Arena backs Australian factory featuring “breakthrough” in battery storage
A QLD company with a potentially “breakthrough” technology for a key component of electric vehicle and grid based batteries has been awarded $30 million to build a demonstration factory in Australia.
VSPC, a subsidiary of listed company Livium, says it has developed a new way of making lithium ferro phosphate (LFP) and lithium manganese ferro phosphate (LMFP) powders.
With LFP technology rapidly catching up with NMC (nickel manganese cobalt), Livium managing director and CEO Simon Linge hopes the grant opens the way for private capital to flow into the project.
The factory will have the capacity to make 250 tonnes of cathode powder annually, enough to supply 12,500 household batteries or 1,600 EV batteries.
It’s the second investment by the federal renewable energy funder into battery supply chain manufacturing.
The first was $4 million to AnteoTech last year to help the company’s $11.1 million, three-year plan to commercialise its silicon anode technology.
The grant is part of the federal Future Made in Australia plan which includes battery supply chains.
The National Battery Strategy was released last year and aims to take Australia from nothing to a globally competitive producer of batteries and battery materials by as early as 2035.
That covers everything from investing in companies mining battery precursor metals to parts manufacturers.