Australian Vanadium higher on signing MOU for vanadium offtake

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Managing director Vincent Algar said: “Through AVL’s subsidiary VSUN Energy we have developed a strong relationship with CellCube and have experience with the excellent quality of their product.

“We are delighted to be able to broaden this relationship further, to include future supply of vanadium and vanadium electrolyte from the Australian Vanadium Project as the project moves towards production.

“With Enerox developing ever-larger VRFB projects around the world and in Australia, the secure supply of high-purity vanadium pentoxide will be crucial for further growth of this reliable energy storage technology as it builds its market presence.”

Additionally, AVL’s 100%-owned focused VRFB-subsidiary VSUN Energy has signed a value-added reseller (VAR) agreement with Enerox for the supply and installation of CellCube products and services in Australia.

The agreement is for a term of two years, with a two-month notice period on either side for termination.

“Very happy” to grow Australian business

Enerox and CellCube Chief executive officer Alexander Schönfeldt said: “I am very happy we are growing our Australian business with VSUN Energy as our local partner.

“Having three systems already in the region and taking the COVID situation into account, it is for us and our clients very important to have a trusted partner in Australia who is trained on our systems and who we have known for many years.

“For the increasing demand of long-duration energy storage specifically in hot and remote areas, the Vanadium Redox-Flow technology in combination with renewables is the best solution.

“Having a local supply chain and value creation will be a major benefit for the people and business in Australia.”