BATTERY FACTORY INTEREST
Proponent of Townsville battery factory attracting global investment
A PROPOSED battery factory in Townsville is attracting the attention of global investors.
A listed development company yesterday told the Australian Stock Exchange of its interest in the proposed factory as well as two other similar projects in the US and Germany. Townsville City Council Mayor Jenny Hill said she was waiting on a feasibility study into the project but she was confident that study would show it was viable.
GLOBAL players are eyeing investments in the lead proponent of a proposed $ 2 billion battery manufacturing factory in Townsville.
Listed development company Magnis Resources told the Australian Stock Exchange yesterday the pro- posed Townsville factory and two others of its projects in the United States and Germany were attracting “considerable interest” from equipment manufacturers, potential strategic investors and fund managers.
“As a result, potential investors, both domestic and international, are now undertaking various forms of due diligence with a view to making an investment in Magnis,” the company said in a statement.
The company aimed to an- nounce a “definitive investment” shortly, it said.
Magnis is part of the Imperium3 consortium, which includes US technology partner Charge CCCV whose patented products are drawing global attention because of their potential to enhance the performance of electric vehicle batteries.
Magnis is now considering dual listing, either in the United States or one of the Asian markets, and is also exploring opportunities for other battery plants in Asia and Europe.
In Townsville, feasibility work has commenced and some of the project partners including tier one builder Probuild are expected to establish a presence soon.
This week Mayor Jenny Hill said she was confident studies into the Townsville project would show it was viable.
“We are still waiting for the State Government to agree to the terms for their ($ 3 million) contribution ( to the feasibility study). Once we have, then ( proponents) will press forward for the full feasibility,” Cr Hill said.
Imperium3 consists of Magnis, Charge CCCV, Boston Energy and Innovation, Eastman Kodak and C& D Assembly.
Magnis owns a 33 per cent interest in the Townsville project proposed for land owned by the council near Woodstock.
Charge CCCV was formed by researchers from New York’s Binghamton Universi- ty, who developed the lithiumion technology to be used.
Magnis chairman Frank Poullas said they were meeting all deadlines on work to develop a pilot battery plant at Huron in New York State.
“This, and the development of our two other battery plants proposed in Australia and Germany, underpins the significant interest the company is now receiving from industry and larger strategic and institutional investors,” Mr Poullas said.