Australian Vanadium (ASX:AVL) pegs Wangara for world class production
March 15, 2023Australian Vanadium has secured a site in Wangara to build one of the planet’s most state-of-the-art electrolyte manufacturing facilities.
With the detailed design of the U.S. Vanadium technology completed, AVL has expedited long lead time items in preparation for early site works before the construction 33MWh vanadium redox flow battery (VRFB) facility commences this year.
The ambitious project, attracting $3.69 million from the Australian Government, positions AVL as an early mover in supplying high-purity vanadium electrolytes to the growing domestic long-duration energy storage market in which VRFBs will play a key role.
The vanadium market has grown at around 6% CAGR per year over the last five years. Still, increasing demand for vanadium in steel production combined with the growing adoption of vanadium redox flow batteries (VRFBs) in renewable energy storage applications is expected to fuel further competition.
“This is an important step in our journey to become a world-class, vertically integrated “pit to battery” vanadium producer,” AVL CEO Graham Arvidson said.
“By leveraging USV’s proven technology, we have confidence in successfully realising our goal of producing the highest quality electrolyte available to the Australian and New Zealand VRFB markets.
$0.014“Through our wholly-owned subsidiary VSUN Energy, we are positioned to play an integral role in an exciting pipeline of Australian decarbonisation-focused projects.
“Achieving near-term production of high-quality electrolytes positions AVL as a supplier of choice for these projects.”
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