The first of the battery plants that Magnis has ownership in.
• 15 GWh (at full capacity) Lithium-ion Battery (LIB) Plant to be located in Huron Campus the birthplace of IBM in Upper State New York.
• Supported by New York State Government and leading global consortium of LIB specialists.
• Initial Grants and Funding to US$13.25M from New York State Government and announced by Governor Cuomo.
• Magnis has increased its ownership stake to a level of 50.86% via its direct and indirect shareholding in the iM3NY company and New York battery project.
• Acquired plant assets consist of high
quality equipment from major USA and European suppliers. Equipment to support
slurry making, coating, cell assembly, formation, testing with modules for
assembly and packing.
• Minor plant engineering will be required incorporating Imperium3’s leading materials & IP processing technologies also introducing cylindrical LIB cells to the prismatic currently manufactured.
• The speed to production key – Initially Stage 1 production was going to be 3GWh. The recent strategic acquisition allows production to commence earlier aimed at 1GWh, then advancing to the full 15GWh capacity.
• Fast Tracking production will accelerate the following :
Marketing and qualification of our battery products to major OEM’s Original Equipment Manufacturers; qualification of our performance leading, low cost & sustainable materials technologies; and demonstration of supply chain viability & validation of high yield battery production.
• Binding Sales Agreements signed for 40% of 2019/20 planned production to be used in Electric Vehicle’s and Electronic Storage Systems.