Press Release

Major success in extra fast-charging battery program advances to optimized commercial cells

Magnis Energy Technologies Limited (“Magnis”, or the “Company”] is very pleased to announce that the game-changing results announced on 24 July 2020 for EFC batteries have progressed with a decision made to commence the program on optimized commercial cells developed by Magnis partner, Charpe CCCV, LLC. [“CCV“].

Highlights: 

  • Following the ongoing success of Extra Fast Charging (EFC) results using unoptimised cells, for the next phase of Original Equipment Manufacturer (0EM) qualification, battery cells optimised for very fast charge will be used
  • Over 1000 charges have been conducted to date with capacity maintaining strength above 80%
  • EFC allows 85% charge in 6 minutes
  • A 12-month demonstration program funded by NYSERDA, which includes BAE Systems and Consolidated Edison on EFC batteries in Electric Buses begins
  • Major interest shown by overseas OEM’s

Cycling results from an unoptimised commercial size cell to date, using CCV technology, has produced exciting results, with the cycling life retention over 1000 cycles, with a 6 minute charge and 1 hour discharge. The unoptimised cell is within 99% energy density of a regular energy cell, which means minimal energy density loss for a super fast charge cell. Following the exciting results, a decision has been made to commence testing of EFC on optimised composition of commercial cells.

Magnis Chairman Frank Poullas commented: “The response from our fast charging announcement has been amazing with a number of major OEM’s contacting Magnis with discussions having kicked off.”

“Today’s announced results are another step forward in this exciting technology and we look forward to receiving the results from the commercial cell program in the near future.

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