Magnis Energy Technologies Limited: New York Lithium-ion Battery Plant Update
Sydney, Australia - Magnis Energy Technologies Ltd. (ASX:MNS) (FRA:U1P) (OTCMKTS:URNXF) is pleased to provide an update on activities at the iM3NY Battery Plant based in Endicott, New York. Magnis is the major shareholder of the project.- New York Plant Status - 23% complete
- Internal Building clear-out completed with internal works having started
- Machinery roll-out to start in September
- Public review of Air Permit has had no objections so far and on track to be granted in the near term
- Lukasz P. Cianciara joins iM3NY to focus on US listing
- Safety - Zero incidents to date in August
Project Status and Recent Milestones
Overall project completion rate is at 23%.
The facility clear-out work was completed, facility customisation work has begun with the machinery roll out to start next month. Construction material for the facility customisation work has continued to arrive at the factory.
The iM3NY team has collaborated with Ramboll to continue working through crucial design feed information including heat load and exhaust information for dry rooms, process gas utilities, master utility matrix, finalised exterior general arrangement drawing, chemical storage and feed details. These items are critical to progress the Ramboll design team in detailed engineering design work.
There have been zero safety incidents to date in August.
Permits
With the Environmental Justice plan having been approved, the air and aquifer permits remain outstanding. The Air Permit is currently at the public review stage and has received no objections to date, it is expected to be granted soon. The Aquifer Permit will be put forward to a public review process and is expected to be granted sometime in the near future.
Recent Hires - Lukasz P. Cianciara
During August there have been 4 new hires and currently there are several open positions, these positions include engineers and technicians.
Lukasz P. Cianciara has been appointed as Director of Investments. Lukasz has over 30 years of Senior Level Capital Markets experience having worked for groups including Citadel Investment Group, Castlepines Global Equity, Brean Capital, CIBC, Sumitomo Bank Capital Markets and Credit Lyonnais.
Of particular interest, Lukasz has spent the last decade focusing on the renewable energy sector including recently being involved in SPAC listings. Lukasz will assist with funding iM3NY in its endeavours to grow exponentially and publicly list in New York.
iM3NY CEO Chaitanya Sharma commented: "There is some serious progress made to date, with things are about to ramp up from this point on, which is exciting for our ever-growing team."
"We are working tirelessly to achieve our milestones on time and on budget."
Magnis Chairman Frank Poullas commented: "Great progress continues to be made and the appointment of Lukasz is a major milestone as iM3NY looks towards a US Listing. We look forward to providing shareholders with regular updates."
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About Magnis Energy Technologies Limited:
Magnis Energy Technologies Ltd. (ASX:MNS) (OTCMKTS:URNXF) (FRA:U1P) 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.
Source:
Magnis Energy Technologies Ltd.
Contact:
Frank Poullas Executive Chairman Ph: +61 2 8397 9888 www.magnis.com.au