A Brisbane manufacturer has landed a Commonwealth grant of nearly $2 million to help accelerate its development of next-generation batteries as part of the first round of the federal government’s new Industry Growth Program.

Li-S Energy has received a grant worth $1.7 million for its high-tolerance lithium foil battery manufacturing process which can produce next-generation, ultra-light batteries.

The funding came through the $392 million Industry Growth Program, which was unveiled in the federal budget last year and officially launched in November.

The program aims to help funnel local manufacturers to the $15 billion National Reconstruction Fund through smaller grants to help small and medium businesses commercialise their products and expand their companies.

The first round of funding through the program has seen just over $7 million provided to five companies, including Li-S Energy.

Minister for Industry Ed Husic attended the official launch of Li-S Energy’s new Geelong manufacturing facility on Monday to announce the funding round.

“Making more things here, strengthening supply chains and keeping our know-how and talent onshore where it belongs – that’s what a Future Made in Australia is all about,” Husic said in a statement.

“Great Aussie ideas can create great Aussie businesses and new Aussie jobs, but in their early years the ideas of these firms can come to a dead-end without critical support.

“Today’s a milestone because now innovative small businesses can see the support starting to flow, helping them grow into bigger businesses.”

Li-S Energy manufactures low-weight and highly durable batteries that are suitable for the unstaffed aviation and defence industries.

The company will be using the funding boost to build the country’s first lithium metal foil manufacturing line, said Li-S Energy CEO Dr Lee Finniear.

“Essential for advanced batteries including our own and adding value to Australia’s own vast lithium reserves, the global lithium foil market is primed for massive growth in the coming years,” Finniear said.

“With Australia mining 52 per cent of the world’s lithium ore, this new sovereign manufacturing capability for lithium foil gives Australia an opportunity to position itself as a leading player in this growth market.”

Minister Ed Husic (centre) opened the new Li-S Energy manufacturing plant in Geelong last Friday. Pictured with Li-S Energy CEO Lee Finniear [L] and the Hon Libby Coker, Federal MP for Corangamite [R]. Photo: Supplied

From blueberry picking to anti-phishing tools

The largest grant from the round went to Cauldron Molecules, with the tech firm landing $4.3 million to develop its fully automated hyper-fermentation device that can make food, animal feed, fibre and fuel.

Electronics Laboratories has received $1 million for its patient radiation dose measurement system, while $231,000 will go to Brandsec, which has created a software tool to remove malicious phishing content from the internet.

The final grant of $158,000 has been awarded to Forager Automation, which is developing a robotic blueberry picking device that aims to reduce labour costs and increase yield efficiency.

The Industry Growth Program consists of two funding streams.

The early-stage commercialisation grants involve matched grant funding of $50,000 to $250,000 for the establishment of commercial viability of an innovative product, service or process, while larger grants of up to $5 million are on offer for taking an idea from prototyping through to market readiness.

The scheme is aligned with the National Reconstruction Fund’s seven priority areas and aims to assist companies prepare to apply for larger amounts of funding.

The National Reconstruction Fund was a key election policy from Labor and was passed into law in March last year, but is yet to deliver funding to the local industry.

It will provide loans, credit, bonds or equity investments into Australian companies across the seven priority areas, and also partner with institutional investors, private equity and venture capital.