Battery Plant powers ahead after signing
Date published: 5 June 2018
Townsville is front and centre of the deal making at the world’s largest biotechnology and innovation conference.
Townsville City Council and Imperium3 signed a high-level agreement to progress the lithium ion battery plant at the BIO Convention in Boston.
Premier Annastacia Palaszczuk witnessed the historic signing as part of her Government’s trade delegation to the US and received a briefing on the latest developments with the project.
Mayor Jenny Hill said signing the agreement between Council and Imperium3 was the next crucial step to establishing the battery plant in Townsville.
“This battery plant has the potential to transform Townsville and charge the city’s economy for decades to come,” Cr Hill said.
“The battery plant project has generated huge interest already at the BIO Convention and Townsville is well and truly on the map for investors here.
“I’d like to thank the Premier for the invitation to the US to showcase our plans to turn Townsville into an advanced manufacturing hub.”
Premier Annastacia Palaszczuk said battery technology was a natural extension of Queensland’s transition to being a renewable energy powerhouse.
“Queensland has long been the powerhouse of Australia,” the Premier said.
“Now as we move towards our 50% renewable energy target, storage solutions are a vital part of enhancing our natural strengths in renewable generation.
“Storage is fundamental to making renewable energy reliable, and that’s why my Government has already committed more than $3 million towards assessing the feasibility of this project.”
Imperium3 consortium consists of Magnis Resources Limited, C4V LLC New York and Boston Energy and Innovation.
The consortium will be a vertically integrated group of companies from mining to manufacturing, delivering some of the world’s most technologically advanced batteries.
Imperium3 has submitted financial details to the Department of State Development as part of the Queensland Government’s approval process for $3.1 million contribution to complete a feasibility study.
The battery plant will create up to 1000 direct jobs and position Townsville as a global leader in advanced manufacturing - and the project received significant interest from some of the world’s biggest investors at the BIO Convention.
The plant will be built at Woodstock after Townsville City Council last year, agreed to partner with the consortium and provide the land for the advanced manufacturing plant.