Quarterly Activities Report
Sydney, Oct 28, 2021 AEST (ABN Newswire) - Magnis Energy Technologies Limited (
ASX:MNS) (U1P:FRA) (URNXF:OTCMKTS) subsidiary Imperium3 New York Inc. (iM3NY) Gigawatt scale Lithium-ion Battery Plant as of end of September is 33% complete and has completed several milestones as it moves closer towards semi-automated production.
There has been renewed interest in our Nachu Graphite Project with a North American Group progressing offtake discussions. The company is also in discussions with other Asian and North American groups.
Magnis secured funding of A$20 million from two US based institutions The Lind Partners and SBC Global Investment Fund to assist the company with its aggressive growth plans in the Lithium-ion battery manufacturing industry.
Magnis' corporate social responsibility programs have been in place in Tanzania for over 10 years. The company continues to engage in community support programs to help develop local infrastructure and support the local community.
An application has been lodged by the company to OTC Markets group to list on a higher tiered market for North American trading. This will enable greater access and increase visibility for investors in the US to invest in Magnis shares.
Magnis' US Lithium-ion Battery Manufacturing and Technology partners iM3NY and C4V announced further binding offtakes which include an agreement with Anglian Omega subsidiary Omega Seiki, producer of Electric Three-Wheelers in India as well as a US Government supplier.
During the quarter, Magnis announced two new hires to its management team to help bolster the firm's operations from technical expertise in Li-ion battery manufacturing and technology to corporate development and investor relations capabilities.
High quality green credentialed Lithium-ion batteries to be produced by iM3NY using C4V's patented BM-LMP Technology leads to longer battery life, faster charging and greater safety without the use of Nickel or Cobalt.
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https://abnnewswire.net/lnk/X3928E43
About Magnis Energy Technologies Limited
Magnis Energy Technologies Limited (ASX:MNS) (OTCMKTS:MNSEF) (FRA:U1P) is involved in and has strategic investments in several aspects of the electrification supply chain including manufacturing of green credentialed lithium-ion battery cells, leading edge battery technology and high quality, high performance anode materials. The company's vision is to enable, support and accelerate the green energy transition critical for the adoption of Electric Mobility and Renewable Energy Storage.
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