- Technology Metals (TMT) begins a feasibility study to produce vanadium electrolyte from its Murchison Technology Metals project in WA
- The study will be supported by Japanese electrolyte supplier LE System under an extended agreement whereby TMT will utilise LE System’s expertise
- To accelerate production, TMT established a subsidiary to work closely with LE System to progress the study and commercialise a vanadium electrolyte business in Australia
- TMT shares are down 1.27 per cent to trade at 39 cents at 12:54 pm AEST
Technology Metals (TMT) has begun a feasibility study to produce vanadium electrolyte to supply to the Australian vanadium redox flow battery (VRFB) market.
The company will produce vanadium electrolyte using low-cost, high-purity vanadium produced from its Murchison Technology Metals project (MTMP) in Western Australia.
TMT said the study would receive technical support from TMT’s existing partner, LE System, through an extended memorandum of understanding agreement. Under the deal, Technology Metals will utilise LE System’s knowledge and experience in producing vanadium electrolyte.
The companies are also advancing discussions for the licencing of electrolyte production technology and the supply of vanadium from the MTMP to LE System’s electrolyte plant in Japan.
“As we move closer to a development decision on the MTMP vanadium project, we are increasing our focus on these downstream project enhancement initiatives,” TMT Managing Director Ian Prentice said.
“With Technology Metals on track to be the world’s next pure low-cost vanadium producer, the company is well placed to become the preferred supplier of vanadium for these batteries.”
To accelerate production, Technology Metals has also established a subsidiary called vLYTE to assist with production, marketing and sales. vLYTE will also work closely with LE System to progress the feasibility study and commercialise a vanadium electrolyte business in Australia.
Technology Metals is continuing to work with both state and federal government agencies in Australia to advance production which will support the roll-out of VRFBs to improve renewable energy efficiency.
TMT shares were down 1.27 per cent to trade at 39 cents at 12:54 pm AEST.