Townsville is one step closer to having a $2 billion lithium-ion battery factory creating hundreds of new jobs following the signing of an assistance agreement between the Queensland Government and an international consortium this week.
Premier Annastacia Palaszczuk said the agreement with Imperium 3 – an international joint venture led by Boston Energy and Innovation, Magnis Resources and Charge CCCV LLC – follows on from her government’s election commitment to provide up to $3.1 million for a feasibility study into this project.
“Today’s signing is great news for Townsville, and Queensland as a whole, as it means we are one step closer to making this facility a reality, along with the jobs it would bring to Townsville,” Ms Palaszczuk said.
“I was in Boston in June this year at the BIO International Convention, as part of my trade delegation to the United States, where I observed the signing of a recommitment between Townsville City Council and Imperium 3 should the lithium-ion battery project progress to construction.
“In line with our Advance Queensland agenda, we are determined to make the most of the opportunities for the future, and by assisting to progress the feasibility study of this project, we hope to leverage considerable private sector investment into regional Queensland.
“Battery storage solutions are fundamental to making renewable energy reliable, and Imperium 3’s project would be supplying into a rapidly expanding market and would further develop Queensland’s advanced manufacturing capabilities in the renewable energy market.”
Queensland Minister for State Development, Manufacturing, Infrastructure and Planning Cameron Dick said a senior team from his department had worked with Imperium 3 to finalise the assistance agreement to support the delivery of the feasibility study for the manufacturing facility.
“The feasibility study is a key requirement for attracting the next stage of funding and is expected to be completed next year,” he said.
“This project supports our vision to grow more jobs in regional Queensland, both at the facility and through supply chain opportunities.
“The project could be a vital job creator in Townsville, generating hundreds of high-skilled jobs at the manufacturing facility and throughout the supply chain.
“With today’s signing, we are another step closer to making this major manufacturing project a reality for Townsville, and following the feasibility study completion, we expect Imperium 3 will make the final investment decision by mid-2020.”
Townsville Mayor Jenny Hill welcomed today’s progress on the project and thanked the state government for its contribution towards a feasibility study.
“This is an important occasion for Townsville – we are one step closer to the development of a sustainable, long term industry for our city and region,” she said.
“This is an important milestone as it allows for further progression through to the construction of the project.”
The Imperium 3 consortium has a project in New York that is more advanced and is providing a pathway for the Townsville project.