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MarketScreener Homepage  >  Equities  >  AUSTRALIAN SECURITIES EXCHANGE LIMITED  >  Magnis Resources Ltd    MNS   AU000000MNS3

MAGNIS RESOURCES LTD (MNS)
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Magnis Resources Limited : - Joint Development Agreement Signed with Electric Hypercar Manufacturer, Dendrobium

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09/19/2018 | 03:18pm CEST

Magnis Resources Limited ('Magnis' or the 'Company') (ASX: MNS) has signed a four party Joint Development Agreement (JDA) along with Dendrobium Automotive Limited (DAL), Dendrobium Advanced Technologies Limited (DATL) and Charge CCCV LLC (C4V) to produce the next generation high performing batteries including semi-solid state batteries.

Joint Development Agreement

Under the agreement, a working group has been created to develop and produce the next generation high performance batteries using technology developed by C4V and Magnis. Areas of co-operation include battery packaging solutions, battery hybrid systems, battery management software, battery performance testing and battery development materials.

C4V's Generation II and semi-solid state battery technologies are targeted for DAL. C4V has been at the forefront of developing and acquiring technologies that are drop-in to existing supply chains as well as manufacturing footprints to improve performance and reduce cost to make them commercially viable.

Dendrobium Automotive and Dendrobium Advanced Technologies

DAL is an electric vehicle (EV) and plug-in hybrid vehicle ('PHEV') development and production company with an all- electric hypercar (D-1), which was engineered to an advanced concept stage by Williams Advanced Engineering Limited part of the Williams Formula1 Group, to demonstrate its advanced technologies through dynamic performance.

DATL is an advanced engineering company specialising in performance technology and component design and development including battery development and packaging systems for EV's and PHEV's.

Commentary

Dendrobium CEO Nigel Gordon-Stewart commented: 'Dendrobium will be producing high performance vehicles and electric drivetrain solutions for third parties so today's agreement is impressive and a great step forwards for us. We are blown away by the battery performance that Magnis and C4V can produce and we look forward to working together to produce high performing quality batteries setting the bar for future EVs and PHEVs.

Magnis Chairman Frank Poullas commented: 'Today's announcement is exciting for Magnis and testament to our technology. To work with groups like Dendrobium, who have been developing their e-hypercar with Williams Advanced Engineering and who are at the cutting edge of EV performance engineering, is something that is thrilling for Magnis, its partners and shareholders alike.'

C4V President Shailesh Upreti commented: 'Fine-tuning molecules to bring system level advantage or vice-versa is the key strength of C4V's technology platform. Working directly with OEMs such as Dendrobium to resolve system level challenges while engineering molecules to deliver customized and cutting-edge lithium-ion battery cells is C4V's core strategy. This agreement also demonstrates how electrochemists, scientists, engineers, mining and automotive experts need to work together as a team to develop next generation products for the rapidly evolving EV market. C4V is very excited to collaborate with one of the finest multidisciplinary team members through this agreement.'

Contact:

Travis Peluso

Tel: +61 411 404 814

Web: www.magnis.com.au

(C) 2018 Electronic News Publishing, source ENP Newswire

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Financials (AUD)
Sales 2019 54,2 M
EBIT 2019 22,5 M
Net income 2019 -
Debt 2019 -
Yield 2019 -
P/E ratio 2019 -
P/E ratio 2020
Capi. / Sales 2019 3,32x
Capi. / Sales 2020 1,09x
Capitalization 180 M
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Number of Analysts 1
Average target price 1,25  AUD
Spread / Average Target 324%
Managers
NameTitle
Frank Houllis Chief Executive Officer
Frank Poullas Non-Executive Chairman
Rodney J. Chittenden Head-Operations
Megan McPherson Chief Financial Officer
Johann Christiaan Jooste-Jacobs Independent Non-Executive Director
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