Magnis Energy Technologies Ltd (ASX:MNS, OTCQX:MNSEF) has made strong progress at its subsidiary Imperium3 New York Inc's (iM3NY) battery plant based in Endicott, New York, recording a 57% completion rate at the end of January.
iM3NY continued its semi-automated production at the plant with multiple batches of full-sized cells produced to date.
Looking ahead, the company is targeting full automated production for the iM3NY plant – on track for delivery next quarter.
Gigawatt hour production
Magnis chairman Frank Poullas said: “Significant progress continues on all fronts as the project ramps up towards gigawatt-hour production.
“The iM3NY team is working with investors, looking at funding the next stage above 10GWh of annual production."
Recent milestones
The Imperium team has collaborated with EPC contractor Ramboll throughout the month of January with several mechanical, civil and electrical works completed.
In addition, five new hires were made during the month with vacancies for another thirteen new positions now open.
Notably, there were zero safety incidents in January.
Transition to fully-automated production
Timeline of various production stages
Semi-automated production started at the end of December with batches of full-sized cells produced.
iM3NY CEO Chaitanya Sharma said: “We have started the year strongly and we are currently on track to begin fully automated production in the next quarter.
“We have noticed the interest from potential customers increase dramatically since we started semi-automated production and we look forward to providing regular updates to all stakeholders.”