Sydney, Australia - Magnis Energy Technologies Ltd.
(ASX:MNS) (FRA:U1P) (OTCMKTS:MNSEF) 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.
Project Status and Recent Milestones
Overall project completion rate is at 57% at the end of January.
The Imperium team has collaborated with EPC contractor Ramboll throughout the month of January with a number of mechanical, civil and electrical works completed. Progress was made on several key items.
Five new hires were made during the month with vacancies for another thirteen new positions.
Completed Items during January 2022
- Installed cathode mixing room rebar and poured slab
- CMU installation for anode and cathode mixing rooms
- Installation of low bay utility rack piping above cell assembly dry room Cell assembly dry room system
- Installation of cathode coating line equipment.
- Installation of meier drying ovens
- Installed filling dry room steel structure
- Installed cell assembly drop ceiling grid mains
Items progressed during January 2022
- Equipment leveling slabs in cathode mixing room
- Shaft wall in anode/cathode mixing rooms
- High bay utility rack
- Utility rack at south wall of high bay
- Anode mixing room steel roof structure
- Piping on high bay utility rack
- AHU ductwork installation above mixing rooms
- High bay duct work
- Chilled water and steam piping
- Pre-action sprinkler system in cell assembly dry room
- Cell assembly wall panels
Semi-automated production started at the end of December with batches of full-sized cells produced.
To date the response from a technical and performance aspect has been positive.
iM3NY CEO Chaitanya Sharma commented: "We have started the year strongly and we are currently on track to begin fully automated production in the next quarter."
"We have noticed the interest from potential customers increase dramatically since we started semi-automated production and we look forward to providing regular updates to all stakeholders."
Magnis Chairman Frank Poullas commented: "Significant progress continues on all fronts as the project ramps up towards gigawatt hour production."
"The iM3NY team is working with investors, looking at funding the next stage, above 10GWh of annual production."
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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.
Magnis Energy Technologies Ltd.
Frank Poullas Executive Chairman Ph: +61 2 8397 9888 www.magnis.com.au