Richmond Vanadium Technology leads Australian battery project development plan

• Project development agreement executed with RKP.
• Developing Australian vanadium flow battery opportunities.
• Initial Australian project development platform for agreed projects.
• RVT retains 100% ownership of Richmond–Julia Creek vanadium project.

Richmond Vanadium Technology (ASX: RVT) has executed a binding development agreement with international long-duration energy storage specialist RKP Global to progress an Australian battery development opportunity.

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The collaboration framework is intended to support the development of an Australian-led vanadium battery project and a delivery platform capable of supporting future long-duration energy storage opportunities, including project-specific SPVs, financing structures, electrolyte localisation initiatives and broader mine-to-battery supply chain development over time.

The parties intend for the framework to support the evaluation of opportunities across multiple Australian jurisdictions and industry sectors over time.

Under the framework, RVT Energy (RVTe), RVT’s wholly owned energy development subsidiary, will act as the initial Australian development and coordination platform for agreed projects, while preserving flexibility for future project-specific structures, financing arrangements and downstream localisation initiatives associated with the Richmond–Julia Creek vanadium project.

The agreement follows more than two years of engagement between RVT and RKP regarding opportunities to support the development of an Australian vanadium battery industry and mine-to-battery supply chain.

During May CY26, representatives of RVT met with RKP executives and technical personnel in Dalian, China, to review potential collaboration opportunities, Australian project development pathways and future electrolyte localisation initiatives associated with the Richmond– Julia Creek vanadium project.

These discussions assisted the parties in finalising the development agreement and establishing a framework for future cooperation across Australian vanadium battery, electrolyte localisation and mine-to-battery opportunities, culminating in the execution of the Agreement in June CY26.

“This agreement represents an important step forward in RVT’s long-term strategy to support development of an Australian vanadium battery and long-duration energy storage industry,” RVT executive chair, Brendon Grylls, said.

“Australia has a significant opportunity to participate in the emerging long-duration energy storage sector through the development of long-term capability across critical minerals, vanadium electrolyte processing and vanadium battery deployment.

“RKP is a globally recognised participant in the vanadium flow battery sector, and this collaboration provides a strong platform to evaluate future vanadium battery and downstream energy storage opportunities in Australia.”

RVT is steady at 13¢. Mkt cap $28.64M.

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