Magnis Energy Technologies (ASX:MNS)
, which aims to become a leading producer of next-generation green-credentialled lithium-ion battery (LIB) cells, has achieved positive results in its fast-charging battery program.
Magnis were using optimised commercial multilayered 1.6Ah pouch cells with BMLMP technology. The results showed 75 per cent retention following 2513 cycles with 30 minute charge and 30 minute discharge. The optimised cells maximise energy efficiency, battery life and safety, and are within 99 per cent energy density of a regular energy cell.
The $225 million company have been on a slow downturn since May. The company intend to continue putting more electric cars on the road and replace fuel.
Magnis business partner Charge CCCV (C4V) are at the forefront of the technology development, with a focus on low costs and a sustainable supply chain.
Shares in Magnis (ASX:MNS)
are trading 0.75 per cent higher at $0.27.