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 Ltd signs dealership agreement with Gildemeister
Australian Vanadium Ltd (ASX:AVL) has signed a dealership agreement with Gildemeister Energy Storage to sell the CellCube range of Vanadium Redox Flow Batteries (VRFB) in Australia.
The agreement is a key plank of AVL's vertical integration strategy through the agreement with Gildemeister.
Gildemeister is the developer of the CellCube; the world's most commercially advanced Vanadium Flow Battery based on 15 years of development with over 100 sold units worldwide.
The agreement follows the signing of a Memorandum of Understanding (MOU) with Gildemeister in February 2016.
The CellCube vanadium flow energy storage system has more than 15 years of research and development into its battery systems which have been commercially available for seven years.
The dealership agreement allows Australian Vanadium to ramp-up its activity in commercial target markets and utility related storage opportunities.
Gildemeister considers the Australian market one of large potential and suitability for storage systems like the CellCube.
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