Magnis Energy Technologies Limited: Nachu Anode Materials Exceptional Performance

Sydney, Australia - Magnis Energy Technologies Ltd. (ASX:MNS) (OTCMKTS:MNSEF) (FRA:U1P) is pleased to provide the latest results achieved in its pilot scale production in New York of AAM as part of its customer qualification process.

Active Anode Materials

Graphite has been classified as a critical material by the United States and European Governments.

Graphite is the main material used for the battery's anode, which takes in and holds lithium ions during charging and releases them when energy is needed. Graphite's inherent unique characteristics of high thermal and electrical conductivity combined with chemical inertness provides stability when you cycle through many energy flows and without any ignition or degrading. A typical 60 kilowatt-hour EV battery holds approximately 70kg of graphite.

Production of AAM and Recent Results

Recently Magnis produced AAM derived from its high-purity Nachu flake graphite for customer qualification.

The materials produced by Magnis' technology partner, C4V utilising a downstream processing technology at its pilot facility in New York has been undergoing regular product development, optimisation and quality and performance testing exercises. The quality control (QC) and performance testing have been performed as per industry standard protocols including third party analytical tests for purity verifications.

Magnis' AAM has demonstrated FCE results that meet and outperform the industry standard requirements for both EV's and energy stationary storage. The exceptional performance results have been achieved without any chemical/acid purification or high-temperature thermal purification.

Recent test results have shown purity of 99.97% with a First Cycle Efficiency (FCE) of >94.4%, less than 6% ICL and a reversible capacity of >355 mAh/g. The performance puts the Nachu AAM in the top quartile of products in the marketplace.

Significance of Results

FCE plays a critical role in the lithium-ion cell manufacturing process. A higher first-cycle efficiency indicates a lower amount of loss in lithium when the first cycle (also known as the formation cycle in cell manufacturing) is performed on the production floor.

Standard natural graphite anode products in the marketplace have a FCE of 91%. Nachu AAM provides benefits to EV and ESS manufacturers with a higher energy density cell resulting in a longer average range.

Competitive Cost

The innovative downstream processing technology developed by C4V, which requires high-purity, low-cost Nachu concentrate feedstock and the 'Mechanical Process Only' approach to produce AAM have bypassed any chemical/acid and energy-intensive thermal purification. Therefore, the overall (Capex and Opex) processing cost to produce per tonne of Magnis' AAM will be significantly reduced.

US AAM Plant and Potential Customers

The site selection process for the US Commercial AAM plant has progressed significantly with a shortlist of sites with existing buildings.

Several potential customer discussions are currently underway with tier-1 groups. Currently, the Company has a Tier-1 offtake with the world's largest Battery/EV company as announced on 21 February 2023.

Magnis Chairman Frank Poullas commented: "There is no doubt that our graphite and anode product contains key advantages in the marketplace. Producing a high-performing product minus any chemical/acid purification with a sustainable manufacturing approach allows for the competitive cost of Magnis' AAM product and puts Magnis into a strong position to be a leading CSPG anode supplier outside China."

*To view tables and figures, please visit:
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About Magnis Energy Technologies Limited:

Magnis Energy Technologies Ltd. (ASX:MNS) (OTCMKTS:MNSEF) (FRA:U1P) is involved in and has strategic investments in several aspects of the electrification supply chain including manufacturing of green credentialed lithium-ion battery cells, leading edge battery technology and high quality, high performance anode materials. The company's vision is to enable, support and accelerate the green energy transition critical for the adoption of Electric Mobility and Renewable Energy Storage.

Source:
Magnis Energy Technologies Ltd.

Contact:

Sam Spurr Niche Marketing Group P: +61 2 8585 4322 E: sam@nichegroup.com.au Frank Poullas Executive Chairman P: +61 2 8397 9888 E: info@magnis.com.au