Queensland announces $570 million investment in ambitious battery industry strategy
The Queensland government has unveiled an ambitious new strategy to transform the state into an international leader in battery manufacturing. The Queensland Battery Industry Strategy allocates $570 million in funding to drive innovation, build supply chains, and attract investment, with the potential to create 9,100 jobs and contribute $1.3 billion to the economy by 2030.
This move positions Queensland at the forefront of the global shift towards decarbonisation and renewable energy. As worldwide demand for batteries soars, Queensland aims to capitalise on its abundance of critical minerals, mining expertise, and strong research and technology sectors.
Read the full strategy: Queensland Battery Industry Strategy 2024-2029
A comprehensive plan for industry growth
The state’s five-year plan strategically focuses on developing a comprehensive battery industry. It will foster innovative technologies, support the commercialization of new battery solutions, and enhance the advanced manufacturing capabilities of battery cells, materials, pack assembly, and recycling.
“Global demand for batteries will increase by tenfold to 2030,” said 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.”
The $570 million investment package includes $210 million in new funding to build capabilities across the industry, accelerate the development of battery standards, and support testing initiatives. A key component is establishing the Australian Battery Industrialisation Centre in partnership with the federal government and Queensland universities.
Key actions to boost innovation and investment
The strategy outlines three central areas of focus to achieve its goals:
- $275 million to boost innovation: This includes $105 million in state funding to establish the Australian Battery Industrialisation Centre in collaboration with the Australian Government.
- $92.2 million to attract investment: This includes an $80 million industry grant program dedicated to fueling battery-related investment and supply chain growth.
- $202.5 million to promote Queensland as a leader: A key component is creating ‘Batteries Queensland,’ a hub to connect the industry with government agencies and provide comprehensive support.
Widespread benefits for Queensland’s economy
“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,” said Minister for State Development and Infrastructure, Grace Grace. “Each region has a role to play in the development of the battery supply chain.”
Minister for Energy and Clean Economy Jobs, Mick de Brenni, emphasised the direct benefits for Queenslanders: “This investment will be welcomed by the manufacturing sector, the resources sector, by climate advocates, and anyone who is looking to save money on their household or business budget.”
Collaboration and expertise drive success
The strategy received valuable input from stakeholders through the Queensland Government’s Battery Industry Opportunities for Queensland discussion paper in 2023. Experts in the field are enthusiastic about the plan’s potential.
“Queensland hosts an incredibly strong battery industry cluster across a diverse range of energy storage technologies,” said A/Prof Josh Watts, Director of the QUT Advanced Battery Facility.
Dr. Lynette Molyneaux, Director of the Advanced Materials and Battery Council, agrees: “Queensland’s Battery Industry Strategy gives clarity and support to companies that have the know-how and the determination to compete in this huge global opportunity.”
A bright future for clean energy manufacturing
As Queensland invests in domestic manufacturing and harnesses its existing strengths, the new Battery Industry Strategy signals a bold and exciting transformation for the state’s economy and its role in tackling climate change.