AVL and E22 to collaborate on offtake of vanadium pentoxide, vanadium electrolyte and battery sales into the Australian and global markets.
KEY POINTS
E22 is a Spanish vanadium redox flow battery (VRFB) manufacturer and subsidiary of global solar and battery specialist Gransolar Group.
AVL is developing the Australian Vanadium Project south of Meekatharra in Western Australia, the world’s next primary critical mineral vanadium mine for high-strength, low- alloy steel and energy storage.
Funded partly by an Australian Government grant, AVL will build a value-adding vanadium electrolyte manufacturing plant in Kwinana, WA, capable of producing 33MWh of energy storage capacity for the VRFB sector.
VSUN Energy, the renewable energy generation and storage subsidiary of AVL, is actively developing markets for VRFBs in Australian markets.
E22’s VRFB products offer a diversity of power and energy storage sizes, providing flexible implementation options in long duration storage.
Australian Vanadium Limited (ASX: AVL, “the Company” or “AVL”) is pleased to announce that in conjunction with its 100% owned subsidiary VSUN Energy, it has signed a Memorandum of Understanding (MOU) with Spanish vanadium redox flow battery (VRFB) manufacturer E22.
Managing Director, Vincent Algar comments, “What attracted us to E22 in particular was the mid- size VRFB that they are able to supply and the credibility offered through their parent company. Small to medium sized commercial applications, in addition to mining and agricultural industries, require a system that is smaller than the majority of the VRFB manufacturers currently supply. The requirement is for a robust and reliable system that can be increased in size and redeployed as needed. We are delighted to be working with the E22 team and have found their engineers to be very responsive and that there is a strong desire to develop this market in Australia.”
E22’s Managing Director, Jaime Vega Marcos comments “We’re sure a sustainable and green future needs a long duration, recyclable and reliable alternative. This collaboration with AVL and VSUN Energy has a high potential in developing a growing market. The strong and reliable proposal that the companies can jointly offer will help bring that boost to VRFB technology deployment.”
E22 manufactures small to large-size VRFBs, with the smaller VCUBE50 being a size that is well suited to the development of VSUN Energy’s standalone power system (SPS). The SPS forms part of the project partly funded through the Modern Manufacturing Initiative (MMI) Australian Government grant that AVL was awarded in July 20211.
The SPS design is currently being finalised by VSUN Energy, with its proposed location for a mining application being powered by a combination of solar and potentially wind. A site has been selected, with final agreement to be confirmed.
The MMI grant also includes funding towards the build of a 33MWh annual capacity vanadium electrolyte manufacturing facility in Western Australia. Primero Group has been engaged for early contractor involvement in the plant build2 which is to be based on technology licensed from U.S. Vanadium LLC3.
The vanadium electrolyte project is part of the Company’s vertical integration strategy, from minesite and processing through to energy storage installation and maintenance.
The VCUBE50 provides 4 hours of power in a 20′ container which includes all monitoring. The system provides at least 20 years of operation with full depth of discharge and no restrictions on cycling.
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