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Magnis Energy Technologies Limited ( (AU:MNS) ) has provided an update.
Magnis Energy Technologies Ltd has announced an increase in its secured debt with McEvoy Street (Alexandria) Pty Ltd from $7.262 million to $8.032 million. McEvoy has also committed to providing up to $5 million in financial support over the next 12 months to assist with Magnis’s operating costs and working capital needs. This agreement reflects ongoing financial backing, which may bolster Magnis’s operational capabilities and strengthen its position in the green energy sector.
More about Magnis Energy Technologies Limited
Magnis Energy Technologies Ltd is a vertically integrated company in the lithium-ion battery technology and materials sector, focusing on the lithium-ion battery supply chain. The company aims to facilitate the widespread adoption of electric mobility and renewable energy storage, which are essential for the green energy transition.
Technical Sentiment Signal: Sell
Current Market Cap: A$50.38M
Find detailed analytics on MNS stock on TipRanks’ Stock Analysis page.