The agreement could help AVL sell more vanadium redox flow batteries.
Australian Vanadium (ASX:AVL) has signed a memorandum of understanding with clean energy company EPC Technologies to look into mutually beneficial opportunities.
EPC provides select products and services to its clients focusing on clean energy optimization and monetization.
The skillset of EPC includes energy management services, engineering and consulting services, and power quality management solutions.
The agreement has been signed between EPC and AVL’s wholly-owned subsidiary, VSUN Energy, which offers solutions for energy storage using vanadium redox flow batteries (VRBs).
The VRB is a safe and stable energy storage device that offers the ability to store large amounts of energy for delivery over a period of many hours.
VSUN Energy will be able to draw on EPC’s skills to supplement its in-house knowledge, which will enhance the ability of the company to provide the best solution to its clients.
EPC’s focus from a technology perspective is to recommend solutions in the best interest of their customers regardless of technology, and are increasingly uncovering opportunities where a VRB represents the most effective solution.
EPC has the potential to act as a distribution arm for VSUN Energy by offering VRBs to its clients.
AVL recently also appointed a consultant to perform a strategic analysis of the residential storage market and to investigate VSUN Energy’s potential within it.