Trade Coast (WTC) to maximise research and development, commercialisation and integration in and across key industries. To maximise these facilities, specialist expertise from around the world needs to be encouraged to locate to Kwinana and to set up partnerships for mutual benefit. The core requirement that will attract people and investment to create Lithium Valley in WA is if there is a clear commitment to making the highest quality energy materials along the value chain. Battery manufacturers are already raising their quality requirements beyond what any producer can currently do. This will require world’s best technical capability in the industries and universities associated with this venture. It will need smart systems for monitoring in the field and inside industrial processes and constant upgrading to be ahead of the game. This will give the innovation edge that no other global producer of New Energy metals can provide. It would provide the basis for local research and development programs to work in parallel with the producers of current-generation production of storage, power and drive components, in order to develop next generation components right through the industry stages to the utilisation of new energy in households and business across the city and regions. Australia has considerable capability in and utilisation of advanced technology in the processing of metal ores. This capability should be incentivised to extend our technology into the processing of all of the new energy materials, especially those that lead to the production of rare earth magnets, battery precursors (cathodes and anodes) and even the extraction of key materials from complex e-waste mixes. The development of micro-grids and Peer-to-Peer trading of renewable energy is happening in Perth as a global first and can help establish the kind of research centre that will be world-leading. A Federal Government-funded CRC on New Energy Industry, supported by State Government funds already committed and announced, would be a major step towards establishing Lithium Valley industries in WA. 3.2.3. Commercialization of innovation Facilitate innovation in New Energy to be commercialised In order to ensure the highest value return from New Energy metals there is a need to establish innovation support, risk management and procurement processes that can enable these new energy industries to be commercially successful. A critical factor in the commercialisation of products from innovative or “start-up” customers is having easy access to customers. In 2017, the Queensland University of Technology (QUT) completed a three-year long project to design and produce a lithium-ion battery. The project was funded by a $4M investment from Australian and Malaysian Governments and included construction of a pilot manufacturing plant with a demonstrated battery. This is an admirable accomplishment however, this is not yet a viable commercial operation. Research and development activity is very important but will be most effective when conducted in parallel with established industries. Government organisations and government trading entities have social and longer-term drivers, in particular new generation power storage and are better able to justify risks against benefits to their stakeholders. The Federal Government’s new Infrastructure and Projects Finance Authority is set up to enhance risk management strategies. With this type of government support, a fully functional battery manufacturing operation, can be established, perhaps based on the results of the QUT project or other Australian innovation. However, given the urgency for Australia to rapidly build commercial products, the immediate emphasis should be on attracting technology partners that can immediately deliver manufacturing processes, product designs and global customers. Such a facility could be up and running within one year, producing cells to meet existing commercial demands and developing next generation power storage. This is given as an example of how quickly innovation can be turned into value adding economic activity in the Kwinana SIP of Lithium Valley.
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