BAE Systems And Consolidated Edison Join CV4 On Extra Fast Charging Technology As Nyserda Provides Grant

Magnis Energy Technologies Limited (“Magnis”, or the “Company”) (ASX:MNS) is pleased to announce that NYSERDA has provided a US$175,000 grant for an Extra Fast Charge (“EFC”) demonstration program which is looking at utilising the technology for public transit in New York State with Electric buses. Magnis Partner, Charge CCCV, LLC. (“CLIV”), will produce and deliver batteries using its patented technology for this program.

Magnis Chairman Frank Poullas commented: “Following our announcement last week on our initial exciting results for EFC using an unoptimised cell, today we are able to announce that our technology partner CLIV is working with the likes of BAE Systems and Consolidated Edison who are both worth approximately US$25 Billion on a program that has received a grant from New York State to look at utilising EFC technology for a future all electric New York State bus fleet.”

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