MAGMENT NEWSLETTER: EUROPEAN PATENT OFFICE GRANTS ANOTHER PATENT TO MAGMENT

🏆 Achievements

MAGEMENT's patent application PCT/EP2016/073930 "ARRANGEMENT FOR INDUCTIVELY SUPPLYING ENERGY TO ELECTRIC OR HYBRID VEHICLES" was granted by the European Patent Office (38 countries). International applications are underway in 15 countries including the U.S., China, India, Japan, Korea, and Israel, among others. This further strengthens our position in the wireless charging market.

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📢 Announcements

Maximilan Wirth has been appointed Program Manager Micromobility in order to focus short term on this very dynamic market. He returned today to Germany in order to head our Oktoberfest Micromobility Workshop 10/04 and 10/05.

Scooter operators such as Circ, and Metz have successfully tested our wireless charging docking stations MAGDOCK. Lime expects us to be able to deliver large quantities to cope with their growth requirements.

We have received customer RFQs from Tel Aviv and Jersey City to provide up to 500 MAGDOCKs.

MAGMENT is working with our Colombian Sales Rep Transconsult to submit a proposal for the e-bus wireless charging station pilot project in Bogotá. This includes an intended cooperation with @Zilper for a "non-invasive" trenchless installation of a MAGPAD stationary system with the potential to be upgraded to a MAGWAY dynamic system.

MAGMENT visited the College of Engineering at Purdue University, which is the largest among top 10 engineering schools in US. We agreed to pursue joint projects with e-minitrucks on campus and dynamic charging for Indiana highways and race cars. They suggested MAGMENT should become a member of SELECT (Sustainable Electrified Transportation Center).

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🎯 Strategy

MAGMENT is working out production plans with our Cement Group partners in order to fulfill the scooter operators' needs in terms of MAGDOCK quantities.

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💰 Financials

Due Diligence by German investor was finalized. We are now waiting for the Term Sheet proposal.

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Thank you everyone again for supporting MAGMENT!

September 29, 2019

MAGMENT MARKETING TEAM