Advanced vanadium developer Technology Metals Australia Limited announced that together with its wholly owned subsidiary, vLYTE Pty Ltd (vLYTE), it has entered into a Memorandum of Understanding (MOU) with Delectrik Systems to develop the Murchison Technology Metals Project (MTMP) in Western Australia.
Under the agreement, Technology Metals is advancing the MTMP in WA to manufacture high-purity vanadium pentoxide (V2O5) and is studying downstream manufacturing of vanadium electrolytes in Australia through vLYTE.
The ASX-listed company’s goal, as supported by this MOU, is for the MTMP to be a stable, secure, principal producer of this key mineral in order to keep the global deployment of vanadium redox flow batteries (VRFBs) for long-term energy storage.
“This MOU supports TMT’s development plan for the MTMP and the secure supply of high-purity vanadium for long-duration VRFBs globally,” said Technology Metals Australia Managing Director Ian Prentice.
Recently, the Indian government announced a USD 4.3 billion (AUD 6.5 billion) investment to help the nation transition to a net-zero energy economy.
“This MOU with fast-growing Indian battery manufacturer Delectrik reinforces TMT’s path to becoming a preferred supplier of vanadium for these batteries,” Prentice noted.
According to the MOU, Delectrik’s VRFB rollout in Australia will be supported, highlighting the great potential for VRFB use in Australia across a variety of applications, including the replacement of diesel generation at distant mine sites and the storage of solar energy for EV charging stations, Prentice added.
Meanwhile, CEO of Delectrik Vishal Mittal pointed out that with the company’s recent battery deployments in India, the USA, Europe, the Middle East, and Australia, Delectrik is delighted to be a part of this adventure and believes that VRFBs will be essential in assisting the world’s transition to net zero.
“Australia is a key region for Delectrik both as a market for its flow batteries and availability of Vanadium resource and as such, the company has recently established a wholly owned subsidiary, Delectrik Systems Australia Pty Ltd,” noted Mittal.
He continued, “The partnership with TMT is very exciting as it provides Delectrik a secure supply of high-quality vanadium as we expand our business globally.”
Founded in 2016, Delectrik is a rapidly expanding VRFB manufacturer that generates its own vanadium electrolyte as well as design and produces VRFB systems ranging from kW to MW scale.
It has recently announced a distribution and manufacturing license with a Saudi Arabian energy systems company and will develop an MWh scale VRFB in Europe to support electric vehicle charging stations, which will be deployed in 2023.