Magnis has executed a letter of intent for the Phase 1 anode active materials commercialisation facility in the US Southwest.

The site was a key contender that was selected from amongst the sites undergoing an advanced review along with shortlisted sites in the Midwest and Southeast regions.

Considerations for its selection from other shortlisted sites by Magnis Energy Technologies (ASX:MNS) were proximity to logistics and key offtakers.

All shortlisted sites had already satisfied evaluations for size, power, and infrastructure requirements, along with expansion possibilities.

The company is now negotiating incentives and support packages with the local, state, and federal government agencies.

“Magnis is pleased to make this update announcement. Within the limits of our NDAs, we are pleased to share that this hallmark project is immensely welcomed by the United States Federal and State teams who are deeply engaging with Magnis’ teams to ensure that Magnis’ US footprint is well equipped for the intended business purpose,” managing director (USA) Hoshi Daruwalla said.

“Announcing a natural graphite anode active material manufacturing facility on US soil, supported by engagements from US-friendly nations, is a significant step in Magnis’ journey and for the United States’ energy-related critical materials self-reliance.

“The appropriate associated US onshoring incentives are being discussed and negotiated.”

High performing anodes

AAM samples produced by technology partner C4V using graphite from the company’s Nachu project in Tanzania have demonstrated First Cycle Efficiency results of more than 94.4%, less than 6% ICL and a reversible capacity of greater than 355 mAh/g.

This meets and outperforms the industry standard requirements for both EVs and energy stationary storage given that standard natural graphite anode products in the marketplace have a FCE of 91%.

Higher FCE indicates a lower amount of loss in lithium when the first cycle (also known as the formation cycle in cell manufacturing) is performed on the production floor.

 

 

This article was developed in collaboration with Magnis Energy Technologies, a Stockhead advertiser at the time of publishing.

 

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

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