Shares in Magnis Energy Technologies Ltd, New South Wales, Australia, (ASX: MNS) have almost quintupled since the start of June following approvals for a battery cell factory in Townsville, Queensland, Australia, and promising results from its Tanzanian graphite project, and now the group’s board has even more to be happy about, Businessnewsaus.com.au reports.
The company announced today its New York State-based partner Charge CCCV LLC (C4V) has created a “potential game changer” for electric vehicle (EV) manufacturers, with extra fast charge (EFS) battery results showing an 85 per cent charge in six minutes.
Magnis highlights Charge CCCV (C4V) has developed and built advanced lithium-ion battery cell technology that can significantly improve the cycling life of batteries, with a proprietary high-voltage bio-mineralised lithium-mixed-metal-phosphate (BM-LMP) cathode and anode using its own and Magnis’ technology.
“Fast charging is usually synonymous with batteries degrading quickly, however today’s results using an unoptimised cell are exciting and will improve further as the cell is optimised,” says Magnis chairman Frank Poullas.
“This news is highly encouraging for the global battery industry and for every EV manufacturer. To be able to charge batteries with six minutes would be a game changer and it’s comforting to know that Magnis and C4V are at the forefront of this and other battery technologies.”
C4V president Dr Shailesh Upreti says potential partners in the automobile industry have been highly encouraged by the data produced so far.
“We have commenced the demonstration program to showcase the benefits of EFC at the system level, by committing to deliver a minimum 25KWh battery pack to an EV producer with EFC capabilities,” says Dr Upreti.
“We look forward to producing further batteries with continued improvements for this fast-growing sector, with the aim to eventually deploy C4V’s proprietary technology at Giga scale in New York and Australia.”