New York Lithium-ion Battery Plant Begins Commercial ProductionPress Release | 08/12/2022

August 12, 2022
OTC Disclosure & News Service

Magnis Energy Technologies Ltd ("Magnis", or the "Company") (ASX: MNS; OTCQX:
MNSEF; FSE: U1P) is very pleased to announce that Commercial Production has
commenced at the Imperium3 New York (iM3NY) Lithium-ion battery manufacturing plant
in Endicott, New York. Magnis along with its joint venture and technology partner Charge
CCCV LLC (C4V) are the major shareholders in iM3NY.

  • Commercial production has commenced at the iM3NY New York Lithium-ion
    Battery Plant based in Endicott, New York
  • Factory floor is approximately 22,000sqm which exceeds three professional
    football/soccer fields
  • Initial production of several thousand cells expected in the next month which
    will ramp up to 15,000 cells/day as production scales up to an annual
    production rate of 1.8GWh
  • First few weeks of production will be tested for quality assurance before sales
    start with first revenues expected in late September
  • Green credentialed batteries produced to use C4Vs BMLMP Cathode
    Technology which DOES NOT contain nickel or conflict metals such as cobalt
  • Green hydroelectricity will be used for production
  • Future plans to increase annual capacity to 38GWh by 2030

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Magnis Resources Ltd. published this content on 12 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 August 2022 13:54:08 UTC.