Quarterly Activities Report
Sydney, Oct 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 30th September 2022 ("Quarter", "Reporting Period").
Key Highlights
- Magnis' Lithium-ion battery manufacturing facility operated by Imperium3 New York Inc ("iM3NY") commences commercial production and begins scale up phase towards Gigawatt scale. At capacity, iM3NY expects to produce ~15,000 cells per day
- Bankable Feasibility Study Update confirms strong financial and technical viability for the Nachu Graphite Project
- Positive results continue in C4V's Extra Fast Charging battery program using 7Ah (Amp hour) commercial graded cells with 20 minute-charge and 20-minute discharge. Results show only 3% loss of the initial cell capacity after approximately 2600 cycles
- Magnis' US traded OTC shares (OTC: MNSEF) has been approved by the US' Depository Trust Company for real-time electronic trading and settlement in USD making it easier and cheaper for US investors
- Construction of the Eco-village as part of the Resettlement Action Program continues to progress and is expected to be completed in the 4th quarter of 2022
- Magnis' Corporate Social Responsibility programs continue to provide much needed infrastructure for the local community
COMPANY OVERVIEW
Magnis' vertically integrated lithium-ion battery technology and materials strategy involves strategic assets, investments and partnerships in key segments of the Lithium-ion battery supply chain. The company's vision is to enable, support and accelerate the mass adoption of electric vehicles and renewable energy storage critical for the green energy transition.
The company's US based subsidiary Imperium3 New York, Inc ("iM3NY") operates a Gigawatt scale Lithium-ion battery cell manufacturing plant in Endicott, New York that plans to scale up to 38GWh of capacity by 2030. Magnis along with its joint venture and Lithiumion R&D technology partner Charge CCCV LLC ("C4V") are the major shareholders in iM3NY. iM3NY has exclusivity to C4V's IP in the US and has commercialised their patented cathode technology to produce green credentialed lithium-ion battery cells for use in both electric vehicles and battery energy storage systems. Magnis is also a consortium partner along with C4V in a greenfield battery project planned for Townsville, Australia.
Magnis' Nachu graphite project in Tanzania demonstrates a large portion of premium larger flake sizes as well as very high purity graphite concentrate. Using Nachu graphite feedstock, along with exclusively licensed anode processing IP and know-how from C4V, Magnis in conjunction with C4V have produced high-quality, high-performance anode materials through their anode materials development program in New York.
Magnis also has a minority investment stake in C4V. Apart from C4V's portfolio of Lithium-ion battery IP and innovation developed over the last decade, C4V also provides value chain solutions for Lithium-ion battery manufacturing projects around the world through cell design and engineering, cell fabrication process, qualification of raw materials supply chain and cell fabrication equipment supplier, blueprint of plants and engaging with EPC contractors.
*To view the full Quarterly Report, please visit:
https://abnnewswire.net/lnk/05LA2Q94
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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