MNS 0.00% 35.5¢ magnis energy technologies ltd

A bit history: "The Imperium3 story begins with next generation...

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    A bit history:

    "The Imperium3 story begins with next generation technology, developed and patented by some of the energy industry's brightest and most innovative minds. Dr. Shailesh Upreti, C4V President and globally recognized energy storage expert, earned a $500,000 award in 2016 at the largest US clean-tech business competition - New York State's 76West Clean Energy Competition - for his patented advancements in LIB technology. Imperium3 has strategic rights to this patented lithium ion technology, which delivers increased capacity, longer life cycle, higher voltage, and improved safety - all at a lower cost of ownership and green manufacturing. Dr. Upreti's recognition by New York State's energy advancement agency marks the culmination of a 12-year journey in Upstate New York, including 5 years with Professor M. Stanley Whittingham on the campus of Binghamton University. Professor Whittingham, whose role in the invention of the lithium-ion battery earned him a Nobel Prize in Chemistry and election to the National Academy of Engineering, is still a mentor to Dr. Upreti.

    With industry-leading technology as it's foundation, Imperium3 has set out to deliver the future of LIB production in the US. But why upstate New York?

    Just a few miles from the campus of Binghamton University, where Professor Willingham directs the Lead Institution of the NorthEast Center for Chemical Energy Storage (a US Department of Energy Frontier Research Center,) is the village of Endicott - a small town with a long resumé, most widely known as the birthplace of IBM. Starting with "Plant No. 1" in the early 1900's, IBM's Endicott campus would become one of the world's most impressive high-tech manufacturing hubs. At its peak, the campus was home to over 10,000 employees and 3 million square feet of space dedicated to manufacturing, engineering and support operations. With the decline of US manufacturing - a trend painfully familiar to many communities across the nation - IBM's presence in Endicott has dwindled considerably over the past few decades. Left behind is a high-value opportunity zone with an unmistakable identity - acres of underutilized industrial infrastructure and a proud, talented workforce eager to usher in a new generation of high-tech manufacturing.

    Imperium3 is poised to lead the way forward, with operations already underway to repurpose 600,000 square feet of the former IBM campus for phase-1 manufacturing. The site comes equipped with onsite power plant, several million gallon/day recycling plant, on-site rail transportation access, 150 acres open for expansion, and utility supply at very competitive rates. The site's highly compatible existing infrastructure offers tremendous potential, drastically reduced set-up costs and a fast-track to a Gigafactory.

    With the stage set for a manufacturing revitalization, New York State has been eager to play host. Since Dr. Upreti's 2016 recognition by the State's Energy Advancement Agency, New York has doubled-down on clean energy investments; committing >$13.25 million to support Phase 1 of the Imperium3 project, which aligns perfectly with the NY 50-by-30 initiative. Announced in 2016 by Governor Andrew Cuomo, the initiative outlines a state mandate to achieve 50% renewables by 2030. On top of the financial incentives, New York's commitment to lead the nation in energy advancement puts Imperium3 in close proximity to e-Mobility market innovators and a sustainable, ethically-sourced supply chain.

    To further accelerate the New York project, Imperium3 purchased the factory assets of North Carolina-based battery plant Alevo in 2018. The sale, which included factory equipment with an estimated value over $200M, when restructured and lines added would have >1 GWh production capability. With most the equipment already in place at the Endicott site, consortium leaders estimate the opportunity zone infrastructure to be worth over $600M.

    The pieces are in place and the time is right, but the path forward will be challenging, and project execution is imperative. Over the past few years, Dr. Upreti has assembled a top-notch team of executives that are taking on this challenge to convert existing resources into a world-class manufacturing ecosystem. With unparalleled expertise, next-generation LIB technology, dozens of supply chain partners and the infrastructure in place, Imperium3 New York is ready to drive the US forward in the green energy revolution."
 
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