NT government announces $500k investment to supercharge NT battery research, manufacturing

The NT government has announced a $500,000 grant to turbocharge investment in battery research and manufacturing.

THE Northern Territory government has announced a $500,000 grant to turbocharge investment in battery research and manufacturing.

The Territory’s plentiful natural resources are also expected to become attractive to the growing battery sector, which is expected to play a crucial role in the globe’s transition to renewable energy.

The NT government has promised the $500,000 investment will go towards further collaboration and work with the Future Battery Industries Cooperative Research Centre over four years.

The Territory will be able to participate in industry research and provide potential investors with greater knowledge of the NT’s capabilities, the battery “value chain” and how battery manufacturers can sell their products.

The government has also promised the money will be a “significant step” in spurring the development of new mining projects in the Territory.

Chief Minister Michael Gunner said the initiative was part of a push to grow the NT economy to $40bn by 2030.

“The Territory is Australia’s comeback capital because we continue to invest in new industries, expand business opportunities and create jobs for Territorians,” Mr Gunner said.

“Partnering with the FBICRC will seat the Territory at the table with Australia’s leading scientists, companies and entrepreneurs.”

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Mr Gunner also talked up the NT’s role as a possible manufacturer of vital components and resources for the growing sector.

“We have the potential to be an internationally recognised manufacturer when it comes to battery materials, and we are hunting every opportunity,” he said.

“This partnership will lay the groundwork for future investors and projects that will continue to build up our economy.”

Renewables and Energy Minister Eva Lawler described the investment as a “win-win” for the Territory and talked up the benefits of the industry in transitioning to lower emissions.

“We want Territorians to have access to the latest and best technology as we build a stronger and more resilient power system for Territory households and businesses,” Ms Lawler said.

“As the world moves towards emission reduction goals, we know we must remain on the front foot when it comes to chasing that next economic opportunity.”

The NT government said FBICRC helped collaborate research between 60 participants and had attracted $120m in funding.

Areas of research include how the industry can overcome technical and market challenges within the Australian market, including manufacturing.

Crucial areas such as recycling and reusing batteries are also being studied, as well as sustainability and how industry can source materials responsibly.

Analysts have forecast an increase in the global demand for batteries as the world moves towards 2030 and 2050 emissions reduction goals.

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