Ecoult CEO John Wood says the ARENA funding will help take the technology global.

Sydney-based battery developer Ecoult is eyeing the huge Indian market after winning Australian government funding to help it cut the cost of its new-generation lead storage device and take the technology global.

While lithium-ion batteries are grabbing the limelight in the public debate around energy storage, lead remains the dominant technology globally, by a factor of about seven, pointed out Ecoult chief executive John Wood.

That provides an existing supply chain and maintenance expertise that Ecoult is taking advantage of with its UltraBattery and smaller scale UltraFlex batteries.

Ecoult's technology, originally developed by the CSIRO, involves using proprietary software and a "secret source" electrolyte to transform traditional lead technology to make it work for the modern power system, said Ivor Frischknecht, head of the Australian Renewable Energy Agency, which is providing the $4.1 million funding.

Read the full article on the Financial Review website.