Australian-backed Philippines lithium battery factory targets 2 GWh capacity

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An Australian-funded lithium iron phosphate (LFP) battery gigafactory has hit go on its production line in the Philippines, 113 kilometres northwest of Manila in the Filinvest Innovation Park (FIP), New Clark City.

Funded by Brisbane-based private equity firm StB Capital Partners, founded by energy billionaire Trevor St Baker, the $180 million (USD 124 million) battery manufacturing plant will initially have a production capacity of 300 MWh annually, equivalent to about 6,000 electric vehicles (EVs) batteries or 60,000 home battery systems in developing countries such as the Philippines.

By 2030, the StB Giga factory is expected to reach full production capacity of 2 GWh per year, producing around 18,000 EV batteries or 400,000 home battery systems annually.

It plans to export 70% of its output to Australia, Southeast Asia and North America, with the remainder of its output to be distributed within the Philippines.

About 2,500 direct and indirect jobs for Filipinos will be created at the factory by 2030, of which 500 will be local engineering, technical, finance and administrative personnel.

The StB Giga factory in the Philippines is expected to reach full production capacity of 2 GWh per year, by 2030.

Image: Philippine Board of Investments

StB Giga Chief Executive Officer Dennis Chan Ibarra said the company is thrilled to lead the way in revolutionising energy storage in the Philippines.

“This factory represents not only our commitment to innovation and sustainability but also our dedication to contributing to the nation’s energy security and economic growth,” Ibarra said.

The major investment was among pledges received during the Philippine Business Mission, led by President Marcos Jr., in Australia in March 2024.

StB Giga signed a memorandum of understanding with the Philippine’s Bases Conversion and Development Authority (BCDA) on the expansion of the next-generation battery manufacturing plant in New Clark City.

BCDA President and Chief Executive Officer Engineer Joshua Bingcang said seeing the project come to fruition after just a few months is a clear vote of confidence in the Philippine economy and the Filipino talent.

“An investment as big as this conveys one message: Clark is able and ready to welcome more investments from various sectors across the globe,” Bingcang said.

BCDA Chairman Thompson Lantion said StB Giga is a game changer in its own industry.

“While bringing cutting-edge technology in clean energy, their presence at Filinvest Innovation Park will help the whole government boost economic growth and provide better and more employment opportunities for the Filipino people,” Lantion said.

Officially opening the facility, Phillippines President Bongbong Marcos Jnr said the investment sends a message to the world, that the Philippines is now ready to innovate and lead to become a go-to destination for high-tech, high-impact investments.

Marcos said the project is the result of a strong alliance between the governments of the Philippines and Australia and a product of a successful public-private partnership (PPP).

The Phlippine’s first lithium battery factory is funded by Australian equity firm, StB Capital Partners.

Image: St B Giga Factory

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