Conceptual render of a proposed V-NOMAD™ technology platform
Australian Vanadium Limited (AVL), the parent company of Smart Energy Council member VSUN Energy, has signed a funding agreement with the Western Australian Government for up to $15 million to support a proposed vanadium electrolyte manufacturing facility.
The funding will support the design, construction and commissioning of the facility, which is intended to supply electrolyte onsite for future vanadium flow battery projects, including long-duration energy storage projects pursued by VSUN Energy.
Under the agreement, the WA Government will contribute up to 50% of eligible project costs, capped at $15 million, with AVL responsible for funding the balance. Payments are subject to the agreement’s conditions, including applicable project milestones.
The funding has been awarded through the Investment Attraction Fund’s New Energies Industries Funding Stream Round 2.
AVL Chief Executive Officer Graham Arvidson said the grant would support the company’s plans to connect Western Australian vanadium production, electrolyte manufacturing and utility-scale battery deployment, including opportunities pursued by VSUN Energy.
VSUN Energy is AVL’s wholly owned renewable energy and energy storage subsidiary, focused on developing the Australian market for vanadium flow batteries.
Australian innovation and manufacturing
The vanadium flow battery was invented in Australia by Professor Maria Skyllas-Kazacos and her team at UNSW.
For The Smart Energy Council, this Australian invention illustrates what a Future Made in Australia can and should look like: Australian innovation and technologies helping to secure sovereign supply chains and build our manufacturing base.
We congratulate our member VSUN Energy and its parent company AVL on this funding milestone, and wish the VSUN team well on their journey.
ENDS
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