A consortium is moving to the next stage of plans to build an AUS$3 billion ($2 billion) lithium-ion gigafactory in Queensland, Australia, after receiving the go-ahead from the state’s government.
The Queensland Department of State Development, Tourism and Innovation has approved the feasibility study by the Imperium3 Townsville consortium, which includes Magnis, Charge CCCV (C4V), and Boston Energy and Innovation and National Bank Australia.
If built, the 18GWh factory will service key global markets such as Australasia, North America and the Middle East by 2024.
Following the announcement, Imperium3’s board has approved the investment decision to proceed to the next stage of the project in Townsville, a city on the north-eastern coast.
Imperium3 is now preparing to begin discussions with equity partners and seek investors for the next stages of the project. It aims to complete fundraising by June next year.
The consortium hopes to begin building the plant in January 2022 and begin operations from the plant two years later.
The race is now on to build Australia’s first gigafactory after a co-funding grant was awarded to the country’s utility-scale lithium-ion manufacturer Energy Renaissance.
The AUS$246,625 ($175,000) co-funded grant includes matched financial contributions from the industry-led, not-for-project organisation Advanced Manufacturing Growth Centre (AMGC) and Energy Renaissance.
Energy Renaissance plans to open a 1.3GWh facility dubbed Renaissance One to manufacture batteries for Australia and export to Southeast Asia.
