ASX-listed vanadium developer Technology Metals Australia has launched a feasibility study (FS) for the production of vanadium electrolyte in Australia.
The proposed plant would use Technology Metals’ low-cost, high-purity vanadium pentoxide from its West Australia-located Murchison technology metals project (MTMP) to produce vanadium electrolyte to support the growing market for longer duration energy storage batteries in Australia.
Technology Metals partner Le System Co will provide technical support for the feasibility, under an existing memorandum of understanding (MoU), which has been extended until at least the end of June 2023.
Under the MoU, Technology Metals will have access to LE System’s knowledge, expertise and experience in the production of vanadium electrolyte. In addition, Technology Metals and LE System are continuing discussions on the future licensing of electrolyte production technology and the supply of vanadium from the MTMP to LE System’s own electrolyte plant in Japan.
Technology Metals said on Thursday that to accelerate the production of vanadium electrolyte to supply Australian vanadium redox flow batteries (VRFBs), the company had also established a wholly owned subsidiary, vLYTE, which would be working closely with LE System to progress the FS and ultimate commercialisation of the vanadium electrolyte business in Australia.
“As we move closer to a development decision on the MTMP vanadium project, we are increasing our focus on these downstream project enhancement initiatives,” Technology Metals MD Ian Prentice said.
“With an increased need for optimisation of renewable energy generation, there is a growing market for longer duration battery storage technologies such as VRFBs.
“With Technology Metals on track to be the world’s next pure, low-cost vanadium producer, the company is well placed to become the preferred supplier of vanadium for these batteries .”
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