A new report released by the Future Battery Industries Cooperative Research Centre (FBICRC) claims Australia’s battery opportunity has doubled in the last 18 months, driven by huge demand.
The report, referenced by Minister for Industry and Science, Ed Husic, in an address to the National Press Club yesterday, reveals the battery industry could provide $16.9 billion per annum in value-add and support 61,400 local jobs by 2030.
Entitled Charging Ahead – Australia’s Battery Powered Future, the reportanalysed global and geopolitical influences on the potential growth of Australia’s battery industries, as a major supplier of battery minerals.
When implemented, and with the support of the $15 billion National Reconstruction Fund and the $1 billion value add in resources sub-fund, its recommendations, could result in Australia’s battery industry becoming a global leader.
The report, spanning Australia’s resource, energy, industrial, foreign affairs and international trade policies, highlights the impressive growth of Australia’s battery industry, across the supply chain and commercialisation spectrum. It makes key recommendations to harness Australia’s opportunities from the significantly increased and accelerated demand.
FBICRC CEO Shannon O’Rourke said the time to act is now.
“As our comprehensive reporthas shown the industry is competitive, and under the right policy settings the Australian battery industry could unlock $16.9 billion in value-add and 61,400 local jobs by 2030,” O’ Rourke said.
“In light of recent geopolitical developments, our report has shown Australian policy-makers should explore more aggressive industry policies, target markets that are looking to diversify their supply chains, and partner with geopolitical allies to enable and enhance the potential growth of Australia’s battery industry.
“The challenge is to help build the Australian manufacturing ecosystem and get it to scale. Measures like the National Reconstruction Fund are essential to give Australian business an opportunity to compete at world scale.”
“FBICRC stands ready to provide our research expertise and analysis to support Governments across Australia leverage our battery industry’s competitive advantage and make the most of the recent and significant global economic, industrial and political shifts.”
Sustainability services managing director at Accenture in Australia, Shaun Chau, said there has been huge interest in battery technologies as part of the energy transition.
“The opportunity for Australia to grow its role in the battery supply chain is large. However, other nations have also woken up to the prospect.
“To capitalise, Australian industry, government and universities need to move decisively and quickly to create the right enabling environment, attract and develop the appropriate capabilities and ready a coordinated industry for action.”
Batteries are manufactured through a complex value chain from mining and then refining of raw materials, through to the manufacturing of cells then battery packs, and finally integration and end-of-life.