Townsville $2b lithium-ion battery factory gets a boost

A proposed $2-billion lithium-ion battery manufacturing facility in Townsville has moved closer to becoming a reality with the Queensland government today announcing an assistance agreement with the international consortium funding the project.

The Queensland government signed an agreement with Imperium3 – an international joint venture led by Boston Energy and Innovation, Magnis Resources and Charge CCCV LLC – to provide up to $3.1 million for a feasibility study into this project.

Queensland Premier Annastacia Palaszczuk said the funding is in line with her government’s Advance Queensland agenda to leverage private sector investment into regional Queensland.

“Today’s signing is great news for Townsville, and Queensland as a whole, as it means we are one step closer to making this facility a reality, along with the jobs it would bring to Townsville,” the Premier said.

“Battery storage solutions are fundamental to making renewable energy reliable, and Imperium3’s project would be supplying into a rapidly expanding market and would further develop Queensland’s advanced manufacturing capabilities in the renewable energy market,” she added.

Minister for State Development, Manufacturing, Infrastructure and Planning Cameron Dick said a senior team from his department had worked with Imperium 3 to finalise the assistance agreement to support the delivery of the feasibility study for the $2 billion lithium-ion battery manufacturing facility.

“The feasibility study is a key requirement for attracting the next stage of funding and is expected to be completed next year,” he said.

He said the agreement would take the funding of the feasibility study would move the project one step closer to reality.

 

“following the feasibility study completion, we expect Imperium 3 will make the final investment decision by mid-2020,” he said.

The funding agreement follows a visit by Premier Palaszczuk to Boston in June this year, where she observed the signing of a recommitment between Townsville City Council and Imperium.

Imperium3 has secured commitment from multiple project partners to assist in the delivery of the project, including Siemens, Celgard, Probuild, Norman Young & Disney, Ausenco and WT Partnership. The new partners are in addition to the existing Imperium3 consortium which consists of Magnis, C4V, Boston Energy and Innovation, Eastman Kodak Group and C&D Assembly.