Li-S Energy powers up with federal grant

WAURN Ponds tech manufacturer Li–S Energy is using a $1.7 million grant from the federal government to upgrade its production line as it aims to break into the global battery market.

The company, which is one of the tenants of ManuFutures at Deakin University’s Waurn Ponds campus, has put the funds into supporting its high-tolerance lithium foil battery manufacturing process to produce next generation, ultra-light batteries.

The grant is one of the first to flow from the federal government’s $392 million Industry Growth Program (IGP), which is designed to help small and medium businesses overcome barriers associated with scaling up.

Li-S Energy is making low-weight, highly durable batteries suitable for the unstaffed aviation and defence industries.

“With the support of the IGP grant, we can build Australia’s first lithium metal foil manufacturing line,” Li-S Energy chief executive officer Dr Lee Finniear said.

“Essential for advanced batteries including our own and adding value to Australia’s own vast lithium reserves, the global lithium foil market is primed for massive growth in the coming years.”

“With Australia mining 52 per cent of the world’s lithium ore, this new sovereign manufacturing capability for lithium foil gives Australia an opportunity to position itself as a leading player in this growth market.”

IGP grants are aligned with the seven priority areas of the National Reconstruction Fund – and are designed to support businesses in the early stages so they can apply for NRF co-investment during later phases of development.

Industry and Science Minister Ed Husic and Corangamite federal member Libby Coker officially opened the battery manufacturing facilities at Li-S energy earlier today (Friday, August 8).

“Making more things here, strengthening supply chains and keeping our know-how and talent onshore where it belongs – that’s what a Future Made in Australia is all about,” Mr Husic said.

“Great Aussie ideas can create great Aussie businesses and new Aussie jobs, but in their early years the ideas of these firms can come to a deadend without critical support.

“Today’s a milestone because now innovative small businesses can see the support starting to flow, helping them grow into bigger businesses.

“The Albanese Government established the Industry Growth Program to work in conjunction with the NRF to help propel SMEs into a solid growth trajectory, with this important avenue to grow our manufacturing capabilities using the cutting edge ideas of younger firms.”