MEDIA RELEASE 17/06/2024
QUEENSLAND FY25 BUDGET RESPONSE
The AMBC welcomes the Queensland Government’s policies to support the local battery industry supply chain and believes the initiatives play to Australia’s and Queensland’s strengths and aim to meet our battery needs – especially for renewable electricity grid.
The AMBC looks forward to playing its role to support the development of the battery industry supply chain and supporting the roll out of these Queensland Government policies to maximise the benefit to the sector and the community.
The AMBC recognises we are at the beginning of the energy transition which is widely noted to be one of the most significant changes for society since the Industrial Revolution. The AMBC will look to support the Government where it can, to provide feedback on policies to meet new industry needs as they emerge in this fast-moving sector.
The AMBC welcomes the Queensland Government significant commitment to the battery industry supply chain and it’s important role in the energy transition in the FY25 Budget.
Through the Queensland Battery Industry Strategy and the Queensland Energy and Jobs plan there is over $1 billion to support the development of battery and advanced material manufacturing and research in Queensland in line with AMBC and industry submissions.
These initiatives are aligned with the Federal Government’s National Battery Strategy that also delivers $500 million in battery breakthrough production incentives and a collective $14 billion for refining and advanced material research, manufacture and deployment for critical minerals, renewable energy, batteries and battery materials.
The need for these incentives is real and urgent to enable Australia to maximise this supply chain opportunity in a very competitive and fast-moving global environment and to build grid and mobility energy security in a transition where currently 75% of all batteries are manufactured in one country.
The Queensland Government and Australian Government policies announced recently are well targeted and focused on maximising Queensland and Australia’s strengths and meeting our renewable grid and circular economy needs including;
- critical mineral endowment including vanadium, nickel and lithium amongst others.
- refining and material manufacturing expertise including high purity alumina, active materials and coatings,
- significant research, innovation and commercialisation expertise to make the next generation of light and heavy mobility and long duration grid batteries
- long duration energy storage especially using flow batteries,
- deployment and development of integration and management systems for batteries into our grid and homes
- recycling of batteries for the circular economy
ABOUT THE ADVANCED MATERIAL AND BATTERY COUNCIL
The AMBC is the leading battery and advanced materials not for profit industry association in Australia. The AMBC’S purpose is to support the development of a world class multi-technology battery and advanced materials industry supply chain across Australia.
Established in 2022, the industry and research led AMBC;
- provides a collective supply chain and ecosystem voice to help drive policy and knowledge sharing to grow the battery supply chain ecosystem.
- works to accelerate commercialisation and gain government, community and investor support necessary to nurture a sustainable new industry by consolidating and extending collaboration between battery supply chain entrepreneurs, universities and government.
With growing membership giving increasing access to Government, the AMBC is focused on partnerships to create a sustainable industry ecosystem, promoting the needs of its members and becoming the pre-eminent voice for the sector.
ENDS
For enquiries contact
Quentin Hill
0423 968 786