Magnis Energy Technologies Limited is very pleased to announce that the game changing results announced on 24 July 2020 for EFC batteries, have progressed with a decision made to commence the program on optimised commercial cells developed by Magnis partner, Charge CCCV, LLC.

  • Following the ongoing success of Extra Fast Charging (EFC) results using unoptimised cells, for the next phase of Original Equipment Manufacturer (0EM) qualification, battery cells optimised for very fast charge will be used
  • Over 1000 charges have been conducted to date with capacity maintaining strength above 80%
  • EFC allows 85% charge in 6 minutes
  • A 12-month demonstration program funded by NYSERDA, which includes BAE Systems and Consolidated Edison on EFC batteries in Electric Buses begins
  • Major interest shown by overseas OEM’s

Magnis Energy Technologies Limited (“Magnis”, or the “Company”) (ASX:MNS) is very pleased to announce that the game changing results announced on 24 July 2020 for EFC batteries, have progressed with a decision made to commence the program on optimised commercial cells developed by Magnis partner, Charge CCCV, LLC. (“CCV”).

EFC Results

Cycling results from an unoptimised commercial size cell to date, using CCV technology, has produced exciting results, with the cycling life retention over 1000 cycles, with a 6 minute charge and 1 hour discharge. The unoptimised cell is within 99% energy density of a regular energy cell, which means minimal energy density loss for a super fast charge cell. Following the exciting results, a decision has been made to commence testing of EFC on optimised composition of commercial cells.

Battery cells optimised for very fast charging are required to maximise charging energy efficiency, battery life and, most importantly, safety. Magnis technology partner, CCV, is at the forefront of this technology development and has been working with end users including commercial EV manufacturers, to develop a future proof design for EFC batteries, with a focus on low cost and sustainable supply chain. Several European OEM’s have expressed interest in the technology with initial discussions being undertaken in recent weeks, with confidentiality agreements having been executed.

New York Demonstration Program

A demonstration program in New York has commenced for a Public Transit Technology and Innovation Program funded by NYSERDA, with a proposal to develop EFC system utilising extended—life batteries provided by CCV with its BMLMP technology.

The technology in planned to be developed in Binghamton, New York US, and tested at BAE Systems before being installed for some New York City bus routes. The plan is to remove 50D,D00 metric tons of carbon dioxide annually from the New York City metro area, whilst increasing energy efficiency and lowering upfront costs versus the current system.

Consolidated Edison will be responsible for charging, with bus stops equipped with robotic arms that have the ability reach down from the overhead electric wires and connect to the buses’ batteries to recharge them in 5 to 10 minutes.

Magnis Chairman Frank Poullas commented: “The response from our fast charging announcement has been amazing with a number of major OEM’s contacting Magnis with discussions having kicked off.”

“Today’s announced results are another step forward in this exciting technology and we look forward to receiving the results from the commercial cell program in the near future.”

Authorised by the Board of Directors of Mapnis Enerpy Technologies Limited (ACN 115 111 763)

Frank Poullas Executive Chairman Ph: +61 2 83979888

www.magnis com.au

Suite 9.03 Aurora Place, 88 Phillip Street, Sydney NSW 2000

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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