• Lithium-ion Battery cells producer Magnis Energy Technologies’ (MNS) extra fast-charging (EFC) battery program has advanced to optimised commercial cells
• In July, Magnis’s partner, Charge CCCV, managed to charge anelectric vehicle battery in six minutes
• Currently, over 1000 charges have been conducted, with the capacity to maintain the battery above an 80 per cent charge rate
• Following these game-changing results for EFC batteries, the company has progressed with a decision to commence a program on optimised commercial cells
• Magnis has also begun its 12-month demonstration program in New York, which will see the batteries installed on New York City bus routes
• The plan is to remove 500,000 metric tons of carbon dioxide every year from the city’s metro area
• On the market this morning, Magnis is up 2.7 per cent and is trading for 19 cents per share

Lithium-ion Battery cells producer Magnis Energy Technologies (MNS) extra fast-charging (EFC) battery program has advanced to optimised commercial cells.

Magnis’ partner, Charge CCCV’s (C4V) has developed advanced lithium-ion battery cell technology which can improve the cycling life of commercial lithium-ion batteries.

In July, C4V reported its electric vehicle (EV) battery charged in six minutes, which is a game-changer in the industry. Initial results showed that the EV battery was charged 85 per cent in just six minutes.

Following its game-changing results for EFC batteries, Magnis today announced it has progressed with a decision to kickstart a program working on optimised commercial cells.

The company says that the battery’s cycling life holds over 1000 cycles, with a six-minute charge and one hour discharge.

C4V is at the forefront of this technology and is working with commercial EV manufacturers to develop a future proof design for EFC batteries.

Several original equipment manufacturers (OEM) have expressed interest in the technology, with initial discussions undertaken in recent weeks.

New York electric busses

A New York demonstration program for a public transit technology and innovation program has begun and is being funded by The New York State Energy Research and Development Authority (NYSERDA).

This technology is slated for development in Binghamton and tested at BAE Systems before being installed across some New York City (NYC) bus routes.

The plan is to remove 500,000 metric tons of carbon dioxide every year from the Big Apple’s metro area, while also increasing energy efficiency and lowering upfront costs versus the current system.

“Consolidated Edison will be responsible for charging, with bus stops equipped with robotic arms that have the ability to reach down from the overhead electric wires and connect to the buses’ batteries to recharge them in five to ten minutes,” the company said.

Magnis Chairman, Frank Poullas, is pleased with the response from July’s announcement, with a number of major OEM’s contacting Magnis.

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

On the market this morning, Magnis is up 2.70 per cent and is trading for 19 cents per share at 11:35 am AEST.