BUSINESS Battery project’s boost Feasibility study fast- tracked for plant promising 1000 jobs
A FEASIBILITY study into a $ 2 billion battery manufacturing plant employing 1000 people in Townsville is being fasttracked to be completed by the end of the year.
Also, the venturers behind the project, which is being supported by Townsville City Council and the Queensland Government, have announced additional partners including tier one builder Probuild, engineering groups Norman Young & Disney and Ausenco and cost consultant WT Partnership as well as Siemens, Celgard LLC and Asahi Kasei.
Listed Australian company Magnis Resources released a statement to the stock exchange yesterday after the signing in Boston of an agreement between Townsville City Council and battery consortium Imperium3.
Imperium3 consists of Magnis, C4V, Boston Energy and Innovation, Eastman Kodak and C& D Assembly.
C4V was formed by researchers Shailesh Upreti and Professor Stanley Whittingham from New York’s Binghamton University, who developed the lithium- ion technology to be used in a battery plant at Huron Campus, the same innovation hub where technology giant IBM started.
Mayor Jenny Hill visited the Huron Campus with Imperium3 representatives while in the US to attend the BIO convention in Boston.
Cr Hill said it was great to meet the members involved in the US and hear the plans firsthand from the partners involved.
“We are throwing all resources required to help fasttrack the project,” she said.
Magnis said the council had hired a highly experienced dedicated resource member to wholly focus on facilitating the fast- tracking of key milestones, and the Queensland Government was making a similar commitment on top of providing $ 3.1 million for feasibility work.
Boston Energy and Innovation and Imperium3 director Corey Cooney said they would now work toward securing stage two funding and completing the feasibility study.
He said the new strategic partners would be providing their expert knowledge to complete the feasibility study and optimise an investment decision outcome.
Probuild group managing director Simon Gray said the Townsville battery plant, which is proposed for part of a former CSIRO agricultural research property near Woodstock acquired by Townsville City Council more than a decade ago, was unquestionably a significant project for Northern Australia.
Australian Manufacturing Workers Union secretary Rohan Webb welcomed the deal but said the Townsville project had to deliver secure jobs for local workers. SHARES in online retailer Kogan. com have plummeted after founder and chief executive Ruslan Kogan and fellow director David Shafer reportedly sought to sell shares worth $ 100 million.
Kogan. com said in a statement yesterday that it noted media speculation overnight regarding a share sale by Mr Kogan and Mr Shafer.
But, Kogan. com said, Mr Kogan and Mr Shafer did not receive a bid that was acceptable to them, and consequently no transactions occurred. “Mr Kogan and Mr Shafer are not currently in discussions to sell any shares,” it said.
Kogan. com shares fell $ 1.22, or 12.45 per cent, to close at $ 8.58 yesterday.