Graphite Energy, known for its proprietary thermal energy storage system for the decarbonisation of industrial and manufacturing operations, has today begun development on the first stage of its $29 million Lake Cargelligo facility in New South Wales.
Graphite Energy’s Lake Cargelligo facility has now commenced construction, marking the first stage of the company’s Lake Sustainable Energy Precinct masterplan, which will generate renewable energy to power sustainable agriculture and create a robust circular economy.
The project aims to demonstrate how renewable energy and agriculture can coexist, using industry advancements to enable renewable energy sources without forgoing farmland.
It will serve as an Australian-first pilot model that can be scaled and replicated throughout Australia and the rest of the world.
Graphite Energy Chief Executive Officer Peter Lemmich said the progress made on the precinct is a significant step forward for energy independence and a cleaner, greener future.
“We are so pleased to see the development take shape and have our mission of transitioning to a lower carbon economy come to life.
“Building the Lake Sustainable Energy precinct to be a pioneer in the pathway for the decarbonisation of agriculture and a greener future is now becoming a reality,” said Lemmich.
The project is a collaborative effort between Graphite Energy and Cygnus Ag, as well as other key stakeholders from industry, research and government.
It aims to demonstrate how renewable energy and agriculture can coexist, using industry advancements to enable renewable energy sources without forgoing farmland.
Construction of the first stage is earmarked for completion by July 2024.