Philippines' first LFP battery fab switches on

An LFP battery gigafactory has hit go on its Philippines production line 113 km northwest of Manila, at the Filinvest Innovation Park in New Clark City.

Funded by Brisbane-based private equity investor StB Capital Partners – which was founded by energy billionaire Trevor St Baker – the AUD 180 million ($124 million) manufacturing plant will initially have an annual production capacity of 300 MWh – enough to supply around 6,000 electric vehicle (EV) 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 – around 18,000 EV batteries or 400,000 home systems.

StB plans to export 70% of the site’s output to Australia, Southeast Asia, and North America, with the remainder to be distributed in the Philippines.

Around 2,500 Filipino jobs will be created by 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 Dennis Chan Ibarra said the company is 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,” said the CEO.

Finance for the gigafab was among the pledges received during a Philippine business mission led by president Ferdinand “Bongbong” Romualdez Marcos Jr to Australia in March 2024.

StB Giga signed a memorandum of understanding with Philippines government agency the Bases Conversion and Development Authority (BCDA) committing to expand the next-generation battery manufacturing plant in New Clark City.

The BCDA works to promote infrastructure development on former military bases and its CEO and president Joshua Bingcang said seeing the battery factory project come to fruition after just a few months was a clear vote of confidence in the Philippine economy and in Filipino talent.

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

BCDA Chair Thompson Lantion said StB Giga is a game changer in its 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,” said Lantion.

Opening the facility, President 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-technology, high-impact investments.

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