Under the agreement, Magnis is to purchase Batterotech products including lithium-ion battery cells, components and stationary energy storage products.
Batterotech will be Magnis’ technology partner, assisting Magnis’ iM3NY battery plant if needed, and will work together on any future battery manufacturing plants identified by Magnis.
Dr Yajun Chao of Batterotech commented: “We have been impressed by our interactions with Magnis including the recent visit by the Magnis Chairman and Managing Director (USA) and believe there are many great synergies between the two companies. Between our products and technical expertise along with Magnis’ contacts and reach into new markets, we see this agreement as a win-win for both companies.”
Magnis Chairman Frank Poullas commented: “We see Batterotech as a long-term technology partner that can work together with Magnis and can assist Magnis in producing near-term revenues with customers that Magnis has identified.”
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