Ann: US$52M Term Sheet Signed for New York Battery Plant, page-12

They do not need any more money to get the 1+GWh into production. It mentions that in the announcement and is also in line what what was said at the AGM.

Its seems the average cost stated online to get 1GWh of cell manufacturing into production is US$250M. This includes buying the land, constructing a suitable building with all the services required, the machines etc etc.

Magnis/IM3 already has the land and building setup for high tech manufacturing and the majority of cell manufacturing machinery on hand. I imagine the US$22M of the US$52M total will cover additional machinery for cylindrical cell production and cost to re-assemble/re-configure the machinery already owned to get production underway.

We should end up with a US$250+M complete cell and pack manufacturing facility in production for around US$59M (US$5M for the 200M of Alevo machinery plus the US$52M loan for the rest)

Great announcement today! Very happy.

All IMO & DYOR

Looking forward to further updates on the other sites/projects