Technology Metals Australia Conducts Vanadium Electrolyte Study to Supply Australian Batteries
THE BOURSE WHISPERER: Technology Metals Australia (ASX: TMT) informed the market of its intention to commence a feasibility study for production of vanadium electrolyte in Australia.
Technology Metals explained the proposed plant would utilise the high purity vanadium pentoxide to be extracted from the company’s Murchison Technology Metals project (MTMP) in Western Australia to produce vanadium electrolyte to support the growing market for longer duration energy storage batteries in Australia (vanadium redox flow batteries or VRFB).
“As we move closer to a development decision on the MTMP vanadium project, we are increasing our focus on these downstream project enhancement initiatives,” Technology Metals managing director Ian Prentice said in the company’s ASX announcement.
“With an increased need for optimisation of renewable energy generation, there is a growing market for longer duration battery storage technologies such as vanadium redox flow batteries.
“With Technology Metals on track to be the world’s next pure low cost vanadium producer, the Company is well placed to become the preferred supplier of vanadium for these batteries.”
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Email: investos@tmtlimited.com.au