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Mike Cannon-Brookes concedes battery bet with Elon Musk

Atlassian co-founder Mike Cannon-Brookes says he has "never been more happy to lose a bet" than his high-profile wager with fellow billionaire Elon Musk over the installation of the world's largest lithium battery in South Australia.

Mr Musk promised Mr?Cannon-Brookes in March that Tesla would install the 100 megawatt hour energy storage plant in the state within 100 days of a contract being signed or it would be free. The clock started ticking at the end of September.

With the batteries now installed and?set to begin testing?next week, indicating Tesla has met its self-imposed deadline, Mr Cannon-Brookes conceded?the bet via Twitter on Thursday.

Mr Musk and Mr Cannon-Brookes struck the deal over Twitter as debate raged about security of energy supply in Australia, sparked by blackouts across South Australia in?September last year?after a?freak?storm.?

Mr Cannon-Brookes jumped on a claim by Tesla's vice-president for energy products, Lyndon Rive, that Tesla's batteries could fix the state's energy woes in 100 days, asking Mr Musk if he was serious.


Mr Musk accepted.

Though many companies from around the world expressed interest in developing the large grid-scale battery, South Australia?announced?Tesla as the principal builder in July, in conjunction with French renewable energy Neoen.

The 100-day countdown officially started 56 days ago on Friday, September 29, when SA-based electricity transmission company Electranet signed an agreement to install Tesla's batteries.

The batteries are designed to provide a back-up power system for South Australia. Estimates suggest the plant could power 30,000 homes for eight hours, or 60,000 homes for four.

They are part of a larger energy plan for South Australia, and Premier Jay Weatherill?said in a statement regarding the batteries' testing:?"We are delivering our energy plan, making South Australia more self-sufficient, and providing back up power and more affordable energy for South Australians this summer."

The project represents a win for Tesla, which has sometimes?struggled to meet ambitious deadlines?on other projects.

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