Magnis Energy Technologies Limited provided an update on activities at the iM3NY Battery Plant based in Endicott, New York. The company is the major shareholder of the project. Project Status and Recent Milestones: Overall project completion rate is at 51%.

Facility customisation work continues to gain momentum with the completion of the epoxy coating in the main dry room along with the flooring and walls in the mixing rooms. The iM3NY team has collaborated with Ramboll throughout the month of December to continue working through crucial design feed information as well as review the IFB Drawing Packages and the subsequent proposals. During the month mechanical, civil and electrical works were completed with progress was made on internal and exterior works, the cathode and anode mixing rooms, cell assembly dry room, high bay dry room and the electrical sub-station. There were zero safety incidents in December.

Semi-Automated Production: Semi-Automated production started at the end of December with a batch of full-sized cells were produced. This is an important phase where batches of cells are being produced for both marketing and due diligence purposes. A batch of over 1,000 cells being produced in the next fortnight and volumes will continue to increase all the way up to fully automated production in first half of 2022.