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Australia’s Magnis takes 45% stake in German battery venture

Mon, 02/05/2018 - 11:09 -- Xuan Zhong
Australia’s Magnis takes 45% stake in German battery venture

Australian graphite producer Magnis Resources is to hold a 45% stake in a new company building a 30GWh lithium-ion battery manufacturing plant in Germany.

Plans to build the gigafactory in the state of North Rhine Westphalia were unveiled last year, with the signing of a memorandum of understanding by Magnis in a public-private partnership with WIN Emscher-Lipper— a consortium of firms including energy and chemicals companies, government agencies and financial institutions.

 

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