Magnis Energy Technologies Limited (ASX:MNS) Quarterly Activities Report

Magnis Energy Technologies Ltd (ASX:MNS) (FRA:U1P) (OTCMKTS:MNSEF) is pleased to present its Quarterly Activities Report and overview of operations for the period ended 31st March 2022 ("Quarter", "Reporting Period").

Highlights

- At the end of March 2022, Imperium3 New York LLC ("iM3NY"), continued to make progress towards fully automated production at its Lithium-ion battery manufacturing facility located in New York State.

- Magnis' Lithium-ion technology partner, Charge CCCV LLC ("C4V"), has produced exciting results in their Extra Fast Charging ("EFC") battery program with 7Ah (Amp hour) commercial cells.

- Post the quarter end, iM3NY closed an Intellectual Property-based Financing for US$100 million which will be used to lower the cost of capital and fast-track expansion.

- C4V recently launched their latest lithium-ion battery cell to pack technology, LiSER - a platform for lithium-ion battery cell design.

- Global engineering consulting firm Ausenco has been hired to begin updating the previous 2016 Bankable Feasibility Study for the Nachu Graphite Project.

- Construction begins on Eco-village resettlement housing village.

- Corporate Social Responsibility programs continue as the Chunyu Mtumbuni Primary School project nears completion.

- Magnis welcomes two new Directors to the board as well as Group General Counsel and Company Secretary.

- Magnis Energy Technologies Ltd joins the S&P Dow Jones ASX All-Ordinaries Index.

*To view the full Quarterly Report, please visit:
https://abnnewswire.net/lnk/91X25765

Frank Poullas
Executive Chairman
Ph: +61 2 8397 9888
www.magnis.com.au