This article tells how Vanadium is critical material to the world.
Australian Vanadium (ASX: AVL)AVL is nearing development at its flagship Australian vanadium project in WA which has the potential to produce 11.2kt per annum of vanadium pentoxide over a 25+ year mine life. In May, the company and the Commonwealth executed a grant agreement under the Modern Manufacturing Initiative – Manufacturing Collaboration Stream for up to $49 million to help the company (and industry partners) create an Aussie vanadium battery industry. The Grant funds eligible activities to construct and commission a concentrator and high-purity vanadium processing facility capable of using green hydrogen as part of the extraction process for the project – a critical mineral extraction process that is a key precursor for vanadium electrolyte manufacturing. AVL is also working on the VRFB angle through its subsidiary VSUN Energy which is installing a battery system at the IGO (ASX: IGO) Nova nickel operation. It has also been working to develop a 5kW/15kWh residential version of the VRFB for people who are looking for an alternative to lithium-ion batteries.
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