24M is leveraging existing, preferred energy storage chemistry but using a new cell design with semi-solid (a mixture of solid and liquid phases) thick electrodes and manufacturing innovations to deliver what it says will be up to a 50% reduction in current Li-ion costs.

The semi-solid thick electrode is a material science innovation originating in Dr. Yet-Ming Chiang’s lab at MIT. (Dr. Chiang, one of the founders of A123 Systems, is a co-founder and chief scientist for 24M.) (Earlier post.)

The Territory Labor Government wants to secure jobs of the future now. This is why we are supporting innovative investments such as Energy Renaissance’s battery manufacturing project in Darwin, and this is why we want to see 50% renewable energy in the NT by 2030.

—NT Chief Minister, Michael Gunner

Development of a manufacturing facility requires access to a suitable industrial site, supply chain infrastructure, and a skilled and technologically-literate workforce. The Renaissance One facility would much needed economic diversity and generate maximum value-add from available mineral assets, the company said.