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

MAGNIS ENERGY TECHNOLOGIES LTD

(MNS)
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Magnis Resources Limited : - Working Solid State Battery Produced and Unveiled at Battery Conference in New York

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10/04/2018 | 08:27am EDT

Magnis Resources Limited ('Magnis' or the 'Company') (ASX: MNS), to be renamed Magnis Energy Technologies Ltd (subject to shareholder approval), is excited to announce that its partner Charge CCCV (C4V) has completed production of a working prototype of a Solid State Battery which was demonstrated at the 2018 NYBEST Conference in New York by C4V.

C4V Solid State Battery Production

C4V's new Solid State Battery, replaces more than 80% of the liquid electrolyte with a solid electrolyte. This effectively produces a lower cost battery that is higher capacity, higher density, higher performance, and with significantly reduced charging times than existing battery solutions. Further, C4V's battery does not require cobalt which contributes to the reduction of costs and an increase in scalability of production without metals supply constraints.

The prototype Solid State Battery demonstrated in New York has volumetric capacities of 380Wh/kg and 700 Wh/L which is expected to increase to 400Wh/kg and 750 Wh/L through optimisation over the coming months prior to production for commercial availability by Q2 2019.

As an example of the capabilities of this battery in current implementations, the C4V Solid State Battery will be capable of delivering a 70% increase in range for electric vehicles when compared to other batteries, allowing an electric car with a current 400km range to be able to run 680km on the same single charge.

C4V is working alongside commercial supply chains to further refine and optimise compositions, chemical structure, particle morphologies, and electrode processing techniques to develop solutions for tailored applications including electric vehicles, grid backup solutions, aviation, and portable electronics.

Commentary

C4V President Shailesh Upreti commented: 'We are very excited about our developments in moving to a production- ready Solid State Battery design. C4V has taken a commercial approach in its development process for its next- generation product. C4V's new Solid State Battery is drop-in ready, reducing disruption on the manufacturing floor, whilst reducing production cost and increasing production quality.

'C4V continues to work closely with our strategic partners, including Magnis, as well as our established supply chain partners to bring C4V's latest innovation to market.'

Magnis Chairman Frank Poullas commented: 'This is one of the world's first Solid State Batteries to be produced. Volkswagen Group recently invested US$100 Million into US-Based QuantumScape which is yet to publicly produce a prototype and is targeting Solid State Battery production in 2025. The investment by Volkswagen valued QuantumScape at over US$1 Billion.'

'Our technology continues to gain serious interest and we look forward to announcing further developments in the coming quarters.'

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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NameTitle
Marc Vogts Managing Director & Non-Executive Director
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