Federal Labor has launched its Battery Breakthrough Initiative, offering a share in $500 million of funding to companies making and innovating battery energy storage system components and strengthening the Australian battery supply chain.
The Battery Breakthrough Initiative (BBI) is being led by the Australian Renewable Energy Agency (Arena), working closely with the Department of Industry, Science and Resources.
The major new funding push is central to the Albanese government’s National Battery Strategy and a key plank of the Future Made in Australia plan alongside the $1 billion Solar Sunshot scheme.
“Batteries are a critical component of the global move to reduce carbon emissions and there is a huge opportunity for Australia to be part of this global demand,” said federal minister for industry and innovation, Tim Ayers, on Tuesday.
“Australia’s got the raw materials, a strong research sector and a range of companies deeply engaged on the role of batteries in the clean energy transition, and that’s why I’m so excited to back these home-grown ideas and businesses to deliver a Future Made in Australia.”
Arena says the funding allocation will initially focus on projects dedicated to the manufacture of battery materials, battery cells and battery pack assembly, with funding provided through capital grants, production incentives or other payments deemed appropriate.
Key contenders for the funding could include companies like WA-based Magellan Power, which makes a range of home, community and modular battery energy storage systems and is establishing a stream of battery repurposing, which will focus on used EV batteries.
Another WA contender might be Avess Energy, which is working towards demonstration of its vanadium redox flow battery technology, potentially to help power an off-grid mine site.
In Victoria, there is Li-S Energy which has developed a 20-layer battery cell using its third-generation (GEN3) semi-solid state lithium sulfur technology which packs in 45 per cent more energy density and is safer and more reliable than lithium-ion batteries.
And in New South Wales, a company spun out of the University of Wollongong called Sincona Battery Technologies is commercialising a discovery by UoW electromaterials researchers who developed a new form of highly conductive and processable graphene.
Arena chief Darren Miller says the BBI will enhance Australia’s battery manufacturing capability, improve supply chain resilience and battery manufacturing processes, and foster innovation.
“Energy storage is a critical enabling technology for our renewable energy future,” Miller said on Tuesday.
“We know that solar and wind energy can provide us the lowest cost renewable energy generation at scale, but we also need to be able to store it for when it is needed.”
Program guidelines and other support documentation are now available on Arena’s website. The program will remain open until funds are exhausted or otherwise terminated or extended. ARENA will run two virtual information sessions covering the program guidelines and funding eligibility. You can register here.
