Ann: AVL Signs MOU with Gildemeister energy storage GmbH, page-2

AVL Signs MOU with GILDEMEISTER energy storage GmbH for market development and sales of CellCubes in Australia

Highlights:
• GILDEMEISTER energy storage GmbH develops the CellCube, the world’s most commercially advanced Vanadium Flow Battery based on 15 years of development with over 100 sold units worldwide.
• AVL and GILDEMEISTER have signed an MOU to facilitate future co-operation in developing the Australian vanadium flow battery market.
• The MOU will facilitate collaboration on a number of key strategic initiatives in Australia including; o The completion of a Dealership Agreement for distribution of CellCube energy storage systems in Australia.
o Collaborating on and finalisation of sales leads prior to the completion of the Dealership Agreement.
o Joint marketing of vanadium flow battery technologies and CellCube products as the preferred solution to large-scale grid-energy storage across the energy consumer market.
o Securing long-term local vanadium electrolyte supply for the Australian market through the development of AVL’s high-grade **anintha Vanadium Project in Western Australia.