PERTH (miningweekly.com) – ASX-listed Australian Vanadium has inked a memorandum of understanding (MoU) with Singapore-based vanadium redox flow battery (VRFB) manufacturer V-Flow Tech.
The non-binding MoU includes the potential development of vanadium pentoxide offtake agreements to support global battery sales by V-Flow Tech, as well as vanadium electrolyte manufacture and supply for VRFB installations in Australia, battery sales in Australia, and battery installation, service and maintenance in Australia.
The MoU is valid for a term of two years, with the option to renew for a further 12 months by agreement.
“As Australian Vanadium confirms its offtake partner strategy for the Australian Vanadium project, both battery and steel customers from diverse geographical regions will underpin our vanadium product sales,” said MD Vincent Algar on Tuesday.
“VRFB manufacturers around the world have their own particular product strengths and capabilities, offering variants of sizes and capacity. V-Flow’s small VRFB is now available from Australian Vanadium subsidiary VSUN Energy to small commercial and residential customers, supporting a rapidly growing market sector in Australia.
“VSUN Energy is actively working on deployment of V-Flow VRFB’s into projects in the Australian market, as well as the South-East Asian market,” Algar added.
He noted that the growing market for VRFB’s was an enabler for Australian Vanadium’s vertical integration strategy to add value to its mined vanadium in Australia.
Potential job creation would come through electrolyte manufacturing, battery sales, installation and maintenance.
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