Western Australia-based Technology Metals Australia is pursuing a dual listing on the Frankfurt Stock Exchange to broaden its European investor base.
The ASX-listed company, which is conducting drilling at the Gabanintha vanadium project, near Meekatharra in Western Australia, said on Monday that there was a high level of awareness in Germany about the use of vanadium redox batteries (VRB) in the renewable energy storage sector.
Technology Metals believes the emerging energy storage sector will be a significant market for vanadium.
“VRBs are a rechargeable flow battery that uses vanadium in different oxidation states to store energy, using the unique ability of vanadium to exist in solution in four different oxidation states. VRBs provide an efficient storage and resupply solution for renewable energy – being able to time-shift large amounts of previously generated energy for later use – ideally suited to microgrid- to large-scale energy storage solutions.”
Technology Metals’ primary exploration focus is the Gabanintha project, which it is aiming to develop to potentially supply high-quality vanadium products to the steel market and the emerging VRB market. The project is still in the exploration phase, with a maiden inferred resource expected in mid-June.