C4V Delivers Lithium-Ion Battery For Smart Grid Project

Magnis Resources (ASX:MNS) (“Magnis” or the “Company”) is pleased to advise that exclusive battery manufacturing partner and investee company, Charge CCCV (C4V), has achieved a major milestone in delivering its first battery towards a demonstration project that was approved under a New York State Government entity.

Magnis Resources (ASX:MNS) (“Magnis” or the “Company”) is pleased to advise that exclusive battery manufacturing partner and investee company, Charge CCCV (C4V), has achieved a major milestone in delivering its first battery towards a demonstration project that was approved under a New York State Government entity.

As detailed in the C4V press release overleaf, the project relates to the development of a software system that combines renewable energy sources with lithium-ion batteries and demand management to create a low cost Distributed Energy Resource (DER) System. This system essentially assists in the integration of renewables into the power grid by mitigating instabilities arising from short-term fluctuations in renewable energy
generation. This is of particular relevance to the New York State region, due to the large number of cloudy or overcast days that cause such short-term fluctuations.
Partners in this project include the New York State Government entities, Binghamton University, Ioxus and C4V. Magnis announced via an ASX release on 29 March 2018 that it has made a strategic investment to acquire a 10% interest in C4V and secure an exclusive agreement over selective patents, which will assist in driving the Company’s growth in the lithium-ion battery sector.

A full version of C4V’s press release is attached overleaf for convenience.

Travis Peluso
Investor Relations Director

Magnis Resources Limited
Ph: +61 411 404 814

Follow Magnis Resources on Twitter: https://twitter.com/magnisresources

Charge CCCV, C4V, today announced its first article as prototype for delivery towards a demonstration project being led by Binghamton University for New York State.

C4V brings its patented intellectual property in advanced lithium-ion materials to the New York State’s goals of developing an in-state, volume, li-ion battery production capability.

New York (NY) State is in the top five states of distributed energy installations including significant potential for additional solar photovoltaic (PV) and wind. However, the high penetration of intermittent distributed energy resource (DER) generation also introduces unprecedented levels of variation and uncertainty into the power grid. For example, the power output forecast errors of a PV system can be very high on a cloudy day. The problem becomes especially challenging in the regions with large number of cloudy days. From the utilities’ perspective, the rapid changes of behind-the-meter DER generation may incur rapid variation of voltages at feeders and substations. Integrating energy storage systems with DER generation is one of the promising solutions. However, there are two main challenges:
• The high levelized cost of energy storage system can make the storage related solution less economic attractive compared to alternatives; and
• Difficulty in coordination of many geographically distributed inverter-controlled DERs for utilities.

Purpose of this demonstration project is an inverter-centric design framework that integrates cooperative energy management algorithm and passive anti-islanding protection with high detectability and small detection delay that can support high penetration of renewable energy in distribution system. The proposed system is designed for behind-the-meter applications such as small commercial buildings or multifamily buildings. The solution integrates made-in-NY advanced Li-ion batteries and ultra-capacitors to help DER generation units achieve higher capacity value, higher efficiency, and higher reliability. The proposed system is a software-defined system that is programmable to respond to particular needs of consumers and utilities, and scalable to span a wide range of grid services.

This project proposed to develop a low-cost active DER system, which will address and resolve the challenges from both power grid side and end consumer side. In order to develop a battery for the project, C4V has been working with the supply chain that constitutes more than 40 companies which supply various components of the battery. A robust supply chain that C4V has been able to put together also brings next generation, ready to go on production floor, Cathode chemistry, Graphite Anode, Internet of Thing based Battery Management Systems and a state of the art battery manufacturing plant that is moved to New York from North Carolina.

“From the start, C4V initiated activities have shared a common vision of helping develop a domestic commercial-scale supply chain. We believe that in many cases we can now make raw material qualification process more efficient and accelerate launch cycles to only a couple of months,” said Shailesh Upreti, President of C4V. “We are also working directly with product OEMs and have several major contracts in hand internally as well as via our consortium Imperium3 New York to make this supply chain more sustainable. Delivering first article of small 1KWh size is a big milestone in terms of demonstrating viability of a commercial supply chain and its cohesive impact. C4V is now gearing toward 10KWh, 50KWh, 5000 KWh and 1-3 MWh demonstration projects in coming months”.

Funded by the New York State Energy Research and Development Authority (NYSERDA), this demonstration project supports Governor Andrew M. Cuomo’s nation-leading energy storage target of 1,500 megawatts by 2025. Achieving New York State’s ambitious target will deliver approximately $2 billion gross lifetime benefits to New Yorkers, including electric distribution system savings and reduced greenhouse gas emissions.

Other members of the team for this demonstration project include:
• Binghamton University:
o Ziang Zhang, Assistant Professor, renewable energy integration, distributed energy management;
o Ning Zhou, Assistant Professor, storage system dynamics, modelling, and health data analysis;
o N. Eva Wu, Professor, monitoring, protection, and control of PV-grid interconnections;
• NYSEG (New York State Electric & Gas) the utility partner, serves nearly 900,000 customers in New York and is one of four utility companies held by AVANGRID.
• IOXUS, Oneonta, NY, Ultra-capacitor manufacture.

About C4V: C4VTM is an intellectual property company based in Binghamton, New York with expertise and patented discoveries in Lithium-Ion battery composition and manufacture. C4V leverages its expertise in electrode design and process development to create next-generation storage materials that can be seamlessly integrated into current cell manufacturing lines.

About Binghamton University: A world-class institution, Binghamton University offers students a broad, interdisciplinary education with an international perspective and one of the most vibrant research programs in the nation. Ranked among the elite public universities in the country, Binghamton challenges students academically, not financially, in its unique, best-of-both-worlds environment.

About NYSEG: New York State Electric and Gas (NYSEG) is an electric and gas utility company owned by Avangrid that serves customers in New York. NYSEG was incorporated in 1852 as the Ithaca Gas Light Company. Throughout the end of the 19th century and the early part of the 20th century, the corporation went through mergers and acquisitions that combined about 200 utility companies under the name NYSEG. In 1975 the corporation became an 18% partner in the Niagara Mohawk Power Corporation’s Nine Mile Point nuclear plant, and in the 1980s NYSEG completed a series of hydroelectric power plants. In 2008 NYSEG became part of Iberdrola, when Iberdrola bought Energy East.
About Ioxus: Founded in 2007, Ioxus is a smart power company that designs and manufactures intelligent power and energy storage technology for transportation, alternative energy, medical, industrial and grid -connected markets. Designed and manufactured in the U.S., the company’s uSTART and X-Series products are based on patented ultracapacitor technology. Ioxus is headquartered in Oneonta, NY, with sales, service and quick-delivery inventory.

Click here to connect with Magnis Resources (ASX:MNS) for an Investor Presentation.

Source: drive.google.com

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Magnis Energy Technologies Limited (ASX:MNS) is a vertically-integrated battery technology developer, manufacturer and near-term graphite producer. The company's flagship Nachu graphite project in Tanzania is one of the world's most advanced and shovel-ready graphite projects. The project is fully-permitted, has a bankable feasibility study (BFS), a power supply agreement and a favorable port authority agreement.


Overview

Magnis Energy Technologies Limited (ASX:MNS) is a vertically-integrated battery technology developer, manufacturer and near-term graphite producer. The company's flagship Nachu graphite project in Tanzania is one of the world's most advanced and shovel-ready graphite projects. The project is fully-permitted, has a bankable feasibility study (BFS), a power supply agreement and a favorable port authority agreement.

Magnis has demonstrated that Nachu represents a viable alternative for end-users seeking a greener and lower-cost supply chain for graphite anodes in lithium-ion batteries. The project is able to produce high-performance, high-purity graphite products without the use of any chemical or thermal purification methods.

The global graphite market is expected to reach $18.7 billion by 2022. The demand for graphite in recent years has been due to a rise in clean energy initiatives, new building materials and the demand for lithium-ion batteries. Graphite is an essential component in lithium-ion batteries and as electric vehicle sales grow, the demand for the metal could grow as well.

In addition to developing its graphite project, Magnis has been working with Charge CCCV LLC (C4V) and Boston Energy and Innovation (BEI) to develop two lithium-ion battery gigafactories in New York, USA and Townsville, Australia.

The New York factory is expected to be operational in the near term and is expected to initially produce one gigawatt hour, but can increase its capacity to 15 gigawatt hours. The factory has received $13.25 million in funding from the New York state government.

The Townsville gigafactory is planned for first production in Q3 2022. The feasibility study for the project was funded by the Queensland State Government. The report outlined an NPV of AU$2.55 billion and an IRR of 21 percent. It also suggested the adoption of a three-phased construction model to reduce capital costs and for the integration of new technology as the facility is built. Magnis and its operating partners have been engaged in discussions with various end-users to secure offtake and sales agreements. Additionally, Magnis is responsible for sourcing the anode material and technology to be used at the factories.

Company Highlights

  • One of the largest mineral resources of large flake graphite in the world: 174 million tonnes at 5.4 percent total graphitic carbon for 9.3 million tonnes contained graphite.
  • BFS released in March 2016 contained an after-tax NVP (10 percent of $1.69 billion, an IRR of 98 percent, a capital payback of 14 months and a capital cost estimate of $269 million.
  • Demonstrated ability to produce a greater than 99.95 percent purity coated spherical graphite anode product with no chemical purification processes.
  • Key environmental, mining permits and fiscal agreement in place.
  • Power contracts secured and port authority agreement nearly complete.
  • Arranging project financing and offtake and supply agreements.
  • Acquired 10 percent interest in C4V.
  • C4V has developed the first solid-state lithium-ion battery.
  • 50.8 percent interest (direct and indirect shareholding) in the New York gigafactory.
  • Recently a key member and stakeholder in delivering the feasibility study to Queensland Government for the planned Townsville battery plant (18 gigawatt hours).
MNS:AU

On 2 March 2021 the Australian Taxation Office issued Rio Tinto Limited with amended assessments related to the denial of interest deductions on an isolated borrowing used to pay an intragroup dividend in 2015. The borrowing was repaid in 2018. The ATO has today issued further assessments in relation to the same transaction levying penalties of A$352m and reducing the original interest assessment from A$47m to A$27m …

On 2 March 2021 the Australian Taxation Office (ATO) issued Rio Tinto Limited with amended assessments related to the denial of interest deductions on an isolated borrowing used to pay an intragroup dividend in 2015. The borrowing was repaid in 2018.

The ATO has today issued further assessments in relation to the same transaction levying penalties of A$352m (US$257.9m) and reducing the original interest assessment from A$47m to A$27m (US$19.8m).

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Ioneer Ltd is pleased to announce that the Company has reached an agreement to establish a joint venture with Sibanye Stillwater Limited to develop the flagship Rhyolite Ridge Lithium-Boron Project located in Nevada, USA . Under the terms of the agreement, Sibanye-Stillwater will contribute US$490 million for a 50% interest in the Joint Venture, with ioneer to maintain a 50% interest and retain operatorship. ioneer …

Ioneer Ltd (“ioneer" or the “Company") (ASX: INR) is pleased to announce that the Company has reached an agreement to establish a joint venture (the " Joint Venture “) with Sibanye Stillwater Limited ( “Sibanye-Stillwater" ) to develop the flagship Rhyolite Ridge Lithium-Boron Project located in Nevada, USA (the “Project" ). Under the terms of the agreement, Sibanye-Stillwater will contribute US$490 million for a 50% interest in the Joint Venture, with ioneer to maintain a 50% interest and retain operatorship. ioneer has also agreed to provide Sibanye-Stillwater with an option to participate in 50% of the North Basin 1 upon the election of Sibanye-Stillwater to contribute up to an additional US$50 million subject to certain terms and conditions.

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Australia took a stand against Facebook and Google earlier this year, and the move could have long-term implications for tech investors.

It was a ban that sent Australians wild and had the whole world watching.

Back in February, Facebook (NASDAQ:FB) stopped users in Australia from posting news in a week-long blackout, reacting to proposed legislation that would have forced the social media behemoth to pay publishers for content.

What prompted Facebook to "friend" Australia again, and what are the potential long-term implications of the squabble? Read on to learn what tech-focused investors in Australia should know about the situation.


Australia squares off against Facebook

On February 25 of this year, Australia's federal government passed the News Media and Digital Platforms Mandatory Bargaining Code. It was developed after extensive analysis by the Australian Competition and Consumer Commission, and is aimed at ensuring that news media businesses are fairly remunerated for their content.

It stipulates that digital platforms such as Facebook and Google (both named in the documentation) must pay news outlets whose content they feature — for example, if content is shared on Facebook or shows up in Google search results. The idea is that this will help to sustain journalism in Australia.

Unsurprisingly, Facebook and Google didn't react well to the code, which was first introduced in 2020.

Google didn't make any moves after it passed, but Facebook quickly made it impossible for Australian users to share news content, and pages for both local and international news organisations went blank — a major concern given the COVID-19 and wildfire concerns that were circulating at the time.

Australian Prime Minister Scott Morrison was scathing about Facebook's decision — which he ironically shared in a Facebook post — declaring the tech giant's actions "as arrogant as they were disappointing." He added, "These actions will only confirm the concerns that an increasing number of countries are expressing about the behaviour of BigTech companies who think they are bigger than governments and that the rules should not apply to them."

Despite strong feelings from both Australia and Facebook, the dispute was resolved fairly quickly, with the country agreeing to make four amendments to the legislation and Facebook restoring Australian's access to news.

Implications for Big Tech and news organisations

Both Australia and Facebook have claimed victory in the dispute, with a Facebook representative saying the company will be able to decide if news appears on the platform — meaning it won't automatically have to negotiate with any news businesses. Changes were also made to the arbitration process.

Tech experts have pointed out that larger news companies may ultimately benefit from the changes, but smaller ones could be pushed to the side. Major publishers that have struck agreements with tech giants, such as News Corp, Nine Entertainment (ASX:NEC,OTC Pink:NNMTF), Seven West Media (ASX:SWM) and Guardian Australia, may be able to increase their market share while smaller independent players lose out.

A business that is in full support of the laws is Microsoft (NASDAQ:MSFT). During the conflict, President Brad Smith came out loudly in favour of Australia's law, and advised that his company is willing to step up with search engine Bing should Google and/or Facebook pull out of the Australian market.

"In Australia, Prime Minister Scott Morrison has pushed forward with legislation two years in the making to redress the competitive imbalance between the tech sector and an independent press. The ideas are straightforward. Dominant tech properties like Facebook and Google will need to invest in transparency, including by explaining how they display news content," he said in a blog post.

"The United States should not object to a creative Australian proposal that strengthens democracy by requiring tech companies to support a free press. It should copy it instead."

Global reach and tech investor impact

Six months down the road from Australia's landmark legislation, it's tough to say what the long-term impact may be.

That said, market watchers do believe the country is part of a new precedent of forcing Big Tech into paying for journalism — something giants Facebook and Google are not used to.

Countries looking to pursue similar legislation include Canada, where Facebook agreed in May to pay 14 publishers to link to their articles on its COVID-19 and climate science pages, as well as other unspecified use cases. Canada is pursuing other avenues too. Meanwhile, in France, Google said it will pay publishers for news content after the country took up new EU copyright laws that make digital platforms liable for infringements.

For investors, the takeaway is perhaps that while companies like Facebook and Google may seem too big too fail, they too can fall subject to new regulations that can change how they do business. As nations around the world look to take back control from these mega companies, it's important to be aware of possible effects on their bottom lines.

Don't forget to follow @INN_Australia for real-time updates!

Securities Disclosure: I, Ronelle Richards, hold no direct investment interest in any company mentioned in this article.

Queensland is the 16th most attractive jurisdiction in the world, sneaking in above BC and the Yukon in Canada, and just behind New Mexico in the US.

Queensland is one of the top three Australian jurisdictions for copper.

While it's well behind South Australia, a behemoth in the country for resources and production, Queensland hosts some 12 percent of all known Australian copper deposits, level with its southern neighbour New South Wales.

A premier mining jurisdiction globally, Queensland is ranked third out of all Australian jurisdictions for mining investment attractiveness, according to the Fraser Institute. Globally, it's ranked as the 16th most attractive jurisdiction, sneaking in above BC and the Yukon in Canada, and just behind New Mexico in the US.


The state is renowned for its mining prowess in Australia, and is known as one of the resource states, with a large chunk of its economic heft coming from the mining industry and its operations across the vast state.

Overall, mining accounts for 11.7 percent of Queensland's economy, with coal and liquefied natural gas being the primary focus of output. Together, coal, gas and mineral exports account for over 80 percent of Queensland's exports, according to the state government.

Having said that, copper plays a large role, and Queensland is home to the second biggest producer of copper in Australia in the form of Glencore's (LSE:GLEN,OTC Pink:GLCNF) Mount Isa mining complex in the northwest of the state. There, Glencore owns and operates the Enterprise and X41 mines.

Aside from Mount Isa, Glencore owns the nearby Ernest Henry copper mine. Combined, Glencore's Queensland operations produced 138,800 tonnes of copper in 2020 — accounting for a little over 10 percent of the company's global copper production. Glencore isn't listed on the ASX, but can be found on the LSE.

Besides the Mount Isa complex itself, there's also a handful of other operational mines in the northwestern portion of the state, although most of them are privately owned, such as the Capricorn copper project, which is a joint venture between EMR Capital and Lighthouse Minerals; it secured itself "prescribed project" status in 2017.

Other privately owned projects include Round Oak's Barbara project (in care and maintenance), Chinese-backed CuDECO's Rockland copper project (mothballed, CuDECO in liquidation) and Chinova's Osborne mine — which was originally set up by Ivanhoe Mines (TSX:IVN,OTCQX:IVPAF). There's also the Balcooma mine, which Royal Gold (NASDAQ:RGLD) has copper royalties on, and the privately owned Mount Cuthbert mine.

Many of the mentioned projects ran into trouble in 2020, with the COVID-19 pandemic limiting company operations.

All in all, Queensland has 13 operational copper mines, but as can be seen many are in private hands, making investment opportunities somewhat slim. Aside from previously mentioned Glencore operations, there's Red River Resources (ASX:RVR,OTC Pink:RRRDF), which owns the Thalanga operations near Charters Towers. Red River acquired Thalanga in 2014, and has been working to develop the legacy site back into a viable investment.

From the beginning of production in 2017, the operations have a lifespan of some 10 years, according to Red River, with further development and exploration options on the table. In its most recent quarterly report, Thalanga reported output of 3,086 tonnes of copper concentrate.

The remainder of the options on the table for investors are exploration focused, such as Copper Mountain Mining (ASX:C6C,OTC Pink:CPPMF) with interests in the Eva copper project, which is — unsurprisingly — in the northwest of the state, near the town of Cloncurry. Eva is in the development phase, with a feasibility study completed in early 2020 envisaging a 15 year mine life with an annual expected output of 106 million pounds of copper equivalent.

There's also Global Energy Metals (TSXV:GEMC,OTCQB:GBLEF), which like Glencore isn't on the ASX, but has interests in the Millenium cobalt-copper-gold project and others near Mount Isa — all in the exploration stage.

Aside from that, Strategic Energy Resources (ASX:SER) acquired exploration licences from Newcrest Mining (ASX:NCM,OTC Pink:NCMGF) in May 2021 for licences around Mount Isa, and Zenith Minerals (ASX:ZNC) is exploring the Develin Creek copper-zinc project. Zenith recently divested from another copper project, Flannagans, in June 2021 by selling its interests to a private company for $450,000.

Don't forget to follow us @INN_Australia for real-time updates!

Securities Disclosure: I, Scott Tibballs, currently hold no direct investment interest in any company mentioned in this article.

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