$570m investment for Queensland’s Battery Industry Strategy

queensland, renewables, sustainability,

February 26, 2024

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$570m will be invested for Queensland’s Battery Industry Strategy as part of a five-year action plan to deliver renewable jobs in battery technology and manufacturing.

• $570 million investment for Queensland’s nation leading Battery Industry Strategy to deliver clean economy jobs in battery technologies and manufacturing
• Queensland’s battery industry could contribute up to $1.3 billion to economy and generate 9,100 clean economy jobs by 2030
• Strategy actions support battery industry innovation, commercialisation, investment, supply-chain growth, and will promote Queensland nationally and internationally

The Miles’ Government’s Queensland Battery Industry Strategy harnesses Queensland’s world leading expertise in battery technologies and nation leading investment in renewable energy to create clean economy jobs.

The strategy is a five-year action plan to supercharge growth as the world decarbonises and strengthens Queensland’s position as a globally competitive investment destination.

The strategy brings together Queensland’s world class critical minerals resources, mining expertise, emerging business capability, and Queensland’s world leading research and technology.

Together, these will further develop advanced manufacturing of battery materials, cells, pack assembly, installation, and recycling.

The $570 million package includes new funding of $210 million to build capabilities across the value chain, drive development of battery standards, and testing.

“As the world moves towards net zero global demand for batteries will increase by tenfold to 2030,” says Queensland Premier Steven Miles.

“The Queensland Battery Industry Strategy establishes Queensland as a global leader in the flow batteries needed to store renewable energy and advanced battery technologies,” says Queensland Premier Steven Miles.

“In 2023 I released the Queensland New-Industry Development Strategy, which identifies the battery industry as a priority sector which will shape our economic future. Our 75% emissions reduction target by 2035 provides the investment certainty to build a battery industry here in Queensland to not just supply Australia but the world.

“Building a Queensland battery industry creates jobs here in the Southeast in mining critical minerals in the North West, in minerals processing in Townsville and new clean economy jobs across our regions including Cairns, Gladstone and Maryborough.,” says Queensland Premier Steven Miles.

It also provides the State’s funding contribution to the Australian Battery Industrialisation Centre that will be further developed in partnership with the Australian Government and a consortium of Queensland Universities.

“Queensland’s battery industry could deliver more than 9,100 jobs and contribute up to $1.3 billion to the state’s economy by 2030,” says Minister for State Development and Infrastructure Grace Grace.

“There are incredible opportunities right across our state, from recovery of critical minerals to the production and refining of advanced materials, manufacturing, and integration of battery packs.

“Right now, most of the batteries used in Queensland are imported. This is a massive opportunity for Queensland to become a world leader and make these products in our own backyard, and it’s one we are seizing with both hands.

“Our ambition is to make Queensland the battery industry capital, and ensure our communities benefit directly from the job and economic opportunities this will bring,” says Minister for State Development and Infrastructure Grace Grace.

New and existing industry support is allocated across three key themes:

• $275 million to support industry to innovate and commercialise battery technologies, including $105 million in state funding to plan and establish the Australian Battery Industrialisation Centre in partnership with the Australian Government
• $92.2 million to drive battery investment and supply chain growth, including an $80 million industry grant program
• $202.5 million to promote and position Queensland as the preferred supplier of advanced materials and batteries to domestic and international markets, including $5m to establish Batteries Queensland, a central point of contact for industry to connect with relevant government agencies and access support

“What’s really great about the strategy, is that it diversifies the technology used to improve battery safety and ensure that we can utilise the rich mineral reserves in Queensland,” says Minister for Energy and Clean Economy Jobs Mick de Brenni.

“Setting up a Queensland made battery industry means that soon every Queenslander will be able to store our plentiful and free sunshine and wind resources, to be used in their home and slash money off their bills,” says Minister for Energy and Clean Economy Jobs Mick de Brenni.

“The Queensland battery industry will deliver opportunities to our regional areas with this strategy driving a focus on building the supply chain to meet global demand for new-economy energy production and storage,” says Minister for Regional Development and Manufacturing Glenn Butcher.

“The Strategy builds upon our investment in the Queensland Energy and Jobs Plan to position Queensland to become a thriving renewables, hydrogen and clean energy manufacturing superpower,” says Minister for Regional Development and Manufacturing Glenn Butcher.

“Queensland is home to world leading researchers in metallurgy, materials science and nanotechnology, and battery-tech entrepreneurs seeking to commercialise researchers’ intellectual property for local and global markets,” says Advanced Materials and Battery Council Director Dr Lynette Molyneaux,” says Minister for Regional Development and Manufacturing Glenn Butcher.

“For too long Australian research findings have been exported for other countries’ benefit. The Advanced Materials and Battery Council is dedicated to supporting battery-tech companies to develop networks to grow commercially viable value chains, and collaborate with researchers and policy makers to become the cornerstone for a resurgent domestic manufacturing sector,” says Advanced Materials and Battery Council Director Dr Lynette Molyneaux.

Stakeholders helped shape the strategy through the Queensland Government’s Battery Industry Opportunities for Queensland discussion paper, which was released in 2023.

Source: © The State of Queensland 1997–2024

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