Magnis Energy in battery factory milestone

Magnis Energy has completed detailed engineering and pre-work on its prop[osed New York lithium-ion battery plant.

The Sydney company, which is also financing development of a $2 billion lithiun-ion battery gigafactory in Townsville (pictured), has completed engineering and process design work on the plant.

Cost estimation has been completed and discussions are underway with three prospective project financiers.

Magnis told investors that Dutch engineer Ramboll Group and battery partner C4V performed the engineering work, while a large independent consulting firm completed the financial, technical and business due diligence of the New York plant, known as iM3NY.

Magnis chairman Frank Poullas said there had been some delays in development due to the Covid-19 pandemic.

“The emerging thematic of national security through domestic manufacture has generated new interest for government and (the) investment community.”

The Townsville battery plant proposal is being developed by Imperium3.

In October the company lodged its feasibility study with the Queensland government for the an 18GWh factory to be built in three stages.

Picture: Magnis Energy

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