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Magnis Quarterly Activities Report to 31 March 2020

Magnis Energy Technologies (ASX:MNS) is pleased to present its Quarterly Activities Report for the period ended 31 March 2020.

HIGHLIGHTS

  • Magnis partner, US lithium-ion battery technology group, Charge CCCV (“C4V”), fulfilled another commercial agreement with MARTAC to be deployed in its high tech, mission critical applications along with new lithium-ion cell data.
  • Magnis will increase its shareholding in the iM3 New York Battery Plant, following further investment made into the project.
  • Magnis announced future reductions of non-essential operating expenses, in light of current market conditions caused by the COVID-19 pandemic, resulting in cash savings of approximately $1.3 Million per annum.

Magnis Energy Technologies Ltd (“Magnis” or the “Company”) (ASX:MNS) is pleased to present its Quarterly Activities Report for the period ended 31 March 2020.

OPERATIONAL UPDATES

Major Battery Advancements

On 3 February 2020, the Company announced that Magnis partner, US lithium-ion battery technology group, Charge CCCV (“C4V”), had fulfilled another commercial agreement with MARTAC to be deployed in its high tech, mission critical applications along with new lithium-ion cell data.

MARTAC is an innovative provider of the MANTAS line of Unmanned Surface Vehicles (USV) for several industries including security, commercial and scientific missions and markets. MANTAS integrate with a wide array of sensors and communication technologies and operate in diverse maritime environments where other manned and unmanned systems cannot.

Following a two-year collaboration, C4V was able to demonstrate the ability of their BMLMP technology, which has led to another order from MARTAC, following a significant multi-year order from The United Kingdom Government. The batteries provided to MARTAC are in the same form as batteries that are planned to be produced from the iM3NY Gigafactory in New York.

MARTAC conducted critical test protocols to qualify C4V cells, followed by the design of battery packs for harsh environment and extreme load applications. Upon successful completion in 2019, C4V was given the opportunity to supply more FiresafeTM batteries to be integrated in MARTAC’s fully autonomous high-end maritime vessels.

Magnis remains a 10% shareholder of C4V.

Increases Ownership in the New York Lithium-ion Battery Plant

On 16 March 2020, Magnis announced that the Company will increase its shareholding in the New York Battery Plant, following further investment made into the project through the US based entity, Imperium 3 New York LLC (iM3NY).

Under the terms of the investment transaction, Magnis will acquire Boston Energy and Innovation Pty Limited’s (BEI) entire holdings in iM3NY as well as Boston Opportunities interest in iM3NY. The consideration for the shareholding is US$350,000, with funds to be paid by 30 June 2020. An additional US$150,000 bonus payment is to be paid to BEI, on the condition that iM3NY successfully secures project finance or a joint venture agreement with an offtake partner for the iM3 New York Battery Plant, within a twelve month period.

At the completion of the investment transaction, Magnis will hold a 53.39% direct holding in iM3NY. C4V will have a direct holding of 45.17%, with Primet Precision Materials Inc and C&D Assembly Inc the remaining holders.

As announced on 30 September 2019, iM3NY equipment was independently valued at US$71.34 Million (A$115.5 Million) by O’Brien & Gere, a wholly owned subsidiary of Dutch engineering giant Ramboll Group.

Townsville Battery Plant

The ownership structure in the iM3 Townsville (iM3TSV) entity that owns the planned Lithium-ion battery plant for Townsville remains unchanged. BEI, C4V and Magnis each own an equal one third interest in iM3TSV. The Townsville Battery Manufacturing Feasibility Study was submitted to the Queensland Government in late 2019, and iM3TSV looks forward to the next stage of attaining suitable project funding for the development.

Reduction in Operating Costs

Although occurring after the reporting period, on 1 April 2020 Magnis announced a future reduction in non-essential operating expenses in light of current market conditions caused by the COVID-19 pandemic, resulting in cash savings of approximately $1.3 Million per annum.

The contributors to the savings include directors’ fees being deferred for Board members and salary reductions to some members in the executive management team.

Commenting on the quarter, Magnis Chairman, Frank Poullas, said: “The March quarter was a quieter period for the Company with temporary lockdowns across the jurisdictions in which the Company operates, however importantly during the quarter, partner C4V fulfilled another agreement with MARTAC. Magnis also increased its shareholding in the iM3 New York Battery Plant, thereby strongly positioning the Company to capitalise on this opportunity post COVID-19.

With the recently announced operating costs to be reduced, the Company will continue to seek cost savings where possible whilst advancing its projects and complying with government regulations in the jurisdictions in which it operates.”

CORPORATE UPDATES

During the quarter, the Company announced that Managing Director, Mr Marc Vogts, had retired from active business. The Board of Directors thanked Mr Vogts for his dedication to Magnis and appointed Mr Leslie Hosking as Interim Managing Director. In February 2020, Mr Hosking and Non-Executive Director, Mr Subhas DeGamia, resigned from The Board of Directors.

At this stage no new Board appointments have occurred and whilst this delayed the final stages of implementing the Company’s Corporate Governance review, an update will soon be provided to the market.

Payments for directors’ fees and entitlements in the normal course of trading and consulting fees to related parties of the entity during the March 2020 quarter totalled $138,000.

As at 31 March 2020, there were approximately 4,900 shareholders of the Company.

This announcement has been authorised for release by the Board of Magnis Energy Technologies Ltd.

Dr Frank Houllis
Chief Executive Officer
Ph: +61 2 8397 9888
www.magnis.com.au

About Magnis

Magnis aims to become a leading global producer of next-generation green credentialed Lithium-Ion Battery (LIB) cells, enabling the future energy requirements of the world, the global storage of renewable energy and electrification of transportation.

Leveraging off a world class graphite asset in Tanzania, associated production IP and a strategy partnership with US based Charge CCV, Magnis will manage an end to end supply chain, sourcing the raw materials and associated technologies for these cells.

Magnis has three core areas of focus which provide the Company with a strategic advantage; battery technologies, gigafactories and graphite.

For further information about Magnis and its projects, please refer to the Company’s website www.magnis.com.au

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

Source

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robotic arm above a globe showing Australia

Australia is hoping to lead the way in robotics, and these are some of the country's top robotics stocks by market cap.

Robotics is a growing area of engineering and science technology. Although Australia is hoping to lead the way in robotics, the number of pure-play ASX-listed robotics companies isn't all that big.

Robotics is a broad term covering everything from design to the construction and operation of robots. It also includes the use of robots in roles normally played by humans, often to reduce errors or speed up processes.

This list includes a wide range of ASX-listed companies that employ robotics. Data was sourced using TradingView's stock screener on November 24, 2021, and stocks are listed in order of market cap from largest to smallest.


1. WiseTech Global (ASX:WTC)

Market cap: AU$17.19 billion; current share price: AU$52.90

Technology powerhouse WiseTech Global provides software solutions to logistics businesses in 130 countries around the world. Its CargoWise platforms are designed using workflows, automation and robotics. The WiseTech Global Group includes more than 30 businesses.

The company has performed positively on the ASX over the past year, with its share price rising about 70 percent since the start of 2021. The company expects to continue this momentum in during its 2022 fiscal year, with projected EBITDA growth of 26 to 38 percent.

2. Altium (ASX:ALU)

Market cap: AU$5.47 billion; current share price: AU$41.67

Altium is a leading global software company that focuses on 3D-printed circuit board (PCB) design. Although seemingly obscure, the PCB design tool Altium Designer is used by robotics companies like Robotics Kanti. The company also sponsors student robotics design competitions that focus on PCB design.

The 2021 fiscal year was strong for Altium, which reported a revenue increase of 6 percent, to AU$180.2 million, and announced a final dividend of AU$0.21 per share.

3. Vection Technologies (ASX:VR1)

Market cap: AU$249.49 million; current share price: AU$0.25

Vection Technologies is a multinational software company with offices in Western Australia, as well as Subiaco and Casalecchio di Reno in Italy. The company uses robotics technology in addition to 3D, virtual reality, augmented reality, industrial internet of things and CAD solutions.

The business is split into two sections: information technology development and outsourced services. The company also collaborates with Autodesk Technology Centres, the Microsoft Mixed Reality Team and Cisco Systems Italy.

4. FBR (ASX:FBR)

Market cap: AU$116.95 million; current share price: AU$0.05

FBR designs, develops and builds robots for the global construction market. The company's dynamically stabilised offerings are made to work outdoors using FBR's Dynamic Stabilisation Technology.

This technology was first used in the Hadrian X, a brick-laying robot that can build structural walls more efficiently than traditional methods and with less waste. The first commercial building to have its structural walls built by Hadrian X in 2020 was completed and tenanted in 2021.

5. Bill Identity (ASX:BID)

Market cap: AU$44.18 million; current share price: AU$0.25

Previously known as BidEnergy, Bill Identity provides a series of bill management solutions leveraged using its Robotic Process Automation (RPA). The RPA system helps clients increase their efficiency and serves customers across Australia, New Zealand, the UK, the US and Europe. The company had a strong year, with total operating revenue growth of 55 percent year-on-year to AU$14.6 million in its 2021 fiscal year.

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

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

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Robotics is an area of investing that is growing in Australia ― but is it a sector worth investing in?

The global robotics industry is expected to grow at a compound annual growth rate of 7.8 percent through 2028 according to the Global Industrial Robotics Market Analysis 2020. Robotics is an area of investing that is growing in Australia ― but is it a sector worth investing in?

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The distinction between robotics and AI can be a little confusing, but essentially think of robotics like the body and AI like the brain. Both can exist separately, and they are powerful when combined. The goal of a robot is to complete a task faster and more efficiently than a human.

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The COVID-19 pandemic has seen technology sectors such as robotics accelerate as businesses have faced global challenges. Robotics has been able to help keep spaces safer by replacing humans with robots on factory lines, in eCommerce warehouses or on healthcare frontlines taking temperatures or disinfecting spaces.

What is Australia doing to support the robotics sector?

In early 2020, the Robotics Australia Network was formed to accelerate growth of the domestic robotics industry. The network aims to strengthen global competitiveness and cement Australia as a global leader in robotics.

How does the Australian robotics sector stack up?

According to the International Federation of Robotics, in a ranking of the world's most automated countries it's not even in the top 10. Number one is Singapore, followed by South Korea then Japan.

The investment space for pure robotics companies is relatively small, with greater opportunities to invest in more broader technology, AI and automation stocks.

Who are the big players in robotics stocks?

Robotics stocks in Australia are companies with a strong crossover to other technology sectors like artificial intelligence and virtual reality.

Vection Technologies (ASX:VR1)
Market Cap AU$77.56 million

Vection is a multinational software company with offices in Western Australia as well as Subiaco and Casalecchio di Reno in Italy. The company uses robotics technology as well as 3D, virtual reality, augmented reality, industrial IoT and CAD solutions. The business is split into two sections: IT development and outsourced services. The company also collaborates with Autodesk Technology Centers, the Microsoft Mixed Reality Team and Cisco Systems Italy.

Bill Identity (ASX:BID)

Market Cap AU$52.97 million

Previously known as BidEnergy, Bill Identity is a series of bill management solutions leveraged using robotic process automation, which helps clients increase efficiency. The company serves customers across Australia, New Zealand, the UK, the US and Europe. Bill Identity had a strong year, with total operating revenue growth of 55 percent year-on-year to US$14.6M in FY21.

What are the other ways to invest in robotics?

Another way to get into the robotics sector is investing in robotics exchange traded funds (ETFs), a popular choice that offers exposure to the industry of robotics and artificial intelligence rather than a single company. Two major ETFs in the robotics sector are:

  • BetaShares Global Robotics and Artificial Intelligence ETF (ASX:RBTZ)
  • The ROBO Global Robotics and Automation ETF (ARCA:ROBO)

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

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