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Local ingenuity attracts overseas know-how and investment to our shores

Category

News

Date

20 November 2014

Project

N/A

A new cost effective storage technology to enable 24/7 renewable electricity is being pursued through a partnership between the Commonwealth’s national science agency, CSIRO and battery liquid developer, Boulder Ionics.

ARENA CEO Ivor Frischknecht announced an investment of approximately $530,000 in Boulder Ionics through the Southern Cross Renewable Energy Fund, established under ARENA’s Renewable Energy Venture Capital Fund Program.

Mr Frischknecht said the project aims to create a pathway to market for a home-grown liquid battery technology with applications for a variety of battery storage uses, including renewable energy.

“Ionic liquids have the potential to provide a cost effective renewable energy storage solution that improves energy distribution and enhances the safety and performance of battery storage,” Mr Frischknecht said.

“This investment will help commercialise Australian research in ionic liquids and catalyse an Australian subsidiary of Boulder Ionics, a dynamic US company.”

“Boulder Ionics will bring its unique ionic liquid production method to experts at CSIRO who will use it to improve the way they make battery electrolytes.”

“This has the potential to greatly reduce costs of ionic liquid production, currently a barrier to commercialising it.”

Mr Frischknecht said Australia has long been a leader in renewable energy technology development.

“This project has the potential to create a local technology that will reduce the cost of renewable energy technologies and advance Australia’s reputation for world-leading renewable energy solutions.”

The Southern Cross Renewable Energy Fund is a 13-year venture capital fund that was established under the Australian Government’s $100 million Renewable Energy Venture Capital Fund Program.