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ASX-listed Magnis Resources has announced that Imperium3 New York has completed the acquisition of a lithium-ion battery plant for US$5 million.

With the contribution made by Magnis Resources to fund the plant acquisition, the company’s ownership in Imperium3 New York has increased to 41%.

The plant is currently housed in a facility in North Carolina and includes all operations such as slurry making, coating, cell assembly, formation and testing, 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, re-engineered and upgraded for battery production at a nominal 1 GWh scale.

This is expected to occur within the next 12-15 months.

Imperium3 New York is already working with the global leaders in automation, digital factory and robotics and
plans/design to upgrade the factory with full in-line integration and has commenced budgeting to bring operational
expenses to a minimum.

Plant re-engineering will mainly encompass incorporating Imperium3’s leading materials and processing technologies, as well as introducing additional cylindrical battery production beyond that existing for prismatic.

Imperium3 New York will work closely with its global supply chain partners to ensure reliable future production when the plant is restarted and realize maximum value capture and cost savings from the purchased equipment.

Future plant funding will benefit from the previously announced incentives package provided by the Empire
State Development arm of the New York Government. Several parties have expressed interest in participating
in funding to bring this plant into production.

“Our battery plant build in New York is progressing with excellence and is demonstrating both quality and pace. The Imperium3 consortium is one of only a few new players moving towards capability and production at a GWh scale. Finalising the recent purchase of equipment has provided another pivotal opportunity for Magnis enabling an increasing share of a plant that will be in production next year,” comments Magnis Resources chairman, Frank Poullas.

“Additionally, the economics of our technology continues to enhance the proposition. With cobalt prices over
US$81,000/ton, our technology demonstrates strategic value given it does not use any cobalt in the process and
exhibits outstanding performance and longevity characteristics,” he adds.

“New York Battery & Energy Storage Technology Consortium congratulates Imperium3 on this strategic acquisition and accelerating the schedule toward the completion of its new battery gigafactory in New York’s Southern Tier. The battery and energy storage industry is rapidly growing across the globe as these technologies are increasingly used in the transportation, electric grid and portable electronics sectors. Imperium3’s new plant illustrates that New York is well-positioned to attract new manufacturing and grow jobs in the energy storage industry,” states executive director Dr William Acker.

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