- Australian Vanadium’s (AVL) subsidiary, VSUN Energy, signs a memorandum of understanding (MOU) with North Harbour Clean Energy (NHCE)
- The MOU will see the companies jointly develop and install vanadium redox flow battery (VRFB) projects and vanadium electrolyte supply
- NHCE develops renewable energy and energy storage projects, currently working with the University of New South Wales to optimise VRFB cell design
- The MOU is non-exclusive and will run for two years, with a one-month termination notice required if either party wishes to end the agreement
- Shares are trading 4.26 per cent lower at 4.5 cents each at 12:22 pm AEST
Australian Vanadium’s (AVL) subsidiary, VSUN Energy has signed a memorandum of understanding (MOU) with North Harbour Clean Energy (NHCE).
The MOU will allow the companies to collaborate on the development and installation of vanadium redox flow battery (VRFB) projects and vanadium electrolyte supply.
NHCE develops renewable energy and energy storage projects, and is currently working with the University of New South Wales to optimise VRFB cell design.
The agreement will allow VSUN Energy to assist in the development of NCHE’s existing and future VRFB projects.
Together, the companies will assess market opportunities for VRFB installations, including the potential for local manufacture or assembly of VRFBs and leasing facilities for vanadium electrolyte.
The MOU is non-exclusive and will run for two years, with a one month termination notice required if either party wishes to end the agreement.
“In working together on VRFB projects, VSUN Energy and NHCE will have the opportunity to support the development of large projects through access to a company with strong funding capability,” Managing Director Vincent Algar said.
Shares were trading 4.26 per cent lower today at 4.5 cents each at 12:22 pm AEST.