Strong business case for $2 billion lithium battery facility in Queensland

The business case for a 15GWh lithium-ion battery cell manufacturing facility and Australia’s first Gigafactory in Townsville, Queensland has been strengthened following initial findings of a feasibility study for the project.

The AUS$2 billion project is being proposed by a consortium called Imperium3 Townsville (IM3TSV), which includes Imperium3, Magnis Energy Technologies and ChargeCCCV (C4V).

The Queensland State Government is contributing $3.1 million towards the feasibility study for the project, which to date has confirmed the suitability of Townsville to large scale manufacturing.

A recent update from Magnis highlighted that Townsville is in proximity to rapidly growing Asian markets where electrification of transport and energy are being driven by governments.

The city also has good logistics and a port, with important materials such as lithium and manganese readily available in the wider region. The project is set to provide up to 1,000 jobs in the manufacturing facility, along with 1,000 jobs in the direct support businesses.

Once in full production the manufacturing facility can produce either 250,000 lithium-ion car batteries per annum, or one million home battery units.

@RGNonline