Sydney, Australia -
Magnis Energy Technologies Ltd. (ASX:MNS) (FRA:U1P) (OTCMKTS:MNSEF) is very pleased to announce the signing of a legally binding offtake agreement ("Offtake Agreement") with Traxys Europe SA ("Traxys"). The Offtake Agreement provides for the future delivery and sale of high-quality, high purity natural flake graphite from Magnis' wholly owned Nachu Graphite Project located in South-East Tanzania.
Traxys Managing Director Kevin Smith commented: "We have been keenly interested in the high purity graphite produced from Nachu for several years. There is a huge demand from lithium-ion battery producers for all battery materials including graphite and being able to produce a battery grade anode product via mechanical processes only is a very unique feature of Nachu Graphite. We are excited to be partnering with Magnis on this important project". Magnis Chairman Frank Poullas commented: "We are really excited to have signed the binding offtake with a group of the calibre of Traxys which is a supplier of materials to many industries including lithium-ion battery manufacturers. Today's announcement follows months of providing flake graphite samples from Nachu and is a major step in securing funding for Magnis' Nachu Graphite Project."
About Traxys
Headquartered in Luxembourg, Traxys is a physical commodity trader and merchant in the metals and natural resources sectors. Its logistics, marketing, distribution, supply chain management and trading activities are conducted by over 450 employees, in over 20 offices worldwide, and its annual turnover is in excess of USD $7 billion.
Traxys is engaged in the sourcing, trading, marketing and distribution of non-ferrous metals, ferro-alloys, minerals, industrial raw materials and energy. The Traxys Group serves a broad base of industrial customers and offers a full range of commercial and financial services.
Traxys, a privately held company, is owned by Traxys' management team, The Carlyle Group (NASDAQ:CG), and affiliates of Louis M. Bacon, the founder of Moore Capital Management, LP, and Moore Strategic Ventures, LLC, Mr. Bacon's privately held investment company.
To view full terms of the offtake agreement, please visit:
https://abnnewswire.net/lnk/83209078
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:
Frank Poullas Executive Chairman Ph: +61 2 8397 9888 www.magnis.com.au
