New York Battery Plant Update Binding Sales Increase • Additional binding contract signed with US Government supplier for US$74 million over 4 years bringing total minimum binding sales agreements to US$729 million or nearly A$1 billion • New York Plant Status - 17.85% complete • Internal Building clear-out to be completed by 16 August 2021 • Environmental Justice Plan secured while Air Permit has been submitted and in public review phase and Aquifer Permits have been submitted • Safety - Zero incidents for months of June and July
Magnis Energy Technologies Limited (“Magnis”, or the “Company”) (ASX: MNS) is pleased to provide an update on activities at the iM3NY Battery Plant based in Endicott, New York. Magnis is the major shareholder of the project. Binding Sales Agreements
In addition to the US$655 million in binding sales agreements announced on 3 May 2021, iM3NY has been able to secure another agreement for US$74 million over 4 years with a US Government supplier. This now brings the minimum total of binding sales agreements to US$729 million or a little below A$1 billion. There are ongoing discussions and qualification processes continuing with several other potential customers.
