The Northern Territory Government has announced it will be collaborating with the Future Battery Industries Cooperative Research Centre (FBICRC) – with the $500,000 investment taking place over four years.
The partnership will see the Northern Territory participate in industry research, which will better inform investors about the state’s capabilities and battery value chain – the steps involved in manufacturing, distributing and selling batteries to end users.
Northern Territory Chief Minister, Michael Gunner, said, “The Territory is Australia’s comeback capital because we continue to invest in new industries, expand business opportunities and create jobs for Territorians.
“Partnering with the FBICRC will seat the Territory at the table with Australia’s leading scientists, companies and entrepreneurs.”
The FBICRC benefits from the shared knowledge of 60 participants who combined have contributed in excess of $120 million, key insights and a joint approach to solving key technical and market development challenges in growing new battery industries in Australia.
The FBICRC participants also cover topics from mining to manufacturing, to recycling and reusing, as well as tackling critical topics like sustainability and responsible sourcing.
It will play an important role in identifying the Northern Territory’s best opportunities to capitalise in an emerging domestic and global market, and link the state with the best partners to grow local business and manufacturing.
“We have the potential to be an internationally-recognised manufacturer when it comes to battery materials, and we are hunting every opportunity,” Mr Gunner said.
Mr Gunner says the partnership will lay the groundwork for future investors and projects that will continue to build up our economy.
This initiative is a key part of the state’s strengthened approach to winning investment and supporting economic growth, supporting the development of new mines and a new manufacturing industry.
Northern Territory Minister for Renewables and Energy, Eva Lawler, said, “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.”
The battery industry has been identified as an opportunity to add value to the Northern Territory’s abundant natural resources and leverage its proximity to export markets throughout the Indo-Pacific.
Analysts have forecast an increase in the global demand for batteries as the world moves towards 2030 and 2050 emissions reduction goals.
Ms Lawler said, “This partnership is a win-win for the Territory – 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.”