Prime Minister Anthony Albanese’s dream of turning the nation into a battery manufacturing powerhouse will require strong government intervention to create investor certainty.
and a strong need in the Australian market for long duration batteries made the Australian market highly attractive, Mr Harris said.“State governments and federal governments should create a market for scalable projects of 10 megawatt hours to 100 MW/h hours batteries. That provides that kind of anchor demand for companies like Redflow to tap into,” Mr Harris said.
“They need to also clearly prioritise Australian companies that invest in Australia. We’ve got all of our IP here, and we’re prepared to commit to create jobs on that.”to one of Thailand’s many free trade regions Chonburi, a major car and manufacturing and logistics hub 130 kilometres from Bangkok. “We needed to find a place that had a pool of labour that was internationally competitive. The location notably has a deep sea port that has good shipping routes to our target markets,” Mr Harris said.Redflow makes zinc-bromide “flow” batteries that charge using the reaction between zinc metal and bromine to produce an electric current. Flow batteries sit in the long duration storage category, where pumped hydro is the most mature technology.
Australian Energy Market Operator chief executive Daniel Westerman, backed by federal Energy and Climate Change Minister Chris Bowen, said in February that ““Investment in firming generation, such as pumped hydro, gas and long-duration batteries, is critical to complement our growing fleet of weather-dependent renewable generation to meet electricity demand without coal generation,” he said at the launch of an annual report on the outlook for supply and demand in the National Electricity Market.
Redflow is the only listed battery company producing batteries. It has a market capitalisation of $32 million. ASX listed Magnis Energy, which has a market capitalisation of $296 million, is in the process of setting up a battery factory in the US.
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