Australian company Magnis receives 350 million yuan to increase lithium battery production

by:CTECHi     2021-07-30

The funds will enable IM3NY to invest in the development of lithium batteries at the HuronCampusGigafactory plant in New York.

The Australian company MagnisEnergyTechnologies (ASX: MNS) announced that its battery company IM3NY (Imperium3NewYork) has received a funding valued at US$52 million (about 350 million yuan). Used in the production of lithium-ion batteries in the United States. Magnis owns 47% of IM3NY.

The funds will enable IM3NY to invest in the development of lithium batteries at the HuronCampusGigafactory plant in New York. The factory was previously used by IBM to manufacture high-tech equipment, covering an area of u200bu200b60 hectares, with temperature control, storage and other facilities, which can integrate new technologies. It also has a transmission-grade substation with a capacity of 50MW. The factory is currently being upgraded and will be the first site where IM3NY conducts mass production and operation of lithium batteries at three sites around the world.

Magnis chairman Frank Poulas said that the company currently plans to start battery production within 12 months before the end of the funding supply, and plans to complete the purchase contract signed within three years.

'Production is our main goal.' He said. Magnis will directly sign contracts with suppliers to integrate the sales of multiple Gigafactories.

Magnis is accelerating its shift to battery technology and plans to become one of the world's largest lithium battery manufacturers.

In terms of raw materials, Magnis has a world-class graphite deposit in Tanzania, called the NachuGraphite project, and the natural flake graphite in the SuperJumbo, Jumbo and Largeflake categories is relatively high. Because the world supply of such products is very low, the value of the Nachu project is even higher.

In terms of technology, Magnis said that it has developed the next generation of lithium battery technology to reduce costs by removing the content of cobalt or nickel in the cathode material. In October last year, Magnis also announced that its partner C4V (ChargeCCCV) has produced prototypes of solid-state batteries with battery capacities of 380Wh/kg and 700Wh/L. It is expected that further optimization can reach 400Wh/kg and 750Wh/L. The company plans to Commercial production will begin in the second quarter of 2019.

In September 2018, Magnis and Singapore-based electric supercar manufacturer Dendrobium signed a cooperation agreement for its electric vehicles (EV) and plug-in hybrid vehicles (PHEV). ) Ru0026D and production of lithium batteries.

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