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Magnis Energy Technologies signs agreement with Tesla

Magnis Energy Technologies signs agreement with Tesla

Australian lithium-ion battery company Magnis Energy Technologies has entered into a three-year agreement with Tesla for the supply of Anode Active Materials (AAM).

Under the agreement, Magnis to supply a minimum of 17,500 tonnes per annum (tpa) of AAM with a maximum of 35,000 tpa beginning February 2025, for a minimum term of three years and at a fixed price.

The agreement is conditional on Magnis securing a final location for its commercial AAM facility by 30 June 2023, producing AAM from a pilot plant by 31 March 2024, commencing production from the commercial AAM facility by 1 February 2025, and customer qualification.

Next steps will see Magnis in the process of selecting a United States location for the AAM facility.

The development of Pilot Plant facilities for both Nachu (Tanzania) Graphite concentrate and AAM has commenced with equipment orders initiated and new hires recently appointed.

Technical aspects of producing AAM using Nachu graphite concentrate have been developed over a seven-year period at facilities based in New York.

The materials have been developed with environmentally sustainable processes that do not need any chemical or thermal purification.

“We are really excited to bring our high performing AAM to market that requires no chemical or thermal purification throughout the whole process, which differentiates this sustainable material in the market and provides great value to all parties,” said Magnis Chairman Frank Poullas.

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