[Ferro-Alloys.com] Australian Vanadium Ltd (ASX:AVL) subsidiary VSUN Energy has signed a Memorandum of Understanding (MoU) with North Harbour Clean Energy (NHCE).
The non-exclusive MoU provides a framework for the two companies to assess market opportunities for vanadium redox flow battery (VRFB) installations, including potential for local manufacture or assembly of VRFBs and leasing facilities for vanadium electrolyte.
The MoU will allow VSUN Energy to help to facilitate the development of VRFBs into existing and future projects being developed by NCHE.
What does NHCE do?
A Sydney-based energy company, NHCE is involved in the identification, investigation, development and operation of renewable energy and energy storage projects and is particularly focused on long-duration energy storage, including pumped hydro and vanadium redox flow batteries (VRFBs) for stationary energy applications.
It is also involved in a joint collaboration with the University of New South Wales (UNSW) in the research and commercialisation of VRFBs.
Birthplace of VRFBs
NHCE was also part of a group of entities involved in a A$50 million investment from the Australian Government to create a new business and research partnership through the Trailblazer program.
UNSW and the University of Newcastle will lead the partnership, working with 27 industry partners including NHCE. UNSW is the birthplace of the VRFBs, where Emeritus Professor Maria Skyllas-Kazacos and her team still work on the product invented in the 1980s.
NHCE is also working with UNSW on the optimisation of VRFB cell design.
Positioning Australia as a key player
Long duration energy storage is in its infancy in the Australian market but has the potential to scale up quickly. The VRFB is a proven, commercialised product that can help complement the use of pumped hydro energy storage.
NHCE is interested in supply of vanadium electrolyte from AVL, product selection and project development support from VSUN Energy, and the ability to position Australia as a centre of excellence and a key player in the global VRFB supply chain.
Strong funding capability
“In working together on VRFB projects, VSUN Energy and NHCE will have the opportunity to support the development of large projects through access to a company with strong funding capability,” AVL managing director Vincent Algar said.
“Jointly the companies aim to grow the Australian vanadium energy storage sector and do justice to this Australian-invented technology.”
NHCE managing director Tony Schultz commented: “We look forward to partnering with VSUN Energy to help accelerate the implementation of VRFBs at industrial scale into the Australian energy market, allowing the rapid uptake of renewable energy to continue.
“This technology is perfectly suited to long-duration stationary energy storage, has a number of advantages over alternative technologies and Australia has a unique opportunity given its invention of the technology in the 1980s, coupled with our large share of known vanadium resources.”