Interesting article regarding Australian Vanadium's deal with a Spanish Redox Battery company - articles from proactiveinvestors.com
Australian Vanadium signs MOU with Spanish vanadium redox flow battery specialist
AVL and E22 will collaborate on offtake of vanadium pentoxide, vanadium electrolyte and battery sales into the Australian and global markets.
E22's 250kW/675kWh VRFB installed in Zamora, Spain.
Australian Vanadium Ltd (ASX:AVL) has signed an MOU with Spanish company E22, a subsidiary of global solar and battery specialist Gransolar Group, with the intention of supplying vanadium for the manufacture of E22’s next-generation vanadium redox flow batteries (VRFBs).
VRFBs are used in grid energy storage, with renewable applications across mining, agriculture as well as for smaller standalone power systems (SPS).
E22’s VRFB products offer a diversity of power and energy storage sizes, providing flexible implementation options in long-duration storage.
With the help of an Australian Government grant, AVL will supply vanadium for its vanadium electrolyte manufacturing plant to be built in Kwinana, WA, capable of producing 33MWh of energy storage capacity for the VRFB sector.
AVL is also 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.
The Memorandum of Understanding (MoU) signed by AVL in conjunction with its 100%-owned subsidiary VSUN Energy includes:
Supply of vanadium pentoxide for E22’s global battery installations; Vanadium electrolyte supply for Australian VRFB installations; Vanadium electrolyte leasing for Australian VRFB projects; and Sale of VRFBs through VSUN Energy.Emerging market in Australia VSUN Energy, the renewable energy generation and storage subsidiary of AVL, is actively developing markets for VRFBs in Australia.
“What attracted us to E22, in particular, was the midsize VRFB that they are able to supply and the credibility offered through their parent company," AVL managing director Vincent Algar said.
“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.”
The MOU provides a basis for opportunities relating to VRFBs, including:
Vanadium products (V2O5) offtake to E22 in Spain to support global battery sales;Vanadium electrolyte manufacture and supply in Australia for E22 VRFBs; andSales agreement with AVL subsidiary VSUN Energy for VRFB sales in Australia.E22’s managing director Jaime Vega Marcos said: “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.”
The vanadium electrolyte project is part of AVL's vertical integration strategy, from mine site and processing through to energy storage installation and maintenance.
Scalable solutions E22 manufactures small to large-size VRFBs. The smaller VCUBE50 is well suited to the development of VSUN Energy’s SPS, which forms part of the project partly funded through the Modern Manufacturing Initiative (MMI) Australian Government grant that AVL was awarded in July 2021.
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.
VSUN Energy also offers VRFBs from other manufacturers, enabling systems from 5kW through to 60MW+ to be offered to customers.
- Susanna Nelson |
