Ann: Agreement Signed With SIEMENS, page-15

It’s the formation of the MNS global consortium.

Consortium members don’t need to invest, they need to be committed members in the value chain to ensure the project is supported and thereby derisked. It’s support from these global organisations that will enable IM3 to secure further funding for NY and other battery factories moving forward.

NY is the commercial pilot for IM3 and the consortiums are only going to get bigger!

The Listrom consortium is currently being developed with a review being undertaken on the public and private companies in WIN-Emscher Lippe that are going to benefit from such a project, i.e. Germany want the entire value chain so to be in Germany for the benefit of the nation.

Siemens makes a logical fit for Magnis and IM3.

And for our resident expert Sroyle, Siemens have already advised that their involvement with Saft is primarily with automation and digitisation. Before you come and twist anything, it’s likely a similar deal with Magnis and IM3.