MINISTER FOR INNOVATION
Wednesday, January 12, 2005
VICTORIAN GOVERNMENT INITIATIVE JUMPSTARTS NEW BIGGER BATTERY PROJECT
A major new breakthrough in battery storage and generation technology looks set to be commercialised in Australia, thanks to a Victorian Government initiative, the Minister for Innovation, John Brumby, announced today.
The Centre for Energy and Greenhouse Technologies (CEGT) will invest up to $1 million in V-Fuel Pty Ltd to assist commercialisation of its new Vanadium Bromide Redox Flow Batteries.
"The new batteries are very efficient, much smaller in size than current storage batteries, and can be used tens of thousands of times without affecting performance," Mr Brumby said.
"This gives them a distinct advantage over conventional batteries which are usually bulky and can only be charged and discharged a limited number of times."
A major application is in storing energy collected from renewable resources such as solar, wind and tide generation and making that energy available on demand when these energy collection conditions are low.
Other applications include supplementing domestic and industry electricity supplies or supply back to the main grid, as well as emergency power backup and power supplies in remote areas.
The CEGT was established in August 2003 with $14.25 million in seed funding from the Victorian Government.
The Centre is run by industry to assist commercialisation of new energy-specific technologies, particularly at the new and emerging pre-commercialisation stage.
"Technologies like this show the CEGT and industry is serious about maximising the commercial benefits of our energy discoveries and delivering real outcomes so Victoria can meet its future energy demands," Mr Brumby said.
Initially the Centre's funding will target development and demonstration of a five kilowatt battery prototype.
Further information about the project is available by contacting the CEGT, 613 5122 1941.