AUSTRALIA — AVESS Energy, an Australian energy storage solutions company, has announced a significant partnership with vanadium developer Atlantic Vanadium Pty Ltd.
The two companies have signed a binding memorandum of understanding (MoU) to demonstrate AVESS‘s 50kW/250kWh vanadium flow battery (VFB) prototype at Atlantic’s Windimurra Vanadium Project in Western Australia.
The demonstration will take place at the Windimurra Vanadium Project, located 670 kilometres north of Perth and 80 kilometres from Mount Magnet.
AVESS plans to integrate its VFB prototype and solar PV into an existing disconnected microgrid, powering non-essential loads at the mine’s campsite.
This collaboration provides a framework for both parties to negotiate definitive agreements for the supply of AVESS’s 50kW/250kWh VFB to the project.
The partnership represents a transformational opportunity for AVESS to validate its VFB technology with a proven vanadium developer.
It is expected to strengthen AVESS’s position in the Australian mining sector and expand its VFB market share.
Young Yu, Managing Director of AVESS Energy, commented on the significance of the agreement: “We are grateful for this opportunity to showcase our VFB, and we look forward to growing our partnership with Atlantic.
“The deployment of our 50Kw/250Kwh VFB at Windimurra represents a significant milestone for AVESS Energy.
“This exciting partnership is another step towards the development of the local vanadium supply chain.”
The global vanadium flow battery market, valued at US$298.11 million in 2022, is projected to reach US$1,214.97 million by 2030, with an expected compound annual growth rate (CAGR) of 19.5 per cent from 2023 to 2030.
Both companies will now work towards obtaining regulatory approvals and finalising definitive agreements. Further details will be provided as the partnership progresses.
This collaboration marks a significant step forward in the development of vanadium flow battery technology and its application in the mining sector, potentially paving the way for more sustainable energy solutions in remote locations.
