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- Mayur Resources (MRL) has signed a deal with Gelion Technologies, which will supply Mayur with 100-megawatt hours of battery energy storage from 2022 to 2027
- Gelion will utilise its zinc-bromide non-flow battery storage technology for Mayur’s renewable energy projects in Papua New Guinea
- MRL Managing Director Paul Mulder says the agreement builds on its strategic priorities to produce carbon neutral lime and cement and develop a renewable energy portfolio
- Mayur will also act as Gelion’s sole distributor of the Endure battery to the PNG market during the five-year deal
- Company shares are down 7.69 per cent to trade at 18 cents
Mayur Resources (MRL) has signed a memorandum of understanding (MoU) with Gelion Technologies, which will supply Mayur with 100-megawatt hours of battery energy storage capability.
The energy storage innovator will utilise its zinc-bromide non-flow battery storage technology, the Gelion Endure battery, for Mayur’s renewable energy projects in Papua New Guinea (PNG) and to make the technology available for other customers in PNG.
Gelion’s batteries offer low-cost, renewable energy storage which it claims are well-suited for off-grid environments.
“Gelion’s safe and heat-resistant batteries are ideal for PNG’s tough conditions. We look forward to supplying Mayur with energy storage capability to support its operations and its community’s sustainability objectives throughout the islands,” Gelion CEO Andrew Grimes said.
Meanwhile, Paul Mulder, Managing Director of Mayur, said the agreement aligns with the company’s recent strategic review which involves the development of renewable energy projects and a carbon neutral business.
“The MoU builds on our new strategic priorities to produce carbon neutral lime and cement, as well as develop our renewable energy portfolio, that includes provision of renewables to other industrial players who wish to lower their carbon footprint and improving access to electricity for the communities in which we operate in PNG,” he said.
Today’s news follows Mayur confirming the potential for 500 megawatts of installed solar power capacity within its Special Economic Zone that includes its Central Cement and Lime (CCL) project.
Mayur will also act as Gelion’s sole distributor of the Endure battery to the PNG market during the five-year deal.
Company shares were down 7.69 per cent to trade at 18 cents at 1:30 pm AEDT.
