JOHANNESBURG (miningweekly.com) – ASX-listed Magnis Resources has reported that Imperium3 New York (IM3NY) placed the winning bid for the acquisition of second-hand lithium-ion battery manufacturing equipment currently located in North Carolina, in the US.
The lithium-ion battery plant assets consist of equipment from major US and European suppliers.
Over $200-million was initially invested by the previous owners into the plant, which was constructed and started full scale operations in 2016 and employed over 290 people.
The liquidation sale of the equipment occurred as the previous manufacturers constrained production to bespoke lithium-ion batteries that had limited commercial appeal, while the facility itself was equipped to manufacture large volume batteries for the auto industry or power walls for home usage which are now growing in demand.
The IM3NY team reviewed the technology and confirmed the procured plant can easily and cost effectively be calibrated for such large volume manufacturing runs.
Plant relocation, re-assembly and re-engineering for production at 1 GWh capacity is scheduled to begin immediately with the commencement of plant operations scheduled for the first half of 2019.
“This transaction is an incredible opportunity for Magnis and its IM3NY partners to purchase high-quality near-new battery plant assets for such a small outlay. In comparison to the build cost of the original plant, as well as a new plant of equivalent size, the value we have gained here is most satisfying. The battery plant equipment will allow us to get 1 GWh of production in a short period of time,” Magnis chairperson Frank Poullak said.
Magnus cofounded the acquisition, in exchange for an increased stake in IM3NY NY consortium and has raised A$5-million through a placement to assist with funding the deal.