Tesla on the cusp of landing anode material offtake cope with Magnis Energy

Tesla may very well be on the cusp of landing its second major battery materials cope with an Australian mining company. In line with a report by Australia’s Financial Review, Magnis Energy and Tesla have agreed to an offtake cope with lively anode material.

Per the report, the lively anode material will come via Magnis’s proposed United States production plant. The corporate flagged its intention to construct an anode manufacturing plant in the USA last yr. Nevertheless, Magnis didn’t provide any more details or a location for the plant. (h/t: @SawyerMerritt)

Magnis owns the Nachu Graphite project in Tanzania and various processing assets within the US. These processing assets include a 61 per cent stake within the iM3NY battery manufacturing plant in Endicott, Latest York. Nevertheless, it seems that the Tesla anode material will come from a brand new purpose-built lively anode material facility.

An offtake deal is usually an agreement that may see one company agrees to buy all or a portion of the product over a set period. A lot of these arrangements are the norm within the energy or mining sector.

Neither Magnis nor Tesla confirmed the rumours or any of the reports. Nevertheless, Magnis stock spiked amid a confirmation that a cloth transaction would come as early as Tuesday.

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