Magnis’ Tech Partner C4V Delivered LIB Batteries To Martac

  • May 15, 2019 AEST
  • Team Kalkine
Magnis’ Tech Partner C4V Delivered LIB Batteries To Martac

Magnis Energy Technologies Limited (ASX: MNS) is an ASX listed metals and mining company based in Australia. The company has a primary focus on graphite and battery industry and owns its key graphite project; Nachu Project in Southern Tanzania.

The company aims to be one of the world's largest manufacturers of lithium-ion battery (LIB) cells and has already announced plans to build three Gigafactories, which includes factories with the production capacity of 15 GWh in Australia, USA and 30GWh factory in Germany.

On 15th May 2019, the company announced that its technology partner Charge CCCV (C4V), has supplied batteries using its proprietary BMLMP cathode technology to Martac for its unmanned water and surface vessels.


New York based C4V™ is an intellectual property company with patented discoveries and specialised skills in lithium-Ion battery composition and manufacture. It is also leveraging its expertise to create next-generation energy storage solutions that can be integrated into current cell manufacturing infrastructure. It is currently involved in multiple GWh projects.

Battery Package Design for Martac (Image Source: Company’s Report)


Martac is a provider of MANTAS line of Unmanned Surface Vehicles (USV) for security personnel, scientific missions, military etc. MANTAS is scalable in size and can be expanded from 6 to 50 feet and integrate with a wide array of sensors and communication technologies.

MANTAS success has received positive reviews orders from commercial and military customers.

Mantas T12 (Image Source: Company’s Report)

Supply of Batteries to Martac

Each lithium-ion battery delivered to Martac is 20KW in size which will be used for demonstration and testing purposes in commercial marine vessels so that they can be made more compatible under extreme conditions. These high powered and energy density batteries do not use cobalt focus on the use of higher voltage composite materials which are used in combination of higher energy anode and unique 3D electrode designs.

The generation 1 battery cells were built in prismatic form factor but delivered to Martac as a fully built battery pack to reduce the replacement. The size of these cells aligns exactly with the one iM3NY is aiming to produce commercially. Magnis owns a 47% stake in iM3NY company and NY battery plant project.

Martac is already in agreement with C4V and iM3NY under which cost and supply terms of batteries which is to be used in maritime boats is defined.

New York battery plant funding

The term sheet released on 18th March 2019, signed duly by the parties, has progressed to loan documents being received, but iM3NY's review of the documents led to some changes and new amended documents is yet to be received.

According to the current discussions with other financial institutions, three options are available to progress on the funding for the battery plant. They are full debt, full equity and a mixture of debt and equity.

Also, on 11th April 2019, the company released an update on its Townsville project.

Stock Performance

The company has a market capitalisation of A$125.28 million. The stock has 52-week high and low of A$0.445 and A$0.2 respectively. The stock closed at A$0.205, after making an intraday high of A$0.22, (as on 15th May 2019). The last one-year return of the stock is negative 47.4%, and the YTD return stands at negative 26.7%.


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