Quarterly Activities Report
Sydney, Jan 31, 2022 AEST (ABN Newswire) - Magnis Energy Technologies Ltd (
ASX:MNS) (U1P:FRA) (MNSEF:OTCMKTS) is pleased to present its Quarterly Activities Report and overview of operations for the period ended 31st December 2021 ("Quarter", "Reporting Period").
Highlights
- Magnis' subsidiary Imperium3 New York (iM3NY) Gigawatt scale Lithium-ion Battery Plant began its semi-autonomous phase. This is an important phase during the plant's construction as batches of cells can be produced for both marketing and due diligence purposes.
- At the end of December 2021, the iM3NY New York Plant Status was 51% complete and on track to be in fully automated production by 1H 2022.
- Magnis' Lithium-ion technology partner, C4V has produced exciting initial results in their Extra Fast Charging battery program with 7Ah (Amp hour) commercial cells using their patented BMLMP Technology. Current results show no capacity loss after 250 cycles with 15 min charge and variable discharge rates.
- The New York State Energy Research & Development Authority EFC Bus Program feedback to date has been very positive. The purpose of the program was to illustrate that C4V's Extra Fast Charging technology can be applied to State Transit Buses in New York State.
- Magnis Energy Technologies shares commenced trading on the OTCQX(R) Best Market under the ticker MNSEF. The OTCQX Best Market is the highest market tier of OTC Markets on which over 11,000 U.S. and global securities trade.
- Magnis signed a binding offtake agreement with Traxys Europe for the supply of graphite. The Traxys Group is a leading international physical commodity trader and merchant in the metals and natural resources sectors specialising in supply chain management of critical and technology minerals and metals. The agreement is for a 6-year period starting in late 2024 with a total of 600,000 tonnes of flake graphite covering all flake sizes
*To view the full Quarterly Report with tables and figures, please visit:
https://abnnewswire.net/lnk/LJ135771
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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