Ann: Magnis Secures $11.1M Investment, page-51

"Magnis is pleased to have attracted such a quality cornerstone investor in ALC. ALC is the private investment arm of Aqualand Group which has established itself as a leading property development company. It has generated a portfolio with a collective gross development value exceeding A$5 billion. ALC is closely assessing the energy requirements of current and future communities and it regards lithium-ion battery technology as an energy source that has the capacity to deliver lower cost energy to these sites."

Some of the comments above were without any anlytical merit. Either people don't read or are very selective in their reading. They only read the parts that will help them to prove their point.
As a non-holder (yet), what I understood is that this is a long term partnership. Apart from having a deep pocket, ALC is also interested in the technology. So when the giga factories are built, Magnis has a client with strong partnership. This could prove to be a win win for both parties. Having a board member from ALC will only silidify the relationship and ensure that the BOD are fast tracking the projects.