Energy Renaissance, Australia's first lithium-ion battery manufacturer, has chosen the NSW Hunter as the location for its new $28 million battery manufacturing facility.
The 4,000 square metre purpose-built facility, known as Renaissance One, will have an initial battery production capacity of 66 megawatt hours per annum, with plans to scale its Australian operation to 5.3 gigawatt hours of energy storage per annum with an additional investment of more than $200 million.
The plant will directly employ 1700 people when it reaches full capacity in about five years. Another 6500 indirect jobs will flow from the project.
"At the moment it is financed by our current investors and some of our initial customers. As we grow it will be financed from our own balance sheet. We are currently in discussions with the federal government and we are optimistic about gaining funding to accelerate the fulfillment of the facility," Mr Chilcote said.
"Our current deployment plan is over 10 years we can bring that forward to five years if we accelerate the jobs growth and the upstream benefits."