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PPK Group Limited ( (AU:PPK) ) has provided an announcement.
PPK Group’s subsidiary PowerPlus Energy has secured a $2.3 million grant from the Australian Renewable Energy Agency’s Battery Breakthrough Initiative to help fund a $6.7 million project expanding semi-automated battery module manufacturing in Melbourne. The investment will triple annual capacity to as much as 150 MWh, enabling the company to serve more customers in agriculture, utilities and eco-resorts and to offer toll manufacturing for other domestic battery firms, reinforcing Australia’s local battery supply chain in the face of growing competition from low-cost imports.
Backed by local suppliers and aligned with the Future Made in Australia policy, the project is intended to cement PowerPlus Energy’s position as the country’s largest battery pack manufacturer and strengthen its ability to innovate and compete. ARENA views the expansion as a key step in building national battery manufacturing capability to support the clean energy transition, with anticipated flow-on benefits for Australian industry participants and the broader economy.
More about PPK Group Limited
PPK Group Limited is an Australian-listed company with a 75.4% stake in PowerPlus Energy, a major domestic manufacturer of battery modules for stationary energy storage. PowerPlus Energy focuses on locally designed and produced battery packs tailored to Australian conditions, servicing sectors such as agriculture, utilities and eco-tourism while supporting local supply chains.
Average Trading Volume: 33,806
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$27.11M
See more data about PPK stock on TipRanks’ Stock Analysis page.