Australian Vanadium (ASX:AVL) through its wholly-owned subsidiary, VSUN Energy, is considering developing a residential vanadium redox flow battery (VRB) in Australia.
VSUN Energy has received over 80 unsolicited requests for domestic storage devices, indicating a strong demand for residential energy storage.
The company is currently finalizing initial market reviews and partner discussions and will then undertake a feasibility study into developing a residential VRB product.
Vincent Algar, managing director, commented: “Vanadium flow technology has the ability to transform our use of rooftop generated solar energy.
“With its high capacity, high cycle life, and safe outdoor deployable technology, residential VRBs can deliver what home users actually want from an energy storage device.
“Homeowners are looking for a battery that offers enough hours of storage to safely carry them through their overnight power requirements. We want to be part of that delivery through VSUN Energy.”
Vanadium redox flow battery
The vanadium redox flow battery (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.
VRBs provide very high cycle performance over an operating lifespan of over 20 years, with minimal degradation in performance during that time period.
VRBs are also considered to be very safe, non-flammable devices that are attractive features for residential applications.
It is these characteristics that make it a desirable option for the residential market.
Opportunity in Australia
VSUN Energy believes that the existence of a residential VRB product in developing markets, particularly Australia with its high levels of residential rooftop generated solar energy, will have a consequential impact on the sales of larger VRB systems, as people become more comfortable and familiar with the robustness of the VRB technology.
Small scale VRBs are also ideally suited for small scale standalone applications such as powering remote telecommunications facilities and irrigation pumping facilities.
Manufacturing locations within Australia are being considered, which would enable VSUN Energy to increase local employment and build Australian expertise in this growing technology.
Local manufacturing will also reduce the cost of transportation and therefore the cost of batteries to Australian customers.
AVL is advancing the development of its 100%-owned Gabanintha Vanadium project measuring 91.4 million tonnes at 0.82% vanadium.
The company also aims to develop a local production capacity for high-purity vanadium electrolyte, which forms a key component of vanadium redox flow batteries.
AVL is actively marketing vanadium redox flow batteries in Australia through a distribution agreement with world-leading flow battery manufacturer, GILDEMEISTER.
The first vanadium redox flow battery storage system has been sold and installed at a native tree nursery in Busselton, Western Australia.