MNS 0.00% 4.2¢ magnis energy technologies ltd

US DOE Funding Update, page-55

  1. 1,110 Posts.
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    Also had been looking (albeit very quickly) around to see if there are many more of these early stage smaller companies building gigafactories with out JV's going solo etc looking at listing somewhere. And came across these guys in UK BritishVolt who announced late last year that they were looking to list this year over in London.

    They were looking to build a £3.8bil gigafactory in the UK. There were talks at first Nissan might jump in with them but decided against so they were forced to go solo.

    Fast forward 12 months and now out of cash and are having emergency funding talks and that they'll collapse if they don't get any funds by Christmas

    They had a planned £100mil government grant..... They also had signed agreements with Aston Martin and Lotus..... They had recently appointed former Ford Chairman as (interim) CEO - probably only as interim due to the companies uncertainty going forward

    Not saying im3ny can't be a success story but there is always a chance that this kind of situation could play out when you're in this space
    Last edited by ogloko: 21/10/22
 
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