New York governor Andrew Cuomo officially announced a grant of US$13.25 million for the first three gigawatt hour stage of the New York State lithium-ion gigafactory to be located at Huron Campus, while a business development group in Townsville has called on Queensland taxpayers to dig deep and find A$103 million for a similar development in Australia.
In New York, detailed engineering for the three gigawatt-hour stage one production will begin now the state has stumped up the cash, with the aim of completing stage one by late 2019.
Magnis chairman Frank Poullas said it was a significant milestone towards li-ion battery production, and followed both an extensive due diligence process and an 18-month scoping study by the consortium Imperium3 NY consortium that includes Magnis, Boston Energy and Innovation, Charge CCCV, C&D Assembly, Primet Precision Materials and Kodak.
He said Magnis and its partners had the technology, skills and resources to make New York’s first gigafactory a huge success.
The group is aiming to scale up to 15GWh in an aggressive ramp-up planned assuming the first stage works as expected.
Magnis will supply the anode materials and technologies at the plant, C4V and Primet will deliver the cathodes, electrodes and battery cells, C&D will provide the battery management systems, and Boston will help with project structuring, capital raising and global expansion.
Over 25 international companies are undergoing qualification process as strategic suppliers of critical ingredients for battery cells including raw materials, electrolyte and separator.
The group says its batteries will be safer, more efficient and less expensive than others on the market.
The Australian project is at an earlier stage, but in follows a memorandum of understanding with the Townsville City Council to investigate building a 15GWh gigafactory near Townsville in April.
Overnight the Townsville Enterprise 2017 State Government Election Priorities report was issued, calling for the provision of A$3 million in funding from the state government to help complete a feasibility study for Townsville’s first gigafactory, and a further $100 million to deliver the infrastructure needed to help support the undertaking.
There is no guarantee Queensland’s next government will stump up the money to fund any of the items on the regional body’s wishlist.
The US plant is forecast to create at least 230 new jobs over the next five years, while Townsville Enterprise estimates up to 5000 direct and indirect jobs over time.
Magnis shares were up more than 11% in trade this morning to 47c.
