The memorandum of understanding with the vanadium redox flow battery (VRFB) producer sets the stage for the two companies to reach formal agreements relating to the sales, service and maintenance of V-Flow’s batteries in Australia and the offtake of vanadium pentoxide to support V-Flow’s global battery sales.
It also covers the potential manufacture and supply of vanadium electrolyte for VRFB installations in Australia.
Australian Vanadium (ASX:AVL) had last month sold its first standalone vanadium battery system with batteries supplied by V-Flow Tech to a residential customer in regional Western Australia.
“As AVL 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,” managing director Vincent Algar said.
“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 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 VRFBs into projects in the Australian market, as well as the south-east Asian market.”
Vanadium redox flow batteries
VRFBs are generally accepted to be safer and longer lasting than lithium-ion batteries with proven credentials for large-scale systems.
Their virtually unlimited cycles and ability to operate in a wide range of temperatures make them well suited for regional applications, particularly in the Australian outback.
Australian Vanadium subsidiary VSUN Energy plans to market V-Flow’s batteries to both on and off-grid residential customers, telecommunications and grid-attached small commercial settings.
It added that growing the market for VRFBs is an enabler for its vertical integration strategy to add value to its mined vanadium in Australia.
Potential job creation will come through electrolyte manufacturing, battery sales, installations and maintenance.
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