Marcos opens first lithium battery plant

Ready for sustainable manufacturing President Ferdinand R. Marcos Jr. inaugurates StB Giga Factory — the Philippines’ first manufacturing plant for lithium-iron-phosphate or EV batteries by Australian firm StB Capital Partners — at the Filinvest Innovation Park, New Clark City, on Monday, 30 September. Joining the President at the ceremonial push button are (from left) Australian Ambassador to the Philippines H. E. Hae Kyong-Yu, Department of Trade and Industry Acting Secretary Cristina Aldeguer-Roque, StB Capital Partners chairman Trevor St Baker and STB Giga president and CEO Dennis C. Ibarra. The StB Giga Factory is expected to generate 2,500 jobs. Photograph by Yummie Dingding for the daily tribune @tribunephl_yumi/PPA POOL

Published on:

30 Sep 2024, 16:56

NEW CLARK CITY — President Ferdinand Marcos Jr. led the inauguration of the Philippines’ first manufacturing plant for lithium-iron-phosphate batteries here on Monday.

The new St Battalion (StB) Giga Factory, funded by the Australian investment firm St Baker Energy, is located at the Filinvest Innovation Park in New Clark City.

The project was part of the investment commitments announced at the ASEAN-Australia Special Summit in March, during which President Marcos secured P86 billion worth of business deals.

According to Bases Conversion and Development Authority (BCDA) president and CEO Joshua Bingcang, StB Giga is the first locator at the Filinvest Innovation Park within the 9,450-hectare New Clark City managed by the BCDA. It is expected to generate around P5 billion annually once it reaches full capacity, providing 2,500 jobs for local engineers, technicians and administrative staff.

He added that the company aims to produce two gigawatt-hours (GWh) of batteries annually by 2030. This output is projected to support around 18,000 electric vehicles (EVs) or nearly half a million home battery systems, positioning the Philippines as a key player in Southeast Asia’s clean energy storage landscape.

President Marcos revealed that the StB Giga plans to expand into the EV market, aligning with the administration’s vision to develop a local EV industry and reduce dependence on imported fuels.

“Once StB Giga reaches its target capacity, the company will have invested around US$35 million in the Philippines,” he said.

BCDA chief Bingcang said the inauguration marks a transformative milestone for StB Giga Factory Inc. as it contributes to the advancements of sustainable energy in the Philippines. “LFP batteries are known for their safety, longevity, and efficiency,” he said.

He added that the new facility will enhance local energy resilience and contribute to the country’s renewable energy goals.

President Ferdinand Marcos Jr.