Ann: QLD Govt Approves $3.1M Grant for Townsville Battery Plant, page-23

Queensland stumps up $3m for Magnis’s lithium battery gigafactory

2 hours ago

2 hours ago | Angela East


Graphite miner Magnis Resources has been handed a $3.1 million cheque from the Queensland government to help build a battery “gigafactory” in the state.
Gigafactory, a term coined by Elon Musk’s Tesla, refers to huge factories that make lithium batteries that power electric cars.
Gigafactory refers to a facility’s annual production capacity in gigawatt-hours (GWh). One GWh is the equivalent of generating 1 billion watts for one hour.
The Queensland grant, which was awarded to Magnis subsidiary Imperium3, will fund a feasibility study for a 15-gigawatt (GWh) lithium-ion battery plant in Townsville.
Magnis’s wants to build three gigafactories — but test data released in July shows it still has a way to go in battery making.


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