Magnis Energy Technologies Ltd (“Magnis” or the “Company”) [ASX:MNS) is pleased to present its Quarterly Activities Report for the period ended 30 September 2019.

HIGHLIGHTS:

  • National Australian Bank engaged as an advisor to Imperium3 Townsville (“iM3TSV”), bringing extensive experience in advising on funding large projects in the renewables sector, including working alongside Government bodies to advise
    projects in North Queensland.
  • Independent valuation completed by O’Brien & Gere as part of due diligence for iM3 New York battery plant funding, with equipment valued at US$71.34 Million (A$105.5 Million) and Magnis’ direct and indirect ownership at 50.86% of the
    project for approximately A$53 Million.
  • As part of the project site works, clearing progressed smoothly at the Nachu Graphite Project in Tanzania, further advancing the project.

Magnis Energy Technologies Ltd (“Magnis” or the “Company”) (ASX:MNS) is pleased to present its Quarterly Activities Report for the period ended 30 September 2019.

OPERATIONAL UPDATES

NAB Engaged as Advisor to iM3TSV Townsville Battery Plant

On 5 September, the Company announced that National Australian Bank (“NAB”) had been engaged as an advisor to Imperium3 Townsville (“iM3TSV”), bringing extensive experience in advising funding large projects in the renewables sector, including working alongside Government bodies, to advise projects in North Queensland.

As announced 21 April 2017, an exclusive MoU was signed with Townsville City Council to investigate building a 15GWh Lithium-ion Battery Manufacturing Plant in Townsville, Northern Queensland. With strong government support1 and commitment for $3.1m in grant funding to support the project2&3, iM3TSV was fast tracked on 5 June 20184, with new partners joining the consortium including SIEMENS, Celgard, Probuild, Norman Young & Disney, Ausenco and
WT Partnership.

Although occurring outside the reporting period, on 1 October 2019, Magnis announced that the iM3TSV Townsville Battery Manufacturing Plant Feasibility Study was submitted to Queensland Government. The Feasibility Study investigated the viability of developing an 18 GWh lithium-ion battery manufacturing plant in Townsville over 3 stages and demonstrated
sound financial viability on a project basis, with an NPV of A$2.55 Billion and 21% IRR. Project capital cost for all 3 stages is estimated at A$3 Billion with 1150 direct jobs when operating at full capacity.

The Company looks forward to continuing to progress the iM3TSV over the coming period.

iM3 New York Battery Plant Independent Valuation

On 30 September 2019, Magnis announced that as part of due diligence for the iM3 New York battery plant funding, an independent valuation completed by O’Brien & Gere, a wholly owned subsidiary of Dutch engineering giant Ramboll Group, valued equipment at US$71.34 Million (A$105.5 Million) with Magnis’ direct and indirect ownership at 50.86% of the project. The valuation commenced in August 2019 and reviewed all items purchased as part of the acquisition made in early 20185 and valued Magnis’ 50.86% ownership at approximately A$53 Million. Ramboll Group is based in Denmark and employs over 15,000 engineers globally with over 300 offices in 35 countries.

Nachu Graphite Project Site Works

As per the June 2019 Quarterly Activities Report, the clearing of the Nachu Graphite Project access roads and infrastructure areas has continued to progress smoothly. During the September 2019 quarter, clearing continued with roads surveyed and cleared now providing over 16 kilometres of additional logistically beneficial vehicle access to key planned project areas including main access routes, camp, plant site, tailings storage facility and mine laydown plus the clearing of the community southern diversion road.

In addition, engineering design and pre-costing has been completed on the southern diversion road in readiness for tender process implementation. The southern diversion road is a new access road along the southern mining lease boundary developed to keep communities connected without the need to traverse the mining lease.

Officers from Tanzania’s Mining Commission inspected the proposed area for construction of the explosive storage magazine. The proposed area is satisfactory and now awaits final permitting. Community projects in the quarter included the refurbishment of a water tank for the Chunyu medical clinic, maintenance of community areas and general support and involvement in community events.

Magnis Chairman, Frank Poullas, commented: “The September 2019 quarter has been an important period for Magnis, as we’ve made significant progress on the iM3TSV battery plant, with National Australian bank being appointed as advisors and the completion of the feasibility study, highlighting the strong economics of the project.”

“During the quarter, an independent valuation of the iM3 New York battery plant assigned a valued of approximately A$53 million to Magnis’ direct and indirect ownership in the project, thereby demonstrating the significant value in this asset. We have also continued to advance the Nachu Graphite Project with further clearing undertaken as part of the project site works.

We look forward to continuing to advance the Company’s three projects over the coming period.”

CORPORATE UPDATES

$8 Million in Funding Secured

On 27 September 2019, the Company announced that Middle East based Negma Group had agreed to subscribe for up to $8 Million in shares over a 12 month period, with an option for a further $4 Million investment.

Negma will provide up to $8 Million over the course of 12 months with a maximum monthly subscription of $700,000. The price of the shares issued will be at an 8% discount to the previous ten day Volume Weighted Average Price (“VWAP”). The Company has the flexibility to call the monthly amounts and can cancel the agreement at any stage without a penalty.

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

Source

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.

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