Magnis (ASX:MNS) positioned for green answers

Newly appointed Magnis Energy Technologies Ltd (ASX: MNS) Chief Executive Officer David Taylor believes battery technology and materials are vital components of the hot “green energy” market.

Mr Taylor was named Magnis CEO in June following an extensive global search. He brings 30 years of international experience leading the development and growth of businesses and significant projects across the renewables, energy, property, construction, transport, environmental and social infrastructure sectors.

That makes him a perfect fit for Magnis, which is building a lithium-ion battery production business for the electrification supply chain while progressing a sizable graphite mining operation in Tanzania.

Speaking shortly after officially taking up his new role in August, Mr Taylor said Magnis’s strategic positioning has seen the company do things a little differently.

“Many Australian investors are likely well attuned to exploration and development companies providing a resource of critical minerals to supply the emerging battery technology space,” Mr Taylor said.

While this is undoubtedly important, it is also vital to understand that battery cathode and anode producers have particular requirements for the materials they use, influencing production decisions.

“Magnis, which is commencing commercial production at its joint venture battery plant, is well attuned to the constraints placed on downstream manufacturers.”

These lessons have seen the company carefully partner with battery specialists and influence activities at our Tanzanian project.

“It would be remiss of me not to mention Magnis’s experienced and diverse board, who bring broad sector experience across many different industries, capable of guiding the future long-term strategy of the company.“

The company’s US-based subsidiary Imperium3 New York, Inc (iM3NY) operates a gigawatt-scale lithium-ion battery manufacturing project in Endicott, New York.

Magnis and its joint venture and technology partner, Charge CCCV LLC (C4V), are the major shareholders in iM3NY, which has recently commercialised C4V’s patented technology to produce green credentialed lithium-ion battery cells.

Magnis also has a minority stake in C4V and has exclusively licensed its anode processing technology intending to produce high-performance anode materials utilising very high-purity natural flake graphite concentrate feedstock from its Nachu Graphite Project in Tanzania.

Mr Taylor said the company’s vision is to enable, support and accelerate the green energy transition critical for adopting electric mobility and renewable energy storage.

Undoubtedly, this is one of the world’s most dynamic markets.

According to the International Energy Agency, global sales of electric cars doubled in 2021 to a record 6.6 million and are firming for another ground-breaking year in 2022.

Extra Fast Charging Batteries

Further downstream, Magnis recently revealed significant results from its Li-ion technology partner C4V’s extra fast charging battery programme, testing 7 amp hour commercial graded cells.

These cells are developed using bio-mineralised lithium mixed metal phosphate (BMLMP) technology, which delivers superior battery life with fast charge capabilities while containing no nickel or conflict metals such as cobalt and is patented by C4V.

The 7 amp hour extra fast charging programme, which commenced in early 2022, tested the cells with a 20-minute charge and 20 minute-discharge process.

Earlier results from an initial fast charge assessment led to C4V introducing a unique step in its battery manufacturing process without changing any cell components or design. The unusual step was implemented to enhance the battery cycle life.

The EFC results have been fascinating to date, with only a three per cent initial capacity loss after more than 2600 cycles.

The plan is to take this programme to over 3000 cycles and then run new programmes at higher charging currents to achieve a 10-minute charge and then on to a 6-minute account.

NACHU GRAPHITE PROJECT

Complementing the exciting battery production activities, Magnis recently completed an update to its 2016 Bankable Feasibility Study for its Nachu graphite project in Tanzania. They confirmed the project continues to demonstrate strong financial and technical viability.

“The update to the BFS demonstrates that the Nachu Graphite
The project represents one of the best graphite production opportunities
in today’s market,” Mr Taylor said.

“The project will produce a high quality, sustainable product that
requires minimal purification, placing Magnis in a strong competitive
position relative to others in the market.

“Our high purity graphite concentrate will provide lithium-ion battery
manufacturers and other industrial customers with an attractive and
competitive alternative to current sources in the global market.

“With existing offtakes in place, and discussions with other major
offtakers in key sectors well advanced, we are confident that
the project will be strongly supported by project funders.

Initial discussions with funders have commenced, and we have received positive responses in relation to the overall bankability and the attractiveness of the project.”

ESG AN INCREASING FOCUS

Mr Taylor says an essential foundation of the Magnis business is its focus on ESG credentials and meeting sustainability commitments.

“In terms of the environment, we’re really focused on producing some of the greenest and most sustainable products in the world.

“For example, our cell manufacturing plant in New York is predominantly powered by renewable energy.

“We’re also focussed on revitalising the community.

“The Endicott facility is actually the former IBM campus and there is a lot of local technology experience in the area which we are keen to leverage.

“Meanwhile at both New York and Tanzania we are fixated on minimising waste, recycling a lot of the products that come out of the actual process.

“We’re committed to making a positive impact in the communities that we operate. And this is no better demonstrated by the work that we’ve been doing in Tanzania as part of the Nachu project to support improvements in housing, in education and also in skills development.”

With several big news announcements likely on its mining and technology developments, Magnis is a company to follow.

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