Magnis Resources Limited (ASX: MNS) announced on October 2 that its partner C4V (Charge CCCV) has produced prototypes of solid-state batteries, which will be demonstrated at the NYBEST conference in New York in 2018.
In addition, the Magnesia Resource Plan has been renamed Magnis Energy Technologies Ltd and is currently subject to a board vote.
C4V has developed one of the world's first working prototypes of batteries, which will be demonstrated at the 2018 NYBEST conference in New York. The battery capacity is currently 380Wh / kg and 700Wh / L, and is expected to be further optimized to reach 400Wh / kg and 750Wh / L.
The company plans to begin commercial production in the second quarter of 2019. The new battery has the characteristics of reducing production costs, not relying on cobalt, reducing constraints, and can be produced in large quantities.
The Magnesian Resources Transformation Battery Production Company is not unexpected. At the end of last year and the beginning of this year, the company began to invest in IM3NY (Imperium3New York) in the United States, and purchased factory equipment and raw materials from the United States and Europe. At the same time, battery plant funding has benefited from a stimulus package from the National Development Agency of the New York government.
After Magnesia Resources completed the strategic deployment of IM3NY, it cooperated with C4V (ChargeCCCV). Magnesia Resources increased its stake to 41% with a price of 5 million. IM3NY's signature technology is cathode technology, which is a cobalt-free battery production technology. It is worth noting that in March, Magnesia Resources was suitable to cooperate with Siemens, and the cobalt price was as high as more than 80,000 US dollars. The amount of cobalt and the price of cobalt have been criticized for a long time. There are not many cobalt-free technologies on the market. It is worth looking forward to how far Magnis can develop.