Australian Vanadium signs MoU with GILDEMEISTER energy storage GmbH

THE BOURSE WHISPERER: Australian Vanadium (ASX: AVL) has signed a Memorandum Of Understanding (MoU) with GILDEMEISTER energy storage GmbH for the purpose of collaborating on future Vanadium Redox Flow Battery (VRFB) installations and electrolyte production in Australia.

GILDEMEISTER manufactures the CellCube vanadium flow energy storage system, of which it has installed more than 100 systems to lay claim of being the provider of the world’s most commercially advanced flow battery.

“The future of vanadium demand is strongly tied to the global need for large-scale energy storage,” Australian Vanadium chief executive Vincent Algar said in the company’s announcement to the Australian Securities Exchange.

“The enormous potential and suitability of the Australian energy market for storage systems like the CellCube, coupled with local vanadium supply, offer benefits for GILDEMEISTER, AVL and consumers alike.

“We look forward to actively working on aspects of the GILDEMEISTER MoU during 2016.”

Australian Vanadium said the MoU was a representation of the company’s continuing commitment to advancing vanadium flow battery technology and the wider uses of vanadium in energy storage.

AVL said working with GILDEMEISTER would become a key part of its vertical integration strategy, which involves the production of high-purity vanadium electrolyte – a core component of flow batteries.

The company indicated it will focus on bringing this development into the progression of its Gabanintha vanadium project in Western Australia.

AVL claims Gabanintha to currently be one of the highest-grade projects being advanced globally with Measured, Indicated and Inferred Resources of 91.4 million tonnes at 0.82 per cent vanadium oxide (V2O5).

It also contains a discrete high-grade zone of 56.8 million tonnes at one per cent V2O5 reported in compliance with the JORC Code 2012.

Email: info@australianvanadium.com.au

Website: www.australianvanadium.com.au