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.

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.

Click here for the full announcement. 

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