11/11/2021 - 14:07

Vanadium play surges on IGO test-run

11/11/2021 - 14:07

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Shares in Australian Vanadium have jumped 17 per cent on the news its battery storage technology will be trialled by IGO.

Vanadium play surges on IGO test-run
Australian Vanadium managing director Vincent Algar. Photo: Attila Csaszar

Shares in Australian Vanadium have jumped 17 per cent on the news its battery storage technology will be trialled by IGO.

The ASX-lister announced today it had signed an agreement via its wholly-owned subsidiary VSUN to test a standalone power system at IGO’s Nova nickel operation, situated 160 kilometres northeast of Norseman.

The system is based on vanadium redox flow battery energy storage technology and will be tested as a means to store renewable energy to power a bore pump at IGO’s nickel, copper and cobalt operations.

Australian Vanadium says the system will be based around a 300 kilowatt-hour vanadium redox flow battery from Spanish manufacturer E22 and is targeting 85 to 90 per cent renewable penetration during the trial.

Periods of long cloud cover will be supported by a diesel genset.

Australian Vanadium has provided the system to IGO at no cost but the company will have the option to purchase or rent the system at the end of a 12 month trial.

“Working with IGO on this project will accelerate the objectives of the companies and broader mining industry towards carbon neutrality,” Australian Vanadium managing director Vincent Algar said.

“The installation of an SPS based on vanadium technology for pumping applications enables diesel to be almost entirely eliminated, helping reduce overall carbon emissions and providing reliable green power.”

VSUN is said to be in discussions with other mining companies and hopes to share findings from the IGO project with potential customers.

AVL owns a namesake project in Meekatharra, which was awarded major project status by the federal government in 2019 and state lead agency status by the WA government in 2020 for its potential as a battery and critical metal project.

Australian Vanadium shares are up 17.39 per cent to trade at 2.7 cents.

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