Disclaimer No investment advice. Australian Vanadium wraps government-funded work and receives final payment for vanadium electrolyte manufacturing facility
Last updated: 11:20 21 May 2024 AEST, First published: 10:48 21 May 2024 AEST
Australian Vanadium Ltd (ASX:AVL, OTCQB:ATVVF) has completed the work for which it received a grant under the Australian Government's Modern Manufacturing Initiative, awarded in 2021.
The company has now received the final payment of A$922,049 from the A$3.69 million grant under the manufacturing translation (MMI-T) stream of the Resources Technology and Critical Minerals Processing National Manufacturing Priority Roadmap. First high-purity vanadium electrolyte
The grant supported the design and construction of AVL's vanadium electrolyte manufacturing facility, which has successfully produced its first high-purity vanadium electrolyte.
Vanadium electrolyte is a key component of vanadium flow batteries (VFBs), which are well-suited to large-scale energy storage applications.
These batteries offer high energy storage capacity and a long cycle life, with minimal degradation over their long lifespan.
The grant provided AVL with matched funding for initiatives including:
design and construction of AVL’s commercial vanadium electrolyte manufacturing facility to support the rollout of vanadium flow batteries in Australia;
development of a high-purity processing flowsheet for a circuit to produce chemical and master-alloy grade vanadium pentoxide as part of the Australian Vanadium Project; and
design and manufacture of a prototype residential vanadium flow battery and stand-alone power system for the Australian energy market.
In addition to this grant, AVL received a A$49 million grant under the Modern Manufacturing Initiative – manufacturing collaboration (MMI-C) stream, awarded in 2022 and still ongoing.
Pivotal time for renewables
CEO Graham Arvidson said: “AVL is extremely grateful to have been supported by the Australian Government to build and bring our vanadium electrolyte manufacturing facility into operation, particularly at this pivotal time of transforming Australia into a renewable energy superpower.
“Having this production facility in Western Australia forms part of the company’s ‘pit to battery’ strategy, which also comprises mining and processing of vanadium in the state and further downstream activities in the vanadium flow battery market.
“In addition, we have been able to produce ultra-high purity vanadium products and begin development of a residential vanadium flow battery prototype and standalone power system.”
Opened by Minister
The electrolyte manufacturing facility was officially opened in January 2024 by Federal Resources Minister Madeleine King.
The grant also funded the design of an ultra-high purity processing circuit to produce chemical and master-alloy grade vanadium pentoxide as part of the Australian Vanadium Project.
Additionally, it supported the development of a prototype residential VFB and stand-alone power system for the Australian energy market.
AVL recently announced achieving ultra-high purity 99.9% V2O5 through test work with the Australian Nuclear Science and Technology Organisation (ANSTO).
The prototype residential VFB, designed with 5 kW of power and 15 kWh of energy capacity, offers flexibility, minimal degradation over 25 years and non-flammability.
Development continues with installation at a residential property expected soon for further testing by AVL’s VFB-focused subsidiary VSUN Energy.
AVL Price at posting:
1.6¢ Sentiment: None Disclosure: Held
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