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Queensland stumps up $3m for Magnis’s lithium battery...

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    Queensland stumps up $3m for Magnis’s lithium battery gigafactory

    2 hours ago

    2 hours ago | Angela East


    Graphite miner Magnis Resources has been handed a $3.1 million cheque from the Queensland government to help build a battery “gigafactory” in the state.
    Gigafactory, a term coined by Elon Musk’s Tesla, refers to huge factories that make lithium batteries that power electric cars.
    Gigafactory refers to a facility’s annual production capacity in gigawatt-hours (GWh). One GWh is the equivalent of generating 1 billion watts for one hour.
    The Queensland grant, which was awarded to Magnis subsidiary Imperium3, will fund a feasibility study for a 15-gigawatt (GWh) lithium-ion battery plant in Townsville.
    Magnis’s wants to build three gigafactories — but test data released in July shows it still has a way to go in battery making.


    https://unauthorised investment advice/resources/queensland-stumps-up-3m-for-magniss-lithium-battery-gigafactory/?utm_medium=email&utm_campaign=Lunchtime ASX small cap wrap Monday Aug 27&utm_content=Lunchtime ASX small cap wrap Monday Aug 27 CID_538df61a866129e4840f5b95755a6f85&utm_source=Campaign Monitor&utm_term=Queensland stumps up 3m for Magniss lithium battery gigafactory
    Last edited by birdman29: 27/08/18
 
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