Magnis Energy Share Price Up on Fast-Charging Battery (ASX:MNS)

By ,

The lithium battery developer and to-be graphite miner Magnis Energy Technologies Ltd’s [ASX:MNS] share price is higher today after positive news about its fast-charging battery technology.

At time of writing, the MNS share price is up 12.07%, or 3.5 cents, to trade at 32.5 cents per share.

ASX MNS Share Price Chart - Magnis Energy Technologies Ltd SharesSource: Trading View

MNS shares spiked at the end of January in the lead up to their December quarterly activities report.

Although the report was overly positive, the share price retraced some of its previous gains on its release.

Is Lithium Ready for a New Bull Run in 2021? Free report reveals three stocks that could make serious gains.

Game changing results

In their market update today, MNS announced significant results from their fast-charging battery program using commercial battery cells.

MNS said they have produced results using a commercialised cell whereby the battery retains of 93% capacity after 600 cycles with a 30-minute charge and 30-minute discharge.

Importantly, the optimised cell is within 99% energy density of MNS’s regular battery.

Meaning there is minimal energy density loss in these new fast-charging cells.

While the technological advancement may excite some, the real excitement is the commercial prospects for MNS technology.

In partnership with the New York State Energy Research and Development Authority (NYSERDA), MNS will install these battery cells in some New York City bus routes.

The plan is to use these fast-charging batteries to remove some 500,000 tonnes of carbon dioxide annually from the New York City metro area.

And increase energy efficiency whilst lowering upfront costs in relation to the current system.

Next steps for Magnis Energy Share Price

MNS’s plan is to continue to optimise their battery cell technology.

They said they now plan to more aggressively test the cells to charge within six minutes to deliver 85% charge.

MNS chairman Frank Poullas commented on the milestone:

We are really excited by this technology from Day 1 as it will be a game changer for the commercial transportation industry.

Today’s announced results are an early step forward turning this technology into a commercialised product.

MNS has other exciting projects on the go too.

Late last year MNS was given the nod of approval from the deputy prime minister for its ‘Big Battery’ technology for use in the Central West Orana Renewable Energy Zone.

Which could become a key piece of the massive disruption currently happening in Australia’s energy market.

A disruption rife with high-potential energy stocks — you can read more about that here.

Or if you’re looking to slice yourself off a piece of the $95 trillion renewable energy boom, our energy expert Selva Freigedo reveals three ways you can. Download your free report now.



Lachlann Tierney,
For Money Morning

About Lachlann Tierney

Lachlann Tierney is an Analyst for Money Morning and has been investing for nearly a decade. With a Masters of Science from the London School of Economics, he brings a sound understanding of global markets to his writing. Lachlann is interested in emerging technologies, energy solutions and helping people invest…

Magnis Energy Shares Rise On ‘Exceptional Anode Results’ [ASX:MNS]

Magnis Energy Technologies [ASX:MNS] rose on Thursday after announcing ‘exceptional anode results’.

Why Magnis Energy [ASX:MNS] Is Up Almost 7% Today

The share price of ASX-listed Magnis Energy Technologies [ASX:MNS] is up today after its subsidiary, Imperium3 New York Inc (iM3NY), completed a US$100 million intellectual property-based financing.

ASX Lithium Stocks Tumble as ASX Continues Slump

The S&P/ASX 200 [ASX:XJO] slumped for the fourth time in five trading days, with ASX lithium stocks falling steeply on Monday. 

ASX Lithium Stocks: Magnis, Vulcan, and Liontown Shares in Focus

We examine Monday’s updates from Vulcan Energy Resources (ASX:VUL), Magnis Energy Technologies (ASX:MNS), and Liontown Resources [ASX:LTR].

ASX Lithium Stocks: Vulcan, Magnis, Li-S Energy Share Price Up

Vulcan Energy Resources Ltd [ASX:VUL], Magnis Energy Technologies Ltd [ASX:MNS], and Li-S Energy Ltd [ASX:LIS] shares are up on Monday morning following a string of updates.

ASX 200 News Weekly Wrap — Magnis, Creso, Cettire, Crown and Commonwealth Bank

We review this week’s ASX news, from MNS and CPH getting caught up in ASIC probes to CBA shares tanking on their latest quarterly.