Phl’s first lithium iron phosphate plant opens in New Clark City
-Art Dumlao- — October 7, 2024
Phl’s first lithium iron phosphate plant opens in New Clark City
President Ferdinand R. Marcos Jr. led the inauguration of StB Giga Factory, the Philippines’ first manufacturing plant for advanced Lithium Iron Phosphate (LFP) batteries at Filinvest Innovation Park, New Clark City in Tarlac on Monday.
Marcos Jr. was joined by Australian Ambassador to the Philippines Hae Kyong Yu, Trade Secretary Maria Cristina Aldeguer-Roque, StB Giga Chairman Trevor St Baker, StB Giga Chief Executive Officer (CEO) Dennis Chan Ibarra, Bases Conversion and Development Authority (BCDA) Chairman Thompson C. Lantion, BCDA President and CEO Engr. Joshua M. Bingcang, government officials, and private sector partners during the inauguration.
“This 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," the President said.
The Giga Battery Manufacturing Plant, funded by Australia-based venture capital firm StB Capital Partners (St Baker), will open up about 2,500 direct and indirect jobs for Filipinos once they reach their full production capacity by 2030. Of these, around 500 will be focused on hiring Filipino engineering, technical, finance and administrative personnel – an initiative that is aligned with the Marcos administration’s goal of reversing the “brain drain” by providing better opportunities for skilled Filipinos in science, technology, engineering, and mathematics.
At full production capacity, StB Giga also estimates pouring in over Php 5 billion annually into the local economy, with contributions coming from businesses, suppliers and partners benefiting from their operations.
The initial production line of StB Giga has a capacity of 300 megawatt-hours (MWh) annually, equivalent to about 6,000 electric vehicles (EVs) batteries or about 60,000 home battery systems in developing countries such as the Philippines. By 2030 at latest, the plant is expected to ramp up to a full production capacity of 2 gigawatt-hours (GWh) per year, producing around 18,000 EV batteries or 400,000 home battery systems. 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.
StB Giga CEO Ibarra said they are thrilled to lead the way “in revolutionizing 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.”
This major investment was among the 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 BCDA on the expansion of its next-generation battery manufacturing plant at Filinvest Innovation Park in New Clark City.
BCDA PCEO Engr. Bingcang said, “to see this 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.”
Positioning itself as the Philippines’ first true renewable energy company, St. Battalion Giga Factory utilizes a battery technology that plays an important role in stabilizing renewable energy grids and enhancing energy security, paving the way for the Philippines' transition to clean energy.
“We are excited to welcome StB Giga, a game changer in its own industry, here in New Clark City. While bringing cutting-edge technology in clean energy, their presence here will help the whole government boost economic growth and provide better and more employment opportunities for the Filipino people,” said newly appointed BCDA Chairman Lantion, who said "will strive more to increase investments not only in Clark but in BCDA's other economic zones as well."
StB Giga is the first locator at the 120-hectare Filinvest Innovation Park, which sits inside New Clark City – a 9,450-hectare greenfield development inside the Clark Freeport and Special Economic Zone positioned to be an inclusive, resilient, sustainable, and smart city.
This major metropolis is being developed to help decongest Metro Manila, and to serve as an investment hub to catalyze growth in Central and Northern Luzon.
