Quarterly Activities Report
Sydney, April 29, 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 March 2022 ("Quarter", "Reporting Period").
Highlights
- At the end of March 2022, Imperium3 New York LLC ("iM3NY"), continued to make progress towards fully automated production at its Lithium-ion battery manufacturing facility located in New York State.
- Magnis' Lithium-ion technology partner, Charge CCCV LLC ("C4V"), has produced exciting results in their Extra Fast Charging ("EFC") battery program with 7Ah (Amp hour) commercial cells.
- Post the quarter end, iM3NY closed an Intellectual Property-based Financing for US$100 million which will be used to lower the cost of capital and fast-track expansion.
- C4V recently launched their latest lithium-ion battery cell to pack technology, LiSER - a platform for lithium-ion battery cell design.
- Global engineering consulting firm Ausenco has been hired to begin updating the previous 2016 Bankable Feasibility Study for the Nachu Graphite Project.
- Construction begins on Eco-village resettlement housing village.
- Corporate Social Responsibility programs continue as the Chunyu Mtumbuni Primary School project nears completion.
- Magnis welcomes two new Directors to the board as well as Group General Counsel and Company Secretary.
- Magnis Energy Technologies Ltd joins the S&P Dow Jones ASX All-Ordinaries Index.
*To view the full Quarterly Report, please visit:
https://abnnewswire.net/lnk/91X25765
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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