Australian Vanadium (ASX: AVL) has signed a non-binding MOU with Spanish energy storage specialist E22 for the supply of vanadium products for its vanadium redox flow battery (VRFB) solutions, plus local sales rights for VRFB units.
The deal includes opportunities for vanadium pentoxide (V2O5) offtake in Spain to support global sales along with vanadium electrolyte manufacture and supply for Australian VRFB sales.
Also included is a sales representation agreement for AVL subsidiary VSUN Energy to supply VRFB units in Australia, supporting the company’s vertical integration strategy from mine site and processing through to energy storage installation.
Speaking on the partnership, Australian Vanadium Managing Director Vincent Algar said: “What attracted us to E22 in particular was the mid- size VRFB that they are able to supply and the credibility offered through their parent company. Small to medium sized commercial applications, in addition to mining and agricultural industries, require a system that is smaller than the majority of the VRFB manufacturers currently supply. The requirement is for a robust and reliable system that can be increased in size and redeployed as needed. We are delighted to be working with the E22 team and have found their engineers to be very responsive and that there is a strong desire to develop this market in Australia.”
“We are delighted to be working with the E22 team and have found their engineers to be very responsive and that there is a strong desire to develop this market in Australia”
E22, based in Valencia Spain, is a specialist manufacturer of VRFB units, along with providing engineering procurement and construction services for VRFBs, lithium-ion batteries, power control systems and energy management systems.
Established in 2014, the company is known for its strong engineering capabilities with a stated aim of providing power storage solutions that are robust, cost-effective, long lasting, scalable and easy to build.
E22’s smaller-scale VCUBE50 unit has been singled-out as a key product for the development of VSUN Energy’s standalone power system (SPS), which forms part of the project which received government funding via the Modern Manufacturing Initiative in July 2021.
Importantly, the MMI grant includes funding towards the construction of a 33MWh annual capacity vanadium electrolyte processing facility in Western Australia.
The VCUBE50, housed in a 20 foot container, provides four hours of power, with a lifetime of 20 years and no restrictions on cycling.
Images: Australian Vanadium Limited