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

Significant Initial Fast Charging Battery Results In Optimised Commercial Cells

  • Initial successful results in Fast Charging [FC] battery program using commercial optimised multilayer 1.6 Ah pouch cells
  • After 600 cycles over 93% capacity retention with 30 min charge and 30 min discharge
  • Tests have begun with Extra Fast Charging [EFC] to deliver >85% charge in 6 minutes
  • Tests have begun with Extra Fast Charging [EFC] to deliver >85% charge in 6 minutes

Magnis Energy Technologies Limited (ASX: MNS) is very pleased to announce that the game changing results announced on 11 September 2020 for EFC batteries using unoptimised commercial cells, have continued with the current commercial optimised cell programs. The cells are developed by Magnis partner, Charge CCCV, LLC. (“CCV”).

FC Results
Cycling results from an optimised commercial size cell to date, using CCV technology, have produced exciting results, with the cycling life retention over 600 cycles, with a 30 minute charge and 30 minute discharge. This is the first step before starting more aggressive tests with 6 minute charge that started last week. The optimised cell is within 99% energy density of a regular iM3 energy cell, which means minimal energy density loss for an FC cell.

Keep reading... Show less

Significant Initial Fast Charging Battery Results In Optimised Commercial Cells

  • Initial successful results in Fast Charging [FC] battery program using commercial optimised multilayer 1.6 Ah pouch cells
  • After 600 cycles over 93% capacity retention with 30 min charge and 30 min discharge
  • Tests have begun with Extra Fast Charging [EFC] to deliver >85% charge in 6 minutes
  • Tests have begun with Extra Fast Charging [EFC] to deliver >85% charge in 6 minutes

Magnis Energy Technologies Limited (ASX: MNS) is very pleased to announce that the game changing results announced on 11 September 2020 for EFC batteries using unoptimised commercial cells, have continued with the current commercial optimised cell programs. The cells are developed by Magnis partner, Charge CCCV, LLC. (“CCV”).

FC Results
Cycling results from an optimised commercial size cell to date, using CCV technology, have produced exciting results, with the cycling life retention over 600 cycles, with a 30 minute charge and 30 minute discharge. This is the first step before starting more aggressive tests with 6 minute charge that started last week. The optimised cell is within 99% energy density of a regular iM3 energy cell, which means minimal energy density loss for an FC cell.

Keep reading... Show less

Magnis Energy Technologies


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).

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

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

Magnis Energy Technologies Limited (ASX: MNS) is pleased to announce that Imperium3 New York (iM3NY) has acquired state-of-the-art machinery from lithium-ion cell manufacturer A123 Systems to reduce overall capex requirements while bringing forward production. Magnis has a direct and indirect holding of approximately 58% of iM3NY.

The new equipment includes formation lines, slurry making, coating, stacking machines, solvent recovery, and refining. The machinery will form part of a full assembly line enabling the company to further advance its technology while also expanding its production capabilities.

Keep reading... Show less

Lake Resources NL Quarterly Activities Report

Sydney, Australia (ABN Newswire) – Lake Resources NL (ASX:LKE) (FRA:LK1) (OTCMKTS:LLKKF) is a lithium developer utilising clean, direct extraction technology for the development of high purity lithium products with significant ESG benefits from its flagship Kachi Project (4.4mt LCE resource), and three other lithium brine projects in Argentina. No mining is involved in the brine processing.

Lake owns over 220,000 hectares (0.5 million acres) of leases in a prime location within the Lithium Triangle, alongside all 5 major lithium producers.

A key difference in Lake’s development plan to lithium production is to use an efficient direct lithium extraction method (DLE) from our technology partner, Lilac Solutions Inc. This enables Lake Resources to be a cost competitive supplier of high-purity lithium carbonate with a low carbon (CO2) footprint, low water use and low land use – strong Environmental, Social, Governance (ESG) benefits.

Keep reading... Show less

OceanaGold Reports Second Quarter 2021 Financial Results

/NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES AND NOT FOR DISTRIBUTION TO US NEWSWIRE SERVICES./

(All financial figures in US Dollars unless otherwise stated)

Keep reading... Show less

In exceptional market conditions, Rio Tinto achieves record financial results and declares total interim dividend of 561 US cents per share, 75% of underlying earnings

Rio Tinto Chief Executive Jakob Stausholm said “Government stimulus in response to ongoing COVID-19 pressures has driven strong demand for our products at a time of constrained supply resulting in a significant spike in most prices. We focused on safely running our world-class assets and supplying products to our customers. This enabled us, despite operational challenges, to deliver record financial results with free cash flow of $10.2 billion and underlying earnings of $12.2 billion, after taxes and government royalties of $7.3 billion. We are further strengthening the portfolio with our commitment to fund the high-quality Jadar lithium project, which signals our large-scale entry into the fast-growing battery materials market. We will pay an interim dividend of 561 US cents per share, representing 75% of underlying earnings.

“We are making progress on our four priorities, identifying opportunities for operational improvement, advancing our ESG agenda, taking important investment decisions and stepping up our external engagement. We are making real and lasting changes to the way we engage, interact and operate and are committed to ensuring that we have strong and positive relationships wherever we do business. We have identified what we need to do to make Rio Tinto a better company for the long term, with the right teams in place to unleash our full potential.”

Keep reading... Show less

Lake Resources NL Bonus Issue to Shareholders

Sydney, Australia (ABN Newswire) – Clean lithium developer Lake Resources NL (ASX:LKE) (FRA:LK1) (OTCMKTS:LLKKF), in recognition of the support received from its shareholders, wishes to advise that it intends to undertake a bonus issue of options (Bonus Options) to all shareholders with an address in Australia or New Zealand (Eligible Shareholders) at 5:00 pm (Sydney time) on the Record Date (set out in the indicative timetable set out below*).

As the Bonus Options will be issued for nil consideration, Lake is raising no capital from their issue. For every ten (10) shares held at 5:00 pm (Sydney time) on the Record Date, Eligible Shareholders will be issued with one (1) free Bonus Option.

The Bonus Options will have an exercise price $0.35 each, expiring on 15 October 2021 and, if exercised, each will result in the allotment and issue of one (1) fully paid ordinary share in Lake. Lake will not seek listing of the Bonus Options on ASX.

Keep reading... Show less

Lake Resources NL Argentina based Director Strengthens Board

Sydney, Australia (ABN Newswire) – Clean lithium developer Lake Resources NL (ASX:LKE) (FRA:LK1) (OTCMKTS:LLKKF) has strengthened its Board, announcing today the appointment of experienced energy/natural resources lawyer, Sra. Amalia Saenz as a Non-Executive Director.

Based in Buenos Aires, Sra. Amalia’s appointment will assist Lake and its local team in Argentina in engaging with local stakeholders and preparing for the development of clean lithium production in Argentina.

Sra. Saenz is a partner at the law firm, Zang, Bergel & Viaes in Buenos Aires, where she leads the firm’s energy and natural resources practice.

Keep reading... Show less

Lake Resources NL Quarterly Activities Report

Sydney, Australia (ABN Newswire) – Lake Resources NL (ASX:LKE) (FRA:LK1) (OTCMKTS:LLKKF) is a lithium developer utilising clean, direct extraction technology for the development of high purity lithium products with significant ESG benefits from its flagship Kachi Project (4.4mt LCE resource), and three other lithium brine projects in Argentina. No mining is involved in the brine processing.

Lake owns over 220,000 hectares (0.5 million acres) of leases in a prime location within the Lithium Triangle, alongside all 5 major lithium producers.

A key difference in Lake’s development plan to lithium production is to use an efficient direct lithium extraction method (DLE) from our technology partner, Lilac Solutions Inc. This enables Lake Resources to be a cost competitive supplier of high-purity lithium carbonate with a low carbon (CO2) footprint, low water use and low land use – strong Environmental, Social, Governance (ESG) benefits.

Keep reading... Show less

OceanaGold Reports Second Quarter 2021 Financial Results

/NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES AND NOT FOR DISTRIBUTION TO US NEWSWIRE SERVICES./

(All financial figures in US Dollars unless otherwise stated)

Keep reading... Show less

In exceptional market conditions, Rio Tinto achieves record financial results and declares total interim dividend of 561 US cents per share, 75% of underlying earnings

Rio Tinto Chief Executive Jakob Stausholm said “Government stimulus in response to ongoing COVID-19 pressures has driven strong demand for our products at a time of constrained supply resulting in a significant spike in most prices. We focused on safely running our world-class assets and supplying products to our customers. This enabled us, despite operational challenges, to deliver record financial results with free cash flow of $10.2 billion and underlying earnings of $12.2 billion, after taxes and government royalties of $7.3 billion. We are further strengthening the portfolio with our commitment to fund the high-quality Jadar lithium project, which signals our large-scale entry into the fast-growing battery materials market. We will pay an interim dividend of 561 US cents per share, representing 75% of underlying earnings.

“We are making progress on our four priorities, identifying opportunities for operational improvement, advancing our ESG agenda, taking important investment decisions and stepping up our external engagement. We are making real and lasting changes to the way we engage, interact and operate and are committed to ensuring that we have strong and positive relationships wherever we do business. We have identified what we need to do to make Rio Tinto a better company for the long term, with the right teams in place to unleash our full potential.”

Keep reading... Show less

Lake Resources NL Bonus Issue to Shareholders

Sydney, Australia (ABN Newswire) – Clean lithium developer Lake Resources NL (ASX:LKE) (FRA:LK1) (OTCMKTS:LLKKF), in recognition of the support received from its shareholders, wishes to advise that it intends to undertake a bonus issue of options (Bonus Options) to all shareholders with an address in Australia or New Zealand (Eligible Shareholders) at 5:00 pm (Sydney time) on the Record Date (set out in the indicative timetable set out below*).

As the Bonus Options will be issued for nil consideration, Lake is raising no capital from their issue. For every ten (10) shares held at 5:00 pm (Sydney time) on the Record Date, Eligible Shareholders will be issued with one (1) free Bonus Option.

The Bonus Options will have an exercise price $0.35 each, expiring on 15 October 2021 and, if exercised, each will result in the allotment and issue of one (1) fully paid ordinary share in Lake. Lake will not seek listing of the Bonus Options on ASX.

Keep reading... Show less

Lake Resources NL Argentina based Director Strengthens Board

Sydney, Australia (ABN Newswire) – Clean lithium developer Lake Resources NL (ASX:LKE) (FRA:LK1) (OTCMKTS:LLKKF) has strengthened its Board, announcing today the appointment of experienced energy/natural resources lawyer, Sra. Amalia Saenz as a Non-Executive Director.

Based in Buenos Aires, Sra. Amalia’s appointment will assist Lake and its local team in Argentina in engaging with local stakeholders and preparing for the development of clean lithium production in Argentina.

Sra. Saenz is a partner at the law firm, Zang, Bergel & Viaes in Buenos Aires, where she leads the firm’s energy and natural resources practice.

Keep reading... Show less

Classic Minerals Limited Quarterly Activities Report

Perth, Australia (ABN Newswire) – Classic Minerals Limited (ASX:CLZ) has made significant progress at Kat Gap during the quarter as it strives to become a gold producer.

Highlights of the quarter include:

– Assay results returned for infill RC drilling testing the gap between oxide and deeper fresh rock high-grade gold mineralisation at Kat Gap.

Keep reading... Show less

Top News

Related News