Hub scene setting report released
The FBICRC has today released the ‘Accelerating battery industry hub development in Australia’ report, becoming the 8th scene setting report we have released over the last two years.
The report explores some of the lessons to be learned from other countries who successfully developed industry hubs and the role that hubs could play in boosting investment and economic activity in Australia’s growing battery industries.
Report author Dr Kirsten Martinus from the University of Western Australia said that while different models for hub development were used in the US, Japan and Germany, harnessing the benefits of co-location and collaboration was a common strategy amongst successful hubs.
Dr Martinus said that Australia could achieve a competitive advantage from hub development, leveraging its rich mineral endowment and strong ESG compliance to meet the massive increases in demand predicted for renewable technologies as nations try and hit their emissions targets and stimulate economic activity.
“One of the major challenges in attracting investment in establishing a domestic downstream battery material refining and manufacturing hub is the competition from countries in the northern hemisphere, who are also keen to realise the economic benefit from locating as many aspects of their supply chain within their own region,” Kirsten said.
Chief Executive Officer Stedman Ellis said that the report highlighted there is no ‘one size fits all’ approach to hubs development and that a sound understanding of regional assets, industry needs, competitiveness challenges and global trends was required.
“Australia has a strong value proposition in meeting the rapidly growing demand for batteries, a desire to diversify supply chains and demonstrate high standards of ESG performance. The momentum is evident with the emerging technical grade battery chemicals industry in Kwinana and Kemerton WA.
The Future Charge Report identified establishing battery hubs as one of its key recommendations to achieving a diversified battery industry in Australia worth $7.4 billion in value annually and support over 34,000 jobs by 2030,” Stedman said.