Magnis Energy Technologies: Quarterly Activities Report to 30 September 2020

Magnis Energy Technologies (ASX:MNS) is pleased to present its Quarterly Activities Report and overview of operations for the period ended 30 September 2020.

HIGHLIGHTS:

Extra Fast Charge (“EFC”) test results for EV batteries developed by Magnis Partner, CIV, yielded a potential game changer for EV manufacturers.
Following the ongoing success of EFC results using unoptimized cells, for the next qualification phase, battery cells optimised for very fast charge will be used.
Demonstration program in New York commenced for a Public Transit Technology and Innovation Program funded by the NYSERDA, with a proposal to develop EFC system utilising extended-life batteries provided by CIV.
Abt Associates report highlights batteries to be produced by iM3NY will be the greenest in the market.
New York Battery Plant financing discussions progress.
The announcement on LI September 2020 of a $7.65 million capital raising via a placement of 15,000,000 ordinary shares at 17 cents per share to new local and overseas institutional investors, new sophisticated investors and existing shareholders.
Queensland State Government approves Townsville Lithium-ion Battery Manufacturing Plant Feasibility Study.
Senior Management Team bolstered by new appointments.