Australian Vanadium Ltd (ASX:AVL), formally known as Yellow Rock Resources, is focussed on vanadium at its flagship Gabanintha project in Western Australia.
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Australian Vanadium in landmark agreement to collaborate with GmbH
Australian Vanadium (ASX:AVL) has entered a memorandum of understanding with Gildemeister Energy Storage to collaborate on future Vanadium Redox Flow Battery (VRFB) installations and electrolyte production in Australia.
Gildemeister manufactures the CellCube vanadium flow energy storage system and the company has put more than 15 years of research and development into its battery systems which have been commercially available for seven years.
Gildemeister has installed more than 100 systems - establishing itself as the provider of the world's most commercially advanced flow battery.
Australian Vanadium chief executive Vincent Algar said the landmark agreement was a key step forward for the company.
"The future of vanadium demand is strongly tied to the global need for large-scale energy storage.
"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, Australian Vanadium and consumers alike.
"We look forward to actively working on aspects of the Gildemeister memorandum of understanding during 2016."
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