Magnis Energy Technologies

About

Magnis Energy Technologies is an Australian graphite producer operating the Nachu mine in Tanzania, a Townsville battery plant, and owning Imperium3 New York supplying energy storage systems for lithium-ion batteries.

Mission

Magnis Energy Technologies is an Australian graphite producer participating in the lithium-ion battery industry. The company secured A$20 million (about $14.7 million) from two U.S.-based investors to fund expansion in the lithium-ion battery sector. A$13 million of the funds will be invested into its majority-owned energy storage systems provider, Imperium3 New York, to assist with a potential listing on Nasdaq or the New York Stock Exchange. Part of the investment will also be used to advance work at the Nachu graphite project in Tanzania and at its Townsville battery plant. The company is positioning itself amid rising raw-material prices and robust demand in the lithium-ion battery sector. Graphite and lithium, which Magnis works with, are considered critical minerals used in electric-vehicle batteries and other applications.

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