Just a reminder relative to former NHCE director of development, Steve Banning, formally joining AVL as of last week on some potential networking connections that may benefit AVL:
NHCE has an agreement to manufacture VFBs with Enerox CellCube as of just over 18 months ago [25/11/2022 report]
Enerox CellCube has had a five year agreement with AVL’s US affiliate - US Vanadium (subject of this HC thread) since February 2022 to buy up to 3,580,000 litres of vanadium electrolyte a year until February 25, 2027.
(NB back then USV production capacity was only 4,000,000 litres per year)
see : “ US Vanadium will produce the VRFB electrolyte at its Hot Springs, Arkansas, production facility. The supply agreement is thought to be the largest executed outside of China.. https://pv-magazine-usa.com/2022/02...rity-vanadium-redox-flow-battery-electrolyte/
As we know USV is largely owned by Techmet, a preferred investment agency for the US government, and Enerox was once largely owned by failing SAfrican company, Bushveld which since last year has flagged the sale of its’ remaining holdings in that company.
What does it all mean … if anything?
NHCE has been fairly dormant as far as publicity goes since a story in the SMH nine months back noting:
… “Already the Sydney firm has gained the backing of some of the biggest names of the corporate world. Three senior advisors and shareholders are former Origin Energy chief executive Grant King, former Rio Tinto CEO and Qantas chair Leigh Clifford, and former NSW independent planning commissioner John Hann.
.. “Sitting on its board of directors is Robert Hill – a former federal defence and environment minister – and Allison Warburton, a former Australian Energy Market Commissioner and partner at Minter Ellison’s energy practice.
Qantas Super is North Harbour Clean Energy’s major institutional shareholder.
The AFR also took a look at NHCE in November last year…
…… “Grant King, the chairman of the Commonwealth’s Climate Change Authority and HSBC’s Australian operations, has joined the top ranks of a private Sydney clean energy company run by the former Australian head of US private equity firm KKR.
North Harbour Clean Energy appointed Mr King to the independent chairman post following his early investments and advice to the company since its inception in 2019, the company said…” 20/11/2023
https://www.afr. com/companies/energy/grant-king-tapped-for-clean-energy-play-20231120-p5ele4
Again, what does it mean… just random coincidence?
…And what’s going on over there at NHCE?
Why did Steve Banning leave in March, a month after the AVL/TMT merger went through?
Why has he joined AVL?
Is he still mates with all those NHCE movers and shakers ?
Why has nothing so far come of the NHCE/Enerox battery building partnership?
…And if Enerox has booked most of USV’s electrolyte supplies until 2027 where is it sending this to, or is the agreement on hold like the MOU between USV and AVL?
And what’s Cell Cube actually doing these days?
Anyone know?
cheers
(20min delay)