Magnis Energy Technologies Limited: Air Permit Received for New York Lithium-ion Battery Plant

Sydney, Australia - Magnis Energy Technologies Ltd. (ASX:MNS) (FRA:U1P) (OTCMKTS:URNXF) is pleased to announce iM3NY has received its Air Permit, a major milestone for near term production at the iM3NY Battery Plant based in Endicott, New York. Magnis is the major shareholder of the project.

The Air Permit was officially granted by the New York State Department of Environmental Conservation (NY DEC). With the granting of the Air Permit and the Environmental Justice Plan, the Aquifer Permit remains outstanding and is expected to be granted in October.

With the granting of the Air Permit, internal construction and engineering of major components required for cell manufacturing which includes the dry room will begin immediately and materials processing can now take place. The project continues to be on track and will see an acceleration of activities with the granting of the Air Permit.

iM3NY CEO Chaitanya Sharma commented: "Today is a very important day for iM3NY with the granting of the Air Permit by NY DEC. The team has worked for nearly six months to secure this important milestone for the project."

About Magnis Energy Technologies Limited:

Magnis Energy Technologies Ltd. (ASX:MNS) (OTCMKTS:URNXF) (FRA:U1P) aims to become a leading global producer of next-generation green credentialed Lithium-Ion Battery (LIB) cells, enabling the future energy requirements of the world, the global storage of renewable energy and electrification of transportation.

Leveraging off a world class graphite asset in Tanzania, associated production IP and a strategy partnership with US based Charge CCV, Magnis will manage an end to end supply chain, sourcing the raw materials and associated technologies for these cells.

Magnis has three core areas of focus which provide the Company with a strategic advantage; battery technologies, gigafactories and graphite.

Source:
Magnis Energy Technologies Ltd.

Contact:

Frank Poullas Executive Chairman Ph: +61 2 8397 9888 www.magnis.com.au