From TFA, the research group will look into "anion batteries". The lightest anions I can see on the periodic table is O2- and F-, which are a lot heavier than Li, and neither has higher electrode potential.
This means that these batteries will never be relevant for mobility applications, since Li is already plenty heavy per energy unit. That's not to say they would be irrelevant: if they can come up with a dirt-cheap stationary battery (say in the range of 10 $/kWh), with decent efficiency, lifetime, safety and so on, it might be a good match for solar and wind plants.
Also, please note that the foreseen shortage of Li is not due to the world running out of it - Li is pretty common. Rather, it is the combination of soaring demand due to EVs and offer not being able to catch up, as no new mines have been opened anytime recently.
As a researcher, this appears to be a run-of-the-mill basic research project, with a typical budget. There is a small chance they will come up with something revolutionary, but don't hold your breath. More likely it will be a stepwise innovation.