Work on the Hunter's next large scale battery manufacturing facility could be underway by the end of the year if demand grows as predicted.
Energy Renaissance's newly completed 4,000 square metre facility at Tomago, Renaissance One, is due to commence production next month.
Chief executive Brian Craighead said on Friday that he expected work on an adjoining facility Renaissance Two would commence sooner rather than later.
"It's no secret we are looking at Renaissance Two. The trigger for that will be once we have filled 80 per cent of the orders for the next two or three years it will be time to start building again," he said.
"If the wind is behind our back and we fill our order book like it looks like we might, we might be diving into it faster than you think. It certainly won't be years away."
An independent economic impact analysis undertaken by the company showed that 720 jobs would be created by the Renaissance One (battery manufacturing) and Renaissance Two (cell manufacturing) facilities.
"We need to get our act together and the way to do that is to get everyone in the country who is focused on this to coordinate this activity," he said.
"It is insane that we have not had a national game plan on maximising parts of the value chain when it comes to storage technology. Obviously people think about electric vehicles but the big thing is energy storage systems for homes, commercial premises and industry."
He said the strategy would underpin the success of companies such as Energy Renaissance in regional Australia.
"We have got a big challenge in this country; we need to electrify as much of what we currently do as possible. We need to generate power through new cleaner fuel sources but the other part of this equation is around storage," he said.
"We were elected on a platform to cut emissions, to be able to grow jobs, revitalise manufacturing but importantly open up opportunities in our regions to ensure that as many people as possible are benefiting."
Hunter MP Dan Repacholi said the Energy Renaissance project would benefit the entire Hunter Region and beyond.
"We are talking 700-750 jobs that's huge. We need this in the Hunter and we need it in many other parts of Australia as well," he said.
"Whatever we mine we should be manufacturing here and processing here and using in our own products. We need to bring manufacturing back and this is a great way to do it."
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