“Having NAB on board has taken place after significant due diligence by all parties involved,” said Magnis chairman Frank Poullas in comments to the Townsville Bulletin.“The fact they are confident they can work with us raise the necessary funds to get Townsville up and running is a huge testament to us.“This is huge for us,” Poullas said.As we have reported , the iM3TSV consortium is headed by Boston Energy and Innovation, a company led by former Macquarie Bank senior executive Bill Moss, and also includes Eastman Kodak and US battery storage production specialists C4V and C&D Assembly.
Swedish wind farm developer Vattenfall has announced today it has launched a pilot project to explore storing energy from wind and solar in salt. Vattenfall claim the project could develop a “salt battery”, able to story up to ten times more energy and for much longer periods of time than its water-based equivalent.
Magnis, which has a 33 per cent stake in the project, said on Thursday that a nearly completed draft feasibility study and report had proposed developing the 18GWh gigafactory in three 6GWh phases.
If taken advantage of to its fullest extent, sunlight beamed on the earth for 1 hour could meet world’s energy demands for an entire year!
“This not only reduces the upfront capital requirement but also allows for the project expansion to occur in line with market development,” the statement said.The proposed site for the gigafactory is the Lansdown Industrial Precinct, an environmentally sustainable advanced manufacturing, processing and technology estate being developed by council in Woodstock, about an hour south of Townsville.Magnis said on Thursday that the Townsville City Council would assume a small stake in the project for the provision of land at the site.
The plan, now, is to focus on getting a development application submitted to Townsville City Council, and to ramp up engagement with local business.
Magnis said the project continued to receive strong support from all levels of government.
“Having NAB as the financial advisor … is a huge step forward as we continue to tick the boxes,” said Magnis managing director Marc Vogts.“From day one we believed that the Townsville project is imperative for Australia’s energy security, and I believe that all forms of government share my sentiments,” he said.
More : gigafactory , iM3TSV , Imperium3 , lithium-ion , Magnis Energy Technologies
Water wheels were once used to generate power. Water is one of the oldest power generators. You can work with your kids to help them build one at home. This is a straightforward but efficient way to explain how water can create power, even if the wheels are not the most conventional method. They’re so simple that you can easily make them with things from around the house. Even preschoolers would love to be involved.