iM3NY (Imperium3) Lithium-ion Battery Plant

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On 23 February 2018, Magnis announced that Imperium3 New York had completed the acquisition of the Lithium-ion battery plant as announced to the ASX on 8 February 2018.  The Imperium3 consortium consists of Magnis Energy Technologies Ltd, C4V LLC New York and Boston Energy and Innovation (BEI).  Following the completion of the acquisition, the plant was subsequently relocated to New York.

Highlights

• Magnis direct and indirectly owns 50.86% of iM3NY

• Marketing and qualification of battery products to major OEM’s (Original Equipment Manufacturers)

• Gen2 cells will be available by year end for customer testing and performance validation

• Independent valuation of plant – US$71 million

Next Steps

• The Company aims to finalising funding by end FY2020 which will enable production to commence

• Contractor engaged (pending funding) to assemble and commission the existing plant in current location

• Plant to be re-engineered with Strategic Partner Vendors for optimum yield

• Demonstration of supply chain viability & validation of high yield battery production

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