THE BOURSE WHISPERER: Lithium Australia (ASX: LIT) announced it is forming a business partnership with Chinese battery producer DLG Battery Co. Ltd (DLG).
Lithium Australia said the partnership would be launching a new range of lithium-ion batteries (LIBs) in the Australian market, with a focus on industry-scale energy storage systems (ESS).
The company’s new marketing division will be known as Soluna Australia Pty Ltd and will provide technical support, customer service and, importantly, a range of lithium-iron-phosphate (often referred to as lithium-ferro-phosphate or LFP) battery options for greater safety and superior performance in ESS applications.
From a new Australian-based facility, Soluna Australia will supply and service a range of energy-storage products – from residential energy-storage through to industrial energy storage units.
Custom products for applications such as large-scale storage (including microgrids), will be provided to bespoke specifications.
Lithium Australia said that establishing an Australian warehousing and technical facility will provide greater certainty for ESS users currently relying on offshore suppliers.
The company noted that Australia leads the world in the installation of rooftop solar and domestic energy storage units and has also led the world in the installation of utility-scale ESS and the development of microgrids relying on battery storage for load levelling.
Remote hybrid-power applications can allow consumers the advantage of substituting diesel generating capacity with renewables, provided an efficient battery pack forms part of the installation.
Soluna Australia is assessing the potential for installing a number of hybrid power management systems for evaluation in the local energy market.
“Our partnership with DLG, a leading Chinese battery producer, provides an opportunity to establish our new division, Soluna Australia, as a leading Australian-based provider of LIBs and technical solutions to the fast-growing ESS market that sits in our own backyard,” Lithium Australia managing director Adrian Griffin said in the company’s announcement to the Australian Securities Exchange.
“In addition, Lithium Australia is well on the way to meeting the requirements that will enable VSPC to commercialise its cathode materials and provide Australia with access to purpose-built LFP battery storage, the safest and most effective option for energy storage systems.”