Imperium3 (iM3) New York acquires Alevo Lithium Ion Battery plant – original development cost of US$350 Million in 2017
Purchase of battery plant has been completed – mobilisation of high-tech machinery to Upstate New York to be completed within 5 months
Production expected from first half 2019 – volumes already committed to strategic customers from automotive and renewable industries
Reputed global brands are involved in mobilisation, automation and recommissioning process
iM3 New York plant to create 230 jobs with total production ramped up to 3GWh in phase 1 by 2020 and eventually growing to 15Gwh in phase 2
Imperium3 (iM3) New York is pleased to announce the acquisition of the Alevo Lithium Ion Battery plant was completed on February 22, 2018. The Alevo plant was originally built for approximately US$350 million, refitting the Philip Morris cigarette company’s former headquarters, and is located 20 miles north of Charlotte, North Carolina.
Imperium3 is working with a number of global leaders in automation, digital factories and robotics, and design plans to upgrade the Alevo factory to include a full in-line integration system. This system has already begun to reduce operational expenses.
Plant re-engineering will mainly encompass the incorporation of Imperium3’s leading materials and processing technologies, as well as the introduction of an additional cylindrical battery production beyond that existing for prismatic form factor. Imperium3 New York will work closely with its global supply chain partners to ensure reliable future production once the plant is recommissioned and realise the maximum value captured and cost savings from the purchased equipment.
Current plant infrastructure, in combination with iM3 technology, will be able to produce a minimum of 1GWh batteries annually. Simultaneously, iM3 plans to scale up production facilities to 3GWh by 2020 to produce cylindrical, as well as pouch/prismatic cells, with highly integrated processes and the utilisation of in-line smart manufacturing tools. Several parties have expressed interest in investing in future funding to support the new iM3 production facility.
Imperium3 New York’s founding members include Magnis Resources, Boston Energy and Innovation, C&D Assembly, Primet Precision Materials and C4V (Charge CCCV). In October 2017, the iM3 New York manufacturing site was inaugurated by Governor Cuomo (Ref:https://www.governor.ny.gov/news/governor-cuomo-announces-imperium3-new-york-establishlithium-ion-battery-giga-factory-southern).
Dr. William Acker, Executive Director of NY-BEST (New York Battery & Energy Storage Technology Consortium) said: “NY-BEST congratulates Imperium3 on this strategic acquisition and accelerating the schedule toward the completion of its new battery gigafactory in New York’s Southern Tier. The battery and energy storage industry is rapidly growing across the globe as these technologies are increasingly used in the transportation, electric grid and portable electronics sectors. Imperium3’s new plant illustrates that New York is well-positioned to attract new manufacturing and grow jobs in the energy storage industry.”
Magnis’ Chairman and iM3 Director, Frank Poullas, commented: “Our project in New York is moving rapidly and will be one of the few new projects reaching a production phase of GWh scale. This is a pivotal opportunity for Magnis Resources, given that the Company has already committed the required CAPEX and will be in production next year. With cobalt prices over US$81,000 per tonne and rising, our technology is set to become even more valuable. This technology does not require any cobalt in the process but has the performance and longevity characteristics of technologies which include the mineral.”
Primet Precision Materials President Robert Dobbs mentioned: “We are delighted to be a key cathode materials supplier that will fully enable successful battery production at the Imperium3 facility. Our materials performance consistency is proven beyond question. We plan on building a large manufacturing plant utilizing our proprietary materials processing technologies and that will move to a full materials supply in lock step with Imperium3’s build out”.
C&D Assembly CEO Jeff Cronk was pleased to comment that: “The C&D Team is excited to be part of Imperium3 and this development. This acquisition will move up the time line, providing employment and revenue for NY and the Southern tier sooner than previously planned. We are eager to get started with the Battery Management systems required to support this endeavor”
“We were excited last fall when Governor Cuomo came to Endicott to announce Imperium3’s (iM3’s) commitment to New York State and the company’s plans to set up its first manufacturing space at the Huron Campus. Shailesh Upreti’s C4V which has evolved into iM3, was one of our first Start Up NY companies. We are proud to have played even a small role in the company’s initial success and its evolution” said Binghamton University President Harvey Stenger.
Boston Energy and Innovation and Imperium3 Director Corey Coney said: “This acquisition enables and expedites the production of 1 GWh in battery cells from IM3 New York. This is not only a significant achievement, it is a critical milestone for IM3. By enabling IM3 to be in commercial production in the first half of 2019, we will be able to take advantage of the enormous demand which is exponential in nature especially in the automotive and renewable sectors. IM3 is therefore well positioned to establish itself as a leader in the Lithium Ion battery market”.
C4V President and iM3 Director & Chairman Shailesh Upreti was excited to share the news and stated that C4V’s deep understanding of technology, processes and materials, blended with large scale manufacturing knowledge would accelerate the entry of cutting edge products into the market sooner than expected. Automation, digitization, in-line integration and IOT (internet of things) are going to be our key focus while we re-assemble the plant here in upstate New York. We are looking forward to a sustainable product produced via green manufacturing practices entering market in 2019.