SPARKS FLY

MAYOR AND MP CLASH OVER BATTERY PRECINCT

PLANS for a $3bn battery cell manufacturing plant are charging up with proponents preparing a development application to be lodged with Townsville City Council. Stock exchange-listed development company Magnis Energy Technologies, a one-third stakeholder in the Imperium3 consortium, announced yesterday the consortium had approved an investment decision to proceed with the next stage.

They want to develop an 18 gigawatt hour capacity lithium ion battery cell manufacturing plant at Lansdown, about 50km southwest of Townsville. Mayor Jenny Hill has called on federal MP Phillip Thompson to support the funding of services at the Lansdown precinct but Mr Thompson says if the plan stacks up, the proponents can apply for a NAIF loan.

PLANS for a $3bn battery cell manufacturing plant are charging up with proponents preparing a development application to be lodged with Townsville City Council.

Stock exchange-listed development company Magnis Energy Technologies, a onethird stakeholder in the Imperium3 consortium, announced yesterday the consortium had approved an investment decision to proceed with the next stage.

The players include US battery technology developer C4V and Australian fund manager Boston Energy and Innovation, headed by former Macquarie Bank executive Bill Moss.

They want to develop an 18 gigawatt hour capacity lithium ion battery cell manufacturing plant at Lansdown, about 50km southwest of Townsville.

A feasibility study, supported by the state government with a $3.1 million grant, has indicated a viable business case exists, showing a 20 per cent return on investment.

If it proceeds, it is expected to create 2500 construction jobs and 1000 permanent jobs.

In a statement to the exchange, Magnis chairman Frank Poullas said they were now under way with the next stage of preparing a development application and securing investment partners.

“Energy security is a major topic, along with the creation of local manufacturing and employment in this current climate,” Mr Poullas said.

“This project ticks all the boxes and we look forward to progressing the Townsville project with our partners towards large-scale production.”

The statement said a development application would be lodged “over the coming months” and that the consortium was finalising presentations and documents to seek investment partners.

The consortium is working with:

• Townsville City Council in pre-development application meetings; • Edify Energy towards supplying low-cost, renewable power;

• Port of Townsville to develop transport and logistics solutions;

• James Cook University and Queensland University of Technology for collaboration on education and training, innovation and research; and

• GHD, Ausenco, Norman Disney & Young, Rider Levett Bucknall and FKG Group on design, cost control and maximising local procurement.

The plant is to be developed in three stages to reduce initial project capital and execution risk.

Magnis said the consortium aimed to complete capital raising and make an investment decision to proceed with construction by June 30 next year, to start construction by January 1, 2022, and to commence operation p by y January y 1, 2024.