Date: Aug 29, 2018
Australian Vanadium (ASX: AVL) has collared an agreement to explore supplying vanadium pentoxide and vanadium electrolyte to German vanadium redox flow battery (VRFB) manufacturer SCHMID.
Under the letter of intent, Australian Vanadium will look at supplying either vanadium pentoxide, vanadium electrolyte, or both from its flagship Gabanintha vanadium project in Western Australia.
Australian Vanadium managing director Vince Algar said the company had been progressing a relationship with SCHMID over the past three years.
“These letters of intent solidify our plans with them moving forward,” he added.
“For a vanadium redox flow battery manufacturer, it is crucial to secure an ongoing supply of vanadium and with our high-grade vanadium deposit moving steadily towards production, we look forward to working closely with SCHMID as a potential client,” Mr Algar said.
VSUN Energy
Concurrent to Australian Vanadium’s agreement with SCHMID, Australian Vanadium’s wholly-owned subsidiary VSUN Energy has also secured a letter of intent with the German battery manufacturer.
The agreement between the parties paves the way for VSUN to offer its potential clients SCHMID’s EverFlow large scale and telecom VRFBs.
“Having the relationship as a two-way partnership with VSUN Energy promoting the EverFlow systems provides a collaborative space for us to do business,” Mr Algar noted.
