Australian Vanadium (ASX: AVL) CEO Graham Arvidson said the demand for vanadium batteries is climbing exponentially around the world, especially in China, and that is something we should all pay close attention to.
The life and life span of lithium batteries are the two major major bugbears for storing renewable energy. Mr Ardvinson said vanadium flow batteries are the solution, and that AVL would mine and process vanadium from its Australian Vanadium project near Meekatharra in WA, and manufacture batteries in Perth through its subsidiary VSUN.
“I want to convince you of three things. First, the ridiculous need for long duration storage around the world. Secondly, vanadium flow battery’s are a proven technology. Finally, that we have significant competitive advantage across the entire supply chain,” he said.
The Australian Vanadium Project includes a mine and a crushing, milling and beneficiation plant (or concentrator) and a downstream vanadium processing plant. AVL has built, owns and operates a manufacturing facility in Perth, Western Australia, capable of commercial vanadium electrolyte production.
The company announced today that it is one step closer to becoming a fully integrated vanadium flow battery provider, with the Greater Geraldton Council throwing its support behind AVL’s planned vanadium processing facility at Tenindewa near Geraldton in WA.
The focus now is to complete an Optimised Feasibility Study (OFS) to revise and improve the project’s economics, finalise remaining approvals and secure offtake and funding.
Vanadium batteries are already in use in Australia, Japan and China.
“Vanadium batteries are a proven technology and have been for more than 20 years,” Mr Arvidson said.
“Demand for vanadium batteries are climbing exponentially in China, and this is changing the world as we speak.”
Touch base with the Purple team. Peter Klinger and Gerard McArtney are in Kalgoorlie-Boulder and will be at Diggers & Dealers for the entirety of the conference.
