In Victoria, there is Li-S Energy which has developed a 20-layer battery cell using its third-generation (GEN3) semi-solid state lithium sulfur technology which packs in 45 per cent more energy density and is safer and more reliable than lithium-ion batteries.
Are lithium-ion batteries the future of Australia?
In 2024, lithium-ion batteries accounted for a considerable portion of the Australian battery market, surpassing lead-acid batteries in residential and industrial applications. Australia's top lithium battery manufacturers, such as Tesla and BYD, play a significant role in energy transformation.
A landmark report confirms Australia is capable of manufacturing several components required for lithium-ion and flow batteries, and Australia is well positioned to expand its role in the global battery supply chain — particularly in long-duration storage technologies.
Renaissance had planned to make lithium-ion cells in Australia, but couldn't secure a source of battery materials. Instead, it assembles batteries from imported lithium-ion cells, with plans to one day make its own. Recharge, meanwhile, plans to buy most of its battery minerals from overseas, until it can source them locally.
Why is Australia a leader in the lithium battery supply chain?
As one of the world's largest lithium producers, Australia holds a strategic advantage in the global lithium battery supply chain. With rich deposits of hard rock lithium, Australia is well-positioned to benefit significantly from the growing demand for lithium batteries as the world shifts towards cleaner, renewable energy sources.
How much lithium is produced in Australia?
"At the moment Australia produces about half of the world's lithium, but once it's mined out of the ground, it's shipped offshore, with all of the value-creation activities such as processing and battery manufacturing occurring overseas.
How does Australia make lithium ion cells?
The step of cell manufacturing captures almost half the total revenue, but Australia currently doesn't manufacture lithium-ion cells at scale. Instead, its contribution is almost entirely through mining, which accounts for three cents in every dollar of total value.