Resources and chemicals group Australian Vanadium (ASX: AVL) has signed an agreement which could see its services and products sold into the China market.
The company, which is developing large-scale vanadium deposits and manufactures vanadium battery electrolyte, signed agreements with Hebei Yanshan Vanadium and Titanium Industry Technology Research Co to allow the negotiation of a purchase agreement.
The Chinese company is a subsidiary of HBIS Group Chengsteel, one of the world’s largest steelmakers with 120,000 employees.
The Australian company aims to produce value-added products to the steel industry and specialty chemical sectors.
Australian Vanadium recently reported the sale of a vanadium redox flow battery (VRFB) energy storage system to be installed at a dairy farm in Meredith, Victoria.
Vandium redox flow batteries are preferred for large-scale stationery uses as they are non-flammable and able to discharge 100 per cent of their energy without harming the system.
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