Multicom Resources Limited says its vanadium has been verified for use by New York-based StorEn Technologies (StorEn) proprietary Vanadium Flow Batteries.
Multicom’s vanadium pentoxide has been produced in the feasibility study at its proposed St Elmo Project near Julia Creek.
St Elmo Project is slated for production in 2021 and verification of the vanadium is critical to the progression of the partnership between Multicom and StorEn.
StorEn will now prepare and ship the first of three VFBs to Multicom scheduled for arrival in Australia in April 2019.
Multicom Resources Executive Director Nathan Cammerman said StorEn batteries for residential applications would be significantly cheaper, longer lasting, safer and more environmental friendly than lithium based batteries ,
“The Australian market is well suited for the deployment of StorEn’s low cost, long life vanadium battery technology, supported by a large number of households utilising solar power and strong bipartisan government support for the battery storage industry,” Mr Cammerman said,
Multicom and StorEn partnered in November 2017 to manufacture, sell and distribute VFBs for residential, telecommunications and industrial applications.
They have begun conceptual studies for a new battery manufacturing facility in North Queensland and progressed feasibility and development studies at St Elmo.
Multicom Resources has lodged a Mining Lease for the project which would produce 10,000 tonnes each year of Vanadium pentoxide.
The project will create 250 construction jobs and 150 jobs once fully operational.
Multicom is targetting the first production in 2021 and is working with EPIC Environmental on the approvals process including the Environmental Impact Statement.
Global vanadium demand is increasing, as it makes steel both lighter weight and higher strength as well as being an important component of renewable energy in vanadium redox flow batteries.