Magnis Energy Technologies Ltd (ASX:MNS, OTCQX:MNSEF) has achieved a project completion rate of 63% at the iM3NY Battery Plant based in Endicott, New York, of which the company is a major shareholder.
The iM3NY team had collaborated with EPC contractor Ramboll throughout the month of February with several mechanical, civil, and electrical works completed.
Notably, Magnis has received positive feedback from potential customer evaluation to date and has recorded zero safety incidents for the month of February.
Looking ahead, the company is on track to begin fully automated production in June quarter this year.
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“On track”
Commenting on the progress, iM3NY CEO Chaitanya Sharma said: “We are working around the clock to meet our target which is on track to begin fully automated production in the next quarter.
“Potential customers and investors are coming in every week and discussions keep progressing.”
Milestones
Magnis has delivered significant progress at iM3NY during February with several key works completed and progressed during the course of the month.
Items completed during February 2022:
- shaft wall in anode/cathode mixing room;
- anode and cathode mixing rooms roof and deck structure;
- CMU installation for anode and cathode mixing rooms;
- pre-action sprinkler system in Cell Assembly dry room;
- installation of low bay utility rack piping above cell assembly dry room;
- installed air return walls in Cell Assembly dry room; and
- installed AHU-1 and AHU-2 on anode mixing room roof.
Items progressed during February 2022:
- began installation of AHU support platform;
- began installation of office space support steel;
- continued installation of piping on high bay utility rack;
- continued insulation of chilled water and steam piping;
- continued installation of supports and conduit from switchgear 3 to power distribution panels;
- began installation of power distribution panels in high and low bays;
- dry rooms: continued installation of cell assembly wall panels; and
- began installation of lights, HEPA filters, and ceiling tiles in cell assembly dry room.
Furthermore, two new hires were made during the month with vacancies for another eleven new positions.
Potential customer evaluation programs
Magnis had started semi-automated production at the end of December with batches of full-sized cells produced.
Encouragingly, cells have been provided to potential customers and feedback to date has been very positive as these customers continue to evaluate the product.
Moving forward, It is expected during the next quarter that further binding sales agreements will be executed.
Magnis chairman Frank Poullas said: “The shortage of cells in the marketplace continues to grow - coupled with the increases in nickel and cobalt prices, timing could not be better for production in 2022.”