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Husic Media Releases New battery strategy to make more batteries here

New battery strategy to make more batteries here

23 May 2024

Joint media release with the Prime Minister the Hon Anthony Albanese MP.

The Albanese Government has today released the nation’s first National Battery Strategy, supporting a Future Made in Australia and shoring up our economic resilience and security.

The global demand for batteries is set to quadruple by 2030 as the world transitions to net zero, and our Strategy maps a path for Australia to take advantage of this growth to build a thriving battery industry.

It identifies four high-value strategic opportunities:

• Stationary storage - building Energy Storage Systems to firm renewable power generation in the national grid and for communities, businesses and homes.
• Provide battery active materials to the world by upgrading raw minerals into processed battery components to strengthen battery supply chains.
• Leveraging our world-leading know-how to build safer and more secure batteries connected to the grid.
• Building batteries for our transport manufacturing industry, including heavy vehicle manufacturing.

Funding for the Strategy was included in last week’s Budget:

• $523.2 million for the Battery Breakthrough Initiative, administered by ARENA, to promote the development of battery manufacturing capabilities through production incentives targeted at the highest value opportunities in the supply chain.
• $20.3 million for Building Future Battery Capabilities to incentivise cutting edge battery research, including support for:
  
  • Future Battery Industries Cooperative Research Centre to map Australian battery capability and value chains, drive battery innovation and scale-up and deliver best practice guidelines and standards for the battery industry.
  • Powering Australia Industry Growth Centre to develop workforce skills and training.

The Budget also includes $1.7 billion for a new Future Made in Australia Innovation Fund, administered by ARENA, to accelerate deployment of innovative technologies and facilities through support for innovation, commercialisation, pilot and demonstration projects in priority sectors including clean energy manufacturing such as batteries.

The Strategy is designed to harness our world leading-expertise in battery technology, lean into our natural advantage with critical minerals and support a Future Made in Australia.

It shows how Australia can help diversify global battery supply chains by working collaboratively with key trading partners – to help shore up our economic resilience in our national interest.

It also outlines a joined-up approach for industry and government to work together to supercharge our battery manufacturing and help make Australia a renewable energy superpower.

It builds on a range of existing Government initiatives to help Australian businesses grow and compete, including the Industry Growth Program, Solar Sunshot, the National Reconstruction Fund and the Critical Minerals Facility.