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Queensland Premier Supports Magnis’ Townsville Lithium-Ion Gigafactory Project

August 29, 2017 • News

Magnis Resources Limited recently announced the pleasing progress in its Townsville Lithium-ion battery Gigafactory project, and publicly received strong support from Premier Annastacia Palaszczuk and continuous assistance from Local and State governments.

The progress on the technical development of the project includes qualification of manufacturing input materials and budget pricing.

 “We are thankful for the strong support we have received from Premier Palaszczuk, the Queensland State Government, Townsville City Council and other government agencies in getting this vital project underway,” said Frank Poullas, Chairman of Magnis Resources.

“We are continuing to make very strong progress across a number of fronts in advancing this major project, both in terms of securing funding and technical development. This work is crucial in laying the foundations for the Townsville Lithium- ion Gigafactory.”

Land valuation work has been reportedly completed on the 400-hectare site in Woodstock, Queensland which was selected as the location for the Townsville Gigafactory. Further funding discussions with relevant State and Federal government bodies, along with private enterprise including local and overseas groups within the energy sector, is ongoing.

According to the news release, the consortium is led by Boston Energy & Innovation and consists of Magnis, New York-based Eastman Kodak Group , Charge CCCV and C&D Assembly. All parties are committed to transforming Australia’s energy security by pledging the new batteries will be cost competitive, better performing, a sustainable supply chain, environmentally friendly and an alternative to current major energy suppliers.

“The Townville Lithium-ion Gigafactory will be a vitally important piece of economic infrastructure for the Queensland economy, which will secure Townsville as a leading international hub for technology and innovation,” he concluded.

Image credit: magnis.com.au

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