Magnis Energy Technologies appoints former NSW deputy premier to its board
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Former New South Wales deputy premier Troy Grant’s latest endeavour in his life after politics is as a director of battery manufacturer Magnis Energy Technologies (ASX:MNS).
Grant served in New South Wales parliament from 2011 to 2019 as the member for Dubbo. He came to politics after a career in the police force.
He was a minister for the last five years of his political career and between 2014 and 2016 was Premier Mike Baird’s deputy and Nationals leader.
Grant stood down after the Nationals’ defeat to the Shooters and Fishers party in the Orange by-election.
Since leaving politics last year he established his own consulting and advisory firm, Perspective Advisory, and this morning Grant became a non-executive director of Magnis.
While Magnis still has a battery metals project in Tanzania, the company’s primary focus is on battery manufacturing. It intends to build plants in Townsville and in New York to capitalise on anticipated demand for lithium-ion batteries.
Grant told shareholders he was “immediately drawn to Magnis and what their story and vision offered”.
“Of particular interest to me is the Magnis goal of establishing manufacturing of lithium-ion batteries locally in Australia,” Grant said.
“This holds strong appeal as it’s an opportunity to lead the charge in the resurgence of local manufactured products that are crucial to the future sustainability of our country and communities, leading to significant local economic outcomes and jobs growth.”
Magnis shares rose a modest 1 per cent this morning. While the company has risen from its COVID-19 lows, it remains well off last July’s price of 24c.