Magnis Resources Announces Production to Be Fast Tracked In New York With Acquisition

Magnis Resources Limited (ASX: MNS) announce that Imperium3 New York (IM3NY) placed the winning bid for the acquisition of near new Lithium-ion battery manufacturing equipment currently located in North Carolina, USA. Magnis has completed a successful A$5.0 million capital raising to fund its share of the purchase and to increase its stake in IM3NY to a percentage level that will be disclosed on the closing of the purchase.

The Lithium-ion battery plant assets consists of high quality new and near new equipment from major United States and European suppliers. Over US$200M was initially invested by the previous owners into the plant which was constructed and commenced full scale operations in 2016 and employed over 290 people. The liquidation sale of the equipment occurred as the previous manufacturers constrained production to bespoke lithium-ion batteries that had limited commercial appeal, while the facility itself was equipped to manufacture large volume batteries for the auto industry or power walls for home usage which are now growing in demand. The IM3NY team thoroughly reviewed the technology and confirmed the procured plant can easily and cost effectively be calibrated for such large volume manufacturing runs. As a result, the Imperium3 consortium is of the firm view that this is a low risk, cost-effective and value-accretive transaction.

The plant is currently housed in a facility in North Carolina and includes all operations from slurry making to coating to cell assembly, formation and testing and even includes module assembly and packing. The equipment will now be disconnected and packed for transport to Huron Campus in New York where it will be reassembled and re-engineered for battery production at a nominal 1GWh scale.


The advice given by Kalkine Pty Ltd and provided on this website is general information only and it does not take into account your investment objectives, financial situation or needs. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people. and associated websites are published by Kalkine Pty Ltd ABN 34 154 808 312 (Australian Financial Services License Number 425376). The information on this website has been prepared from a wide variety of sources, which Kalkine Pty Ltd, to the best of its knowledge and belief, considers accurate. You should make your own enquiries about any investments and we strongly suggest you seek advice before acting upon any recommendation. Kalkine Pty Ltd has made every effort to ensure the reliability of information contained in its newsletters and websites. All information represents our views at the date of publication and may change without notice. To the extent permitted by law, Kalkine Pty Ltd excludes all liability for any loss or damage arising from the use of this website and any information published (including any indirect or consequential loss, any data loss or data corruption). If the law prohibits this exclusion, Kalkine Pty Ltd hereby limits its liability, to the extent permitted by law to the resupply of services. There may be a product disclosure statement or other offer document for the securities and financial products we write about in Kalkine Reports. You should obtain a copy of the product disclosure statement or offer document before making any decision about whether to acquire the security or product. The link to our Terms & Conditions has been provided please go through them and also have a read of the Financial Services Guide. On the date of publishing this report (mentioned on the website), employees and/or associates of Kalkine Pty Ltd do not hold positions in any of the stocks covered on the website. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s