State Government to sign assistance agreement

State Government to sign assistance agreement with Imperium3 for Townsville lithium-ion battery factory
CLARE ARMSTRONG, Townsville Bulletin
32 minutes ago
Subscriber only

A JOBS bonanza for Townsville is one step closer to reality as the State Government signs a crucial assistance agreement for a proposed $2 billion lithium-ion battery factory.
Premier Annastacia Palaszczuk said the agreement with the Imperium3 consortium was “great news” for North Queensland, with hundreds of jobs if the project goes ahead.
Imperium3 includes New York-based Charge CCCV LLC, Primet Precision Materials, C & D Assembly, Australia’s Magnis Resources and investment firm Boston Energy and Innovation.
The plant will be built at Woodstock after the Townsville City Council last year agreed to provide the land.

Mayor Jenny Hill with representatives involved in the Imperium3 battery project visiting Huron Campus in Endicott, New York. where a manufacturing plant is being developed.
In June, during a trade delegation to the US, the council and Imperium3 signed a recommitment agreement should the project progress to construction.
The Government has also committed up to $3.1 million for a feasibility study into the battery project.
Ms Palaszczuk said today’s assistance agreement would support the delivery of the feasibility study.
“In line with our Advance Queensland agenda, we are determined to make the most of the opportunities for the future, and by assisting to progress the feasibility study of this project, we hope to leverage considerable private sector investment into regional Queensland,” she said
“Battery storage solutions are fundamental to making renewable energy reliable, and Imperium3’s project would be supplying into a rapidly expanding market and would further develop Queensland’s advanced manufacturing capabilities in the renewable energy market.”
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Development, Manufacturing, Infrastructure and Planning Minster Cameron Dick said a senior team from his department had worked with Imperium3 to finalise the assistance agreement
“The feasibility study is a key requirement for attracting the next stage of funding and is expected to be completed next year,” he said.
“This project supports our vision to grow more jobs in regional Queensland, both at the facility and through supply chain opportunities.”
Mr Dick said the project would be a “vital job creator” in Townsville and generate hundreds of high-skilled jobs at the manufacturing facility and throughout the supply chain.
“With today’s signing, we are another step closer to making this game-changing manufacturing project a reality for Townsville, and following the feasibility study completion, we expect Imperium3 will make the final investment decision by mid-2020.”
The Imperium3 consortium has a project in New York that is more advanced and could act as a blueprint for the Townsville project.