Australian lithium processing and extracting company, Lithium Australia, announced on December 9 a joint venture with Chinese battery manufacturer to evaluate the manufacturing of lithium batteries in Australia.
The agreement establishes a new enterprise, Soluna Australia, as a company split 50-50 between Lithium Australia and DLG, a Chinese battery manufacturer.
According to managing director of Lithium Australia, Adrian Griffin, the partnership will introduce new technology to the Australian energy-storage market.
“Formalisation of Lithium Australia’s joint venture with DLG, which resulted in the creation of Soluna Australia, paves the way for the introduction of superior energy-storage products into the Australian market, reducing the carbon footprint of national energy consumption for both residential and industrial consumers,” said Griffin.
Initially, the company will sell lithium ion batteries made by DLG into the Australian market. Then, the company will explore the commercialisation of proprietary cathode powders developed by VSPC, a subsidiary of Lithium Australia. These powders will be used in batteries manufactured by DLG. The partnership will also look into recycling solutions for the energy-storage industry.
According to a statement delivered to the Australian Securities Exchange (ASX), the company will supply the domestic market, as well industrial applications.
“We foresee great potential for energy storage in fringe-of-grid and off-grid applications, as well as improvements in the utilisation of power from existing grids,” said Griffin.