- Australian Vanadium (AVL) and its subsidiary, VSUN Energy, have signed a non-binding deal with Spanish vanadium redox flow battery (VRFB) manufacturer E22
- Under the two-year deal, the companies are collaborating to pursue opportunities in the VRFB sector
- More specifically, the MoU involves the supply of vanadium pentoxide for E22’s global battery installations, and the manufacture and supply of vanadium electrolyte in Australia
- E22 says the companies’ combined offerings will help “bring that boost to VRFB technology deployment”
- Company shares are trading steady at 2.4 cents
Australian Vanadium (AVL) and its subsidiary, VSUN Energy, have signed a deal with Spanish vanadium redox flow battery (VRFB) manufacturer E22.
The memorandum of understanding will see the companies collaborate to pursue opportunities relating to VRFBs including offtaking vanadium products to support E22’s global battery sales, and vanadium electrolyte manufacturer and supply in Australia for E22 VRFBs.
This deal also includes a sales agreement with VSUN Energy for VRFB sales in Australia.
E22 makes small to large-size VRFBs with the smaller VCUBE50 size being well-suited to the development of VSUN’s standalone power system (SPS).
The SPS design is being finalised, a site has been selected and a final agreement is yet to be confirmed. In addition, AVL will build a vanadium electrolyte manufacturing plant in WA which is capable of producing 33 megawatts per hour of energy storage capacity for the VRFB sector.
AVL Managing Director Vincent Algar was pleased to be working with E22 who the company said has a strong desire to develop the market 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,” he said.
“Small to medium-sized commercial applications require a system that’s 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.”
E22 Managing Director Jaime Vega Marcos also commented on the collaboration.
“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 non-binding MoU has a two-year term but may be renewed for a further 12 months if both parties agree.
Company shares were trading steady at 2.4 cents at 3:29 pm AEDT.