Sydney-based lead battery manufacturer, Ecoult, is planning global expansion after A$1.4 million in Australian government funding helped it cut the production cost of its lead batteries, according to the AFR.
Ecoult chief executive John Wood said that lead battery technology remains the dominant technology by a factor of seven, despite the growth of lithium-ion batteries.
The company’s technology was originally developed by the CSIRO and uses a special electrolyte to transform traditional lead-acid technology to make it work for modern power systems. The device the battery is charging can then last longer and be charged and discharged more.
The $1.4 million ARENA funding has to be repaid if the company’s next round of product development is successful. It will help with a $10.6 million initiative by Ecoult to take the technology to the next stage.
“This program offers the opportunity to unlock the full scope of the lead-acid industry globally,” Wood said.
Wood noted that costs of energy stored in ultra-batteries could only be calculated on a case-by-case basis, but lead-acid chemistry has one of the lowest energy storage costs currently available.