Livium has secured a $30 million grant for its lithium ferro phosphate (LFP) demonstration plant.
The funds were awarded by the Australian Renewable Energy Agency (ARENA) and is expected to cover 50 per cent of the estimated funding required to build and complete two years of operation at the plant.
Once the plant has been up and running for two years, Livium expects to secure binding LFP offtake contracts to allow for commercial scale-up.
“This grant from ARENA represents a significant step forward for our battery materials commercialisation,” Livium chief executive officer and managing director Simon Linge said.
“The independent due diligence undertaken as part of the funding validates our technology and the ARENA grant is expected to facilitate further strategic private capital to complete funding for the LFP demonstration plant.”
ARENA chief executive officer Darren Miller said the LFP project would be a potential breakthrough in cathode powder technology.
“If the project is successful, it could help catalyse competitive manufacturing of cathode powders and help diversify supply chains,” Miller said.
“As global demand for energy storage rises, domestic advancements in cathode powder positions Australia as a leader in advanced battery manufacturing, giving us opportunities to contribute to global supply chains and create new economic opportunities in renewable energy innovations.”
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