In the lead up to this year’s Federal Budget, the government has announced successful applicants of the $1.3 billion Modern Manufacturing Initiative (MMI) and specifically, the $800 million MMI Collaboration Stream.
Pleasingly, one of the successful MMI Collaboration Stream recipients was Pure Battery Technology (PBT) in partnership with Poseidon Nickel – who was awarded a $120m grant to build a $460M pCAM (precursor Cathode Active Material) Hub in Western Australia.
Grant Thornton Australia is proud to be involved in this proposal, and delighted about the positive outcome for its client. Jacky Millership, Grant Thornton Partner, said: “The successful application, is testament to PBT and the quality of their application and project plan.”
“We congratulate all Australian manufacturers that were successful in the allocation of the MMI Collaboration Stream grant funding. The application process was highly competitive and total funding was shared across only a small number of applications,” continued Jacky.
The pCAM Hub will be the first facility of its kind in Australia and will focus on the production of battery cathode active materials (nickel, manganese and cobalt) - a vital precursor product for advanced electric vehicle battery materials production.
“We are excited to deliver our Western Australian project with the support of the Australian Government and our partners Poseidon Nickel. We have developed our technologies from the ground up, working with Australian Universities and research Institutions to ensure we produce cleanest battery materials on the market. We look forward to delivering the value from these efforts to the emerging Australian battery materials sector,” Mr Zikarsky said.
With the announcement of the successful Collaboration Stream applicants, the $1.3bn MMI is almost fully allocated: two rounds of funding for MMI Integration Stream and Translation Stream were also offered, Round 1 has been allocated and Round 2 results are pending.
Media enquiries please contact:
Mikala Spark
Senior Communications Manager
M +61 412 334 851
E mikala.spark@au.gt.com
