Joint media release with The Hon Chris Bowen MP, Minister for Climate Change and Energy.

The Albanese Government is helping Australian innovators cut the costs of lithium-ion batteries, increase battery storage capacity and help deliver longer driving ranges for EVs.

Through the Australian Renewable Energy Agency (ARENA), the government is investing $4 million to support new silicon anode technology that gives lithium-ion batteries much higher energy density.

This higher energy density means future batteries could supply the same amount of power while being smaller, lighter and cheaper.

The government’s investment will support Australian company AnteoTech’s $11.1 million project to bring its commercial technology to market.

The global demand for lithium-ion batteries is expected to ramp up from 700 GWh of annual demand in 2022 to around 4,700 GWh by 2030 – mainly due to EVs.

Minister for Climate Change and Energy, Chris Bowen, said Australian innovation was delivering better batteries that could help electrify homes and cars across the world.

“We’re investing in home-grown technology that has the potential to drive down the cost of batteries and make them more efficient,” Minister Bowen said.

“If the project is successful, it would help extend the range of electric cars and reduce the costs and size of home batteries."

Minister for Industry and Science, Ed Husic, said Australia is a pioneer in battery tech, keeping our smarts onshore will create more well-paid secure jobs.

“With the global demand for batteries set to grow sixfold by 2030, Australia must be a player in this field.

“We’ve got a once-in-a-lifetime opportunity for Australia to scale-up battery manufacture in Australia and take advantage of the global transition to net zero," Minister Husic said.