The Townsville Battery Project consortium is building the gigafactory in Woodstock and is made up of Imperium3, Eastman Kodak and C&D Assembly. 

 

Magnis, Boston Energy and Innovation and Charge CCCV make up Imperium3, with Magnis saying its consortium continues to receive Queensland government support and this just the next step. 

 

Premier Annastacia Palaszczuk has said Townsville was already an industrial powerhouse and is playing an increasing role in Queensland's growing renewables' sector. 

 

The government is targeting 50% renewable energy for the state by 2030, but should the Liberal National Party win this target will scrapped. 

 

"The ability for homes, vehicles and businesses to store renewable energy and use it when needed it the next big step," she said. 

 

The Premier said that she had been inspired by her Tesla gigafactory visit in Nevada during a US trade trip, saying that the proximity to Asian markets was a selling point for the Queensland project. 

 

BEI and Magnis plans for the 15 gigawatt house factory include  either a manufacturing plant that can produce up to 250,000 electric vehicles batteries with a range of 400km; a million home battery units to store solar, or 300 microgrid batteries that can power entire remote communities. 

 

Magnis is also developing a large lithium-ion battery factory in Germany's largest state and manufacturing hub North Rhine Westphalia with backing from oil majors like BP and German authorities, who see it as valuable for jobs and as a support to the enormous automotive industry. 

 

Germany is a world leader in renewables uptake. 

 

Magnis was down 5% this morning trading at 50.5c.