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4.2¢ magnis energy technologies ltd

Excellent research as usual Joey. Thanks for sharing with us and...

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Trommel

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06/11/21

20:57

Post #: 57372320
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Originally posted by joeycloud: ↑

Just happened today around 3pm AEST. Plenty of news articles but here's one just for reference: disallowed/world/north-america/with-republican-help-democrats-approve-biden-s-infrastructure-bill-20211106-p596l9.html

A fellow investor has done the deep dive in a private forum into the actual Infrastructure bill which is available in its entirety on the US Congress website: https://www.congress.gov/117/bills/hr3684/BILLS-117hr3684eas.pdf

Specifically of interest to us is Pages 1412-1418, which outlines a PRIORITY Grant of $3 Billion USD for advanced battery manufacturers that use a US-centric supply chain. IM3NY will be fully eligible for $100 million USD per project (i.e. factory locations), which is a massive subsidy for their ambitions to grow exponentially towards 32GWh. I have screenshot and highlighted the pages and lines relevant I think are most relevant/exciting, but feel free to check out the entire bill yourself in case there are other sections that might be also relevant to us:

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Excellent research as usual Joey. Thanks for sharing with us and pointing out the relevant parts from the bill

MNS Price at posting: 61.0¢ Sentiment: Buy Disclosure: Held
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