Australian Vanadium Unit Chooses Sumitomo Electric as Exclusive Vanadium Flow Battery Technology Provider for Western Australia VBESS Project, Shares Fall 3%

MT Newswires Live

02/16

Australian Vanadium (ASX:AVL) said its wholly-owned unit, VSUN Energy, entered into a pre-bid agreement with Sumitomo Electric Industries for Sumitomo Electric to be its exclusive vanadium flow battery technology provider through the expression-of-interest and pre-bid processes for the Kalgoorlie vanadium battery energy storage system (VBESS) project in Western Australia, according to a Monday Australian bourse filing.

The project seeks to deliver a 500 megawatt-hour vanadium flow battery, supported by the Western Australian State Government's commitment to invest up to AU$150 million.

Australian Vanadium and VSUN Energy recently submitted a stage one expression of interest for the project.

Its shares fell 3% in recent trading on Monday.

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