Companies join forces for new Qld battery venture

Richmond Vanadium Technology is joining forces with leading battery-maker RKP and solar energy player Trinasolar to establish a new vanadium redox flow battery manufacturing venture in Queensland. It would start with ore from RVT's vanadium project in North-West Queensland, and Townsville has been earmarked as the likely site for the battery facility. The potential prize is a piece of a long-duration energy storage market tipped to grow to $US4 trillion in value by 2040 due to the global push to decarbonise. The companies have executed a collaboration agreement to work together on a raft of elements to establish a complete localised renewable energy and long duration energy storage solution in Australia. The agreement is non-binding but provides a mechanism for discussions between the parties, according to RVT. Elements include the development of RVT’s Richmond – Julia Creek vanadium project, along with a potential renewable energy and vanadium battery storage power solution for mining and ore processing there. The parties aim to advance work on an innovative processing pathway from vanadium concentrate directly to vanadium electrolyte that could deliver significant cost benefits. They will also focus on establishing a localised grid-scale (+1GWh) VRFB manufacturing and assembly facility in Queensland, using RKP’s electrolyte and cell stack technology. RVT is undertaking a bankable feasibility study towards mining its 1.8Bt vanadium resource, which lies about 400km east of Mount Isa between the towns of Julia Creek and Richmond. Related: New timeline for vanadium mine study RVT managing director Jon Price said the company was aiming for production from mining in 2027 at 12,700tpa of product. "The battery facility is likely to occur within the same timeframe," he said. While the collaborating parties are looking at a number of sites for manufacturing, Mr Price said the current thinking was that downstream processing would occur on site in Richmond, with the battery facility to be located in Townsville Trinasolar country manager ZiXiang (John) Zhong, RVT managing director Jon Price, RKP senior vice president Philip Krause and RVT chair Brendon Grylls mark the collaboration agreement. RVT, RKP and Trinasolar said their aim was to provide 'a complete renewable energy and battery storage cooperative' in Australia for domestic and overseas markets. “The collaboration with RVT and Trina showcases our collective commitment to advancing renewable energy solutions," RKP senior vice president Philip Krause said. "By integrating the strengths of both parties with our leading VRFB technology, we are ready todemonstrate the unparalleled benefits of VRFBs in safety, longevity, and recyclability." You may also like: https://industryqld.com.au/deal-charges-up-norths-vanadium-battery-future

Companies join forces for new Qld battery venture

Industry Queensland

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