Magnis Energy Technologies (ASX:MNS) completes $25M funding from investors

Australian lithium-ion battery technology company Magnis Energy Technologies (ASX:MNS) has secured a $25M facility from Regal Funds Management and L1 Capital that could increase by another $25M.

Proceeds will be used to strengthen Magnis' balance sheet and to accelerate development of its vertical integrated advanced anode materials business.

Shares of Magnis Energy Technologies closed down 5% today.