Magnis Resources Ltd (ASX:MNS) has received support and a funding package for the stage 1 production at New York State’s first lithium-ion gigafactory to be located at Huron Campus in upstate New York.
The gigafactory is to be built by a consortium of companies including Magnis, Charge CCCV (C4V), Boston Energy and Innovation, C&D Assembly and Primet Precision Materials.
A joint manufacturing establishment agreement was signed in May 2017 for a 15 GWh (gigawatt hours) lithium-ion battery plant.
The recent finalisation of the scoping study priced the capital costs for Stage 1 at US$130 million with an expected first production date in the second half of 2019.
The first stage production will be at 3 GWh with a ramp up to 15 GWh.
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