THE renewable battery energy market continues to make significant moves in WA as the quality and applications of battery storage becomes ever more sophisticated and economically advantageous.
Australian-owned Australian Vanadium Ltd (AVL) signed a letter of intent with Hebei Yanshan Vanadium and Titanium Industry Technology Research Co Ltd, a subsidiary of HBIS Group Chengsteel, to negotiate technical services and agree on a purchase agreement for AVL’s vanadium products.
Managing director Vincent Algar and chief operating officer Todd Richardson will travel to Chengde, Hebei this month for further discussions.
HBIS Group is one of the world’s largest steelmakers and the world’s third largest vanadium producer.
Currently 92pc of vanadium consumption is for strengthening steel.
The addition of as little as 0.1pc vanadium increases steel strength by up to 100pc, whilst reducing weight up to 30pc.
Demand for reinforced steel continues to increase, added by new Chinese government standards for increased vanadium in construction.
Vanadium is also attractive for its place in the renewable energy sector.
AVL has developed a local production capability for high-purity vanadium electrolyte, which forms a key component of vanadium redox flow batteries (VRFB) currently being marketed in Australia via AVL subsidiary VSUN Energy Pty Ltd.
The vanadium redox flow battery (VRFB) is a major advancement in this space, ensuring uninterrupted power supply independent of weather, temperature fluctuations, daylight hours or unstable grids.
Capturing and storing renewable energy for later use, particularly in remote areas, and reducing the reliance on diesel, is an attractive proposition for all stakeholders and brings both economic and health benefits.
HBIS is a valuable partner for AVL. As a major steel and vanadium producer, HBIS provided 240,000t of vanadium bearing anti-seismic rebars and fine steel plates for the Hong Kong-Zhuhai-Macao Bridge.
