at December 31, 2023 was 3.4 years. The exercise price for options outstanding at December 31, 2024, was AUD$ 0.50 , and at December 31, 2023 the range of exercise prices was AUD$ 0.50 to AUD$ 0.55 . There were no options granted during the years ended December 31, 2024 and 2023.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2024
Related party transactions [abstract]
Related Party Transactions	Note 29 Related Party Transactions During the year ended December 31, 2024 there were the following related party transactions: • On April 18, 2024, 3,658,161 performance rights were granted to Chris Burns as an LTI. The performance rights (convertible to ordinary shares on a 1 :1 basis) vest on December 31, 2026 . The performance rights vest subject to the achievement of performance conditions. An expense of $ 716,966 was recognized during the year ended December 31, 2024, relating to these performance rights. • On April 18, 2024, 1,075,930 performance rights were granted to Rashda Buttar as an LTI. The performance rights (convertible to ordinary shares on a 1 :1 basis) vest on December 31, 2026 . The performance rights vest subject to the achievement of performance conditions. An expense of $ 210,918 was recognized during the year ended December 31, 2024, relating to these performance rights. • On April 18, 2024, 1,398,709 performance rights were granted to Nick Liveris as an LTI. These performance rights lapsed on cessation of Nick Liveris’ employment with the Company, and accordingly no expense was recognized during the year ended December 31, 2024, relating to these performance rights. • On April 18, 2024, 1,075,930 performance rights were granted to Darcy MacDougald as an LTI. The performance rights (convertible to ordinary shares on a 1 :1 basis) vest on December 31, 2026 . The performance rights vest subject to the achievement of performance conditions. An expense of $ 210,873 was recognized during the year ended December 31, 2024, relating to these performance rights. • On April 18, 2024, 109,749 share rights were granted to Tony Bellas. The share rights (convertible to ordinary shares on a 1 :1 basis) vest on December 31, 2024 . An expense of $ 69,893 was recognized during the year ended December 31, 2024, relating to these share rights. • On April 18, 2024, 109,749 share rights were granted to Robert Natter. The share rights (convertible to ordinary shares on a 1 :1 basis) vest on December 31, 2024 . An expense of $ 69,893 was recognized during the year ended December 31, 2024, relating to these share rights. • On April 18, 2024, 109,749 share rights were granted to Phillips 66 Company. The share rights (convertible to ordinary shares on a 1 :1 basis) vest on December 31, 2024 . An expense of $ 69,893 was recognized during the year ended December 31, 2024, relating to these share rights. • On April 18, 2024, 109,749 share rights were granted to Jean Oelwang. The share rights (convertible to ordinary shares on a 1 :1 basis) vest on December 31, 2024 . An expense of $ 69,893 was recognized during the year ended December 31, 2024, relating to these share rights. • On April 18, 2024, 109,749 share rights were granted to Ron Edmonds. The share rights (convertible to ordinary shares on a 1 :1 basis) vest on December 31, 2024 . An expense of $ 69,893 was recognized during the year ended December 31, 2024, relating to these share rights. • On April 18, 2024, 84,145 share rights were granted to Sharan Burrow. The share rights (convertible to ordinary shares on a 1 :1 basis) vest on December 31, 2024 . An expense of $ 53,587 was recognized during the year ended December 31, 2024, relating to these share rights. • On October 8, 2024, 1,144,130 performance rights were granted to Robert Long as an LTI. The performance rights (convertible to ordinary shares on a 1 :1 basis) vest on December 31, 2026 . The performance rights vest subject to the achievement of performance conditions. An expense of $ 74,794 was recognized during the year ended December 31, 2024, relating to these performance rights. • During the year ended December 31, 2024, Phillips 66 were paid fees totaling $ 57,500 for Mr Suresh Vaidyanathan’s services to the Company as a Director. Mr. Suresh Vaidyanathan is not permitted to receive remuneration in his personal capacity under the terms of his employment with Phillips 66 and terms of engagement with the Company. Accordingly, all fees earned by them are paid directly to Phillips 66. During the year ended December 31, 2023 there were the following related party transactions: • On April 5, 2023, 1,604,871 performance rights were granted to Chris Burns as an LTI. The performance rights (convertible to ordinary shares on a 1 :1 basis) vest on December 31, 2025 . 50 % of the performance rights vest subject to continued employment over the vesting period, and 50 % vest subject to the achievement of performance conditions. An expense of $ 119,312 was recognized during the six-months ended June 30, 2023 relating to these performance rights. • On April 5, 2023, 253,401 performance rights were granted to Rashda Buttar as an LTI. The performance rights (convertible to ordinary shares on a 1 :1 basis) vest on December 31, 2025 . 50 % of the performance rights vest subject to continued employment over the vesting period, and 50 % vest subject to the achievement of performance conditions. An expense of $ 18,839 was recognized during the six-months ended June 30, 2023, relating to these performance rights. • On April 5, 2023, 549,035 performance rights were granted to Nick Liveris as an LTI. The performance rights (convertible to ordinary shares on a 1 :1 basis) vest on December 31, 2025 . 50 % of the performance rights vest subject to continued employment over the vesting period, and 50 % vest subject to the achievement of performance conditions. An expense of $ 40,818 was recognized during the six-months ended June 30, 2023, relating to these performance rights. • During the year ended December 31, 2023, Phillips 66 were paid fees totaling $ 59,534 for Ms. Zhanna Golodryga's and Mr. Suresh Vaidyanathan’s services to the Company as Directors. Ms. Zhanna Golodryga and Mr. Suresh Vaidyanathan are not permitted to receive remuneration in their personal capacity under the terms of their employment with Phillips 66 and terms of engagement with the Company. Accordingly, all fees earned by them are paid directly to Phillips 66. There were no other related party transactions during the year ended December 31, 2024, or prior fiscal years. For details of disclosures relating to key management personnel, see Note 7 - Key Management Personnel Compensation.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2024
Commitments and Contingencies [Abstract]
Commitments and Contingencies	Note 30 Commitments and Contingencies Exploration Commitments December 31, December 31, (in U.S. dollars) 2024 2023 Commitments for payments under exploration permits in existence at the reporting date but not recognized as liabilities payable $ 470,763 $ 2,000 So as to maintain current rights to tenure of various exploration tenements, the Company will be required to outlay amounts in respect of tenement exploration expenditure commitments. These outlays, which arise in relation to granted tenements are noted above. The outlays may be varied from time to time, subject to approval of the relevant government departments, and may be relieved if a tenement is relinquished. Exploration commitments are calculated on the assumption that each of these tenements will be held for its full term. But, in fact, commitments will decrease materially as exploration advances and ground that is shown to be unprospective is progressively surrendered. Expenditure commitments on prospective ground will be met out of existing funds, farm-outs, and new capital raisings. Capital Commitments Significant capital expenditure contracted for at the end of the reporting period but not recognized as liabilities is as follows: December 31, December 31, (in U.S. dollars) 2024 2023 Property, plant and equipment $ 52,968,336 $ 9,321,453 The capital commitments relate to purchases of property, plant and equipment in connection with the expansion of our business and development of our technologies in the NAM and BTS business segments and are expected to be recognized within the next twelve months. Legal Proceedings The Company is currently not a party to any material legal proceedings. From time to time, the Company may become involved in legal proceedings arising in the ordinary course of business. Such claims or legal actions, even if without merit, could result in the expenditure of significant financial and management resources and potentially result in civil liability for damages.

Financial Risk Management

Financial Risk Management	12 Months Ended
	Dec. 31, 2024
Disclosure of detailed information about financial instruments [abstract]
Financial Risk Management	Note 31 Financial Risk Management This note explains the Company’s exposure to financial risks and how these risks could affect the Company’s future financial performance. The current year profit or loss information has been included where relevant to add further context. The totals for each category of financial instruments, measured in accordance with IAS 39: Financial Instruments: Recognition and Measurement, as detailed in the accounting policies to these consolidated financial statements, are as follows: December 31, December 31, 2024 2023 (in U.S. dollars) Notes Financial assets Cash and cash equivalents $ 42,557,621 $ 78,713,885 Trade and other receivables 10, 12 9,610,361 4,358,833 Financial assets at fair value through profit or loss 15 — 16,666,665 Total financial assets 52,167,982 99,739,383 Financial liabilities Trade payables 18 998,258 1,342,369 Lease liabilities 20 7,010,416 4,825,560 Borrowings 21 64,444,081 64,562,190 Total financial liabilities $ 72,452,755 $ 70,730,119 The Board has overall responsibility for the determination of the Company’s risk management objectives and policies. The overall objective of the Board is to set policies that seek to reduce risk as far as possible without unduly affecting the Company’s competitiveness and flexibility. Market Risk Market risk is the risk that the change in market prices, such as foreign exchange rates, interest rates and equity prices will affect the Company’s income or the value of its holdings of financial instruments. The Company is exposed to price risk for its investment in KORE Power (Note 15). Foreign Currency Risk Foreign exchange risk arises from future transactions and recognized assets and liabilities denominated in a currency that is not the functional currency of the relevant Company entity. Exposure to foreign currency risk may result in the fair value or future cash flows of a financial instrument fluctuating due to movement in foreign exchange rates of currencies in which the Company holds financial instruments which are other than the USD. With instruments being held by overseas operations, fluctuations in the Canadian dollar may impact on the Company’s financial results. The following table shows the foreign currency risk as on the financial assets and liabilities of the Company’s operations denominated in currencies other than the functional currency of the operations. The Company’s exposure to foreign currency risk at the end of the reporting period, expressed in U.S. dollars, was as follows: December 31, 2024 December 31, 2023 December 31, 2024 December 31, 2023 Cash at bank $ — $ — $ 2,351,324 $ 32,748,324 Trade receivables — — 1,507,778 2,427,380 Trade payables 3,623 — 50,778 37,283 Cash Flow and Fair Value Interest Rate Risk The Company’s main interest rate risk arises from long-term borrowings with variable rates, which expose the Company to cash flow interest rate risk. During the year ended December 31, 2024, the Company’s borrowings at variable rates were denominated in Canadian and U.S. dollars. As the Company has interest-bearing cash assets, the Company’s income and operating cash flows are exposed to changes in market interest rates. The Company manages its exposure to changes in interest rates by using fixed term deposits. At December 31, 2024, if interest rates had changed by -/+ 100 basis points from the year-end rates with all other variables held constant, post-tax profit / (loss) for the year ended December 31, 2023, would have been $ 98,738 ($ 445,024 for the year ended December 31, 2023) lower/higher, as a result of higher/lower interest income from cash and cash equivalents. Credit Risk Credit risk is managed on a Company basis. Credit risk arises primarily from cash and cash equivalents and deposits with banks and financial institutions, and trade and other receivables. For banks and financial institutions, only independently rated parties with a minimum rating of ‘AAA’ are accepted. For trade and other receivables, amounts are considered as “past due” when the debt has not been settled, in line with the terms and conditions agreed between the Company and the customer to the transaction. Due to a strong credit approval process, the Company has a minimal history of bad debt write-offs. The balance of receivables that remain within initial trade terms are considered to be of high credit quality. The credit quality of financial assets that are neither past due nor impaired can be assessed by reference to external credit ratings (if available). Liquidity Risk Prudent liquidity risk management implies maintaining sufficient cash and marketable securities to meet obligations when due. The Company manages liquidity risk by continuously monitoring forecast and actual cash flows. No finance facilities were available to the Company at the end of the reporting period. All financial assets mature within one year. The maturity of all financial liabilities is set out in the table below. Financing Arrangements The Company’s undrawn borrowing facilities as at December 31, 2024 totals $ 62,000 which relates to the loan facilities secured over commercial land and buildings (See Note 21 - Borrowings ). Maturities of Financial Liabilities As of December 31, 2024, the contractual maturities of the Company’s non-derivative financial liabilities were as follows: Contractual maturities of Less than 6 – 12 Between Between Over Total Carrying At December 31, 2024 US$ US$ US$ US$ US$ US$ US$ Trade and other payables $ 8,524,141 $ — $ — $ — $ — $ 8,524,141 $ 8,524,141 Lease liabilities 404,400 404,400 841,152 2,730,770 4,178,969 8,559,691 7,010,416 Borrowings* 1,392,972 1,390,774 2,766,961 41,890,779 31,699,815 79,141,300 64,444,081 Total non-derivatives $ 10,321,513 $ 1,795,174 $ 3,608,113 $ 44,621,549 $ 35,878,784 $ 96,225,132 $ 79,978,638 * Includes convertible notes (note 22) with terms that allow for redemption in cash at maturity (June 2028) at the option of the holder.

Events After the Reporting Date

Events After the Reporting Date	12 Months Ended
	Dec. 31, 2024
Disclosure of non-adjusting events after reporting period [abstract]
Events After the Reporting Date	Note 32 Events after the Reporting Date Since December 31, 2024, the Company has: • issued 53,887,112 fully paid ordinary shares under a Share Purchase Plan at AUD$ 0.60 per share, raising AUD$ 32,332,267 . • issued 12,771,392 fully paid ordinary shares under an Institutional Placement to Phillips 66 Company atc AUD$ 0.60 per share, raising USD$ 5 million • on January 21, 2025, announced the planned transition in our CEO role, with Dr. Chris Burns stepping down as Chief Executive Officer effective January 24, 2025. Dr. Burns will continue to support the Company in an advisory capacity, serving as Special Advisor to the Board, in order to provide continuity, support ongoing operations of the Company and ensure a smooth transition. The Board has appointed Mr. Robert Long, our Chief Financial Officer, to serve as interim CEO, effective January 24, 2025, until a permanent CEO is appointed. Mr. Long will work closely with the Board to ensure a smooth transition and maintain our momentum and focus on our key strategic goals. There have been no other matters or circumstances that have arisen since the end of the twelve months ended December 31, 2024, which significantly affected or could significantly affect the operations of the Company, the results of those operations or the state of affairs of the Company in future financial years.

Unaudited Half Year Report

Unaudited Half Year Report	12 Months Ended
	Dec. 31, 2024
Disclosure Of Unaudited Half Year Report [Abstract]
Unaudited Half Year Report	Note 33 Unaudited Half Year Report The Company did not apply the amendments to IAS 1 in the unaudited Half-Year Report for the six months ended June 30, 2024, and therefore, the convertible notes of $ 29,452,429 and the related derivative financial instruments of $ 426,553 were incorrectly presented as non-current liabilities instead of current liabilities. As a result of the correction of an error to reflect the adoption of the amendments to IAS 1, current borrowings and current derivative financial liabilities should have been $ 30,856,176 and $ 426,553 , respectively. The effect of the adoption of the amendments to IAS 1 have no impact on the consolidated statement of profit and loss and other income, or net assets of the Company as previously reported.

Summary of Material Accountin_2

Summary of Material Accounting Policy Information (Policies)	12 Months Ended
	Dec. 31, 2024
Disclosure of initial application of standards or interpretations [abstract]
Basis of Preparation	Basis of Preparation These general-purpose consolidated financial statements of the Company have been prepared in accordance with International Financial Reporting Standards ("IFRS") as issued by the International Accounting Standards Board (“IASB”). Material accounting policies adopted in the preparation of these consolidated financial statements are presented below and have been consistently applied unless stated otherwise. Except for cash flow information, the consolidated financial statements have been prepared on an accruals basis and are based on historical costs, modified, where applicable, by the measurement at fair value of selected non-current assets, financial assets and financial liabilities.
Applying Materiality	Applying Materiality Management provides the specific accounting policies and disclosures required by IFRS unless the information is not applicable or is considered immaterial to the decision-making of the primary users of these financial statements.
Going Concern	Going Concern The consolidated financial statements have been prepared on a going concern basis, which contemplates continuity of normal business activities and the realization of assets and settlement of liabilities in the normal course of business. For the year ended December 31, 2024, the Company incurred a net loss of $ 74.8 million (year ended December 31, 2023: $ 46.2 million) and net operating cash outflows of $ 40.4 million (year ended December 31, 2023: $ 36.2 million). As of December 31, 2024, the Company has a cash balance of $ 42.6 million (December 31, 2023: $ 78.7 million) and net current asset s o f $ 11.1 million (December 31 , 2023: $ 51.9 million). The net loss and cash outflows incurred during the period principally relate to the Company continuing to execute its expansion plans to reach a production capacity of 150,000 tpa. This will involve significant capital expenditure to scale operations in line with customer offtake agreements, as well as current and future customer demand. The funding of these expansionary activities will require additional funding beyond the existing cash balance as of December 31, 2024, and forecasted customer inflows, in the twelve months from the date of approval of these financial statements. These conditions give rise to a material uncertainty which may cast significant doubt (or raise substantial doubt as contemplated by Public Company Accounting Oversight Board (“PCAOB”) standards) over the Company’s ability to continue as a going concern. Should the Company be unable to continue as a going concern, it may be unable to realize its assets and discharge its liabilities in the normal course of business, and at amounts stated in the financial report. The ability of the Company to continue as a going concern is principally dependent upon one or more of the following • continuing to be able to claim balances against the USD$ 100 grant from the Office of Manufacturing & Energy Supply Chains ("MESC") of the U.S. Department of Energy ("DOE"). During the year ended December 31, 2024, the Company submitted $ 19.2 million in reimbursement requests to the DOE Office of MESC for investments made at its Riverside facility in Chattanooga, Tennessee. An additional $ 5.1 million in reimbursement requests have been submitted to the DOE to the date of issuance of the financial statements. • the ability of the Company to raise funds as and when necessary, from either customers, governments, and/or investors in the form of debt or equity; • the successful and profitable growth of the battery materials, battery consulting, and battery technology businesses; and • the ability of the Company to meet its cash flow forecasts. The directors believe that the going concern basis of preparation is appropriate as the Company has a strong history of being able to raise capital from debt and equity sources, including through the issue of: • $ 25.8 million equivalent to 68.6 million ordinary shares to eligible shareholders pursuant to a share purchase plan in January 2025; · • $ 5 million equivalent to 12.8 million ordinary shares to Phillips 66 in a conditional placement that in January 2025; • $ 26.6 million equivalent to 74.1 million ordinary shares in a fully underwritten institutional placement in November 2024; and · • $ 30 million of unsecured convertible loan notes to LG Energy Solution, Ltd. ("LG Energy Solution" or "LGES")) in June 2023 (Note 22 - Unsecured convertible loan notes and derivative financial instruments ). The Company is continuing to actively engage with strategic partners, customers , investors, and government agencies, to source additional funding to support the Company's growth and fund the planned expansionary activities. In addition, in April 2024, the Company was selected to receive a US$ 103 million tax credit (the “48C tax credit”) under the Qualifying Advanced Energy Project Allocation Program (the “48C program”), to support production of critical battery materials from its Riverside facility in Chattanooga, Tennessee. No funds have been claimed against the 48C tax credit mainly as the qualifying asset has not been placed in service as of December 31, 2024, and to the date of issuance of the financial statements. These consolidated financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or the amounts or classification of liabilities and appropriate disclosures that may be necessary should the Company be unable to continue as a going concern.
Principles of Consolidation	Principles of Consolidation These consolidated financial statements incorporate the assets and liabilities of all subsidiaries of NOVONIX Limited as of December 31, 2024, and the results of all subsidiaries for the year then ended. Subsidiaries are all those entities over which the Company has control. The Company controls an entity when the Company is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power to direct the activities of the entity. Subsidiaries are fully consolidated from the date on which control is transferred to the Company. They are de-consolidated from the date that control ceases. Intercompany transactions, balances and unrealized gains on transactions between entities in the Company are eliminated. Unrealized losses are also eliminated unless the transaction provides evidence of the impairment of the asset transferred. The accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the Company. Where equity instruments are issued in a business combination, the fair value of the instruments is their published market price as at the date of exchange. Costs arising from a business combination are expensed when incurred. The consideration transferred also includes the fair value of any asset or liability resulting from a contingent consideration arrangement. With limited exceptions, all identifiable assets acquired, and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date. The excess of the consideration transferred, amount of any non-controlling interest in the acquired entity, over the net fair value of the Company's share of the identifiable net assets acquired is recognized as goodwill. If the consideration transferred of the acquisition is less than the Company's share of the net fair value of the identifiable net assets of the subsidiary, the difference is recognized as a gain in the profit and loss in the Consolidated Statement of Profit or Loss and Other Comprehensive Income, but only after a reassessment of the identification and measurement of the net assets acquired. Where settlement of any part of the cash consideration is deferred, the amounts payable in the future are discounted to their present value, as at the date of exchange. The discount rate used is the entity's incremental borrowing rate, being the rate at which a similar borrowing could be obtained from an independent financier under comparable terms and conditions.
Fair Value Measurements	Fair Value Measurements Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. For some assets and liabilities, observable market transactions or market information is available. For other assets and liabilities, observable market transactions or market information might not be available. When a price for an identical asset or liability is not observable, another valuation technique is used. To increase consistency and comparability in fair value measurements, there are three levels of the fair value hierarchy based on the inputs used: • Level 1 – Inputs are unadjusted quoted prices in active markets for identical assets or liabilities, • Level 2 – Inputs are inputs other than quoted prices included within Level 1, which are observable for the asset or liability either directly or indirectly, • Level 3 – Inputs are unobservable inputs for the asset or liability. The Company recognizes transfers between levels of the fair value hierarchy at the end of the reporting period during which the change has occurred.
Income Tax Expense (Benefit)	Income Tax Expense (Benefit) The income tax expense or benefit for the period is the tax payable on that period’s taxable income based on the applicable income tax rate for each jurisdiction, adjusted by the changes in deferred tax assets and liabilities attributable to temporary differences, unused tax losses and the adjustment recognized for prior periods, where applicable. Deferred tax assets and liabilities are recognized for temporary differences at the tax rates expected to be applied when the assets are recovered or liabilities are settled, based on those tax rates that are enacted or substantively enacted, except for: • When the deferred income tax asset or liability arises from the initial recognition of goodwill or an asset or liability in a transaction that is not a business combination and that, at the time of the transaction, affects neither the accounting nor taxable profits; or • When the taxable temporary difference is associated with interests in subsidiaries, associates or joint ventures and the timing of the reversal can be controlled, and it is probable that the temporary difference will not reverse in the foreseeable future. Deferred tax assets are recognized for deductible temporary differences and unused tax losses only if it is probable that future taxable amounts will be available to utilize those temporary differences and losses. The carrying amount of recognized and unrecognized deferred tax assets are reviewed at each reporting date. Deferred tax assets recognized are reduced to the extent that it is no longer probable that future taxable profits will be available for the carrying amount to be recovered. Previously unrecognized deferred tax assets are recognized to the extent that it is probable that there are future taxable profits available to recover the asset. Deferred tax assets and liabilities are offset only where there is a legally enforceable right to offset current tax assets against current tax liabilities and deferred tax assets against deferred tax liabilities; and they relate to the same taxable authority on either the same taxable entity or different taxable entities which intend to settle simultaneously.
Revenue Recognition	Revenue Recognition Revenue from contracts with customers is recognized when control of the goods is transferred, or services are provided to the customer at an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods or services. Sales of Goods Revenue for the hardware is recognized at a point in time when the hardware is delivered and the legal title has passed. Consulting Services The consulting division provides battery cell design, implementation and support services under fixed-price and variable price contracts. Revenue from providing services is recognized in the accounting period in which the services are rendered. For fixed-price contracts, revenue is recognized based on the actual service provided to the end of the reporting period relative to the remaining services under the contract because the customer receives and uses the benefits simultaneously. This is determined based on the actual labor hours spent relative to the total expected labor hours. Where the contracts include multiple performance obligations, the transaction price will be allocated to each performance obligation based on the stand-alone selling prices. Where these are not directly observable, they are estimated based on expected cost-plus margin.
Contract Balances	Contract Balances Trade and Other Receivables A receivable is recognized when the Company’s right to consideration is unconditional, which is generally when goods are delivered or services are performed, as only the passage of time is required before payment is due. Contract Liabilities A contract liability is the obligation to transfer goods or provide services to a customer for which the Company has received consideration (or an amount of consideration is due) from the customer. If a customer pays consideration before the Company transfers goods or services to the customer, a contract liability is recognized when the payment is made, or the payment is due (whichever is earlier). Contract liabilities are recognized as revenue when the Company performs under the contract.
Other Income	Other Income Interest Interest income is recognized as interest accrues using the effective interest method. This is a method of calculating the amortized cost of a financial asset and allocating the interest income over the relevant period using the effective interest rate, which is the rate that discounts estimated future cash receipts through the expected life of the financial asset to the net carrying amount of the financial asset. Grant Revenue Grants from government bodies, including transferable 48C tax credits, are recognized where there is a reasonable assurance that the grant will be received, and the Company will comply with all attached conditions. When a grant relates to an expense item, it is recognized as income on a systematic basis over the periods that the related expenses, for which it is intended to compensate, are expensed. Where a grant relates to an asset, it is recognized as an adjustment to the carrying amount of the related asset.
Operating Segments	Operating Segments Operating segments are presented using the ‘management approach’, where the information presented is on the same basis as the internal reports provided to the Chief Operating Decision Makers ("CODMs"). The CODMs are responsible for the allocation of resources to operating segments and assessing their performance.
Current and Non-Current Classification	Current and Non-Current Classification Assets and liabilities are presented in the balance sheet based on current and non-current classification. An asset is classified as current when: it is either expected to be realized or intended to be sold or consumed in normal operating cycle; it is held primarily for the purpose of trading; it is expected to be realized within 12 months after the reporting period; or the asset is cash or cash equivalent unless restricted from being exchanged or used to settle a liability for at least 12 months after the reporting period. All other assets are classified as non-current. A liability is classified as current when: it is either expected to be settled in normal operating cycle; it is held primarily for the purpose of trading; it is due to be settled within 12 months after the reporting period; or there is no right to defer the settlement of the liability for at least 12 months after the reporting period. All other liabilities are classified as non-current. Deferred tax assets and liabilities are always classified as non-current.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents include cash on hand, deposits held at call with financial institutions, other short-term, highly liquid investments with original maturities of three months or less that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value.
Inventories	Inventories Inventories are measured at the lower of cost and net realizable value. Cost is determined based on the standard cost method, which approximates first-in, first-out. The cost of manufactured products includes direct materials.
Exploration and Evaluation Assets	Exploration and Evaluation Assets Exploration and evaluation expenditure incurred is accumulated in respect of each identifiable area of interest. Such expenditures comprise net direct costs and an appropriate portion of related overhead expenditure but do not include overheads or administration expenditure not having a specific nexus with a particular area of interest. These costs are only carried forward to the extent that they are expected to be recouped through the successful development of the area or where activities in the area have not yet reached a stage which permits reasonable assessment of the existence of economically recoverable reserves and active or significant operations in relation to the area are continuing. A regular review has been undertaken on each area of interest to determine the appropriateness of continuing to carry forward costs in relation to that area of interest. An impairment charge is recognized when the Directors are of the opinion that the carried forward net cost may not be recoverable or the right of tenure in the area lapses. When production commences, the accumulated costs for the relevant area of interest are amortized over the life of the area according to the rate of depletion of the economically recoverable reserves.
Borrowings	Borrowings Borrowings are initially recognized at fair value, net of transaction costs incurred. Borrowings are subsequently measured at amortized cost. Any difference between the proceeds (net of transaction costs) and the redemption amount is recognized in profit or loss over the period of the borrowings using the effective interest method. The fair value of the liability (borrowings) portion of a convertible bond is determined using a market interest rate for an equivalent non-convertible bond. This amount is recorded as a liability on an amortized cost basis until extinguished on conversion or maturity of the bonds. The remainder of the proceeds is allocated to the conversion option. Alternatively, the fair value of the conversion option is determined using Monte Carlo Simulation methodology, with the remainder of the proceeds allocated to the liability (borrowings) portion.
Convertible Loan Notes	Convertible Loan Notes Convertible loan notes are initially measured at fair value less transaction costs. Amortized cost is calculated as the amount at which the loan note is measured at initial recognition less principal repayments and adjusted for any cumulative amortization of the difference between that initial amount and the maturity amount calculated using the effective interest method. The effective interest method is used to allocate interest expense over the relevant period and is equivalent to the rate that discounts estimated future cash payments over the expected life of the financial instrument to the net carrying amount of the financial liability. Non-derivative financial liabilities, other than financial guarantees, are subsequently measured at amortized cost. Gains or losses are recognized in profit or loss through the amortization process and when then financial liability is derecognized. Convertible notes are classified as current liabilities unless, at the end of the reporting period, the Company has a right to defer settlement of the liability for at least 12 months after the reporting period. Where convertible notes can be settled, at the option of the counterparty, by the transfer of the entity’s own equity instruments, such settlement terms do not affect the classification of the liability as current or non-current where the option is classified as an equity instrument. With respect to the Company’s convertible notes, the conversion option is accounted for as a derivative liability and can be exercised by the holder at any time - as disclosed in Note 22. As such, the conversion feature must be considered when assessing whether the Company has a right to defer settlement.
Property, Plant and Equipment	Property, Plant, and Equipment Property, plant, and equipment is stated at historical cost less accumulated depreciation and impairment. Historical cost includes expenditure that is directly attributable to the acquisition of the items. Depreciation is calculated on a straight-line basis to write off the net cost of each item of property, plant and equipment (excluding land) over their expected useful lives as follows: Buildings ​ 25 - 39 years Plant and equipment ​ 3 - 20 years The residual values, useful lives and depreciation methods are reviewed, and adjusted if appropriate, at each reporting date. An item of plant and equipment is derecognized upon disposal or when there is no future economic benefit to the Company. Gains and losses between the carrying amount and the disposal proceeds are taken to profit or loss.
Trade and Other Payables	Trade and Other Payables These amounts represent liabilities for goods and services provided to the Company prior to the end of the financial year and which are unpaid. Due to their short-term nature, they are measured at amortized cost and are not discounted. The amounts are unsecured and are usually paid within 30 days of recognition.
Leases	Leases Lease terms are negotiated on an individual basis and contain a wide range of different terms and conditions. The lease agreements do not impose any covenants other than the security interests in the leased assets that are held by the lessor. Leased assets may not be used as security for borrowing purposes. Assets and liabilities arising from a lease are initially measured on a present value basis. Lease liabilities include the net present value of the following lease payments: • fixed payments (including in-substance fixed payments), less any lease incentives receivable, • variable lease payments that are based on an index or a rate, initially measured using the index or rate as at the commencement date, • amounts expected to be payable by the Company under residual value guarantees, • the exercise price of a purchase option if the Company is reasonably certain to exercise that option, • payments of penalties for terminating the lease, if the lease term reflects the Company exercising that option. Lease payments to be made under reasonably certain extension options are also included in the measurement of the liability. The lease payments are discounted using the interest rate implicit in the lease. If that rate cannot be readily determined, which is generally the case for leases in the Company, the lessee’s incremental borrowing rate is used, being the rate that the individual lessee would have to pay to borrow the funds necessary to obtain an asset of similar value to the right-of-use asset in a similar economic environment with similar terms, security and conditions. To determine the incremental borrowing rate, the Company: • where possible, uses recent third-party financing received by the individual lessee as a starting point, adjusted to reflect changes in financing conditions since third party financing was received, • uses a build-up approach that starts with a risk-free interest rate adjusted for credit risk for leases held by NOVONIX Limited, which does not have recent third-party financing, • makes adjustments specific to the lease, e.g., term, country, currency and security. The Company is exposed to potential future increases in variable lease payments based on an index or rate, which are not included in the lease liability until they take effect. When adjustments to lease payments based on an index or rate take effect, the lease liability is reassessed and adjusted against the right-of-use asset. Lease payments are allocated between principal and finance cost. The finance cost is charged to profit or loss over the lease period so as to produce a constant periodic rate of interest on the remaining balance of the liability for each period. Right-of-use assets are measured at cost comprising the following: • the amount of the initial measurement of lease liability, • any lease payments made at or before the commencement date less any lease incentives received, • any initial direct costs, • restoration costs. Right-of-use assets are generally depreciated over the shorter of the asset's useful life and the lease term on a straight-line basis. If the Company is reasonably certain to exercise a purchase option, the right-of-use asset is depreciated over the underlying asset’s useful life. The Company does not revalue the right-of-use buildings held by the Company. Payments associated with short-term leases of equipment and vehicles and all leases of low-value assets are recognized on a straight-line basis as an expense in profit or loss. Short-term leases are leases with a lease term of 12 months or less. Low-value assets comprise IT equipment and small items of office furniture. Extension options are included in property and equipment leases across the Company. These are used to maximize operational flexibility in terms of managing the assets used in the Company’s operations. The extension options held are exercisable only by the Company and not by the lessor. When the Company revises its estimate of the term of any lease (because, for example, it re-assesses the probability of a lessee extension or termination option being exercised), it adjusts the carrying amount of the lease liability to reflect the payments to make over the revised term, which are discounted using a revised discount rate. The carrying value of lease liabilities is similarly revised when the variable element of future lease payments dependent on a rate or index is revised, except the discount rate remains unchanged. In both cases an equivalent adjustment is made to the carrying value of the right-of-use asset, with the revised carrying amount being amortized over the remaining (revised) lease term. If the carrying amount of the right-of-use asset is adjusted to zero, any further reduction is recognized in profit or loss. When the Company renegotiates the contractual terms of a lease with the lessor, the accounting depends on the nature of the modification: • if the renegotiation results in one or more additional assets being leased for an amount commensurate with the standalone price for the additional rights-of-use obtained, the modification is accounted for as a separate lease in accordance with the above policy, • in all other cases where the renegotiated increases the scope of the lease (whether that is an extension to the lease term, or one or more additional assets being leased), the lease liability is remeasured using the discount rate applicable on the modification date, with the right-of-use asset being adjusted by the same amount, • if the renegotiation results in a decrease in the scope of the lease, both the carrying amount of the lease liability and right-of-use asset are reduced by the same proportion to reflect the partial of full termination of the lease with any difference recognized in profit or loss. The lease liability is then further adjusted to ensure its carrying amount reflects the amount of the renegotiated payments over the renegotiated term, with the modified lease payments discounted at the rate applicable on the modification date. The right-of-use asset is adjusted by the same amount. Specific details about the Company’s leasing policy are provided i n Note 20.
Investments and Other financial Assets	Investments and Other Financial Assets Classification The Company classifies its financial assets in the following measurement categories: • those to be measured subsequently at fair value (either through OCI or through profit or loss), • those to be measured at amortized cost. The classification depends on the entity’s business model for managing the financial assets and the contractual terms of the cash flows. For assets measured at fair value, gains and losses will either be recorded in profit or loss or OCI. For investments in equity instruments that are not held for trading, this will depend on whether the Company has made an irrevocable election at the time of initial recognition to account for the equity investment at fair value through other comprehensive income (FVOCI). Recognition and Derecognition Regular way purchases and sales of financial assets are recognized on trade date, being the date on which the Company commits to purchase or sell the asset. Financial assets are derecognized when the rights to receive cash flows from the financial assets have expired or have been transferred and the Company has transferred substantially all the risks and rewards of ownership. Measurement At initial recognition, the Company measures a financial asset at its fair value plus, in the case of a financial asset not at fair value through profit or loss (FVPL), transaction costs that are directly attributable to the acquisition of the financial asset. Transaction costs of financial assets carried at FVPL are expensed in profit or loss. The Company subsequently measures all equity investments at fair value. Where the Company’s management has elected to present fair value gains and losses on equity investments in OCI, there is no subsequent reclassification or fair value gains and losses to profit or loss following the derecognition of the investment. Dividends from such investments continue to be recognized in the consolidated statement of profit or loss and other comprehensive (loss) income as other income when the Company’s right to receive payment is established. Changes in fair value of financial assets at FVPL are recognized in other gains/(losses) in the Consolidated Statement of Profit or Loss and Other Comprehensive Income as applicable. Impairment losses (and reversal of impairment losses) on equity investments measured at FVOCI are not reported separately from other changes in fair value.
Employee Benefits	Employee Benefits Short-Term Employee Benefits Liabilities for wages and salaries, including non-monetary benefits, annual leave and long service leave expected to be settled within 12 months of the reporting date are measured at the amounts expected to be paid when the liabilities are settled. Short-term incentives are payable on achievement of mutually agreed KPIs each fiscal year with short-term incentives being payable in either cash or by way of the issue of fully paid ordinary shares. The Company has historically paid short- term incentives in cash. Other Long-Term Employee Benefits The liability for long service leaves not expected to be settled within 12 months of the reporting date is measured as the present value of expected future payments to be made in respect of services provided by employees up to the reporting date using the projected unit credit method. Consideration is given to expected future wage and salary levels, experience of employee departures and periods of service. Expected future payments are discounted using market yields at the reporting date on corporate bonds with terms to maturity and currency that match, as closely as possible, the estimated future cash outflows. Share-Based Payments Equity-settled share-based compensation benefits are provided to employees. Equity-settled transactions are awards of shares, options or performance rights over shares, that are provided to employees in exchange for the rendering of services. The cost of equity-settled transactions is measured at fair value on grant date. Fair value is determined using various valuation methods including Black Scholes, Binomial and the Monte Carlo Simulation method that takes into account the exercise price, the term of the performance right, the impact of dilution, the share price at grant date and expected price volatility of the underlying share, the expected dividend yield and the risk-free interest rate for the term of the performance right award. The cost of equity-settled transactions is recognized as an expense with a corresponding increase in equity over the vesting period. The cumulative charge to profit or loss is calculated based on the grant date fair value of the award, the best estimate of the number of awards that are likely to vest and the expired portion of the vesting period. The amount recognized in profit or loss for the period is the cumulative amount calculated at each reporting date less amounts already recognized in previous periods. Market conditions are taken into consideration in determining fair value. Therefore, any awards subject to market conditions are considered to vest irrespective of whether or not that market condition has been met, provided all other conditions are satisfied. If equity-settled awards are modified, as a minimum an expense is recognized as if the modification has not been made. An additional expense is recognized, over the remaining vesting period, for any modification that increases the total fair value of the share-based compensation benefit as at the date of modification. Share-based payment expenses are recognized over the period during which the employee provides the relevant services. This period may commence prior to the grant date. In this situation, the entity estimates the grant date fair value of the equity instruments for the purposes of recognizing the services received during the period between service commencement date and grant date. Once the grant date has been established, the earlier estimate is revised so that the amount recognized for services received is ultimately based on the grant date fair value of the equity instruments. If the non-vesting condition is within the control of the Company or employee, the failure to satisfy the condition is treated as a cancellation. If the condition is not within the control of the Company or employee and is not satisfied during the vesting period, any remaining expense for the award is recognized over the remaining vesting period, unless the award is forfeited. If equity-settled awards are cancelled, it is treated as if it has vested on the date of cancellation, and any remaining expense is recognized immediately. If a new replacement award is substituted for the cancelled award, the cancelled and new award is treated as if they were a modification.
Issued Capital	Issued Capital Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new shares or options are shown in equity as a deduction, net of tax, from the proceeds.
Impairment of Non-Financial Assets	Impairment of Non-Financial Assets At the end of each reporting period, the Company assesses whether there is any indication that an asset may be impaired. The assessment will include the consideration of external and internal sources of information, including dividends received from subsidiaries, associates or joint ventures deemed to be out of pre-acquisition profits. If such an indication exists, an impairment test is carried out on the asset by comparing the recoverable amount of the asset, being the higher of the asset’s fair value less costs of disposal and value in use, to the asset’s carrying amount. Any excess of the assets carrying amount over its recoverable amount is recognized immediately in profit or loss, unless the asset is carried at a revalued amount in accordance with another Standard. Any impairment loss of a revalued asset is treated as a revaluation decrease in accordance with that other Standard. Where it is not possible to estimate the recoverable amount of an individual asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs. Impairment testing is performed annually for goodwill, intangible assets with indefinite lives and intangible assets not yet available for use.
Intangible Assets Other Than Goodwill	Intangible Assets Other than Goodwill Technology Technology is recognized at fair value on the date of acquisition. It has a finite life and is subsequently carried at cost less any accumulated amortization and any impairment losses. Technology is amortized over its useful life of 5 years. Software Software is measured at cost (at acquisition or development costs) and amortized on a straight-line basis over its useful life, generally 3 years. Maintenance cost of software is expensed as incurred. Development costs directly attributable to the design and creation of software that are identifiable and unique, and that may be controlled by the Company, are recognized as an intangible asset providing the following conditions are met: • It is technically feasible for the intangible asset to be completed so that it will be available for use or sale, • Management intends to complete the asset for use or sale, • The Company has the capacity to use or sell the asset, • It is possible to show evidence of how the intangible asset will generate probable future economic benefits, • Adequate technical, financial, and other resources are available to complete the development and to use or sell the intangible asset, • The outlay attributable to the intangible asset during its development can be reliably determined. Directly attributable costs capitalized in the value of the software include the cost of personnel developing the programs. Costs that do not meet the criteria listed above are recognized as an expense as incurred. An example of this is Software as a Service ("SaaS"). The cloud computing is a model for delivering information technology services through web-based tools and applications. In such contracts, the customer generally does not obtain a software license or have a right to take possession of the software. The contract conveys to the customer the right to receive access to the supplier’s application software over the contract term. That right to receive access does not provide the customer with a software asset and, therefore, the access to the software is a service that the customer receives over the contract term.
Goodwill	Goodwill Goodwill acquired on a business combination is initially measured at cost, being the excess of the consideration transferred for the business combination over the Company’s interest in the net fair value of the acquiree’s identifiable assets, liabilities and contingent liabilities. Following initial recognition, goodwill is measured at cost less any accumulated impairment losses. Goodwill is reviewed for impairment, annually, or more frequently, if events or changes in circumstances indicate that the carrying value may be impaired (Note 17 - Intangible Assets ). As at the acquisition date, any goodwill acquired is allocated to each of the cash-generating units that are expected to benefit from the combination’s synergies. Impairment is determined by assessing the recoverable amount of the cash-generating unit to which the goodwill relates. Where the recoverable amount of the cash-generating unit is less than the carrying amount, an impairment loss is recognized. Where goodwill forms part of a cash-generating unit and part of the operation within that unit is disposed, the goodwill associated with the disposed operation is included in the carrying amount of the operation when determining the gain or loss on disposal of the operation. Disposed goodwill in this circumstance is measured on the basis of the relative values of the disposed operation and the portion of the cash-generating unit retained.
Research and Development Costs	Research and Development Costs Research and development costs primarily represent the Company’s investment in research and development activities for the all-dry, zero-waste cathode synthesis project. At present, the Company's research and development activities are conducted through our two core businesses: BTS and NAM; cathode falls under BTS R&D. Research expenditures are recognized as an expense when incurred. Costs incurred on development projects (relating to the design and testing of enhancements or extensions of products from the all-dry, zero-waste cathode synthesis project) are recognized as intangible assets when: • the technical feasibility of completing the intangible asset so that it will be available for use or sale, • the intention to complete the intangible asset and use it or sell it, • the ability to use or sell the intangible asset, • how the intangible asset will generate probable future economic benefits, • the availability of adequate technical, financial, and other resources to complete the development and to use or sell the intangible asset, • the ability to measure reliably the expenditure attributable to the intangible asset during its development. The expenditures capitalized comprise all directly attributable costs, including costs of materials, services, direct labor and an appropriate proportion of overhead. Other development expenditures that do not meet these criteria are recognized as an expense when incurred. Development costs previously recognized as an expense are not recognized as an asset in a subsequent period. Capitalized development costs are recorded as intangible assets and amortized from the point at which the asset is ready for use on a straight-line basis over its useful life.
Borrowing Costs	Borrowing Costs Borrowing costs are recognized in profit or loss in the period in which they are incurred.
Foreign Currency Transactions and Balances	Foreign Currency Transactions and Balances Functional and Presentation Currency The functional currency of each of the Company’s entities is the currency of the primary economic environment in which that entity operates. Effective July 1, 2022, the Company’s reporting currency is the U.S. dollar. The Company changed its reporting currency from Australian dollars to U.S. dollars to enhance the relevance of the Company’s financial information and comparability with its industry peer group. Transactions and Balances Foreign currency transactions are translated into functional currency using the exchange rates prevailing at the date of the transaction. Foreign currency monetary items are translated at the year-end exchange rate. Non-monetary items measured at historical cost continue to be carried at the exchange rate at the date of the transaction. Non-monetary items measured at fair value are reported at the exchange rate at the date when fair values were determined. Exchange differences arising on the translation of monetary items are recognized in profit or loss, except were deferred in equity as a qualifying cash flow or net investment hedge. Exchange differences arising on the translation of non-monetary items are recognized directly in other comprehensive income to the extent that the underlying gain or loss is recognized in other comprehensive income; otherwise, the exchange difference is recognized in profit or loss. Group Companies The financial results and position of foreign operations, whose functional currency is different from the Company’s presentation currency, are translated as follows: • Assets and liabilities are translated at exchange rates prevailing at the end of the reporting period, • Income and expenses are translated at the average exchange rates for the period, • Accumulated losses are translated at the exchange rates prevailing at the date of the transaction. Exchange differences arising on translation of foreign operations with functional currencies other than U.S. dollars are recognized in other comprehensive income and included in the foreign currency translation reserve in the consolidated balance sheet. The cumulative amount of these differences is reclassified into profit or loss in the period in which the operation is disposed of.
Earnings Per Share	Earnings Per Share Basic Earnings Per Share Basic earnings per share is calculated by dividing the profit attributable to the owners of the Company, excluding any costs of servicing equity other than ordinary shares, by the weighted average number of ordinary shares outstanding during the financial year, adjusted for bonus elements in ordinary shares issued during the financial year. Diluted Earnings Per Share Diluted earnings per share adjusts the figures used in the determination of basic earnings per share to take into account the after-income tax effect of interest and other financing costs associated with dilutive potential ordinary shares and the weighted average number of shares assumed to have been issued for no consideration in relation to dilutive potential ordinary shares.
Goods and Services Tax (‘GST’) and Other Similar Taxes	Goods and Services Tax (‘GST’) and Other Similar Taxes Revenues, expenses and assets are recognized net of the amount of associated GST, unless the GST incurred is not recoverable from the tax authority. In this case it is recognized as part of the cost of the acquisition of the asset or as part of the expense. Receivables and payables are stated inclusive of the amount of GST receivable or payable. The net amount of GST recoverable from, or payable to, the tax authority is included in other receivables or other payables in the balance sheet. Cash flows are presented on a gross basis. The GST components of cash flows arising from investing or financing activities which are recoverable from, or payable to the tax authority, are presented as operating cash flows. Commitments and contingencies are disclosed net of the amount of GST recoverable from, or payable to, the tax authority.
Assets Held for Sale	Assets Held for Sale Non ‑ current assets, or disposal groups comprising assets and liabilities, are classified as held-for-sale if it is highly probable that they will be recovered primarily through sale rather than through continuing use. Such assets, or disposal groups, are generally measured at the lower of their carrying amount and fair value less costs to sell. Any impairment loss on a disposal group is allocated first to goodwill, and then to the remaining assets and liabilities on a pro rata basis, except that no loss is allocated to inventories, financial assets, deferred tax assets, employee benefit assets, investment property or biological assets, which continue to be measured in accordance with the Company’s other accounting policies. Impairment losses on initial classification as held ‑ for ‑ sale or held ‑ for-distribution and subsequent gains and losses on remeasurement are recognized in profit or loss. Once classified as held ‑ for ‑ sale, intangible assets and property, plant and equipment are no longer amortized or depreciated, and any equity ‑ accounted investee is no longer equity accounted.
New and Amended Standards and Interpretations	New and Amended Standards and Interpretations The following amendments are effective for the period beginning January 1,2024 and are applicable to the consolidated financial statements of the Company: • Classification of Liabilities as Current or Non-Current (Amendments to IAS 1); and • Segment reporting (Amendments to IFRS 8). A summary of the changes to the accounting standards and on how the amendments affected the consolidated financial statements is presented below. Classification of Liabilities as Current or Non-Current (Amendments to IAS 1) The IASB issued amendments to IAS 1 on the Classification of Liabilities as Current or Non-current in January 2020. The amendments clarify the following: • An entity's right to defer settlement of a liability for at least twelve months after the reporting period must have substance and must exist at the end of the reporting period. • If an entity’s right to defer settlement of a liability is subject to covenants, such covenants affect whether that right exists at the end of the reporting period only if the entity is required to comply with the covenant on or before the end of the reporting period. • The classification of a liability as current or non-current is unaffected by the likelihood that the entity will exercise its right to defer settlement. • In case of a liability that can be settled, at the option of the counterparty, by the transfer of the entity’s own equity instruments, such settlement terms do not affect the classification of the liability as current or non-current only if the option is classified as an equity instrument. These amendments have no effect on the measurement of any items in the consolidated financial statements of the Company. However, the classification of the convertible loan notes has changed from non-current to current as result of the application of the amendments for the current financial year as well as the comparative period, Note 22- Unsecured Convertible Loan notes and Derivative Financial Instruments for further details. In July 2024, the IFRS Interpretations Committee (the Committee) published an agenda decision in response to a number of questions asked about how IFRS 8.23 should be applied in practice. IFRS 8.23 requires entities to disclose specific income and expenses included in the segment profit amount provided to the Chief Operating Decision Maker (CODM), irrespective of whether these items are separately presented to the CODM. ‘Material items of income and expense’ to be disclosed does not only mean those items that are qualitatively material because they are unusual/and or non-recurring in nature; material items mean any items that are material, regardless of the reason for the assessment. Determining the appropriate level of detail in preparing disclosures relating to reportable segments requires judgment, considering the entity's specific circumstances, the core principles outlined in IAS 1 Presentation of Financial Statements. The adoption of the interpretation did not have a material impact on the consolidated financial statements. Refer to Note 25 - Operating Segments for further details. The Company noted that no other new IFRS Accounting Standards amendments or interpretations that became effective in 2024 had a material impact on the Company’s consolidated financial statements.
Standards and Interpretations not yet Effective	Standards and Interpretations not yet Effective The Company has decided not to early adopt new standards, amendments to standards, and interpretations which have been issued by the IASB that are effective in future accounting periods, which include: • Lack of Exchangeability (Amendment to IAS 21 The Effects of Changes in Foreign Exchange Rates), effective for the annual period beginning January 1, 2025; • Amendments to the Classification and Measurement of Financial Instruments (Amendments to IFRS 9 Financial Instruments and IFRS 7), effective for the annual period beginning January 1, 2026; • Contracts Referencing Nature-dependent Electricity (Amendments to IFRS 9 and IFRS 7), effective for the annual period beginning January 1, 2026; • IFRS 18 Presentation and Disclosure in Financial Statements, effective for the annual period beginning January 1, 2027; and • IFRS 19 Subsidiaries without Public Accountability: Disclosures, effective for the annual period beginning January 1, 2027. The Company is currently assessing the effect of these new accounting standards and amendments.
Critical Accounting Estimates and Judgements	Critical Accounting Estimates and Judgments The preparation of the financial statements requires the use of certain critical accounting estimates. It also requires management to exercise its judgment in the process of applying the Company’s accounting policies. The areas involving a higher degree of judgment or complexity, or areas where assumptions and estimates are significant to the financial statements, are disclosed below. Valuation of Unsecured Convertible Notes and Embedded Derivatives The fair value of the conversion feature is determined using a Monte Carlo Simulation, taking into account the terms and conditions upon which the convertible loan notes were issued. The key assumptions include: • The probability of the timing of when the parties will enter into a purchase order for material, which will lead to the mandatory conversion of all loan notes into ordinary shares, • The risk-free rate, • The volatility of the NOVONIX share price. Impairment of Goodwill and Identifiable Intangible Assets The Company determines whether goodwill is impaired on an annual basis. This assessment requires an estimation of the recoverable amount of the cash-generating units to which the goodwill is allocated. Share Based Payment Transactions The Company has issued options where individual tranches have variable vesting dates due to the performance conditions being linked to the achievement of incremental production targets. At each reporting period, an estimate is made of the expected vesting dates for each of the tranches based on the expectation of when performance conditions will be met, and where necessary, an adjustment to the share-based payment expense is recognized. Fair Value of Financial Instruments Carried at Fair Value through Profit Loss The fair value of financial instruments that are not traded in an active market is determined using valuation techniques. The Company uses its judgment to select a variety of methods and make assumptions that are mainly based on market conditions existing at the end of each reporting period. For details of the key assumptions used and the impact of changes to these assumptions see Note 15 - Financial Assets at Fair Value Through Profit or Loss . Government Grants In April 2024, the Company was selected to receive a $ 103 million tax credit (the “48C tax credit”) under the Qualifying Advanced Energy Project Allocation Program (the “48C program”), to support production of critical battery materials from its Riverside facility in Chattanooga, Tennessee. The Company has applied judgment to determine whether there is reasonable assurance that the conditions associated with the 48C tax credits will be completed and the grant will be received. The Company has determined that at the reporting date there is no reasonable assurance that the conditions associated with the 48C tax credit will be completed. As such, the grant is not recognized in the financial statements. Other areas of critical accounting estimates and judgments include: • unused tax losses for which no deferred tax asset has been recognized (See Note 6 – Income Tax (Benefit) Expense ). • the impairment testing of goodwill (See Note 17 – Intangible Assets ).

Summary of Material Accountin_3

Summary of Material Accounting Policy Information (Tables)	12 Months Ended
	Dec. 31, 2024
Disclosure of initial application of standards or interpretations [abstract]
Summary of Property, Plant and Equipment Over Their Expected Useful Lives	Depreciation is calculated on a straight-line basis to write off the net cost of each item of property, plant and equipment (excluding land) over their expected useful lives as follows: Buildings ​ 25 - 39 years Plant and equipment ​ 3 - 20 years

Parent Entity Financial Infor_2

Parent Entity Financial Information (Tables)	12 Months Ended
	Dec. 31, 2024
Statement of financial position [abstract]
Summary of Information Extracted From Books and Records of Parent	The following information has been extracted from the books and records of the parent and has been prepared in accordance with International Financial Reporting Standards. As of December 31, As of December 31, (in U.S. Dollars) 2024 2023 Balance sheet ASSETS Current assets Cash and cash equivalents $ 39,222,311 $ 72,819,657 Trade and other receivables 92,533 62,513 Prepayments 64,749 12,992 39,379,593 72,895,162 Assets classified as held for sale 2,197,607 2,372,886 Total current assets 41,577,200 75,268,048 Non-current assets Amounts due from related parties 132,012,140 121,976,670 Exploration and evaluation assets — — Investment securities at fair value through profit or loss — 16,429,244 Other assets 5,234 5,741 Total non-current assets 132,017,374 138,411,655 Total assets $ 173,594,574 $ 213,679,703 LIABILITIES Payables $ 275,118 $ 322,940 Borrowings 30,360,575 28,554,210 Derivative financial instruments 5,368,624 866,278 Total current liabilities 36,004,317 29,743,428 Total liabilities 36,004,317 29,743,428 Net assets 137,590,257 183,936,275 EQUITY Contributed equity 367,537,075 338,425,286 Reserves 2,844,337 25,017,175 Accumulated losses ( 232,791,155 ) ( 179,506,186 ) Total equity $ 137,590,257 $ 183,936,275 At December 31, At December 31, 2024 2023 Statement of Profit or Loss and Other Comprehensive Income Total loss and total comprehensive loss $ ( 53,284,969 ) $ ( 47,135,365 )

Revenue (Tables)

Revenue (Tables)	12 Months Ended
	Dec. 31, 2024
Disclosure of disaggregation of revenue from contracts with customers [abstract]
Summary of Revenue From Transfer of Goods And Services	The Company derives revenue from the transfer of goods and provision of services in the following major product lines and segments: Year Ended December 31, 2024 (in U.S.$) Graphite Battery Battery Total Hardware sales $ — $ 1,805,745 $ — $ 1,805,745 Consulting sales — 4,048,679 — 4,048,679 Revenue from external customers $ — $ 5,854,424 $ — $ 5,854,424 Timing of revenue recognition At a point in time $ — 1,805,745 $ — $ 1,805,745 Over time — 4,048,679 — 4,048,679 $ — $ 5,854,424 $ — $ 5,854,424 Year Ended December 31, 2023 (in U.S.$) Graphite Battery Battery Total Hardware sales $ — $ 2,999,533 $ — $ 2,999,533 Consulting sales — 5,054,995 — 5,054,995 Revenue from external customers $ — $ 8,054,528 $ — $ 8,054,528 Timing of revenue recognition At a point in time $ — 2,999,533 $ — $ 2,999,533 Over time — 5,054,995 — 5,054,995 $ — $ 8,054,528 $ — $ 8,054,528 Six Months Ended December 31, 2022 (in U.S.$) Graphite Battery Battery Total Hardware sales $ — $ 403,860 $ — $ 403,860 Consulting sales — 2,298,596 — 2,298,596 Revenue from external customers $ — $ 2,702,456 $ — $ 2,702,456 Timing of revenue recognition At a point in time $ — $ 403,680 $ — $ 403,680 Over time — 2,298,596 — 2,298,596 $ — $ 2,702,276 $ — $ 2,702,276 Year Ended June 30, 2022 (in U.S.$) Graphite Battery Battery Total Hardware sales $ — $ 2,549,308 $ — $ 2,549,308 Consulting sales — 3,551,847 — 3,551,847 Revenue from external customers $ — $ 6,101,155 $ — $ 6,101,155 Timing of revenue recognition At a point in time $ — $ 2,549,308 $ — $ 2,549,308 Over time — 3,551,847 — 3,551,847 $ — $ 6,101,155 $ — $ 6,101,155
Summary of Assets and Liabilities Related to Contracts with Customers Recognised	The Company has recognized the following assets and liabilities related to contracts with customers: At December 31, At December 31, (in U.S. Dollars) 2024 2023 Contract liabilities – Hardware sales $ — $ 56,653 Contract liabilities – Services sales 126,056 228,568 Total other current liabilities $ 126,056 $ 285,221
Summary of Revenue Recognised in Current Reporting Period Relates to Brought-Forward Contract Liabilities	The following table shows how much of the revenue recognized in the current reporting period relates to brought-forward contract liabilities. Year Ended Six Months Ended December 31, Year Ended June 30, (in U.S. Dollars) 2024 2023 2022 2022 Revenue recognized that was included Hardware sales $ 285,221 $ 71,985 $ 2,715 $ 232,800

Other Income, Net (Tables)

Other Income, Net (Tables)	12 Months Ended
	Dec. 31, 2024
Analysis of income and expense [abstract]
Summary of Other Income, Net	Year Ended Six Months Ended Year Ended June 30, (in U.S. dollars) 2024 2023 2022 2022 Interest income $ 1,370,929 $ 1,611,128 $ 19,416 $ 8,314 Manufacturing and Energy Supply Chains Grant 470,783 — — — Other grant funding 1,827,882 1,161,992 260,536 982,767 Fair value gain on borrowings (refer Note 21) — — — 219,557 Research and development tax incentive 593,521 689,089 — — Other 10,064 147,691 35,154 385,482 Total $ 4,273,179 $ 3,609,900 $ 315,106 $ 1,596,120

Loss before Income Taxes (Table

Loss before Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2024
Loss For Year [Abstract]
Loss Before Income Taxes	Loss before income taxes includes the following specific expenses: Year Ended Six Months Ended Year Ended (in U.S. dollars) 2024 2023 2022 2022 Share-based payments expense^ Performance rights granted $ 5,591,417 $ 5,094,244 $ 4,857,249 $ 11,307,550 Share rights granted 444,613 399,982 444,480 2,260,399 Options granted ( 512,470 ) 127,734 52,700 962,800 Total share-based compensation expense $ 5,523,560 $ 5,621,960 $ 5,354,429 $ 14,530,749 ^ Refer to note 28 for further information regarding share-based payments. Borrowing costs Interest accrued on loan notes $ 1,776,230 $ 980,852 $ — $ — Unwinding of fair value gain 25,510 18,553 25,945 43,979 Interest accrued on borrowings 1,765,258 1,864,697 917,476 1,468,569 Total borrowing costs $ 3,566,998 $ 2,864,102 $ 943,421 $ 1,512,548
Schedule of Administrative and Other Expenses	(in U.S. dollars) Year Ended December 31, Six Months Ended December 31, Year Ended June 30, Administrative and other expenses 2024 2023 2022 2022 Insurance $ 4,125,899 $ 6,750,308 $ 4,019,027 $ 3,842,129 Legal fees 2,735,055 1,730,766 895,138 1,426,081 Occupancy expenses 2,470,502 418,206 628,816 1,729,282 Consulting fees 4,298,968 3,672,513 751,047 1,080,601 Software implementation and systems-related expenses 1,214,833 1,758,962 1,034,420 — Other 5,074,035 4,533,142 4,153,199 4,513,616 Total administrative and other expenses $ 19,919,292 $ 18,863,896 $ 11,481,647 $ 12,591,709

Income Tax (Benefit) Expense (T

Income Tax (Benefit) Expense (Tables)	12 Months Ended
	Dec. 31, 2024
Major components of tax expense (income) [abstract]
Schedule of Components of Income Tax Expense (Benefit) and Deferred Tax Assets and Liabilities	This note provides an analysis of the Company’s income tax expense (benefit), the amounts are recognized directly in equity and how the tax expense (benefit) is affected by non-assessable and non-deductible items. It also explains significant estimates made in relation to the Company’s tax position. Year Ended Six Months Ended Year Ended June 30, (in U.S. Dollars) 2024 2023 2022 2022 (a) Numerical reconciliation of income tax expense to prima facie tax payable Loss before income tax expense $ ( 74,724,454 ) $ ( 46,448,210 ) $ ( 27,864,014 ) $ ( 51,860,307 ) Tax at the Australian tax rate of 30 % (2023: 30 %) ( 22,417,336 ) ( 13,934,463 ) ( 8,359,204 ) ( 12,965,077 ) Tax effect of amounts which are not tax deductible (taxable) in calculating taxable income: Share-based payments 1,268,814 1,262,386 1,087,931 3,153,550 State tax expense 19,285 — — — Government grants 49,333 507,207 104,079 49,458 Unrealized foreign exchange gain — — ( 7,459 ) 38,172 (Loss)/Gain on fair value of derivative instruments 2,760,350 6,582 — — Borrowing costs — — 7,524 13,107 Other non-deductible amounts 60,834 2,793 68,801 727,362 Other deferred basis adjustments ( 2,169,023 ) — — 3,099 Difference in overseas tax rate 3,367,164 2,232,607 670,144 ( 560,684 ) Adjustments for current tax of prior periods ( 158,880 ) ( 102,522 ) ( 292,141 ) — Adjustment to deferred tax assets and liabilities for tax losses and temporary differences not recognized 17,317,146 9,825,461 6,720,325 9,541,013 Income tax (benefit) expense $ 97,687 $ ( 199,949 ) $ — $ — (b) Tax losses Unused tax losses for which no deferred tax asset has been recognized $ 150,819,578 $ 115,482,188 $ 82,326,319 $ 85,249,412 Potential tax benefit $ 45,245,873 $ 34,644,656 $ 24,697,896 $ 21,312,383 (c) Tax expense (income) recognized directly in equity Aggregate current and deferred tax arising in the reporting period and not recognized in net profit or loss or other comprehensive income but directly debited or credited to equity: Deferred tax: Share issue costs $ — $ — $ — $ — Year Ended Six Months Ended Year Ended June 30, (in U.S. dollars) 2024 2023 2022 2022 (d) Deferred tax assets The balance comprises temporary differences attributable to: Tax losses $ 37,950,397 $ 34,644,656 $ 24,697,896 $ 21,312,353 Exploration and evaluation assets 192,271 365,919 522,068 545,211 Business capital costs 789,677 1,566,275 2,143,430 1,733,648 Other non-current assets 14,237,476 8,116,735 4,759,740 2,055,471 Right of use asset 141,193 92,858 79,151 58,650 Unrealized exchange loss on borrowings — 259,804 433,514 213,791 Accrued expenses 66,059 98,303 307,811 468,644 Deferred revenue 648,024 — — — Other 36,410 21,438 19,686 330,510 Total deferred tax assets 54,061,507 45,165,988 32,963,296 26,718,278 Set-off of deferred tax liabilities pursuant to set-off provisions ( 3,719,657 ) ( 4,970,299 ) ( 2,913,574 ) ( 1,495,735 ) Deferred tax assets not recognized ( 50,225,561 ) ( 39,994,325 ) ( 30,049,722 ) ( 25,222,543 ) Net deferred tax assets $ 116,289 $ 201,364 $ — $ — (e) Deferred tax liabilities The balance comprises temporary differences attributable to: Other non-current assets $ ( 3,059,287 ) $ ( 4,162,691 ) $ ( 2,031,711 ) $ ( 351,147 ) Prepayments ( 161,500 ) ( 224,008 ) ( 215,967 ) ( 1,144,588 ) Foreign currency (loss)/gain ( 498,870 ) ( 583,600 ) ( 665,896 ) — Total deferred tax liabilities ( 3,719,657 ) ( 4,970,299 ) ( 2,913,574 ) ( 1,495,735 ) Set-off of deferred tax liabilities pursuant to set-off provisions 3,719,657 4,970,299 2,913,574 1,495,735 Net deferred tax liabilities $ — $ — $ — $ —

Key Management Personnel Comp_2

Key Management Personnel Compensation (Tables)	12 Months Ended
	Dec. 31, 2024
Key Management Personnel Compensation [Abstract]
Summary of Remuneration Paid to KMP of Company	The totals of remuneration paid to key management personnel (KMP) of the Company are as follows: Year Ended December 31, Six Months Ended December 31, Year Ended June 30, (in U.S. dollars) 2024 2023 2022 2022 Short-term employee benefits $ 3,229,618 $ 2,514,689 $ 1,457,899 $ 3,202,116 Post-employment benefits 56,853 45,092 20,997 144,594 Termination benefits — — — — Share-based compensation 3,484,966 2,228,316 4,006,327 12,118,927 Total KMP compensation $ 6,771,437 $ 4,788,097 $ 5,485,223 $ 15,465,637

Auditor_s Remuneration (Tables)

Auditor’s Remuneration (Tables)	12 Months Ended
	Dec. 31, 2024
Auditor's remuneration [abstract]
Summary of Detailed Information About Auditor's Remuneration	The following fees were paid or payable for services provided by PricewaterhouseCoopers Australia (PwC) as the auditor of the Company: Year End December 31, Six Months Ended December 31, Year Ended June 30, (in U.S. dollars) 2024 2023 2022 2022 Audit fees $ 423,235 $ 412,793 $ 471,568 $ 266,000 Audit-related fees 10,391 — — — Other fees in relation to prior year's audit 42,222 8,382 — — Other assurance services 13,811 13,291 — — All other fees — — — 276,498 Total $ 489,659 $ 434,466 $ 471,568 $ 542,498 1 Audit-related fees related to services performed in respect of the US IPO and US filing processes during the six months ended December 31, 2022, and year ended June 30, 2022.

Earnings per Share (Tables)

Earnings per Share (Tables)	12 Months Ended
	Dec. 31, 2024
Earnings per share [abstract]
Schedule of Earnings per Share	Years Ended December 31, Six Months Ended December 31, Years Ended June 30, (in U.S. dollars) 2024 2023 2022 2022 Basic net loss per share Total basic net loss per share attributable to the ordinary equity holders of the Company $ ( 0.15 ) $ ( 0.09 ) $ ( 0.06 ) $ ( 0.11 ) Diluted net loss per share Total diluted net loss per share attributable to the ordinary equity holders of the Company $ ( 0.15 ) $ ( 0.09 ) $ ( 0.06 ) $ ( 0.11 )
Schedule of Reconciliations of Net Loss Used in Calculating Net Loss Per Share	Reconciliations of net loss used in calculating net loss per share Years Ended December 31, Six Months Ended December 31, Years Ended June 30, (in U.S. dollars) 2024 2023 2022 2022 Basic net loss per share Net loss attributable to the ordinary equity holders of the Company used in calculating basic net loss per share $ ( 74,822,141 ) $ ( 46,248,261 ) $ ( 27,864,014 ) $ ( 51,860,307 ) Diluted net loss per share Net loss attributable to the ordinary equity holders of the Company used in calculating diluted net loss per share $ ( 74,822,141 ) $ ( 46,248,261 ) $ ( 27,864,014 ) $ ( 51,860,307 )
Schedule of Weighted Average Number of Shares Used as the Denominator	Weighted average number of shares used as the denominator Year Ended December 31, Six Months Ended December 31, Year Ended June 30, 2024 2023 2022 2022 Weighted average number of ordinary shares used as the denominator in calculating basic and diluted net loss per share 496,862,010 487,474,460 486,616,365 464,437,628

Trade and Other Receivable (Tab

Trade and Other Receivable (Tables)	12 Months Ended
	Dec. 31, 2024
Trade and other current receivables [abstract]
Summary of Trade and Other Receivables	December 31, December 31, (in U.S. dollars) 2024 2023 Trade debtors $ 1,627,393 $ 3,034,897 MESC grant funds receivable 6,323,492 — Loss allowance ( 252,429 ) — Other receivables 459,717 529,436 Total trade and other receivables $ 8,158,173 $ 3,564,333

Prepayments (Tables)

Prepayments (Tables)	12 Months Ended
	Dec. 31, 2024
Current prepayments and current accrued income including current contract assets [abstract]
Summary of Prepayments	December 31, December 31, (in U.S. dollars) 2024 2023 Prepayments of inventory components $ 393,788 $ 753,973 Prepaid general and administrative expenses 1,307,000 1,105,824 Total $ 1,700,788 $ 1,859,797

Escrow Reserves (Tables)

Escrow Reserves (Tables)	12 Months Ended
	Dec. 31, 2024
Escrow Reserves [Abstract]
Summary of Escrow Reserves	December 31, December 31, 2024 2023 (in U.S. dollars) Escrow reserves $ 1,452,187 $ 794,500

Inventory (Tables)

Inventory (Tables)	12 Months Ended
	Dec. 31, 2024
Classes of current inventories [abstract]
Summary of Inventory	December 31, December 31, (in U.S. dollars) 2024 2023 Raw materials $ 10,083 $ 507,326 Components and assemblies 1,240,568 1,403,873 Finished goods – at cost 133,253 89,609 Total Inventory $ 1,383,904 $ 2,000,808

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	12 Months Ended
	Dec. 31, 2024
Disclosure of detailed information about property, plant and equipment [abstract]
Summary of Property, Plant and Equipment	(in U.S. dollars) Land Buildings Leasehold Machinery and Construction Total At January 1, 2023 Cost $ 2,314,473 $ 47,602,298 $ 1,148,447 $ 24,816,965 $ 56,715,250 $ 132,597,433 Accumulated depreciation — ( 2,763,232 ) ( 569,337 ) ( 3,948,116 ) — ( 7,280,685 ) Net book amount $ 2,314,473 $ 44,839,066 $ 579,110 $ 20,868,849 $ 56,715,250 $ 125,316,748 Opening net book amount at January 1, 2023 $ 2,314,473 $ 44,839,066 $ 579,110 $ 20,868,849 $ 56,715,250 $ 125,316,748 Additions — 113,215 193,251 877,938 17,341,364 18,525,768 Disposals — — — ( 193,160 ) — ( 193,160 ) Transfers — — 88,882 1,939,982 ( 2,028,864 ) — Depreciation charge — ( 1,304,113 ) ( 436,474 ) ( 2,385,633 ) — ( 4,126,220 ) Exchange differences 16,353 138,061 — 96,025 19,872 270,311 Closing net book amount at December 31, 2023 $ 2,330,826 $ 43,786,229 $ 424,769 $ 21,204,001 $ 72,047,622 $ 139,793,447 Additions — — — — 33,290,758 33,290,758 Manufacturing and Energy Supply Chains Grant ( 18,677,454 ) ( 18,677,454 ) Disposals — — — ( 55,033 ) ( 151,880 ) ( 206,913 ) Transfers — — — 530,013 ( 530,013 ) — Depreciation charge — ( 1,284,120 ) ( 196,815 ) ( 2,454,098 ) — ( 3,935,033 ) Exchange differences ( 58,529 ) ( 487,960 ) — ( 391,524 ) ( 16,448 ) ( 954,461 ) Closing net book amount at December 31, 2024 $ 2,272,297 $ 42,014,149 $ 227,954 $ 18,833,359 $ 85,962,585 $ 149,310,343 At December 31, 2024 Cost $ 2,272,297 $ 47,322,495 $ 1,430,580 $ 27,370,268 $ 85,962,585 164,358,225 Accumulated depreciation — ( 5,308,346 ) ( 1,202,626 ) ( 8,536,910 ) — ( 15,047,882 ) Net book amount $ 2,272,297 $ 42,014,149 $ 227,954 $ 18,833,358 $ 85,962,585 $ 149,310,343

Financial Assets at Fair Valu_2

Financial Assets at Fair Value Through Profit or Loss (Tables)	12 Months Ended
	Dec. 31, 2024
Financial assets at fair value through profit or loss [abstract]
Summary of Financial Assets Measured at FVPL	Financial assets measured at FVPL include the following: December 31, December 31, (in U.S. dollars) 2024 2023 US unlisted equity securities $ — $ 16,666,665
Summary of Changes in Level 3 Instruments	The following table presents the changes in level 3 instruments during the year ended December 31, 2024 (in U.S. dollars): December 31, December 31, 2024 2023 Opening balance $ 16,666,665 $ 16,490,271 Changes during the period: Loss on equity investment securities at fair value through profit or loss ( 15,308,187 ) — Exchange difference ( 1,358,478 ) 176,394 Balance at December 31, 2024 $ — $ 16,666,665

Exploration and Evaluation As_2

Exploration and Evaluation Assets (Tables)	12 Months Ended
	Dec. 31, 2024
Disclosure Of Exploration And Evaluation Assets [Abstract]
Schedule of Exploration and Evaluation Assets	December 31, December 31, (in U.S. dollars) 2024 2023 Exploration and evaluation assets – at cost $ — $ — The capitalized exploration and evaluation assets carried forward above have been determined as follows: Balance at the beginning of the period $ — $ 2,212,013 Expenditure incurred during the period — 16,691 Exchange differences — ( 8,752 ) Assets classified as held for sale — ( 2,219,952 ) Balance at the end of the period $ — $ — December 31, December 31, (in U.S. dollars) 2024 2023 Assets classified as held for sale $ 2,044,673 $ 2,219,952 Balance at the beginning of the period $ 2,219,952 $ — Expenditure incurred during the period 36,604 — Exchange differences ( 211,883 ) — Assets classified as held for sale — 2,219,952 Balance at the end of the period $ 2,044,673 $ 2,219,952

Intangible Assets (Tables)

Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2024
Disclosure of detailed information about intangible assets [abstract]
Schedule of Intangible Assets	December 31, December 31, (in U.S. dollars) 2024 2023 Goodwill $ 11,975,024 $ 11,975,024 Technology — 15,285 Total $ 11,975,024 $ 11,990,309 (in U.S. dollars) Goodwill Technology Software Total Balance at December 31, 2022 $ 11,975,024 $ 198,686 $ — $ 12,173,710 Additions — — — — Amortization — ( 183,401 ) — ( 183,401 ) Balance at December 31, 2023 $ 11,975,024 $ 15,285 $ - $ 11,990,309 Additions — — — — Amortization — ( 15,285 ) — ( 15,285 ) Balance at December 31, 2024 $ 11,975,024 $ — $ — $ 11,975,024

Trade and Other Payables (Table

Trade and Other Payables (Tables)	12 Months Ended
	Dec. 31, 2024
Trade and other payables [abstract]
Summary of Unsecured Liabilities	December 31, December 31, (in U.S. dollars) 2024 2023 Unsecured liabilities: Trade payables $ 998,258 $ 1,342,369 Sundry payables and accrued expenses 7,171,820 4,102,800 Employee entitlements 354,063 314,892 Total $ 8,524,141 $ 5,760,061

Contract Liabilities (Tables)

Contract Liabilities (Tables)	12 Months Ended
	Dec. 31, 2024
Contract liabilities [abstract]
Summary of Contract Liabilities	December 31, December 31, (in U.S. dollars) 2024 2023 Current - contract liabilities $ 126,056 $ 285,221 Non-current - other liabilities 3,000,000 3,000,000 Total $ 3,126,056 $ 3,285,221

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2024
Presentation of leases for lessee [abstract]
Summary of Leases Recognized in Balance Sheet	December 31, December 31, (in U.S. dollars) 2024 2023 Right-of-use assets - Buildings $ 6,356,771 $ 4,484,521 Lease liabilities Current $ 522,297 $ 345,933 Non-current 6,488,119 4,479,627 Total $ 7,010,416 $ 4,825,560
Summary of Lease Amounts Recognized in Profit or Loss and Other Comprehensive Income	Year Ended Six Months Ended December 31, Year Ended June 30, (in U.S. dollars) 2024 2023 2022 2022 Depreciation of right-of-use assets - Buildings $ 618,651 $ 430,514 $ 215,257 $ 430,514 Interest expense $ 276,728 $ 212,354 $ 111,593 $ 233,229

Borrowings (Tables)

Borrowings (Tables)	12 Months Ended
	Dec. 31, 2024
Disclosure of detailed information about borrowings [abstract]
Summary of Borrowings	December 31, 2024 Reclassified December 31, 2023 (in U.S. dollars) Current Non-Current Total Current Non-Current Total Secured Bank loans (i) $ 1,033,578 $ 31,650,244 $ 32,683,822 $ 1,167,301 $ 33,044,170 $ 34,211,471 Total secured borrowings $ 1,033,578 $ 31,650,244 $ 32,683,822 $ 1,167,301 $ 33,044,170 $ 34,211,471 Unsecured Convertible notes $ 30,360,575 $ — $ 30,360,575 $ 28,554,210 $ — $ 28,554,210 Other loans (ii) 274,657 1,125,027 1,399,684 174,388 1,622,121 1,796,509 Total unsecured borrowings 30,635,232 1,125,027 31,760,259 28,728,598 1,622,121 30,350,719 Total borrowings $ 31,668,810 $ 32,775,271 $ 64,444,081 $ 29,895,899 $ 34,666,291 $ 64,562,190 Secured Liabilities and Assets Pledged as Security On December 1, 2017, the Company purchased freehold land and buildings at 177 Bluewater Road, Bedford Canada for CAD$ 1,225,195 and from where the consulting services business now operates. The Company entered into a loan facility of CAD $ 2,680,000 to purchase the land and buildings secured by a first mortgage over the property. At December 31, 2024, the facility had been fully drawn down. The total liability at December 31, 2024, is $ 1,601,796 (CAD $ 2,304,712 ). The facility is repayable in monthly installments ending September 15, 2044. The carrying amount of this asset at December 31, 2024 and December 31, 2023 was $ 2,145,772 and $ 2,842,406 , respectively. On May 28, 2021, the Company purchased commercial land and buildings in Nova Scotia, Canada for CAD$ 3,550,000 from which the hardware and cathode businesses operates. The Company entered into a loan facility to purchase the land and buildings. The total available under the facility is CAD $ 4,985,000 and it has been drawn down to CAD$ 4,923,000 as at December 31, 2023. The total liability at December 31, 2024 is $ 3,177,058 (CAD $ 4,571,428 ). The full facility is repayable in monthly installments, commencing December 2022 and ending in January 2048 . The Company’s freehold land and buildings at 110 Simmonds Drive, Dartmouth, Canada are pledged as collateral against the bank loan. The carrying amount of this asset at December 31, 2024, and December 31, 2023 w as $ 3,284,556 and $ 3,329,187 , respectively. On January 24, 2022, the Company entered into a loan facility to purchase equipment. The total amount available under the facility is CAD $ 500,00 and has been fully drawn down at December 31, 2024. The total liability at December 31, 2024 was $ 213,785 (CAD $ 307,600 ). The facility is repayable in monthly installments, commencing in December 2023 and ending in January 2034 . Equipment being purchased with the loan funds are pledged as collateral against the loan. On July 28, 2021, the Company purchased commercial land and buildings in Chattanooga, USA for $ 42,600,000 to expand the NAM business. The Company entered into a loan facility with PNC Real Estate for $ 30,100,000 to purchase the land and buildings. The loan has been fully drawn down at December 31, 2024. The total liability at December 31, 2024, is $ 27,691,183 . The facility is repayable in monthly installments, which commenced in September 2021 and ending in August 2031 . The land and buildings at 1029 West 19th Street, Chattanooga, USA have been pledged as security for the loan, with a carrying amount of $ 38,174,386 and $ 39,202,599 at December 31, 2023 and December 31, 2022, respectively. Lastly, the Company has pledged additional collateral with the Lender for capital expenditures, insurance, tax, and production, Note 12. Loan Covenants This loan imposes certain covenants to ensure that the following financial ratios are met: • net assets of $ 30.1 million to be maintained (exclusive of the land and buildings secured by this loan and minimum liquidity of $ 3.1 million) • a debt service coverage ratio of 1.2 to 1 is to be maintained. Compliance with Loan Covenants The Company has complied with the financial covenants of its borrowing facilities during the years ended December 31, 2024 and 2023.

Unsecured Convertible Loan No_2

Unsecured Convertible Loan Notes and Derivative Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2024
Disclosure of detailed information about financial instruments [abstract]
Summary of Effects of Adoption of IAS in the Balance Sheet	. The effects of the adoption of IAS 1 in the balance sheet as of December 31, 2023, as previously reported, are detailed in the table below: (in U.S. dollars) As presented Reclassified December 31, Reclassification December 31, 2023 2023 Current liabilities Borrowings 1,341,689 28,554,210 29,895,899 Derivative Financial Instruments — 866,278 866,278 Total current liabilities $ 1,341,689 $ 29,420,488 $ 30,762,177 Non-current liabilities Borrowings 63,220,501 ( 28,554,210 ) 34,666,291 Derivative Financial Instruments 866,278 ( 866,278 ) — Total non-current liabilities $ 64,086,779 $ ( 29,420,488 ) $ 34,666,291
Summary of Convertible Notes Presented in the Balance Sheet	The convertible notes are presented in the consolidated balance sheet as follows: Borrowings (current liabilities) (in U.S. dollars) December 31, December 31, 2024 2023 Opening balance $ 28,554,210 — Initial recognition — 27,640,052 Costs of issue of convertible notes — ( 43,614 ) Interest expense* 1,806,365 957,772 Balance at December 31, 2024 $ 30,360,575 $ 28,554,210 * Interest expense, for the year ended December 31, 2024, is calculated by applying the effective interest rate of 6.564 % to the liability component. Derivative Financial Instruments (current liabilities) (in U.S. dollars) December 31, December 31, 2024 2023 Opening balance $ 866,278 — Initial Recognition — 2,359,948 Costs of issue of convertible notes — ( 3,724 ) Fair value loss (gain) 4,536,546 ( 1,525,320 ) Effect of foreign currency movements ( 34,200 ) 35,374 Balance at December 31, 2024 $ 5,368,624 $ 866,278

Contributed Equity (Tables)

Contributed Equity (Tables)	12 Months Ended
	Dec. 31, 2024
Disclosure of classes of share capital [abstract]
Schedule of Share Capital	Share capital December 31, December 31, December 31, December 31, 2024 2023 2024 2023 Number of shares Number of shares Amount Amount Ordinary shares Fully paid 567,941,993 488,733,461 $ 367,537,075 $ 338,425,286 Ordinary Share Capital Date Details Note Number of Issue Amount January 1, 2023 Balance 486,774,622 $ — $ 338,108,198 March 15, 2023 Exercise of options (e) 33,333 $ 0.50 11,080 Exercise of performance rights (c) 8,309 $ — — March 23, 2023 Exercise of options (e) 66,666 $ 0.90 40,273 April 12, 2023 Exercise of performance rights (c) 1,910 $ — — May 1, 2023 Exercise of performance rights (c) 23,356 $ — — June 29, 2023 Exercise of performance rights (c) 39,515 $ — — July 21, 2023 Exercise of performance rights (c) 314,276 $ — — August 1, 2023 Exercise of performance rights (c) 6,002 $ — — August 21, 2023 Exercise of performance rights (c) 4,312 $ — — August 29, 2023 Exercise of options (e) 500,000 $ 0.70 225,729 Exercise of share rights (f) 419,719 $ — — September 1, 2023 Exercise of performance rights (c) 250,000 $ — — October 20, 2023 Exercise of performance rights (c) 18,174 $ — — October 24, 2023 Exercise of options (e) 150,000 $ 0.55 52,439 November 21, 2023 Exercise of performance rights (c) 7,526 $ — — November 28, 2023 Exercise of performance rights (c) 2,178 $ — — December 8, 2023 Exercise of performance rights (c) 21,563 $ — — December 14, 2023 Exercise of performance rights (c) 92,000 $ — — Share issue costs ( 12,433 ) December 31, 2023 Balance 488,733,461 $ 338,425,286 January 19, 2024 Exercise of performance rights (c) 125,200 $ — — February 15, 2024 Exercise of performance rights (c) 7,130 $ — — March 14, 2024 Exercise of performance rights (c) 3,841 $ — — April 18, 2024 Exercise of options (e) 33,334 $ 0.50 10,727 April 19, 2024 Exercise of performance rights (c) 9,041 $ — — May 2, 2024 Exercise of performance rights (c) 35,490 $ — — June 4, 2024 Exercise of performance rights (c) 8,987 $ — — June 13, 2024 Exercise of performance rights (c) 32,042 $ — — June 28, 2024 Exercise of performance rights (c) 15,409 $ — — July 12, 2024 Exercise of performance rights (c) 297,885 $ — — July 16, 2024 Exercise of options (e) 3,415,759 $ — 1,605,677 July 29, 2024 Exercise of performance rights (c) 16,684 $ — — September 2, 2024 Exercise of performance rights (c) 250,000 $ — — September 2, 2024 Exercise of share rights (f) 65,405 $ — — September 4, 2024 Exercise of performance rights (c) 618,129 $ — — September 19, 2024 Exercise of performance rights (c) 46,005 $ — — September 24, 2024 Exercise of performance rights (c) 33,193 $ — — October 2, 2024 Exercise of performance rights (c) 2,479 $ — — November 1, 2024 Exercise of performance rights (c) 7,321 $ — — November 12, 2024 Exercise of performance rights (c) 7,522 $ — — December 2, 2024 Placement shares 74,064,647 $ 0.60 28,807,889 December 12, 2024 Exercise of performance rights (c) 113,029 $ — — Share issue costs — ( 1,312,504 ) December 31, 2024 Balance 567,941,993 367,537,075

Reserves (Tables)

Reserves (Tables)	12 Months Ended
	Dec. 31, 2024
Disclosure of reserves within equity [abstract]
Summary of Reserves	December 31, December 31, (in U.S. dollars) 2024 2023 Share-based payment reserve $ 45,642,323 $ 42,462,654 Foreign currency translation reserve ( 20,442,256 ) ( 16,626,921 ) Convertible loan note reserve 4,523,095 4,523,095 $ 29,723,162 $ 30,358,828 Share-based Payment Reserve December 31, December 31, (in U.S. dollars) 2024 2023 Share-based payment reserve $ 45,642,323 $ 42,462,654 Movements: Opening balance 42,462,654 37,161,498 Performance rights cash settled in current period (See Note 28 – Share-based Payments) ( 603,932 ) ( 296,432 ) Cashless exercise of options ( 1,605,677 ) — Equity settled share-based payments 5,523,560 5,621,960 Exchange differences ( 134,282 ) ( 24,372 ) Closing balance $ 45,642,323 $ 42,462,654 The share-based payment reserve includes items recognized as expenses on valuation of director, employee and contractor options and performance rights. Foreign Currency Translation Reserve December 31, December 31, (in U.S. dollars) 2024 2023 Foreign currency translation reserve $ ( 20,442,256 ) $ ( 16,626,918 ) Movements: Opening balance ( 16,626,918 ) ( 15,136,944 ) Exchange differences on translation of foreign operations ( 3,813,897 ) ( 1,489,974 ) Closing balance $ ( 20,440,815 ) $ ( 16,626,918 ) The foreign currency translation reserve includes exchange differences arising on translation of a foreign-controlled subsidiary.

Operating Segments (Tables)

Operating Segments (Tables)	12 Months Ended
	Dec. 31, 2024
Disclosure of operating segments [abstract]
Schedule of Segment Performance	Segment Performance Year Ended December 31, 2024 (in U.S. dollars) Battery Battery Graphite Segment revenue 1 $ — $ 5,854,424 $ — Other income 959,122 1,933,064 — Total income 959,122 7,787,488 — Product manufacturing and operating costs (exclusive of depreciation presented separately) — ( 1,770,517 ) — Administrative and other expenses ( 11,679,814 ) ( 2,252,663 ) — Depreciation and amortization expenses ( 3,562,475 ) ( 1,006,494 ) — Research and development costs ( 4,127,248 ) ( 722,322 ) — Employee benefits expense ( 15,106,300 ) ( 8,474,395 ) — Borrowing costs ( 1,445,374 ) ( 345,394 ) — Segment net loss before tax $ ( 34,962,089 ) $ ( 6,784,297 ) $ — Aggregated Segment net loss before tax $ ( 41,746,386 ) Interest income 1,370,930 Other income 10,063 Other expenses ( 1,175,499 ) Administrative and other expenses ( 5,986,817 ) Employee benefits expense ( 52,223 ) Loss on equity investment securities at fair value through profit or loss ( 15,308,187 ) Share based compensation ( 5,523,560 ) Borrowing costs ( 1,776,230 ) (Loss)/gain on fair value of derivative financial instruments ( 4,536,546 ) Net loss before tax $ ( 74,724,454 ) Year Ended December 31, 2023 (in U.S. dollars) Battery Battery Graphite Segment revenue 1 $ — $ 8,054,529 $ — Other income 37,360 1,936,862 — Total income 37,360 9,991,391 — Product manufacturing and operating costs (exclusive of depreciation presented separately) — ( 2,817,269 ) — Administrative and other expenses ( 9,658,074 ) ( 2,686,861 ) — Impairment losses — — — Depreciation and amortization expenses ( 3,798,626 ) ( 941,509 ) — Research and development costs ( 5,458,721 ) ( 291,853 ) — Employee benefits expense ( 10,196,303 ) ( 8,221,139 ) — Borrowing costs ( 1,408,421 ) ( 474,829 ) — Segment net loss before tax $ ( 30,482,785 ) $ ( 5,442,069 ) $ — Aggregated Segment net loss before tax $ ( 35,924,854 ) Interest income 1,611,128 Other income 24,550 Other expenses 1,359,866 Administrative and other expenses ( 6,518,961 ) Employee benefits expense ( 1,922,438 ) Loss on equity investment securities at fair value through profit or loss — Share based compensation ( 5,621,969 ) Borrowing costs ( 980,852 ) (Loss)/gain on fair value of derivative financial instruments 1,525,320 Net loss before tax $ ( 46,448,210 ) Six Months Ended December 31, 2022 (in U.S. dollars) Battery Battery Graphite Segment revenue 1 $ — $ 2,702,276 $ — Other income 35,154 260,536 — Total income 35,154 2,962,812 — Product manufacturing and operating costs (exclusive of depreciation presented separately) — ( 1,319,682 ) — Administrative and other expenses ( 3,562,171 ) ( 846,562 ) Impairment losses — — — Depreciation and amortization expenses ( 2,204,862 ) ( 367,157 ) — Research and development costs ( 1,729,910 ) ( 290,746 ) Employee benefits expense ( 4,531,566 ) ( 3,363,334 ) — Borrowing costs ( 723,225 ) ( 220,196 ) Segment net loss before tax $ ( 12,716,580 ) $ ( 3,444,865 ) $ — Aggregated Segment net loss before tax $ ( 16,161,445 ) Interest income 19,416 Other expenses 1,360,308 Administrative and other expenses ( 7,072,914 ) Employee benefits expense ( 654,950 ) Share based compensation ( 5,354,429 ) Net loss before tax $ ( 27,864,014 ) Year Ended June 30, 2022 Battery Battery Graphite Segment revenue 1 $ — $ 6,099,815 $ — Other income 385,482 1,202,324 — Interest income — — — Total income 385,482 7,302,139 — Product manufacturing and operating costs (exclusive of depreciation presented separately) ( 15,255 ) ( 1,709,369 ) — Administrative and other expenses ( 4,033,109 ) ( 1,854,309 ) — Borrowing costs ( 1,264,020 ) ( 248,197 ) — Depreciation and amortization expenses ( 3,436,998 ) ( 777,619 ) — Research and development costs ( 3,800,667 ) ( 1,302,157 ) — Employee benefits expense ( 5,640,607 ) ( 4,787,680 ) — Segment net loss before tax $ ( 17,805,174 ) $ ( 3,377,192 ) — Aggregated Segment net loss before tax $ ( 21,182,366 ) Segment revenue 1 1,340 Interest income 8,314 Other expenses 5,195,797 Administrative and other expenses ( 6,704,291 ) Employee benefits expense ( 2,308,302 ) Nasdaq listing related expenses ( 4,226,062 ) Loss on equity investment securities at fair value through profit or loss ( 8,113,657 ) Share based compensation ( 14,530,749 ) Borrowing costs ( 331 ) Net loss before tax $ ( 51,860,307 ) 1 See Note 3 - Revenue , for segment revenue by product line for the year ended December 31, 2024 and 2023, six months ended December 31, 2022, and year ended June 30, 2022.
Schedule of Segment Assets	Segment Assets At December 31, 2024 (in U.S. dollars) Battery Battery Graphite Unallocated Total Segment assets $ 169,314,731 $ 15,235,436 $ 2,049,907 $ 39,495,467 $ 226,095,541 At December 31, 2023 (in U.S. dollars) Battery Battery Graphite Unallocated Total Segment assets $ 147,476,907 $ 20,367,755 $ 2,225,693 $ 93,272,688 $ 263,343,043
Schedule of Segment Liabilities	Segment liabilities December 31, 2024 (in U.S. dollars) Battery Battery Graphite Unallocated Total Segment liabilities $ 44,383,959 $ 8,085,044 $ — $ 36,036,281 $ 88,505,284 December 31, 2023 (in U.S. dollars) Battery Battery Graphite Unallocated Total Segment liabilities $ 69,102,062 $ 9,874,301 $ — $ 430,405 $ 79,406,768

Cash Flow Information (Tables)

Cash Flow Information (Tables)	12 Months Ended
	Dec. 31, 2024
Cash Flow Information [Abstract]
Disclosure of Reconciliation of Net Profit Loss to Net Cash Outflow from Operating Activities	Reconciliation of net profit / (loss) to net cash outflow from operating activities: Year Ended December 31, Six Months Ended December 31, Year Ended June 30, 2024 2023 2022 2022 (in U.S. dollars) Net loss $ ( 74,822,141 ) $ ( 46,248,261 ) $ ( 27,864,014 ) $ ( 51,860,307 ) Adjustments for Share-based compensation 5,523,560 5,620,643 5,357,063 14,680,945 Borrowing costs 1,825,132 983,833 44,960 46,603 Fixed assets written off 103,299 — — — Loss on sale of fixed assets — — 33,485 — Software written off — — 96,596 — Fair value movement in derivative (gain) / loss 4,536,546 ( 1,512,859 ) — — Loss on equity investment securities at fair value through profit or loss 15,308,187 — — 7,937,633 Impairment expense — Foreign exchange (gain) / loss ( 512,273 ) ( 137,781 ) ( 1,368,856 ) ( 5,144,766 ) Non-cash termination settlement — — — — Depreciation and amortization expense 4,568,969 4,739,719 2,572,018 4,214,620 Government incentives — — — ( 219,557 ) Change in operating assets and liabilities: Decrease/(increase) in other trade receivables 1,595,928 ( 567,851 ) 232,354 ( 991,503 ) Decrease /(increase) in inventories 455,643 1,202,967 ( 1,383,644 ) 166,178 (Increase)/Decrease in other operating assets ( 1,530,827 ) 629,315 2,432,642 ( 3,543,910 ) (Increase)/decrease in deferred tax assets 85,121 ( 200,992 ) — — Increase/(decrease) in trade creditors 1,415,363 ( 1,368,063 ) 1,340,692 ( 90,690 ) Increase in income taxes payable — 107,458 — — Decrease/(increase) in other operating liabilities 1,029,724 523,449 ( 359,867 ) 5,575,399 Net cash outflow from operating activities $ ( 40,417,769 ) $ ( 36,228,423 ) $ ( 18,866,571 ) $ ( 29,229,355 )
Summary of Analysis of Net Debt and Movements in Net Debt	This section sets out an analysis of net debt and the movements in net debt for each period presented. December 31, December 31, 2024 2023 (in U.S. dollars) Cash and cash equivalents $ 42,557,621 $ 78,713,885 Lease liability - repayable within one year ( 522,297 ) ( 345,933 ) Borrowings – repayable within one year (including overdraft) ( 31,668,810 ) ( 29,895,899 ) Lease liability - repayable after one year ( 6,488,119 ) ( 4,479,627 ) Borrowings – repayable after one year ( 32,775,271 ) ( 34,666,291 ) Net cash (debt) $ ( 28,896,876 ) $ 9,326,135 Cash and cash equivalents 42,557,621 78,713,885 Gross debt – fixed interest rates ( 38,770,675 ) ( 35,176,279 ) Gross debt – variable interest rates ( 32,683,822 ) ( 34,211,471 ) Net cash (debt) $ ( 28,896,876 ) $ 9,326,135
Summary of Reconciliation of Liabilities Arising from Financing Activities	Liabilities from financing activities (in U.S. dollars) Cash Borrowings due Borrowings due Total Net cash as of January 1, 2023 $ 99,039,172 $ ( 1,438,692 ) $ ( 39,903,148 ) $ 57,697,332 Cashflows ( 18,653,649 ) 1,428,959 ( 30,752,830 ) ( 47,977,520 ) Other non-cash movements ( 1,671,638 ) ( 1,677,889 ) 2,955,850 ( 393,677 ) Net cash as of December 31, 2023 78,713,885 ( 1,687,622 ) ( 67,700,128 ) 9,326,135 Cashflows ( 36,156,264 ) 1,587,931 — ( 34,568,333 ) Other non-cash movements — ( 31,569,119 ) 34,924,857 3,355,738 Net cash as of December 31, 2024 $ 42,557,621 $ ( 31,668,810 ) $ ( 32,775,271 ) $ ( 21,886,460 )

Interests in Subsidiaries (Tabl

Interests in Subsidiaries (Tables)	12 Months Ended
	Dec. 31, 2024
Default Root [Abstract]
Summary of Information About Principal Subsidiaries	The Company’s material subsidiaries at December 31, 2023, are set out in the following table. Unless otherwise stated, each entity has share capital consisting solely of ordinary shares that are held by the Company, and the proportion of ownership interest held equals the voting rights held by the Company. The country of incorporation or registration is also their principal place of business. The functional currency of each of the Company’s entities is the currency of the primary economic environment in which that entity operates. The consolidated financial statements are presented in U.S. dollars (See Note 1 – Summary of Material Accounting Policy Information ). Ownership interest Place of business Functional 2024 2023 Principal Name of entity incorporation Currency % % activities MD South Tenements Pty Ltd Australia AUD 100 % 100 % Graphite exploration NOVONIX Battery Technology Solutions, Inc. Canada CAN 100 % 100 % Battery technology services NOVONIX Corp USA USD 100 % 100 % Investment and management NOVONIX Anode Materials, LLC USA USD 100 % 100 % Battery materials development and production NOVONIX 1029, LLC USA USD 100 % 100 % Real estate borrower

Share-based Payments (Tables)

Share-based Payments (Tables)	12 Months Ended
	Dec. 31, 2024
Disclosure of terms and conditions of share-based payment arrangement [abstract]
Composition of Share Based Payments Expense	The following table presents the composition of share-based payments expense for the years ended December 31, 2024 and 2023, six-months ended December 31, 2022, and the year ended June 30, 2022. Year Ended December 31, Six Months Ended December 31, Year Ended June 30, (in U.S. dollars) 2024 2023 2022 2022 Share rights granted in current year $ 402,966 $ 31,943 $ 444,480 2,620,399 Share rights granted in prior year — 368,039 — — Performance rights granted in current year 2,407,539 989,336 2,274,551 10,810,456 Performance rights granted in prior years 3,225,525 4,104,908 2,582,698 192,285 Options granted in current year — — — — Options granted in prior years ( 512,470 ) 127,734 52,700 907,609 Share based payment expense 5,523,560 5,621,960 5,354,429 14,530,749 Payments of withholding tax - Performance rights ( 603,932 ) ( 296,432 ) ( 133,878 ) ( 2,501,992 ) Cashless exercise of options ( 1,605,677 ) — — — Exchange differences ( 134,282 ) ( 24,373 ) ( 84,564 ) — Movement in share-based payments reserve $ 3,179,669 $ 5,301,155 $ 5,135,987 $ 12,028,757
Summary of Movements of All Share Rights Issued	A summary of movements of all share rights issued is as follows: Number on issue Share rights outstanding at January 1, 2023 436,403 Granted 65,405 Forfeited ( 16,684 ) Exercised ( 419,719 ) Share rights outstanding at December 31, 2023 65,405 Share rights exercisable at January 1, 2024 65,405 Granted 632,890 Forfeited — Exercised ( 65,405 ) Share rights outstanding at December 31, 2024 632,890 Share rights exercisable at December 31, 2024 632,890 During the year ended December 31, 2024, share rights were granted to non-executive Directors, as set out in the table below. The share rights are convertible to ordinary shares on a 1 :1 basis and vest on receipt of Shareholder approval. The value of each share right was determined with reference to the market value of the underlying securities on grant date. An expense of $ 402,966 was recognized for the year ended December 31, 2024.
Summary of Share Rights	Further details of the share rights granted during the year December 31, 2024, are set out in the table below: Name Grant date Number Vesting date Fair value (AUD) Expiry Expense recognized Anthony Bellas January 1, 2024 109,749 December 31, 2024 $ 0.97 December 31, 2025 $ 69,878 Sharan Burrow January 1, 2024 84,145 December 31, 2024 $ 0.97 December 31, 2025 $ 53,576 Ron Edmonds January 1, 2024 109,749 December 31, 2024 $ 0.97 December 31, 2025 $ 69,878 Robert Natter January 1, 2024 109,749 December 31, 2024 $ 0.97 December 31, 2025 $ 69,878 Jean Oelwang January 1, 2024 109,749 December 31, 2024 $ 0.97 December 31, 2025 $ 69,878 Phillips 66 January 1, 2024 109,749 December 31, 2024 $ 0.97 December 31, 2025 $ 69,878 Total expense recognized $ 402,966
Summary of Movements of All Performance Rights Issued	A summary of movements of all performance rights issued is as follows: Number on issue 2024 Performance rights outstanding at January 1, 2023 11,011,895 Granted 4,631,721 Forfeited ( 962,688 ) Exercised ( 1,252,558 ) Performance rights outstanding at December 31, 2023 13,428,370 Granted 16,287,972 Forfeited ( 5,819,922 ) Exercised ( 2,879,589 ) Performance rights outstanding at December 31, 2024 21,016,831 Performance rights vested at December 31, 2024 —
Summary of Performance Rights	Further details of the performance rights are set out in the table below: Name Grant date Number Vesting date Fair value (AUD) Expiry Expense recognized Rashda Buttar April 18, 2024 1,075,930 December 31, 2026 $ 0.89 Cessation of employment $ 210,918 Chris Burns April 18, 2024 3,658,161 December 31, 2026 $ 0.89 Cessation of employment $ 716,965 Darcy MacDougald April 18, 2024 1,075,930 December 31, 2026 $ 0.89 Cessation of employment $ 210,872 Robert Long October 8, 2024 1,144,130 December 31, 2026 $ 0.70 Cessation of employment 74,794 Nick Liveris April 18, 2024 1,398,709 December 31, 2026 $ 0.89 Cessation of employment — Non-KMP employees January 31, 2024 5,523,634 ¼ January 5, 2025 $ 0.57 Cessation of employment 824,722 ¼ January 5, 2026 Cessation of employment ¼ January 5, 2027 Cessation of employment ¼ January 5, 2028 Cessation of employment Non-KMP employees February 16, 2024 722,884 ¼ January 5, 2025 $ 0.84 Cessation of employment 172,554 ¼ January 5, 2026 Cessation of employment ¼ January 5, 2027 Cessation of employment ¼ January 5, 2028 Cessation of employment Non-KMP employees February 21, 2024 172,400 $ 0.80 Cessation of employment 43,841 Non-KMP employees March 11, 2024 96,014 $ 1.01 Cessation of employment — Non-KMP employees March 25, 2024 96,014 $ 0.87 Cessation of employment 22,195 Non-KMP employees April 5, 2024 17,195 $ 1.01 Cessation of employment 7,189 Non-KMP employees April 8, 2024 80,612 4 equal annual $ 0.87 Cessation of employment 17,610 Non-KMP employees April 15, 2024 181,376 tranches $ 0.83 Cessation of employment 37,030 Non-KMP employees April 29, 2024 82,425 commencing on the $ 0.72 Cessation of employment 13,818 Non-KMP employees May 27, 2024 58,423 anniversary of $ 0.69 Cessation of employment 8,265 Non-KMP employees August 23, 2024 171,834 employment $ 0.61 Cessation of employment 14,096 Non-KMP employees October 16, 2024 93,328 $ 0.81 Cessation of employmen t 6,626 Non-KMP employees October 22, 2024 382,022 $ 0.84 Cessation of employment 19,097 Non-KMP employees November 12, 2024 45,822 $ 0.84 Cessation of employment 2,425 Non-KMP employees December 2, 2024 211,129 $ 0.72 Cessation of employment 4,522 Total number issued 16,287,972 $ 2,407,539
Summary of Group Net Settled in Share-Based Payments	During the year ended December 31, 2024, the Company net settled the following share-based payments: Name Performance rights Net settled shares Withholding obligation Non-KMP employees 1,295,643 818,740 $ 235,153 Chris Burns 759,931 349,568 196,487 Rashda Buttar 295,479 165,208 63,723 Nick Liveris 359,422 192,002 79,103 Darcy MacDougald 169,114 103,869 29,466 Total $ 603,932
Summary of Movements of Options Issued	A summary of movements of all options issued is as follows: Number on issue Weighted Average Exercise Price (AUD) Options outstanding as of January 1, 2023 29,093,334 $ 0.52 Granted to employees — — Forfeited ( 133,334 ) $ 1.30 Exercised ( 749,999 ) $ 0.68 Options outstanding as of December 31, 2023 28,210,001 $ 0.50 Vested options outstanding as of December 31, 2023 12,676,667 $ 0.50 Forfeited ( 5,010,000 ) $ 0.50 Exercised ( 12,033,334 ) $ 0.50 Options outstanding as of December 31, 2024 11,166,667 $ 0.50 Vested options outstanding as of December 31, 2024 666,667 $ 0.50

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2024
Commitments and Contingencies [Abstract]
Summary of Exploration Commitments	Exploration Commitments December 31, December 31, (in U.S. dollars) 2024 2023 Commitments for payments under exploration permits in existence at the reporting date but not recognized as liabilities payable $ 470,763 $ 2,000
Summary of Significant Capital Expenditure Contracted	Significant capital expenditure contracted for at the end of the reporting period but not recognized as liabilities is as follows: December 31, December 31, (in U.S. dollars) 2024 2023 Property, plant and equipment $ 52,968,336 $ 9,321,453 The capital commitments relate to purchases of property, plant and equipment in connection with the expansion of our business and development of our technologies in the NAM and BTS business segments and are expected to be recognized within the next twelve months.

Financial Risk Management (Tabl

Financial Risk Management (Tables)	12 Months Ended
	Dec. 31, 2024
Disclosure of detailed information about financial instruments [abstract]
Summary of Financial Instruments	The totals for each category of financial instruments, measured in accordance with IAS 39: Financial Instruments: Recognition and Measurement, as detailed in the accounting policies to these consolidated financial statements, are as follows: December 31, December 31, 2024 2023 (in U.S. dollars) Notes Financial assets Cash and cash equivalents $ 42,557,621 $ 78,713,885 Trade and other receivables 10, 12 9,610,361 4,358,833 Financial assets at fair value through profit or loss 15 — 16,666,665 Total financial assets 52,167,982 99,739,383 Financial liabilities Trade payables 18 998,258 1,342,369 Lease liabilities 20 7,010,416 4,825,560 Borrowings 21 64,444,081 64,562,190 Total financial liabilities $ 72,452,755 $ 70,730,119
Schedule of Exposure to Foreign Currency Risk at the end of Reporting Period	The Company’s exposure to foreign currency risk at the end of the reporting period, expressed in U.S. dollars, was as follows: December 31, 2024 December 31, 2023 December 31, 2024 December 31, 2023 Cash at bank $ — $ — $ 2,351,324 $ 32,748,324 Trade receivables — — 1,507,778 2,427,380 Trade payables 3,623 — 50,778 37,283
Summary of Contractual Maturities of Non-derivative Financial Liabilities	As of December 31, 2024, the contractual maturities of the Company’s non-derivative financial liabilities were as follows: Contractual maturities of Less than 6 – 12 Between Between Over Total Carrying At December 31, 2024 US$ US$ US$ US$ US$ US$ US$ Trade and other payables $ 8,524,141 $ — $ — $ — $ — $ 8,524,141 $ 8,524,141 Lease liabilities 404,400 404,400 841,152 2,730,770 4,178,969 8,559,691 7,010,416 Borrowings* 1,392,972 1,390,774 2,766,961 41,890,779 31,699,815 79,141,300 64,444,081 Total non-derivatives $ 10,321,513 $ 1,795,174 $ 3,608,113 $ 44,621,549 $ 35,878,784 $ 96,225,132 $ 79,978,638 * Includes convertible notes (note 22) with terms that allow for redemption in cash at maturity (June 2028) at the option of the holder.

Summary of Material Accountin_4

Summary of Material Accounting Policy Information - Additional Information (Details)		1 Months Ended			6 Months Ended	12 Months Ended
	Jun. 21, 2023 USD ($) shares	Jan. 31, 2025 USD ($) shares	Nov. 30, 2024 USD ($) shares	Apr. 30, 2024 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2024 USD ($) Tonnes	Dec. 31, 2023 USD ($)	Jun. 30, 2022 USD ($)	Nov. 30, 2023 USD ($)	Jun. 30, 2021 USD ($)
Disclosure Of Initial Application Of Standards Or Interpretations [Line Items]
Net loss						$ 74,800,000	$ 46,200,000
Net operating cash outflows					$ 18,866,571	40,417,769	36,228,423	$ 29,229,355
Cash balance					99,039,172	42,557,621	78,713,885	142,737,362		$ 102,601,252
Net current assets						$ 11,100,000	51,900,000
Number of tonnes production capacity per year | Tonnes						150,000
Share value					$ 96,356	$ 29,111,789	$ 317,088	$ 170,266,882
Number of shares issued | shares	45,221,586
Government grants funding amount receivable						100,000,000			$ 100,000,000
Reimbursement from grant funds						19,156,398
Additional reimbursement from grant funds						$ 5,100,000
Tax credit				$ 103,000,000
Technology
Disclosure Of Initial Application Of Standards Or Interpretations [Line Items]
Intangible assets useful life						5 years
Software
Disclosure Of Initial Application Of Standards Or Interpretations [Line Items]
Intangible assets useful life						3 years
Ordinary Shares | Institutional Placement
Disclosure Of Initial Application Of Standards Or Interpretations [Line Items]
Share value			$ 26,600,000
Number of shares issued | shares			74,100,000
Production capacity by 2025 | Ordinary Shares | Eligible Shareholders
Disclosure Of Initial Application Of Standards Or Interpretations [Line Items]
Share value		$ 25,800,000
Number of shares issued | shares		68,600,000
Production capacity by 2025 | Ordinary Shares | Phillips 66 Company
Disclosure Of Initial Application Of Standards Or Interpretations [Line Items]
Share value		$ 5,000,000
Number of shares issued | shares		12,800,000
LG Energy Solution
Disclosure Of Initial Application Of Standards Or Interpretations [Line Items]
Convertible notes issued	$ 30,000,000

Summary of Material Accountin_5

Summary of Material Accounting Policy Information - Summary of Property, Plant and Equipment Over Their Expected Useful Lives (Details)	12 Months Ended
	Dec. 31, 2024
Buildings | Bottom of Range
Disclosure Of Property Plant And Equipment [Line Items]
Property, plant and equipment expected useful lives	25 years
Buildings | Top of Range
Disclosure Of Property Plant And Equipment [Line Items]
Property, plant and equipment expected useful lives	39 years
Plant and Equipment | Bottom of Range
Disclosure Of Property Plant And Equipment [Line Items]
Property, plant and equipment expected useful lives	3 years
Plant and Equipment | Top of Range
Disclosure Of Property Plant And Equipment [Line Items]
Property, plant and equipment expected useful lives	20 years

Parent Entity Financial Infor_3

Parent Entity Financial Information - Summary of Information Extracted from Books and Records of Parent (Details) - USD ($)	Dec. 31, 2024	Jun. 30, 2024	Dec. 31, 2023	Jan. 01, 2023	Dec. 31, 2022	Jun. 30, 2022	Jun. 30, 2021
Current assets
Cash and cash equivalents	$ 42,557,621		$ 78,713,885		$ 99,039,172	$ 142,737,362	$ 102,601,252
Trade and other receivables	8,158,174		3,564,333
Prepayments	1,700,788		1,859,797
Assets classified as held for sale	2,044,673		2,219,952
Total current assets	57,297,347		89,153,275
Non-current assets
Exploration and evaluation assets			0		2,212,013
Investment securities at fair value through profit or loss			16,666,665
Other assets	1,156,056		1,254,826
Total non-current assets	168,798,194		174,189,768
Total assets	226,095,541		263,343,043
Current liabilities
Payables	998,258		1,342,369
Borrowings	31,668,810	$ 30,856,176	29,895,899
Derivative financial instruments	5,368,624	$ 426,553	866,278
Total current liabilities	46,241,894		37,260,850
Total liabilities	88,505,284		79,406,768
Net assets	137,590,257		183,936,275
Equity [abstract]
Contributed equity	367,537,075		338,425,286	$ 338,108,198
Reserves	29,723,162		30,358,828
Accumulated losses	(259,669,980)		(184,847,839)
Total equity	137,590,257		183,936,275		$ 226,056,269	$ 251,133,478	$ 138,449,834
Parent
Current assets
Cash and cash equivalents	39,222,311		72,819,657
Trade and other receivables	92,533		62,513
Prepayments	64,749		12,992
Current assets	39,379,593		72,895,162
Assets classified as held for sale	2,197,607		2,372,886
Total current assets	41,577,200		75,268,048
Non-current assets
Amounts due from related parties	132,012,140		121,976,670
Investment securities at fair value through profit or loss			16,429,244
Other assets	5,234		5,741
Total non-current assets	132,017,374		138,411,655
Total assets	173,594,574		213,679,703
Current liabilities
Payables	275,118		322,940
Borrowings	30,360,575		28,554,210
Derivative financial instruments	5,368,624		866,278
Total current liabilities	36,004,317		29,743,428
Total liabilities	36,004,317		29,743,428
Net assets	137,590,257		183,936,275
Equity [abstract]
Contributed equity	367,537,075		338,425,286
Reserves	2,844,337		25,017,175
Accumulated losses	(232,791,155)		(179,506,186)
Total equity	$ 137,590,257		$ 183,936,275

Parent Entity Financial Infor_4

Parent Entity Financial Information - Summary of Information Extracted from Books and Records of Parent 1 (Details) - USD ($)	Dec. 31, 2024	Dec. 31, 2023
Parent
Statement of profit or loss and other comprehensive income [abstract]
Total loss and total comprehensive loss	$ (53,284,969)	$ (47,135,365)

Parent Entity Financial Infor_5

Parent Entity Financial Information - Additional Information (Details) - AUD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Statement of financial position [abstract]
Contingent liabilities	$ 0	$ 0
Contractual commitments	$ 0	$ 0

Revenue - Summary of Revenue Fr

Revenue - Summary of Revenue From Transfer of Goods And Services (Details) - USD ($)	6 Months Ended	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2024	Dec. 31, 2023	Jun. 30, 2022
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Revenue	$ 2,702,276	$ 5,854,424	$ 8,054,528	$ 6,101,155
At a point in time
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Revenue	403,680	1,805,745	2,999,533	2,549,308
Over time
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Revenue	2,298,596	4,048,679	5,054,995	3,551,847
At a point in time and Over time
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Revenue	2,702,276	5,854,424	8,054,528	6,101,155
Hardware sales
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Revenue	403,860	1,805,745	2,999,533	2,549,308
Consulting sales
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Revenue	2,298,596	4,048,679	5,054,995	3,551,847
Hardware and consulting Sales
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Revenue	2,702,456	5,854,424	8,054,528	6,101,155
Battery Technology | At a point in time
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Revenue	403,680	1,805,745	2,999,533	2,549,308
Battery Technology | Over time
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Revenue	2,298,596	4,048,679	5,054,995	3,551,847
Battery Technology | At a point in time and Over time
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Revenue	2,702,276	5,854,424	8,054,528	6,101,155
Battery Technology | Hardware sales
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Revenue	403,860	1,805,745	2,999,533	2,549,308
Battery Technology | Consulting sales
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Revenue	2,298,596	4,048,679	5,054,995	3,551,847
Battery Technology | Hardware and consulting Sales
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Revenue	$ 2,702,456	$ 5,854,424	$ 8,054,528	$ 6,101,155

Revenue - Summary of Assets and

Revenue - Summary of Assets and Liabilities Related to Contracts with Customers Recognised (Details) - USD ($)	Dec. 31, 2024	Dec. 31, 2023
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Total other current liabilities	$ 126,056	$ 285,221
Hardware sales
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Total other current liabilities		56,653
Services sales
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Total other current liabilities	$ 126,056	$ 228,568

Revenue - Summary of Revenue Re

Revenue - Summary of Revenue Recognised in Current Reporting Period Relates to Brought-Forward Contract Liabilities (Details) - USD ($)	6 Months Ended	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2024	Dec. 31, 2023	Jun. 30, 2022
Hardware sales
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Revenue recognised that was included in the contract liability balance at the beginning of the period	$ 2,715	$ 285,221	$ 71,985	$ 232,800

Revenue - Additional Informatio

Revenue - Additional Information (Detail) - AUD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]
Contract assets	$ 0	$ 0
Remaining performance obligations	$ 0
Remaining performance obligations maximum original expected term	1 year

Other Income, Net - Summary of

Other Income, Net - Summary of Other Income, Net (Detail) - USD ($)	6 Months Ended	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2024	Dec. 31, 2023	Jun. 30, 2022
Analysis of income and expense [abstract]
Interest income	$ 19,416	$ 1,370,929	$ 1,611,128	$ 8,314
Manufacturing and Energy Supply Chains Grant		470,783
Other grant funding	260,536	1,827,882	1,161,992	982,767
Fair value gain on borrowings				219,557
Research and development tax incentive		593,521	689,089
Other	35,154	10,064	147,691	385,482
Other Income	$ 315,106	$ 4,273,179	$ 3,609,900	$ 1,596,120

Other Income, Net - Additional

Other Income, Net - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Nov. 30, 2023
Analysis of income and expense [abstract]
Government grants funding amount receivable	$ 100,000,000		$ 100,000,000
Payroll and salary expense	470,783
Reimbursement from grant funds	19,156,398
Capital expenditure	52,968,336	$ 9,321,453
Capital expenditure claims offset against construction in progress additions in property, plant and equipment	$ 18,677,454

Loss before Income Taxes - Loss

Loss before Income Taxes - Loss Before Income Taxes (Details) - USD ($)	6 Months Ended	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2024	Dec. 31, 2023	Jun. 30, 2022
Share based payments expense^
Performance rights granted	$ 4,857,249	$ 5,591,417	$ 5,094,244	$ 11,307,550
Share rights granted	444,480	444,613	399,982	2,260,399
Options granted	52,700	(512,470)	127,734	962,800
Total expense from share-based payment transactions	5,354,429	5,523,560	5,621,960	14,530,749
Borrowing costs
Interest accrued on loan notes		1,776,230	980,852
Unwinding of fair value gain	25,945	25,510	18,553	43,979
Interest accrued on borrowings	917,476	1,765,258	1,864,697	1,468,569
Total borrowing costs	$ 943,421	$ 3,566,998	$ 2,864,102	$ 1,512,548

Loss before Income Taxes - Sche

Loss before Income Taxes - Schedule of Administrative and Other Expenses (Details) - USD ($)	6 Months Ended	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2024	Dec. 31, 2023	Jun. 30, 2022
Administrative and Other Expenses [Abstract]
Insurance	$ 4,019,027	$ 4,125,899	$ 6,750,308	$ 3,842,129
Legal fees	895,138	2,735,055	1,730,766	1,426,081
Occupancy expenses	628,816	2,470,502	418,206	1,729,282
Consulting fees	751,047	4,298,968	3,672,513	1,080,601
Software implementation and systems-related expenses	1,034,420	1,214,833	1,758,962
Other expenses	4,153,199	5,074,035	4,533,142	4,513,616
Total Administrative and other expenses	$ 11,481,647	$ 19,919,292	$ 18,863,896	$ 12,591,709

Income Tax (Benefit) Expense -

Income Tax (Benefit) Expense - Schedule of Components of Income Tax Expense (Benefit) and Deferred Tax Assets and Liabilities (Details) - USD ($)	6 Months Ended	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2024	Dec. 31, 2023	Jun. 30, 2022
(a) Numerical reconciliation of income tax expense to prima facie tax payable
Loss before income tax expense	$ (27,864,014)	$ (74,724,454)	$ (46,448,210)	$ (51,860,307)
Tax at the Australian tax rate of 30% (2023: 30%)	(8,359,204)	(22,417,336)	(13,934,463)	(12,965,077)
Share based payments	1,087,931	1,268,814	1,262,386	3,153,550
Government grants	104,079	49,333	507,207	49,458
State tax expense		19,285
Unrealized foreign exchange gain	(7,459)			38,172
(Loss)/Gain on fair value of derivative instruments		2,760,350	6,582
Borrowing costs	7,524			13,107
Other non-deductible amounts	68,801	60,834	2,793	727,362
Other deferred basis adjustments		(2,169,023)		3,099
Difference in overseas tax rate	670,144	3,367,164	2,232,607	(560,684)
Adjustments for current tax of prior periods	(292,141)	(158,880)	(102,522)
Adjustment to deferred tax assets and liabilities for tax losses and temporary differences not recognized	6,720,325	17,317,146	9,825,461	9,541,013
Income tax (benefit) expense		97,687	(199,949)
(b) Tax losses
Unused tax losses for which no deferred tax asset has been recognized	82,326,319	150,819,578	115,482,188	85,249,412
Potential tax benefit	24,697,896	45,245,873	34,644,656	21,312,383
(d) Deferred tax assets
Tax losses	24,697,896	37,950,397	34,644,656	21,312,353
Exploration and evaluation assets	522,068	192,271	365,919	545,211
Business capital costs	2,143,430	789,677	1,566,275	1,733,648
Other non-current assets	4,759,740	14,237,476	8,116,735	2,055,471
Right of use asset	79,151	141,193	92,858	58,650
Unrealized exchange loss on borrowings	433,514		259,804	213,791
Accrued expenses	307,811	66,059	98,303	468,644
Deferred revenue		648,024
Other	19,686	36,410	21,438	330,510
Total deferred tax assets	32,963,296	54,061,507	45,165,988	26,718,278
Set-off of deferred tax liabilities pursuant to set-off provisions	(2,913,574)	(3,719,657)	(4,970,299)	(1,495,735)
Deferred tax assets not recognized	(30,049,722)	(50,225,561)	(39,994,325)	(25,222,543)
Net deferred tax assets		116,289	201,364
(e) Deferred tax liabilities
Other non-current assets	(2,031,711)	(3,059,287)	(4,162,691)	(351,147)
Prepayments	(215,967)	(161,500)	(224,008)	(1,144,588)
Foreign currency (loss)/gain	(665,896)	(498,870)	(583,600)
Total deferred tax liabilities	(2,913,574)	(3,719,657)	(4,970,299)	(1,495,735)
Set-off of deferred tax liabilities pursuant to set-off provisions	$ 2,913,574	$ 3,719,657	$ 4,970,299	$ 1,495,735

Income Tax (Benefit) Expense _2

Income Tax (Benefit) Expense - Schedule of Components of Income Tax Expense (Benefit) and Deferred Tax Assets and Liabilities (Parenthetical) (Details)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Major components of tax expense (income) [abstract]
Australian tax rate	30%	30%

Income Tax (Benefit) Expense (A

Income Tax (Benefit) Expense (Additional Information) (Details)	12 Months Ended
	Dec. 31, 2024 USD ($)
Deferred tax assets and liabilities [abstract]
Recognized deferred tax assets	$ 116,289
Tax-related contingent liabilities for uncertain tax treatment	0
Net operating losses	150,819,578
Net operating losses subject to expiration	$ 15,224,909

Key Management Personnel Comp_3

Key Management Personnel Compensation - Summary of Remuneration Paid to KMP of Company (Details) - USD ($)	6 Months Ended	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2024	Dec. 31, 2023	Jun. 30, 2022
Key Management Personnel Compensation [Abstract]
Short-term employee benefits	$ 1,457,899	$ 3,229,618	$ 2,514,689	$ 3,202,116
Post-employment benefits	20,997	56,853	45,092	144,594
Share-based compensation	4,006,327	3,484,966	2,228,316	12,118,927
Total KMP compensation	$ 5,485,223	$ 6,771,437	$ 4,788,097	$ 15,465,637

Auditor's Remuneration - Summar

Auditor's Remuneration - Summary of Detailed Information About Auditor's Remuneration (Details) - USD ($)	6 Months Ended	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2024	Dec. 31, 2023	Jun. 30, 2022
Auditor's remuneration [abstract]
Audit fees	$ 471,568	$ 423,235	$ 412,793	$ 266,000
Audit-related fees		10,391
Other fees in relation to prior year's audit		42,222	8,382
Other assurance services and fees		13,811	13,291	276,498
Total	$ 471,568	$ 489,659	$ 434,466	$ 542,498

Earnings per Share - Schedule o

Earnings per Share - Schedule of Earnings per Share (Details) - $ / shares	6 Months Ended	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2024	Dec. 31, 2023	Jun. 30, 2022
Basic net loss per share
Total basic net loss per share attributable to the ordinary equity holders of the Company	$ (0.06)	$ (0.15)	$ (0.09)	$ (0.11)
Diluted net loss per share
Total diluted net loss per share attributable to the ordinary equity holders of the Company	$ (0.06)	$ (0.15)	$ (0.09)	$ (0.11)

Earnings per Share - Schedule_2

Earnings per Share - Schedule of Reconciliations of Net Loss Used in Calculating Net Loss Per Share (Details) - USD ($)	6 Months Ended	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2024	Dec. 31, 2023	Jun. 30, 2022
Basic net loss per share
Net loss attributable to the ordinary equity holders of the Company used in calculating basic net loss per share	$ (27,864,014)	$ (74,822,141)	$ (46,248,261)	$ (51,860,307)
Diluted net loss per share
Net loss attributable to the ordinary equity holders of the Company used in calculating diluted net loss per share	$ (27,864,014)	$ (74,822,141)	$ (46,248,261)	$ (51,860,307)

Earnings per Share - Schedule_3

Earnings per Share - Schedule of Weighted Average Number of Shares Used as the Denominator (Details) - shares	6 Months Ended	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2024	Dec. 31, 2023	Jun. 30, 2022
Earnings per share [abstract]
Weighted average number of ordinary shares used as the denominator in calculating basic net loss per share	486,616,365	496,862,010	487,474,460	464,437,628
Weighted average number of ordinary shares used as the denominator in calculating diluted net loss per share	486,616,365	496,862,010	487,474,460	464,437,628

Capital Raising - Schedule of R

Capital Raising - Schedule of Repayment of Convertible Notes (Parenthetical) (Details)	Jun. 21, 2023 $ / shares shares
Capital Raising [Line Items]
Number of shares issued | shares	45,221,586
Share price per share | $ / shares	$ 1

Capital Raising - Schedule of S

Capital Raising - Schedule of Strategic Placement (Details)	Jun. 21, 2023 shares
Capital Raising [Line Items]
Number of shares issued	45,221,586

Trade and Other Receivables - S

Trade and Other Receivables - Summary of Trade and Other Receivables (Details) - USD ($)	Dec. 31, 2024	Dec. 31, 2023
Trade and other current receivables [abstract]
Trade debtors	$ 1,627,393	$ 3,034,897
MESC grant funds receivable	6,323,492
Loss allowance	(252,429)
Other receivables	459,717	529,436
Total trade and other receivables	$ 8,158,173	$ 3,564,333

Trade and Other Receivables - A

Trade and Other Receivables - Additional Information (Details) - USD ($)	Dec. 31, 2024	Nov. 30, 2023
Trade and other current receivables [abstract]
MESC grant funds receivable	$ 6,323,492
Government grants funding amount receivable	$ 100,000,000	$ 100,000,000

Prepayments - Summary of Prepay

Prepayments - Summary of Prepayments (Details) - USD ($)	Dec. 31, 2024	Dec. 31, 2023
Current prepayments and current accrued income including current contract assets [abstract]
Prepayments of inventory components	$ 393,788	$ 753,973
Prepaid general and administrative expenses	1,307,000	1,105,824
Total	$ 1,700,788	$ 1,859,797

Prepayments - Additional Inform

Prepayments - Additional Information (Details) - USD ($)	Dec. 31, 2024	Dec. 31, 2023
Riverside Facility
Disclosure of detailed information about property, plant and equipment [line items]
Prepaid property insurance premiums	$ 617,947	$ 745,693

Escrow Reserves - Summary of Es

Escrow Reserves - Summary of Escrow Reserves (Details) - USD ($)	Dec. 31, 2024	Dec. 31, 2023
Escrow Reserves [Abstract]
Escrow reserves	$ 1,452,187	$ 794,500

Inventory - Summary of Inventor

Inventory - Summary of Inventory (Details) - USD ($)	Dec. 31, 2024	Dec. 31, 2023
Classes of current inventories [abstract]
Raw materials	$ 10,083	$ 507,326
Components and assemblies	1,240,568	1,403,873
Finished goods – at cost	133,253	89,609
Total Inventory	$ 1,383,904	$ 2,000,808

Inventory - Additional Informat

Inventory - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Classes of current inventories [abstract]
Inventories recognized as an expense	$ 0.7	$ 1.1

Property, Plant and Equipment -

Property, Plant and Equipment - Summary of Property, Plant and Equipment (Details) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Disclosure Of Property Plant And Equipment [Line Items]
Property, plant and equipment	$ 139,793,447	$ 125,316,748
Additions	33,290,758	18,525,768
Manufacturing and Energy Supply Chains Grant	(18,677,454)
Disposals	(206,913)	(193,160)
Depreciation charge	(3,935,033)	(4,126,220)
Exchange differences	(954,461)	270,311
Property, plant and equipment	149,310,343	139,793,447
Net book amount	149,310,343		$ 125,316,748
Cost
Disclosure Of Property Plant And Equipment [Line Items]
Net book amount	164,358,225		132,597,433
Accumulated depreciation
Disclosure Of Property Plant And Equipment [Line Items]
Net book amount	(15,047,882)		(7,280,685)
Land
Disclosure Of Property Plant And Equipment [Line Items]
Property, plant and equipment	2,330,826	2,314,473
Exchange differences	(58,529)	16,353
Property, plant and equipment	2,272,297	2,330,826
Net book amount	2,272,297		2,314,473
Land | Cost
Disclosure Of Property Plant And Equipment [Line Items]
Net book amount	2,272,297		2,314,473
Buildings
Disclosure Of Property Plant And Equipment [Line Items]
Property, plant and equipment	43,786,229	44,839,066
Additions		113,215
Depreciation charge	(1,284,120)	(1,304,113)
Exchange differences	(487,960)	138,061
Property, plant and equipment	42,014,149	43,786,229
Net book amount	42,014,149		44,839,066
Buildings | Cost
Disclosure Of Property Plant And Equipment [Line Items]
Net book amount	47,322,495		47,602,298
Buildings | Accumulated depreciation
Disclosure Of Property Plant And Equipment [Line Items]
Net book amount	(5,308,346)		(2,763,232)
Leasehold improvements
Disclosure Of Property Plant And Equipment [Line Items]
Property, plant and equipment	424,769	579,110
Additions		193,251
Transfers		88,882
Depreciation charge	(196,815)	(436,474)
Property, plant and equipment	227,954	424,769
Net book amount	227,954		579,110
Leasehold improvements | Cost
Disclosure Of Property Plant And Equipment [Line Items]
Net book amount	1,430,580		1,148,447
Leasehold improvements | Accumulated depreciation
Disclosure Of Property Plant And Equipment [Line Items]
Net book amount	(1,202,626)		(569,337)
Machinery and equipment
Disclosure Of Property Plant And Equipment [Line Items]
Property, plant and equipment	21,204,001	20,868,849
Additions		877,938
Disposals	(55,033)	(193,160)
Transfers	530,013	1,939,982
Depreciation charge	(2,454,098)	(2,385,633)
Exchange differences	(391,524)	96,025
Property, plant and equipment	18,833,359	21,204,001
Net book amount	18,833,358		20,868,849
Machinery and equipment | Cost
Disclosure Of Property Plant And Equipment [Line Items]
Net book amount	27,370,268		24,816,965
Machinery and equipment | Accumulated depreciation
Disclosure Of Property Plant And Equipment [Line Items]
Net book amount	(8,536,910)		(3,948,116)
Construction work in progress
Disclosure Of Property Plant And Equipment [Line Items]
Property, plant and equipment	72,047,622	56,715,250
Additions	33,290,758	17,341,364
Manufacturing and Energy Supply Chains Grant	(18,677,454)
Disposals	(151,880)
Transfers	(530,013)	(2,028,864)
Exchange differences	(16,448)	19,872
Property, plant and equipment	85,962,585	$ 72,047,622
Net book amount	85,962,585		56,715,250
Construction work in progress | Cost
Disclosure Of Property Plant And Equipment [Line Items]
Net book amount	$ 85,962,585		$ 56,715,250

Financial Assets at Fair Valu_3

Financial Assets at Fair Value Through Profit or Loss - Summary of Financial Assets Mandatorily Measured at FVPL (Details)	Dec. 31, 2023 USD ($)
Unlisted Equity Securities
Disclosure of fair value measurement of assets [line items]
Financial assets measured at FVPL	$ 16,666,665

Financial Assets at Fair Valu_4

Financial Assets at Fair Value Through Profit or Loss - Additional Information (Details)		1 Months Ended	12 Months Ended
	Jan. 31, 2022 USD ($) shares $ / shares	Nov. 30, 2022 $ / shares	Dec. 31, 2024 USD ($)	Dec. 31, 2024 AUD ($)	Jun. 30, 2022 USD ($)	Jan. 31, 2022 AUD ($)
Disclosure of fair value measurement of assets [line items]
Loss on equity investment securities at fair value through profit or loss			$ (15,308,187)		$ (8,113,657)
Transfers out of Level 1 into Level 2 of fair value hierarchy, entity's own equity instruments				$ 0
Transfers out of Level 2 into Level 1 of fair value hierarchy, entity's own equity instruments				0
Transfers into Level 3 of fair value hierarchy, entity's own equity instruments				0
Transfers out of Level 3 of fair value hierarchy, entity's own equity instruments				$ 0
KORE Power | Securities Purchase Agreement
Disclosure of fair value measurement of assets [line items]
Common stock shares acquired | shares	3,333,333
Issue Price | $ / shares	$ 7.5	$ 5
Percentage of common equity acquired	5%		3.70%	3.70%
Fair value of consideration transferred	$ 25,000,000					$ 35,131,550
Percentage of consideration settled in cash	50%
Percentage of consideration settled in shares	50%
Issuance of ordinary shares | shares	1,974,723

Financial Assets at Fair Valu_5

Financial Assets at Fair Value Through Profit or Loss - Summary of Changes in Level 3 Instruments (Details) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Jun. 30, 2022
Disclosure of fair value measurement of assets [line items]
Balance at the beginning of the year	$ 183,936,275	$ 226,056,269	$ 138,449,834
Changes during the period:
Loss on equity investment securities at fair value through profit or loss	(15,308,187)		(7,937,633)
Balance at the end of the year	137,590,257	183,936,275	$ 251,133,478
Level 3
Disclosure of fair value measurement of assets [line items]
Balance at the beginning of the year	16,666,665	16,490,271
Changes during the period:
Loss on equity investment securities at fair value through profit or loss	(15,308,187)	0
Exchange difference	(1,358,478)	176,394
Balance at the end of the year	$ 0	$ 16,666,665

Exploration and Evaluation As_3

Exploration and Evaluation Assets - Schedule of Exploration and Evaluation Assets (Details)	12 Months Ended
	Dec. 31, 2023 USD ($)
Disclosure Of Exploration And Evaluation Assets [Abstract]
Exploration and evaluation assets - at cost	$ 0
Balance at the beginning of the period	2,212,013
Expenditure incurred during the period	16,691
Exchange differences	(8,752)
Assets classified as held for sale	(2,219,952)
Balance at the end of the period	$ 0

Exploration and Evaluation As_4

Exploration and Evaluation Assets - Schedule of Assets Classified as Held for Sale (Details)	12 Months Ended
	Dec. 31, 2024 USD ($)
Disclosure of Assets Classified as Held for Sale [Abstract]
Assets classified as held for sale	$ 2,044,673
Balance at the beginning of the period	2,219,952
Expenditure incurred during the period	36,604
Exchange differences	(211,883)
Balance at the end of the period	$ 2,044,673

Intangible Assets - Summary of

Intangible Assets - Summary of Intangible Assets (Details) - USD ($)	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Disclosure Of Intangible Assets [Line Items]
Goodwill	$ 11,975,024	$ 11,975,024	$ 11,975,024
Total Intangible assets	$ 11,975,024	11,990,309	12,173,710
Technology
Disclosure Of Intangible Assets [Line Items]
Intangible assets		$ 15,285	$ 198,686

Intangible Assets - Summary o_2

Intangible Assets - Summary of Reconciliation of Intangible Assets (Details) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Disclosure Of Intangible Assets [Line Items]
Goodwill, Beginning Balance	$ 11,975,024	$ 11,975,024
Goodwill, Ending Balance	11,975,024	11,975,024
Total, Beginning Balance	11,990,309	12,173,710
Total, Amortisation	(15,285)	(183,401)
Total, Ending Balance	11,975,024	11,990,309
Technology
Disclosure Of Intangible Assets [Line Items]
Intangible assets, Beginning Balance	15,285	198,686
Intangible assets, Amortisation	$ (15,285)	(183,401)
Ending Balance		$ 15,285

Trade and Other Payables - Summ

Trade and Other Payables - Summary of Unsecured Liabilities (Details) - USD ($)	Dec. 31, 2024	Dec. 31, 2023
Trade and other payables [abstract]
Trade payables	$ 998,258	$ 1,342,369
Sundry payables and accrued expenses	7,171,820	4,102,800
Employee entitlements	354,063	314,892
Total	$ 8,524,141	$ 5,760,061

Contract Liabilities - Summary

Contract Liabilities - Summary of Grant Funding (Detail) - USD ($)	Dec. 31, 2024	Dec. 31, 2023
Contract liabilities [abstract]
Current - contract liabilities	$ 126,056	$ 285,221
Non-current - other liabilities	3,000,000	3,000,000
Total	$ 3,126,056	$ 3,285,221

Contract Liabilities - Addition

Contract Liabilities - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2021
Contract liabilities [abstract]
Grant received		$ 0	$ 3,000,000
Conditions on government assistance	The grant funds are conditional upon the Company creating, filling, and maintaining 290 jobs in the State of Tennessee.  The grant becomes fully earned once 90% of the performance target is achieved by March 2026, and is repayable in full if a minimum of 50% of the performance target is not achieved by March 2026. The grant is proportionately repayable between 50% and 90% of the performance target being achieved.  Accordingly, as at December 31, 2024, and 2023, the full amount of the grant has been deferred and classified as a contract liability and will be either released to income (in full or proportionately) or repayable (in full or proportionately) depending on the performance target achieved by March 2026. Income has not been recognized at December 31, 2024, as the Company can not reliably measure compliance of the conditions attaching to the grant with “reasonable assurance” to determine the grant has become receivable.

Leases - Summary of Leases Reco

Leases - Summary of Leases Recognized in Balance Sheet (Details) - USD ($)	Dec. 31, 2024	Dec. 31, 2023
Disclosure of quantitative information about right-of-use assets [line items]
Right-of-use assets	$ 6,356,771	$ 4,484,521
Lease Liabilities [Abstract]
Current lease liabilities	522,297	345,933
Non-current lease liabilities	6,488,119	4,479,627
Lease liabilities	7,010,416	4,825,560
Buildings
Disclosure of quantitative information about right-of-use assets [line items]
Right-of-use assets	$ 6,356,771	$ 4,484,521

Leases - Summary of Lease Amoun

Leases - Summary of Lease Amounts Recognized in Profit or Loss and Other Comprehensive Income (Details) - USD ($)	6 Months Ended	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2024	Dec. 31, 2023	Jun. 30, 2022
Disclosure of quantitative information about right-of-use assets [line items]
Interest expense	$ 111,593	$ 276,728	$ 212,354	$ 233,229
Buildings
Disclosure of quantitative information about right-of-use assets [line items]
Depreciation of right-of-use assets	$ 215,257	$ 618,651	$ 430,514	$ 430,514

Leases - Additional Information

Leases - Additional Information (Details) - USD ($)	1 Months Ended	12 Months Ended
	Mar. 31, 2024	Dec. 31, 2024	Dec. 31, 2023
Presentation of leases for lessee [abstract]
Extended lease term	5 years
Allocation of revised lease payments		$ 1,935,600
Short-term lease		0	$ 0
Total cash outflow for leases		$ 573,600	$ 565,732

Borrowings - Summary of Borrowi

Borrowings - Summary of Borrowings (Details) - USD ($)	Dec. 31, 2024		Jun. 30, 2024	Dec. 31, 2023
Disclosure of detailed information about borrowings [abstract]
Secured bank loans, Current	$ 1,033,578			$ 1,167,301
Secured bank loans, Non-Current	31,650,244			33,044,170
Secured bank loans, Total	32,683,822			34,211,471
Total secured borrowings, Current	1,033,578			1,167,301
Total secured borrowings, Non-Current	31,650,244			33,044,170
Total secured borrowings	32,683,822			34,211,471
Unsecured convertible notes, Current	30,360,575			28,554,210
Unsecured convertible notes, Total	30,360,575			28,554,210
Unsecured other loans, Current	274,657			174,388
Unsecured other loans, Non-Current	1,125,027			1,622,121
Unsecured other loans, Total	1,399,684			1,796,509
Total unsecured borrowings, Current	30,635,232			28,728,598
Total unsecured borrowings, Non-Current	1,125,027			1,622,121
Total unsecured borrowings	31,760,259			30,350,719
Total borrowings, Current	31,668,810		$ 30,856,176	29,895,899
Total borrowings, Non-Current	32,775,271			34,666,291
Total borrowings	$ 64,444,081	[1]		$ 64,562,190
[1] Includes convertible notes (note 22) with terms that allow for redemption in cash at maturity (June 2028) at the option of the holder.

Borrowings - Additional Informa

Borrowings - Additional Information (Details)

1 Months Ended

6 Months Ended

12 Months Ended

Jan. 24, 2022 CAD ($)

Jul. 28, 2021 USD ($)

May 28, 2021 CAD ($)

Dec. 01, 2017 CAD ($)

Mar. 31, 2023 USD ($)

Jul. 31, 2021 CAD ($)

Oct. 31, 2018 CAD ($)

Dec. 31, 2017 CAD ($)

Dec. 31, 2022 USD ($)

Dec. 31, 2024 USD ($)

Dec. 31, 2023 USD ($)

Jun. 30, 2022 USD ($)

Dec. 31, 2021 USD ($)

Jun. 30, 2019 USD ($)

Jun. 30, 2018 USD ($)

Dec. 31, 2024 CAD ($)

Dec. 31, 2023 CAD ($)

Disclosure of detailed information about borrowings [line items]

Remaining undrawn amount of loan facility

$ 62,000

Liabilities

88,505,284

$ 79,406,768

Borrowings

64,444,081

[1]

64,562,190

Net assets

137,590,257

183,936,275

Land and buildings purchased

$ 24,497,314

29,879,456

19,182,131

$ 83,688,360

Freehold Land and Buildings | Bedford Canada

Disclosure of detailed information about borrowings [line items]

Land and buildings purchased

$ 1,225,195

Commercial Land and Buildings | Chattanooga, USA

Disclosure of detailed information about borrowings [line items]

Total amount available under facility

$ 30,100,000

Liabilities

$ 27,691,183

Carrying amount of asset pledged as collateral

$ 39,202,599

38,174,386

Loan facility, frequency of periodic payment

monthly

Loan facility periodic payment commencement month and year

2021-09

Loan facility periodic payment end month and year

2031-08

Minimum liquidity

$ 3,100,000

Debt service coverage ratio

1.2

1.2

Land and buildings purchased

$ 42,600,000

Commercial Land and Buildings | Chattanooga, USA | Bottom of Range

Disclosure of detailed information about borrowings [line items]

Net assets

$ 30,100,000

Equipment

Disclosure of detailed information about borrowings [line items]

Total amount available under facility

$ 50,000

Liabilities

213,785

$ 307,600

Loan facility, frequency of periodic payment

monthly

Loan facility periodic payment commencement month and year

2023-12

Loan facility periodic payment end month and year

2034-01

Battery Technology Solutions Business | Commercial Land and Buildings | Nova Scotia, Canada

Disclosure of detailed information about borrowings [line items]

Contribution agreement

$ 250,000

Consulting Services Business | Commercial Land and Buildings

Disclosure of detailed information about borrowings [line items]

Total amount available under facility

$ 2,680,000

Liabilities

1,601,796

2,304,712

Carrying amount of asset pledged as collateral

2,145,772

2,842,406

Cathode Business | Commercial Land and Buildings | Nova Scotia, Canada

Disclosure of detailed information about borrowings [line items]

Total amount available under facility

$ 4,985,000

Liabilities

3,177,058

4,571,428

Borrowings

$ 4,923,000

Carrying amount of asset pledged as collateral

$ 3,284,556

$ 3,329,187

Loan facility, frequency of periodic payment

monthly

Loan facility periodic payment commencement month and year

2022-12

Loan facility periodic payment end month and year

2048-01

Land and buildings purchased

$ 3,550,000

Cathode Business | Equipment

Disclosure of detailed information about borrowings [line items]

Contribution agreement

$ 886,000

$ 1,000,000

ACOA, December 2017 loan

Disclosure of detailed information about borrowings [line items]

Amount drawn down from facility

500,000

Contribution agreement

$ 500,000

Day one gain on loan

$ 100,152

ACOA, October 2018 loan

Disclosure of detailed information about borrowings [line items]

Amount drawn down from facility

$ 500,000

Contribution agreement

$ 500,000

Day one gain on loan

$ 219,557

$ 114,106

[1] Includes convertible notes (note 22) with terms that allow for redemption in cash at maturity (June 2028) at the option of the holder.

Unsecured Convertible Loan No_3

Unsecured Convertible Loan Notes and Derivative Financial Instruments - Additional Information (Details)		12 Months Ended
	Jun. 21, 2023 USD ($) $ / shares shares	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Jun. 21, 2023 $ / shares
Disclosure of detailed information about financial instruments [line items]
Number of shares issued | shares	45,221,586
Percentage of convertible notes	4%
Convertible notes maturity date	Jun. 07, 2028
Par value per share | $ / shares				$ 1
Face value of notes issued	$ 30,000,000
Conversion price of per ordinary share | $ / shares	$ 1.60
Unpaid interest		$ 0
Decrease in the fair value of the derivative		900,000
Borrowings		32,775,271	$ 34,666,291
Current liabilities		46,241,894	37,260,850
Non-current liabilities		$ 42,263,390	$ 42,145,918

Unsecured Convertible Loan No_4

Unsecured Convertible Loan Notes and Derivative Financial Instruments - Summary of Adoption of IAS in the Balance Sheet (Details) - USD ($)	Dec. 31, 2024	Jun. 30, 2024	Dec. 31, 2023
Current liabilities
Borrowings	$ 31,668,810	$ 30,856,176	$ 29,895,899
Derivative financial instruments	5,368,624	$ 426,553	866,278
Total current liabilities	46,241,894		37,260,850
Non-current liabilities
Borrowings	32,775,271		34,666,291
Total non-current liabilities	$ 42,263,390		42,145,918
As Presented
Current liabilities
Borrowings			1,341,689
Derivative financial instruments			0
Total current liabilities			1,341,689
Non-current liabilities
Borrowings			63,220,501
Derivative financial instruments			866,278
Total non-current liabilities			64,086,779
Reclassification
Current liabilities
Borrowings			28,554,210
Derivative financial instruments			866,278
Total current liabilities			29,420,488
Non-current liabilities
Borrowings			(28,554,210)
Derivative financial instruments			(866,278)
Total non-current liabilities			(29,420,488)
Reclassified
Current liabilities
Borrowings			29,895,899
Derivative financial instruments			866,278
Total current liabilities			30,762,177
Non-current liabilities
Borrowings			34,666,291
Derivative financial instruments			0
Total non-current liabilities			$ 34,666,291

Unsecured Convertible Loan No_5

Unsecured Convertible Loan Notes and Derivative Financial Instruments - Convertible Notes Presented in Consolidated Balance Sheet (Details) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Opening balance	$ 34,666,291
Opening balance	29,895,899
Fair value gain	(34,568,333)	$ (47,977,520)
Ending Balance	32,775,271	34,666,291
Ending Balance	31,668,810	29,895,899
Borrowings
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Opening balance	28,554,210	0
Initial recognition	0	27,640,052
Costs of issue of convertible notes	0	(43,614)
Interest expense	1,806,365	957,772
Fair value gain	1,587,931	1,428,959
Ending Balance	30,360,575	28,554,210
Derivative Financial Instruments
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Opening balance	866,278	0
Initial recognition	0	2,359,948
Costs of issue of convertible notes	0	(3,724)
Fair value gain	4,536,546	(1,525,320)
Effect of foreign currency movements	(34,200)	35,374
Ending Balance	$ 5,368,624	$ 866,278

Unsecured Convertible Loan No_6

Unsecured Convertible Loan Notes and Derivative Financial Instruments - Summary of Convertible Notes Presented in Consolidated Balance Sheet (Parenthetical) (Details)	12 Months Ended
	Dec. 31, 2024
Disclosure of detailed information about financial instruments [abstract]
Percentage of interest expense by applying the effect interest rate to the liability component	6.564%

Contributed Equity - Additional

Contributed Equity - Additional Information (Details) - $ / shares	Dec. 31, 2024	Dec. 31, 2023	Jun. 21, 2023	Jan. 01, 2023
Disclosure of classes of share capital [abstract]
Par value per share			$ 1
Number of shares issued and fully paid	567,941,993	488,733,461		486,774,622

Contributed Equity - Schedule o

Contributed Equity - Schedule of Share Capital (Details) - USD ($)	Dec. 31, 2024	Dec. 31, 2023	Jan. 01, 2023
Disclosure of classes of share capital [abstract]
Ordinary shares Fully paid, Shares	567,941,993	488,733,461	486,774,622
Ordinary shares Fully paid	$ 367,537,075	$ 338,425,286	$ 338,108,198

Contributed Equity - Ordinary S

Contributed Equity - Ordinary Share Capital (Details)																																						12 Months Ended
	Dec. 12, 2024 shares	Dec. 02, 2024 USD ($) $ / shares shares	Nov. 12, 2024 shares	Nov. 01, 2024 shares	Oct. 02, 2024 shares	Sep. 24, 2024 shares	Sep. 19, 2024 shares	Sep. 04, 2024 shares	Sep. 02, 2024 shares	Jul. 29, 2024 shares	Jul. 16, 2024 USD ($) $ / shares shares	Jul. 12, 2024 shares	Jun. 28, 2024 shares	Jun. 13, 2024 shares	Jun. 04, 2024 shares	May 02, 2024 shares	Apr. 19, 2024 shares	Apr. 18, 2024 USD ($) $ / shares shares	Mar. 14, 2024 shares	Feb. 15, 2024 shares	Jan. 19, 2024 shares	Dec. 14, 2023 shares	Dec. 08, 2023 shares	Nov. 28, 2023 shares	Nov. 21, 2023 shares	Oct. 24, 2023 USD ($) $ / shares shares	Oct. 20, 2023 shares	Sep. 01, 2023 shares	Aug. 29, 2023 USD ($) $ / shares shares	Aug. 21, 2023 shares	Aug. 01, 2023 shares	Jul. 21, 2023 shares	Jun. 29, 2023 shares	May 01, 2023 shares	Apr. 12, 2023 shares	Mar. 23, 2023 USD ($) $ / shares shares	Mar. 15, 2023 USD ($) $ / shares shares	Dec. 31, 2024 USD ($) shares	Dec. 31, 2023 USD ($) shares	Jan. 01, 2023 USD ($) shares
Disclosure Of Classes Of Share Capital [Line Items]
Number of Shares, Balance																																						567,941,993	488,733,461	486,774,622
Ordinary shares Fully paid | $																																						$ 367,537,075	$ 338,425,286	$ 338,108,198
Share issue costs | $																																						$ (1,312,504)	$ (12,433)
Exercise of Options
Disclosure Of Classes Of Share Capital [Line Items]
Number of Shares											3,415,759							33,334								150,000			500,000							66,666	33,333
Issue Price | $ / shares											$ 0.5							$ 0.5								$ 0.55			$ 0.7							$ 0.9	$ 0.5
Ordinary shares Fully paid | $											$ 1,605,677							$ 10,727								$ 52,439			$ 225,729							$ 40,273	$ 11,080
Placement Shares
Disclosure Of Classes Of Share Capital [Line Items]
Number of Shares		74,064,647
Issue Price | $ / shares		$ 0.6
Ordinary shares Fully paid | $		$ 28,807,889
Exercise of Performance Rights
Disclosure Of Classes Of Share Capital [Line Items]
Number of Shares	113,029		7,522	7,321	2,479	33,193	46,005	618,129	250,000	16,684		297,885	15,409	32,042	8,987	35,490	9,041		3,841	7,130	125,200	92,000	21,563	2,178	7,526		18,174	250,000		4,312	6,002	314,276	39,515	23,356	1,910		8,309
Exercise of Share Rights
Disclosure Of Classes Of Share Capital [Line Items]
Number of Shares									65,405																				419,719

Contributed Equity - Ordinary_2

Contributed Equity - Ordinary Share Capital (Parenthetical) (Details) - $ / shares																																						12 Months Ended
	Dec. 12, 2024	Dec. 02, 2024	Nov. 12, 2024	Nov. 01, 2024	Oct. 02, 2024	Sep. 24, 2024	Sep. 19, 2024	Sep. 04, 2024	Sep. 02, 2024	Jul. 29, 2024	Jul. 16, 2024	Jul. 12, 2024	Jun. 28, 2024	Jun. 13, 2024	Jun. 04, 2024	May 02, 2024	Apr. 19, 2024	Apr. 18, 2024	Mar. 14, 2024	Feb. 15, 2024	Jan. 19, 2024	Dec. 14, 2023	Dec. 08, 2023	Nov. 28, 2023	Nov. 21, 2023	Oct. 24, 2023	Oct. 20, 2023	Sep. 01, 2023	Aug. 29, 2023	Aug. 21, 2023	Aug. 01, 2023	Jul. 21, 2023	Jun. 29, 2023	May 01, 2023	Apr. 12, 2023	Mar. 23, 2023	Mar. 15, 2023	Dec. 31, 2024	Dec. 31, 2023	Nov. 30, 2024	Jun. 21, 2023	Jul. 07, 2022
Disclosure Of Classes Of Share Capital [Line Items]
Number of shares issued																																									45,221,586
Institutional Placement | Ordinary Shares
Disclosure Of Classes Of Share Capital [Line Items]
Number of shares issued																																								74,100,000
Placement Shares
Disclosure Of Classes Of Share Capital [Line Items]
Issue Price		$ 0.6
Number of Shares		74,064,647
Exercise of Options
Disclosure Of Classes Of Share Capital [Line Items]
Issue Price											$ 0.5							$ 0.5								$ 0.55			$ 0.7							$ 0.9	$ 0.5
Number of Shares											3,415,759							33,334								150,000			500,000							66,666	33,333
Number of shares issued											12,000,000
Exercise of Share Rights
Disclosure Of Classes Of Share Capital [Line Items]
Number of Shares									65,405																				419,719
Number of shares issued																													419,719													302,539
Exercise of Performance Rights
Disclosure Of Classes Of Share Capital [Line Items]
Number of Shares	113,029		7,522	7,321	2,479	33,193	46,005	618,129	250,000	16,684		297,885	15,409	32,042	8,987	35,490	9,041		3,841	7,130	125,200	92,000	21,563	2,178	7,526		18,174	250,000		4,312	6,002	314,276	39,515	23,356	1,910		8,309
Exercise of Performance Rights | Nick Liveris
Disclosure Of Classes Of Share Capital [Line Items]
Number of vested performance rights																																						359,422
Exercise of Performance Rights | Chris Burns
Disclosure Of Classes Of Share Capital [Line Items]
Number of vested performance rights																																						759,931
Exercise of Performance Rights | Non-KMP
Disclosure Of Classes Of Share Capital [Line Items]
Number of vested performance rights																																						110,686	699,961
Exercise of Performance Rights | KMP
Disclosure Of Classes Of Share Capital [Line Items]
Number of vested performance rights																																						1,518,701
Exercise of Performance Rights | Rashda Buttar
Disclosure Of Classes Of Share Capital [Line Items]
Number of vested performance rights																																						295,479	89,160
Exercise of Performance Rights | Darcy MacDougald
Disclosure Of Classes Of Share Capital [Line Items]
Number of vested performance rights																																						103,869

Reserves - Summary of Reserves

Reserves - Summary of Reserves (Details) - USD ($)	6 Months Ended	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2024	Dec. 31, 2023	Jun. 30, 2022
Disclosure of reserves within equity [line items]
Share-based payment reserve		$ 45,642,323	$ 42,462,654
Foreign currency translation reserve		(20,442,256)	(16,626,921)
Convertible loan note reserve		4,523,095	4,523,095
Reserves		29,723,162	30,358,828
Foreign currency translation reserve		(20,442,256)	(16,626,918)
Balance at the beginning of the year	$ 251,133,478	183,936,275	226,056,269	$ 138,449,834
Equity settled share-based payments	5,135,987	3,179,670	5,301,155	12,028,757
Balance at the end of the year	226,056,269	137,590,257	183,936,275	$ 251,133,478
Share-based Payment Reserve
Disclosure of reserves within equity [line items]
Balance at the beginning of the year		42,462,654	37,161,498
Performance rights cash-settled in current period		(603,932)	(296,432)
Cashless exercise of options		(1,605,677)
Equity settled share-based payments		5,523,560	5,621,960
Exchange differences		(134,282)	(24,372)
Balance at the end of the year	37,161,498	45,642,323	42,462,654
Foreign Currency Translation Reserve
Disclosure of reserves within equity [line items]
Balance at the beginning of the year		(16,626,918)	(15,136,944)
Exchange differences on translation of foreign operations		(3,813,897)	(1,489,974)
Balance at the end of the year	$ (15,136,944)	$ (20,440,815)	$ (16,626,918)

Operating Segments - Schedule o

Operating Segments - Schedule of Segment Performance (Details) - USD ($)		6 Months Ended	12 Months Ended
		Dec. 31, 2022	Dec. 31, 2024	Dec. 31, 2023	Jun. 30, 2022
Disclosure Of Operating Segments [Line Items]
Interest income		$ 19,416	$ 1,370,929	$ 1,611,128	$ 8,314
Product manufacturing and operating costs (exclusive of depreciation presented separately)		(1,319,682)	(1,770,517)	(2,817,269)	(1,724,625)
Administrative and other expenses		(11,481,647)	(19,919,292)	(18,863,896)	(12,591,709)
Nasdaq listing related expenses					(4,226,062)
Loss on equity investment securities at fair value through profit or loss			(15,308,187)		(7,937,633)
Depreciation and amortization expenses		(2,572,019)	(4,568,969)	(4,740,135)	(4,214,617)
Research and development costs		(2,020,656)	(4,849,571)	(5,750,574)	(5,102,824)
Share based compensation		(5,354,429)	(5,523,560)	(5,621,959)	(14,530,749)
Employee benefits expense		(8,549,850)	(23,632,917)	(20,339,880)	(12,736,589)
Borrowing costs		(943,421)	(3,566,998)	(2,864,102)	(1,512,548)
(Loss)/gain on fair value of derivative financial instruments			(4,536,546)	1,525,320
Operating Segments
Disclosure Of Operating Segments [Line Items]
Segment revenue	[1]				1,340
Other income			10,063	24,550
Other expense		(1,360,308)	(1,175,499)	(1,359,866)	(5,195,797)
Aggregated Segment net loss before tax		(16,161,445)	(41,746,386)	(35,924,854)	(21,182,366)
Interest income		19,416	1,370,930	1,611,128	8,314
Total income		(27,864,014)	(74,724,454)	(46,448,210)	(51,860,307)
Administrative and other expenses		(7,072,914)	(5,986,817)	(6,518,961)	(6,704,291)
Nasdaq listing related expenses					(4,226,062)
Loss on equity investment securities at fair value through profit or loss			(15,308,187)		(8,113,657)
Share based compensation		(5,354,429)	(5,523,560)	(5,621,969)	(14,530,749)
Employee benefits expense		(654,950)	(52,223)	(1,922,438)	(2,308,302)
Borrowing costs			(1,776,230)	(980,852)	(331)
(Loss)/gain on fair value of derivative financial instruments			(4,536,546)	1,525,320
Operating Segments | Battery Materials
Disclosure Of Operating Segments [Line Items]
Other income		35,154	959,122	37,360	385,482
Total income		35,154	959,122	37,360	385,482
Product manufacturing and operating costs (exclusive of depreciation presented separately)			0		(15,255)
Administrative and other expenses		(3,562,171)	(11,679,814)	(9,658,074)	(4,033,109)
Depreciation and amortization expenses		(2,204,862)	(3,562,475)	(3,798,626)	(3,436,998)
Research and development costs		(1,729,910)	(4,127,248)	(5,458,721)	(3,800,667)
Employee benefits expense		(4,531,566)	(15,106,300)	(10,196,303)	(5,640,607)
Borrowing costs		(723,225)	(1,445,374)	(1,408,421)	(1,264,020)
Segment net loss before tax		(12,716,580)	(34,962,089)	(30,482,785)	(17,805,174)
Operating Segments | Battery Technology
Disclosure Of Operating Segments [Line Items]
Segment revenue	[1]	2,702,276	5,854,424	8,054,529	6,099,815
Other income		260,536	1,933,064	1,936,862	1,202,324
Total income		2,962,812	7,787,488	9,991,391	7,302,139
Product manufacturing and operating costs (exclusive of depreciation presented separately)		(1,319,682)	(1,770,517)	(2,817,269)	(1,709,369)
Administrative and other expenses		(846,562)	(2,252,663)	(2,686,861)	(1,854,309)
Depreciation and amortization expenses		(367,157)	(1,006,494)	(941,509)	(777,619)
Research and development costs		(290,746)	(722,322)	(291,853)	(1,302,157)
Employee benefits expense		(3,363,334)	(8,474,395)	(8,221,139)	(4,787,680)
Borrowing costs		(220,196)	(345,394)	(474,829)	(248,197)
Segment net loss before tax		$ (3,444,865)	$ (6,784,297)	$ (5,442,069)	$ (3,377,192)
[1] See Note 3 - Revenue , for segment revenue by product line for the year ended December 31, 2024 and 2023, six months ended December 31, 2022, and year ended June 30, 2022.

Operating Segments - Schedule_2

Operating Segments - Schedule of Segment Assets (Details) - USD ($)	Dec. 31, 2024	Dec. 31, 2023
Disclosure Of Operating Segments [Line Items]
Segment assets	$ 226,095,541	$ 263,343,043
Operating Segments | Battery Materials
Disclosure Of Operating Segments [Line Items]
Segment assets	169,314,731	147,476,907
Operating Segments | Battery Technology
Disclosure Of Operating Segments [Line Items]
Segment assets	15,235,436	20,367,755
Operating Segments | Graphite Exploration
Disclosure Of Operating Segments [Line Items]
Segment assets	2,049,907	2,225,693
Unallocated
Disclosure Of Operating Segments [Line Items]
Segment assets	$ 39,495,467	$ 93,272,688

Operating Segments - Schedule_3

Operating Segments - Schedule of Segment Liabilities (Details) - USD ($)	Dec. 31, 2024	Dec. 31, 2023
Disclosure Of Operating Segments [Line Items]
Segment liabilities	$ 88,505,284	$ 79,406,768
Operating Segments | Battery Materials
Disclosure Of Operating Segments [Line Items]
Segment liabilities	44,383,959	69,102,062
Operating Segments | Battery Technology
Disclosure Of Operating Segments [Line Items]
Segment liabilities	8,085,044	9,874,301
Unallocated
Disclosure Of Operating Segments [Line Items]
Segment liabilities	$ 36,036,281	$ 430,405

Operating Segments - Additional

Operating Segments - Additional Information (Details)	6 Months Ended	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2024	Dec. 31, 2023	Jun. 30, 2022
Customer One | Consulting Services Segment
Disclosure of operating segments [line items]
Percentage of entity's revenue	27%	13%	17%	15%
Customer One | Hardware Segment
Disclosure of operating segments [line items]
Percentage of entity's revenue	25%	16%
Customer One | Hardware and Consulting Services Segments
Disclosure of operating segments [line items]
Percentage of entity's revenue				11%
Customer Two | Consulting Services Segment
Disclosure of operating segments [line items]
Percentage of entity's revenue	22%	12%	15%	12%
Customer Two | Hardware Segment
Disclosure of operating segments [line items]
Percentage of entity's revenue	12%
Customer Three | Consulting Services Segment
Disclosure of operating segments [line items]
Percentage of entity's revenue	11%
North America
Disclosure of operating segments [line items]
Percentage of entity's revenue	85%	71%	82%	79%
Asia
Disclosure of operating segments [line items]
Percentage of entity's revenue	11%	22%	8%	17%
Australia
Disclosure of operating segments [line items]
Percentage of entity's revenue	3%	3%	6%
Europe
Disclosure of operating segments [line items]
Percentage of entity's revenue	1%	4%	4%	4%

Cash Flow Information - Summary

Cash Flow Information - Summary of Reconciliation of Profit / Loss to Net Cash Outflow from Operating Activities (Details) - USD ($)	6 Months Ended	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2024	Dec. 31, 2023	Jun. 30, 2022
Cash Flow Information [Abstract]
Net loss	$ (27,864,014)	$ (74,822,141)	$ (46,248,261)	$ (51,860,307)
Adjustments for
Share based compensation	5,357,063	5,523,560	5,620,643	14,680,945
Borrowing costs	44,960	1,825,132	983,833	46,603
Fixed assets written off		103,299
Loss on sale of fixed assets	33,485
Software written off	96,596
Fair value movement in derivative (gain) / loss		4,536,546	(1,512,859)
Loss on equity investment securities at fair value through profit or loss		15,308,187		7,937,633
Impairment expense		0
Foreign exchange (gain) / loss	(1,368,856)	(512,273)	(137,781)	(5,144,766)
Depreciation & amortization expense	2,572,018	4,568,969	4,739,719	4,214,620
Government incentives				(219,557)
Change in operating assets and liabilities:
Decrease/(increase) in other trade receivables	232,354	1,595,928	(567,851)	(991,503)
Decrease /(increase) in inventories	(1,383,644)	455,643	1,202,967	166,178
(Increase)/Decrease in other operating assets	2,432,642	(1,530,827)	629,315	(3,543,910)
(Increase)/decrease in deferred tax assets		85,121	(200,992)
Increase/(decrease) in trade creditors	1,340,692	1,415,363	(1,368,063)	(90,690)
Increase in income taxes payable			107,458
Decrease/(increase) in other operating liabilities	(359,867)	1,029,724	523,449	5,575,399
Net cash outflow from operating activities	$ (18,866,571)	$ (40,417,769)	$ (36,228,423)	$ (29,229,355)

Cash Flow Information - Summa_2

Cash Flow Information - Summary of Analysis of Net Debt and Movements in Net Debt (Details) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Jun. 30, 2024	Dec. 31, 2022	Jun. 30, 2022	Jun. 30, 2021
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Cash and cash equivalents	$ 42,557,621	$ 78,713,885		$ 99,039,172	$ 142,737,362	$ 102,601,252
Lease liability - repayable within one year	(522,297)	(345,933)
Borrowings - repayable within one year (including overdraft)	(31,668,810)	(29,895,899)	$ (30,856,176)
Lease liability - repayable after one year	(6,488,119)	(4,479,627)
Borrowings - repayable after one year	(32,775,271)	(34,666,291)
Net cash (debt)	(28,896,876)	9,326,135
Cash and cash equivalents	42,557,621	78,713,885		99,039,172	$ 142,737,362	$ 102,601,252
Gross debt - fixed interest rates	(38,770,675)	(35,176,279)
Gross debt - variable interest rates	(32,683,822)	(34,211,471)
Net cash (debt)	(28,896,876)	9,326,135
Cash flows from financing activities
Beginning Balance	9,326,135	57,697,332
Cashflows	(34,568,333)	(47,977,520)
Other non-cash movements	3,355,738	(393,677)
Ending Balance	(21,886,460)	9,326,135
Cash
Cash flows from financing activities
Beginning Balance	78,713,885	99,039,172
Cashflows	(36,156,264)	(18,653,649)
Other non-cash movements		(1,671,638)
Ending Balance	42,557,621	78,713,885
Borrowings due within 1year
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Borrowings - repayable within one year (including overdraft)	(30,360,575)	(28,554,210)		$ 0
Cash flows from financing activities
Beginning Balance	(1,687,622)	(1,438,692)
Cashflows	1,587,931	1,428,959
Other non-cash movements	(31,569,119)	(1,677,889)
Ending Balance	(31,668,810)	(1,687,622)
Borrowings
Cash flows from financing activities
Beginning Balance	(67,700,128)	(39,903,148)
Cashflows		(30,752,830)
Other non-cash movements	34,924,857	2,955,850
Ending Balance	$ (32,775,271)	$ (67,700,128)

Interests in Subsidiaries - Sum

Interests in Subsidiaries - Summary of Information About Principal Subsidiaries (Details)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
MD South Tenements Pty Ltd
Disclosure Of Significant Investments In Subsidiaries [Line Items]
Name of entity	MD South Tenements Pty Ltd
Place of business / country of incorporation	Australia
Functional Currency	AUD
Ownership interest held of the Company	100%	100%
Principal activities	Graphite exploration
Novonix Battery Technology Services Inc
Disclosure Of Significant Investments In Subsidiaries [Line Items]
Name of entity	NOVONIX Battery Technology Solutions, Inc.
Place of business / country of incorporation	Canada
Functional Currency	CAN
Ownership interest held of the Company	100%	100%
Principal activities	Battery technology services
Novonix Corp
Disclosure Of Significant Investments In Subsidiaries [Line Items]
Name of entity	NOVONIX Corp
Place of business / country of incorporation	USA
Functional Currency	USD
Ownership interest held of the Company	100%	100%
Principal activities	Investment and management
Novonix Anode Materials LLC
Disclosure Of Significant Investments In Subsidiaries [Line Items]
Name of entity	NOVONIX Anode Materials, LLC
Place of business / country of incorporation	USA
Functional Currency	USD
Ownership interest held of the Company	100%	100%
Principal activities	Battery materials development and production
NOVONIX 1029, LLC
Disclosure Of Significant Investments In Subsidiaries [Line Items]
Name of entity	NOVONIX 1029, LLC
Place of business / country of incorporation	USA
Functional Currency	USD
Ownership interest held of the Company	100%	100%
Principal activities	Real estate borrower

Share-Based Payments - Addition

Share-Based Payments - Additional Information (Details)	12 Months Ended
	Dec. 31, 2024 USD ($) shares	Dec. 31, 2023 USD ($) shares	Dec. 31, 2024 $ / shares	Dec. 31, 2023 $ / shares	Dec. 31, 2022 $ / shares
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Granted	16,287,972	4,631,721
Performance rights forfeited	5,819,922	962,688
Weighted average remaining contractual life of outstanding share options	4 years 3 months 18 days	3 years 4 months 24 days
Exercise price | $ / shares			$ 0.5	$ 0.5	$ 0.52
Number of share options awarded	0	0
Top of Range
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Exercise price | $ / shares				0.55
Bottom of Range
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Exercise price | $ / shares				$ 0.5
Performance Rights and Options
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Dividend or voting rights	The performance rights and options carry no dividend or voting rights.
Number of performance right and option convertible to ordinary share	1
Performance Rights
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Minimum level of relative TSR required	35%
Highest level of payout of relative TSR	60%
Granted	16,287,972
Number of performance right convertible to ordinary shares	1	1
Share Rights
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Dividend or voting rights	The share rights carry no dividend or voting rights.
Number of share right convertible to ordinary share	1
Granted	632,890	65,405
Performance rights forfeited		16,684
Share Rights | Non-Executive Directors
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Number of share rights convertible to ordinary shares	1	1
Share-based compensation expense recognized | $	$ 402,966	$ 31,943
Share Rights | Non-Executive Directors | Top of Range
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Reduction value of share rights received | $	110,000
Share Rights | Non-Executive Directors | Bottom of Range
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Reduction value of share rights received | $	$ 55,000

Share-Based Payments - Composit

Share-Based Payments - Composition of Share Based Payments Expense (Details) - USD ($)	6 Months Ended	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2024	Dec. 31, 2023	Jun. 30, 2022
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Share rights granted in current year	$ 444,480	$ 402,966	$ 31,943	$ 2,620,399
Share rights granted in prior year			368,039
Performance rights granted in current year	2,274,551	2,407,539	989,336	10,810,456
Performance rights granted in prior years	2,582,698	3,225,525	4,104,908	192,285
Options granted in prior years	52,700	(512,470)	127,734	907,609
Total expense from share-based payment transactions	5,354,429	5,523,560	5,621,960	14,530,749
Payments of withholding tax - Performance rights	(133,878)	(603,932)	(296,432)	(2,501,992)
Cashless exercise of options		(1,605,677)
Exchange differences	(84,564)	(134,282)	(24,373)
Movement in share-based payments reserve	$ 5,135,987	$ 3,179,669	$ 5,301,155	$ 12,028,757

Share-Based Payments - Summary

Share-Based Payments - Summary of Movements of All Share Rights Issued (Details) - shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Beginning balance	13,428,370	11,011,895
Granted	16,287,972	4,631,721
Forfeited	(5,819,922)	(962,688)
Exercised	(2,879,589)	(1,252,558)
Ending balance	21,016,831	13,428,370
Share Rights
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Beginning balance	65,405	436,403
Granted	632,890	65,405
Forfeited		(16,684)
Exercised	(65,405)	(419,719)
Ending balance	632,890	65,405
Exercisable	632,890	65,405

Share-Based Payments - Summar_2

Share-Based Payments - Summary of Share Rights (Details)	12 Months Ended
	Dec. 31, 2024 USD ($) shares	Dec. 31, 2024 $ / shares	Dec. 31, 2023 USD ($) shares
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Number	16,287,972		4,631,721
Share Rights
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Number	632,890		65,405
Share Rights | Non-Executive Directors
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Expense recognized | $	$ 402,966		$ 31,943
Share Rights | Anthony Bellas | Grant Date, One
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Grant date	Jan. 01, 2024
Number	109,749
Vesting date	Dec. 31, 2025
Fair value | $ / shares		$ 0.97
Expiry	Dec. 31, 2024
Expense recognized | $	$ 69,878
Share Rights | Sharan Burrow | Grant Date, One
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Grant date	Jan. 01, 2024
Number	84,145
Vesting date	Dec. 31, 2025
Fair value | $ / shares		0.97
Expiry	Dec. 31, 2024
Expense recognized | $	$ 53,576
Share Rights | Ron Edmonds | Grant Date, Three
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Grant date	Jan. 01, 2024
Number	109,749
Vesting date	Dec. 31, 2025
Fair value | $ / shares		0.97
Expiry	Dec. 31, 2024
Expense recognized | $	$ 69,878
Share Rights | Robert Natter | Grant Date, One
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Grant date	Jan. 01, 2024
Number	109,749
Vesting date	Dec. 31, 2025
Fair value | $ / shares		0.97
Expiry	Dec. 31, 2024
Expense recognized | $	$ 69,878
Share Rights | Jean Oelwang | Grant Date, One
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Grant date	Jan. 01, 2024
Number	109,749
Vesting date	Dec. 31, 2025
Fair value | $ / shares		0.97
Expiry	Dec. 31, 2024
Expense recognized | $	$ 69,878
Share Rights | Phillips 66 | Grant Date, One
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Grant date	Jan. 01, 2024
Number	109,749
Vesting date	Dec. 31, 2025
Fair value | $ / shares		$ 0.97
Expiry	Dec. 31, 2024
Expense recognized | $	$ 69,878

Share-Based Payments - Summar_3

Share-Based Payments - Summary of Movements of All Performance Rights Issued (Details) - shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Beginning balance	13,428,370	11,011,895
Granted	16,287,972	4,631,721
Forfeited	(5,819,922)	(962,688)
Exercised	(2,879,589)	(1,252,558)
Ending balance	21,016,831	13,428,370

Share-Based Payments - Summar_4

Share-Based Payments - Summary of Performance Rights (Details)			6 Months Ended	12 Months Ended
	Apr. 18, 2024	Apr. 05, 2023	Dec. 31, 2022 USD ($)	Dec. 31, 2024 USD ($) shares	Dec. 31, 2024 $ / shares	Dec. 31, 2023 USD ($) shares	Jun. 30, 2022 USD ($)
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Number | shares				16,287,972		4,631,721
Expense recognized | $			$ 5,354,429	$ 5,523,560		$ 5,621,959	$ 14,530,749
Performance Rights
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Number | shares				16,287,972
Expense recognized | $				$ 2,407,539
Performance Rights | Key Management Personnel | Rashda Buttar
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Expiry date	Dec. 31, 2026	Dec. 31, 2025
Performance Rights | Key Management Personnel | Rashda Buttar | Grant Date, One
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Grant date				Apr. 18, 2024
Number | shares				1,075,930
Vesting date				Dec. 31, 2026
Fair value | $ / shares					$ 0.89
Expiry date, term				Cessation of employment
Expense recognized | $				$ 210,918
Performance Rights | Key Management Personnel | Nick Liveris | Grant Date, One
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Grant date				Apr. 18, 2024
Number | shares				1,398,709
Vesting date				Dec. 31, 2026
Fair value | $ / shares					0.89
Expiry date, term				Cessation of employment
Expense recognized | $				$ 0
Performance Rights | Key Management Personnel | Chris Burns | Grant Date, One
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Grant date				Apr. 18, 2024
Number | shares				3,658,161
Vesting date				Dec. 31, 2026
Fair value | $ / shares					0.89
Expiry date, term				Cessation of employment
Expense recognized | $				$ 716,965
Performance Rights | Key Management Personnel | Robert Long
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Expiry date	Dec. 31, 2026
Performance Rights | Key Management Personnel | Robert Long | Grant Date, One
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Grant date				Oct. 08, 2024
Number | shares				1,144,130
Vesting date				Dec. 31, 2026
Fair value | $ / shares					0.7
Expiry date, term				Cessation of employment
Expense recognized | $				$ 74,794
Performance Rights | Key Management Personnel | Darcy MacDougald
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Expiry date	Dec. 31, 2026
Performance Rights | Key Management Personnel | Darcy MacDougald | Grant Date, One
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Grant date				Apr. 18, 2024
Number | shares				1,075,930
Vesting date				Dec. 31, 2026
Fair value | $ / shares					0.89
Expiry date, term				Cessation of employment
Expense recognized | $				$ 210,872
Performance Rights | Non-KMP employees
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Grant date				Jan. 31, 2024
Number | shares				5,523,634
Vesting date, tranche one				Jan. 05, 2025
Vesting date, tranche two				Jan. 05, 2026
Vesting date, tranche three				Jan. 05, 2027
Vesting date, tranche four				Jan. 05, 2028
Fair value | $ / shares					0.57
Expiry date, tranche one				Cessation of employment
Expiry date, tranche two				Cessation of employment
Expiry date, tranche three				Cessation of employment
Expiry date, tranche four				Cessation of employment
Expense recognized | $				$ 824,722
Performance Rights | Non-KMP employees
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Grant date				Feb. 16, 2024
Number | shares				722,884
Vesting date, tranche one				Jan. 05, 2025
Vesting date, tranche two				Jan. 05, 2026
Vesting date, tranche three				Jan. 05, 2027
Vesting date, tranche four				Jan. 05, 2028
Fair value | $ / shares					0.84
Expiry date, tranche one				Cessation of employment
Expense recognized | $				$ 172,554
Performance Rights | Non-KMP employees
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Grant date				Feb. 21, 2024
Number | shares				172,400
Fair value | $ / shares					0.8
Expiry date, term				Cessation of employment
Expense recognized | $				$ 43,841
Performance Rights | Non-KMP employees
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Grant date				Mar. 11, 2024
Number | shares				96,014
Fair value | $ / shares					1.01
Expiry date, term				Cessation of employment
Expense recognized | $				$ 0
Performance Rights | Non-KMP employees
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Grant date				Mar. 25, 2024
Number | shares				96,014
Fair value | $ / shares					0.87
Expiry date, term				Cessation of employment
Expense recognized | $				$ 22,195
Performance Rights | Non-KMP employees
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Grant date				Apr. 05, 2024
Number | shares				17,195
Fair value | $ / shares					1.01
Expiry date, term				Cessation of employment
Expense recognized | $				$ 7,189
Performance Rights | Non-KMP employees
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Grant date				Apr. 08, 2024
Number | shares				80,612
Vesting date, term				4 equal annual tranches commencing on the anniversary of employment
Fair value | $ / shares					0.87
Expiry date, term				Cessation of employment
Expense recognized | $				$ 17,610
Performance Rights | Non-KMP employees
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Grant date				Apr. 15, 2024
Number | shares				181,376
Fair value | $ / shares					0.83
Expiry date, term				Cessation of employment
Expense recognized | $				$ 37,030
Performance Rights | Non-KMP employees
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Grant date				Apr. 29, 2024
Number | shares				82,425
Fair value | $ / shares					0.72
Expiry date, term				Cessation of employment
Expense recognized | $				$ 13,818
Performance Rights | Non-KMP employees
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Grant date				May 27, 2024
Number | shares				58,423
Fair value | $ / shares					0.69
Expiry date, term				Cessation of employment
Expense recognized | $				$ 8,265
Performance Rights | Non-KMP employees
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Grant date				Aug. 23, 2024
Number | shares				171,834
Fair value | $ / shares					0.61
Expiry date, term				Cessation of employment
Expense recognized | $				$ 14,096
Performance Rights | Non-KMP employees
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Grant date				Oct. 16, 2024
Number | shares				93,328
Fair value | $ / shares					0.81
Expiry date, term				Cessation of employmen
Expense recognized | $				$ 6,626
Performance Rights | Non-KMP employees
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Grant date				Oct. 22, 2024
Number | shares				382,022
Fair value | $ / shares					0.84
Expiry date, term				Cessation of employment
Expense recognized | $				$ 19,097
Performance Rights | Non-KMP employees
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Grant date				Nov. 12, 2024
Number | shares				45,822
Fair value | $ / shares					0.84
Expiry date, term				Cessation of employment
Expense recognized | $				$ 2,425
Performance Rights | Non-KMP employees
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Grant date				Dec. 02, 2024
Number | shares				211,129
Fair value | $ / shares					$ 0.72
Expiry date, term				Cessation of employment
Expense recognized | $				$ 4,522

Share-Based Payments - Summar_5

Share-Based Payments - Summary of Group Net Settled in Share-Based Payments (Details)	6 Months Ended	12 Months Ended
	Dec. 31, 2022 USD ($)	Dec. 31, 2024 USD ($) shares	Dec. 31, 2023 USD ($) shares	Jun. 30, 2022 USD ($)
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Performance rights vested & exercised		2,879,589	1,252,558
Withholding obligation | $	$ 133,878	$ 603,932	$ 296,432	$ 2,501,992
Performance Rights
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Withholding obligation | $		$ 603,932
Performance Rights | Chris Burns
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Performance rights vested & exercised		759,931
Net settled shares		349,568
Withholding obligation | $		$ 196,487
Performance Rights | Rashda Buttar
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Performance rights vested & exercised		295,479
Net settled shares		165,208
Withholding obligation | $		$ 63,723
Performance Rights | Nick Liveris
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Performance rights vested & exercised		359,422
Net settled shares		192,002
Withholding obligation | $		$ 79,103
Performance Rights | Darcy MacDougald
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Performance rights vested & exercised		169,114
Net settled shares		103,869
Withholding obligation | $		$ 29,466
Performance Rights | Non-KMP employees
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Performance rights vested & exercised		1,295,643
Net settled shares		818,740
Withholding obligation | $		$ 235,153

Share-Based Payments - Summar_6

Share-Based Payments - Summary of Movements of Options Issued (Details)	12 Months Ended
	Dec. 31, 2024 shares $ / shares	Dec. 31, 2023 shares $ / shares
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Options outstanding, Beginning balance | shares	28,210,001	29,093,334
Forfeited | shares	(5,010,000)	(133,334)
Exercised | shares	(12,033,334)	(749,999)
Options outstanding, Ending balance | shares	11,166,667	28,210,001
Options exercisable | shares	666,667	12,676,667
Weighted Average Exercise Price, Beginning Balance | $ / shares	$ 0.5	$ 0.52
Weighted Average Exercise Price, Forfeited | $ / shares	0.5	1.3
Weighted Average Exercise Price, Exercised | $ / shares	0.5	0.68
Weighted Average Exercise Price, Ending Balance | $ / shares	0.5	0.5
Weighted Average Exercise Price, Exercisable | $ / shares	$ 0.5	$ 0.5

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Details)			6 Months Ended		12 Months Ended
	Apr. 18, 2024 shares	Apr. 05, 2023 shares	Jun. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2024 USD ($) shares	Dec. 31, 2023 USD ($) shares	Jun. 30, 2022 USD ($)
Disclosure of transactions between related parties [line items]
Granted					16,287,972	4,631,721
Expense recognized | $				$ 5,354,429	$ 5,523,560	$ 5,621,960	$ 14,530,749
Description of transactions with related party					There were no other related party transactions during the year ended December 31, 2024, or prior fiscal years.
Performance Rights
Disclosure of transactions between related parties [line items]
Granted					16,287,972
Number Of Performance Right Convertible To Ordinary Shares					1	1
Share Rights
Disclosure of transactions between related parties [line items]
Granted					632,890	65,405
Key Management Personnel | Zhanna Golodryga and Suresh Vaidyanathan | Performance Rights | Phillips 66 Company
Disclosure of transactions between related parties [line items]
Expense recognized | $					$ 57,500	$ 59,534
Key Management Personnel | Chris Burns, CEO | Performance Rights
Disclosure of transactions between related parties [line items]
Number Of Performance Right Convertible To Ordinary Shares	1	1
Expiry date	Dec. 31, 2026	Dec. 31, 2025
Expense recognized | $			$ 119,312		716,966
Performance rights vest subject to continued employment percentage		50%
Vesting percentage subject to achievement of performance conditions		50%
Key Management Personnel | Chris Burns, CEO | Performance Rights | Major Ordinary Share Transactions
Disclosure of transactions between related parties [line items]
Granted	3,658,161	1,604,871
Key Management Personnel | Darcy MacDougald | Performance Rights
Disclosure of transactions between related parties [line items]
Number Of Performance Right Convertible To Ordinary Shares	1
Expiry date	Dec. 31, 2026
Expense recognized | $					210,873
Key Management Personnel | Darcy MacDougald | Performance Rights | Major Ordinary Share Transactions
Disclosure of transactions between related parties [line items]
Granted	1,075,930
Key Management Personnel | Tony Bellas | Share Rights
Disclosure of transactions between related parties [line items]
Number Of Performance Right Convertible To Ordinary Shares	1
Expiry date	Dec. 31, 2024
Expense recognized | $					69,893
Key Management Personnel | Tony Bellas | Share Rights | Major Ordinary Share Transactions
Disclosure of transactions between related parties [line items]
Granted	109,749
Key Management Personnel | Robert Natter | Share Rights
Disclosure of transactions between related parties [line items]
Number Of Performance Right Convertible To Ordinary Shares	1
Expiry date	Dec. 31, 2024
Expense recognized | $					69,893
Key Management Personnel | Robert Natter | Share Rights | Major Ordinary Share Transactions
Disclosure of transactions between related parties [line items]
Granted	109,749
Key Management Personnel | Phillips 66 | Share Rights
Disclosure of transactions between related parties [line items]
Number Of Performance Right Convertible To Ordinary Shares	1
Expiry date	Dec. 31, 2024
Expense recognized | $					69,893
Key Management Personnel | Phillips 66 | Share Rights | Major Ordinary Share Transactions
Disclosure of transactions between related parties [line items]
Granted	109,749
Key Management Personnel | Jean Oelwang | Share Rights
Disclosure of transactions between related parties [line items]
Number Of Performance Right Convertible To Ordinary Shares	1
Expiry date	Dec. 31, 2024
Expense recognized | $					69,893
Key Management Personnel | Jean Oelwang | Share Rights | Major Ordinary Share Transactions
Disclosure of transactions between related parties [line items]
Granted	109,749
Key Management Personnel | Sharan Burrow | Share Rights
Disclosure of transactions between related parties [line items]
Number Of Performance Right Convertible To Ordinary Shares	1
Expiry date	Dec. 31, 2024
Expense recognized | $					53,587
Key Management Personnel | Sharan Burrow | Share Rights | Major Ordinary Share Transactions
Disclosure of transactions between related parties [line items]
Granted	84,145
Key Management Personnel | Robert Long | Performance Rights
Disclosure of transactions between related parties [line items]
Number Of Performance Right Convertible To Ordinary Shares	1
Expiry date	Dec. 31, 2026
Expense recognized | $					74,794
Key Management Personnel | Robert Long | Performance Rights | Major Ordinary Share Transactions
Disclosure of transactions between related parties [line items]
Granted	1,144,130
Key Management Personnel | Nick Liveris, CFO | Performance Rights
Disclosure of transactions between related parties [line items]
Number Of Performance Right Convertible To Ordinary Shares		1
Expiry date		Dec. 31, 2025
Expense recognized | $			40,818
Performance rights vest subject to continued employment percentage		50%
Vesting percentage subject to achievement of performance conditions		50%
Key Management Personnel | Nick Liveris, CFO | Performance Rights | Major Ordinary Share Transactions
Disclosure of transactions between related parties [line items]
Granted	1,398,709	549,035
Key Management Personnel | Rashda Buttar | Performance Rights
Disclosure of transactions between related parties [line items]
Number Of Performance Right Convertible To Ordinary Shares	1	1
Expiry date	Dec. 31, 2026	Dec. 31, 2025
Expense recognized | $			$ 18,839		210,918
Performance rights vest subject to continued employment percentage		50%
Vesting percentage subject to achievement of performance conditions		50%
Key Management Personnel | Rashda Buttar | Performance Rights | Major Ordinary Share Transactions
Disclosure of transactions between related parties [line items]
Granted	1,075,930	253,401
Key Management Personnel | Ron Edmonds One | Share Rights
Disclosure of transactions between related parties [line items]
Number Of Performance Right Convertible To Ordinary Shares	1
Expiry date	Dec. 31, 2024
Expense recognized | $					$ 69,893
Key Management Personnel | Ron Edmonds One | Share Rights | Major Ordinary Share Transactions
Disclosure of transactions between related parties [line items]
Granted	109,749

Commitments and Contingencies -

Commitments and Contingencies - Summary of Exploration Commitments (Details) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Commitments and Contingencies [Abstract]
Commitments for payments under exploration permits in existence at the reporting date but not recognised as liabilities payable	$ 470,763	$ 2,000

Commitments and Contingencies_2

Commitments and Contingencies - Summary of Significant Capital Expenditure Contracted (Details) - USD ($)	Dec. 31, 2024	Dec. 31, 2023
Commitments and Contingencies [Abstract]
Property, plant and equipment	$ 52,968,336	$ 9,321,453

Financial Risk Management - Sum

Financial Risk Management - Summary of Financial Instruments (Details) - USD ($)	Dec. 31, 2024		Dec. 31, 2023
Financial assets
Cash and cash equivalents	$ 42,557,621		$ 78,713,885
Trade and other receivables	9,610,361		4,358,833
Financial assets at fair value through profit or loss			16,666,665
Total financial assets	52,167,982		99,739,383
Financial liabilities
Trade payables	998,258		1,342,369
Lease liabilities	7,010,416		4,825,560
Borrowings	64,444,081	[1]	64,562,190
Total financial liabilities	$ 72,452,755		$ 70,730,119
[1] Includes convertible notes (note 22) with terms that allow for redemption in cash at maturity (June 2028) at the option of the holder.

Financial Risk Management - Sch

Financial Risk Management - Schedule of Exposure to Foreign Currency Risk at the end of Reporting Period (Details)	Dec. 31, 2024 USD ($)	Dec. 31, 2024 CAD ($)	Dec. 31, 2023 USD ($)
Disclosure of detailed information about financial instruments [abstract]
Cash at bank	$ 2,351,324		$ 32,748,324
Trade receivables	1,507,778		2,427,380
Trade payables	$ 50,778	$ 3,623	$ 37,283

Financial Risk Management - Add

Financial Risk Management - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Disclosure of detailed information about financial instruments [abstract]
Post tax profit loss if interest rate changed by 100 basis points	$ 98,738	$ 445,024
Undrawn borrowing facilities	$ 62,000

Financial Risk Management - S_2

Financial Risk Management - Summary of Contractual Maturities of Non-derivative Financial Liabilities (Details) - USD ($)		Dec. 31, 2024		Dec. 31, 2023
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items]
Trade and other payables		$ 8,524,141
Lease liabilities		8,559,691
Borrowings	[1]	79,141,300
Total non derivatives		96,225,132
Trade and other payables Carrying amount		8,524,141		$ 5,760,061
Lease liabilities Carrying amount		7,010,416		4,825,560
Borrowings		64,444,081	[1]	$ 64,562,190
Total non derivatives Carrying amount		79,978,638
Not Later Than Six Months
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items]
Trade and other payables		8,524,141
Lease liabilities		404,400
Borrowings	[1]	1,392,972
Total non derivatives		10,321,513
Later than six months and not later than one year [member]
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items]
Lease liabilities		404,400
Borrowings	[1]	1,390,774
Total non derivatives		1,795,174
Later than one year and not later than two years [member]
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items]
Lease liabilities		841,152
Borrowings	[1]	2,766,961
Total non derivatives		3,608,113
Later than two years and not later than five years [member]
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items]
Lease liabilities		2,730,770
Borrowings	[1]	41,890,779
Total non derivatives		44,621,549
Later than five years [member]
Disclosure Of Maturity Analysis For Nonderivative Financial Liabilities [Line Items]
Lease liabilities		4,178,969
Borrowings	[1]	31,699,815
Total non derivatives		$ 35,878,784
[1] Includes convertible notes (note 22) with terms that allow for redemption in cash at maturity (June 2028) at the option of the holder.

Events After the Reporting Da_2

Events After the Reporting Date - Additional Information (Details) $ / shares in Units, $ in Millions	2 Months Ended
	Feb. 28, 2025 AUD ($) $ / shares shares	Feb. 28, 2025 USD ($)	Dec. 31, 2024 shares	Dec. 31, 2023 shares	Jun. 21, 2023 $ / shares	Jan. 01, 2023 shares
Disclosure of non-adjusting events after reporting period [line items]
Number of shares issued and fully paid | shares			567,941,993	488,733,461		486,774,622
Share price per share | $ / shares					$ 1
Major Ordinary Share Transactions | Share Purchase Plan
Disclosure of non-adjusting events after reporting period [line items]
Number of shares issued and fully paid | shares	53,887,112
Share price per share | $ / shares	$ 0.6
Proceeds from issue of ordinary shares | $	$ 32,332,267
Major Ordinary Share Transactions | Institutional Placement
Disclosure of non-adjusting events after reporting period [line items]
Number of shares issued and fully paid | shares	12,771,392
Share price per share | $ / shares	$ 0.6
Proceeds from issue of ordinary shares | $		$ 5

Unaudited Half Year Report - Ad

Unaudited Half Year Report - Additional Information (Details) - USD ($)	Dec. 31, 2024	Jun. 30, 2024	Dec. 31, 2023
Disclosure of instruments with potential future dilutive effect not included in calculation of diluted earnings per share [line items]
Derivative financial instruments	$ 5,368,624	$ 426,553	$ 866,278
Borrowings	$ 31,668,810	30,856,176	$ 29,895,899
Convertible Note
Disclosure of instruments with potential future dilutive effect not included in calculation of diluted earnings per share [line items]
Notional amount		$ 29,452,429