Here’s the segment;
Again a partial transcript (from a about three minutes in) in courtesy of Grok,,
..Here’s our story;..
../we are focused, in terms of our integrated chain, on Australia and I think a lot of our commodity producers we focus on international jurisdictions simply because of addressable market size.
Actually in Australia our addressable market is more than enough, and we are pursuing projects - not just the Kalgoorlie battery opportunity in Western Australia - but projects on the East coast because the nature of the electrical network there is they’re already pricing in 8 hour mechanisms.
It’s really interesting, and the batteries being proposed there are already bigger than what’s slated in Western Australia
-So here’s project Lumina, and it’s probably not common the typical that someone developing a tier one asset in Western Australia is also developing a really elegant strong IP point which is an off-the-shelf scalable turnkey Australian solution for what they’re already doing in China,
- that is full design, full costing, full detailed ready that we can deploy hundreds of megawatt hour capacity
This is a 500 megawatt hour battery Project Lumina.
By the middle of the year will have all of that work done.
And for us that’s first mover advantage, and for us that is also cost competitiveness advantage.
We believe we’re the only company in Australia probably the world who’s looked at how to really cost effectively and with certainty where a bank can go in the room deploy a large-scale vanadium flow battery We’re also established electrolyte producers in Western Australia
Last year we built, designed, commissioned and now operating an electrolyte facility, and a big milestone for us is we’ve successfully deployed that in a battery with Horizon Power a leading utility in Western Australia
So we have the midstream we have Project Lumina nearing completion, and we’ve committed to make FID ready our downstream uh project Lumina capability readily deployable into opportunities like Kalgoorlie which has 150 million of state funding attached to it .
Just a pretty picture but this is way more important than we anticipated and is going to become more important
The ability to augment and move with the energy market as it changes its pricing mechanisms is critical Yesterday I was in Seoul speaking on a panel with a bunch of very large lithium ion developers, and they emphatically said they cannot do this; They cannot augment, and this is brilliant because if you want to deploy capital at 4 hours on year 1 and put a six-hour battery in at year five very simple very low cost very elegant You just add a few tanks and you fill it with electrolyte
- So it’s a little bit technical, but this is actually really critical to why these will be adopted not just for their cost effectiveness but for their ability to get more revenue as a battery asset
Here’s what a battery development would look like
So again the upstream has its own timelines and FID basis but do think about this if we land one of these projects, and how we would finance, it ultimately it’s about a two-year process to revenue
So we’re trying to help our investors understand we are very close to that starting point the starting gate
We’re catalyst rich around how we partner and achieve these large scale projects and ultimately what then it follows is critical pathways; grid connection process, and all of our competitors in the energy storage development space would have a very similar timeline where we’re working through approvals
Again if we were to build the Kalgoorlie battery it’s important to note that’s about 2% of the global vanadium supply
And if we go out and procure that oxide right now it actually tightens even an oversupplied market and will actually change the price
- That’s one single battery outside of China
So in lock step what we’re trying to do as a company is make sure we’re ready with a really good asset in a really good jurisdiction which is a large-scale high-grade low operating cost vanadium oxide production capability
That’s in the Midwest.
Last year we completed a merger which makes one of the largest highest grade vanadium developments in the world.
And I think we are the most advanced in term of permitting of new primary assets in an ideal jurisdiction.
So keep an eye on that We are moving forward with the optimized feasibility study which is to combine the best project from the merged companies and there are catalysts there that people may not pay attention to because of the lower vanadium price right now, but I hope it’s clear today that if you believe in the long duration storage thematic and you understand how competitive and how compelling vanadium flow batteries are, and that they’re proven, the vanadium price will follow and us being ready is super important.
uh on the on the other milestones do keep an eye what are the catalysts coming up on the on the upstream tier one asset basis that is we are at the pointy end of approvals, so keep an eye on really the two assets that we’re developing our mine south of Meekatharra is crystalizing our final EPA approval we have received our major EPA approval in January, and we’re now part of the Green Energy Major Projects part of the WA in terms of government support.
Also note; I think it’s telling the government changed the royalty with as an election commitment that if we go to electrolyte the royalty is now 0% and vanadium oxide’s 2 and a 5%.
That is, I think, very telling in terms of the State level support for this major project.
.. We’re also permitting a processing plant uh east of Geraldton which is mostly permit and near the finishing line,so keep an eye out for big catalyst there.
In summary; uh why long duration storage? It’s inevitable. It’s a huge addressable market in Australia alone Why vanadium? well flow batteries are an absolutely proven tech They’re being deployed at eyewatering scale in China
And even if China did it alone, let alone what we’re going to do in Australia, that is going to change very soon in terms of that steel thematic being superseded by a battery thematic
So do keep an eye on a battery thematic, do keep an eye on the commodity price there.
Why Australian vanadium? We have competitive advantage at every point in our value chain right now
We are first movers We have a tier one asset ready to go in the next 12 to 18 months, We have the midstream established proven capability with electrolyte deployed into operating batteries and in the downstream by Q3 we intend to be FID ready on a large-scale utility scale project
Why now? The State government of Western Australia wants this to happen
We can bring that solution to them
Keep an eye on us it’s happening now
Thank you
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