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#Equip Purchase 18/2/21
Added 2 weeks ago

Equipment purchase reduces overall capex and fast tracks production at the New York Battery Plant

  • Machinery acquired from lithium Machinery acquired from lithium Machinery acquired from lithium-ion cell manufacturer A123 Systems and ion cell manufacturer A123 Systems and ion cell manufacturer A123 Systems and is being is being is being relocated from Michigan to Huron Campus relocated from Michigan to Huron Campus relocated from Michigan to Huron Campus
  • iM3NY now has the ability to produce 20 and 50amp has the ability to produce 20 and 50amp has the ability to produce 20 and 50amp hour cells to cover all major hour cells to cover all major hour cells to cover all major markets markets marketsfor lithium for lithium for lithium-ion batteries ion batteries ion batteries
  •  First production on track for late 2021 First production on track for late 2021

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#Business Model/Strategy
Added 6 months ago

MNS has been focusing on three areas of research - Batteries, Gigafactories and Graphite. The company announced success in the battery R&D on 11/9/2020

Battery development:

  • Strong IP with a world class technical and development team positions Magnis at the forefront of battery technologies.
  • Currently, over 1000 charges have been conducted, with the capacity to maintain the battery above an 80 per cent charge rate
  • The plan is to remove 500,000 metric tons of carbon dioxide every year from New York city's metro area

Gigafactory Dev:

  • Lithium-ion battery cell gigafactories are currently being primed for development in New York and Townsville (Australia).
  • Magnis has also begun its 12-month demonstration program in New York, which will see the batteries installed on New York City bus routes
  • Magnis Energy Technologies consortium received approval for feasibility study on $3b lithium-ion battery plant in Townsville.

Graphite 

The 100% owned Nachu Graphite Project in South East Tanzania can produce super jumbo flake graphite for use in anodes.

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