Vecco Group is pleased to announce that the board of Vecco has made the final investment decision and board approval to construct and operate the first vanadium battery electrolyte manufacturing plant in Australia.
The project is being delivered in partnership with Shanghai Electric, one of the largest electrical equipment manufacturing companies in China and one of the largest vanadium flow battery manufacturers in the world. As part of their support for the electrolyte facility and new vanadium battery projects in Australia, Shanghai Electric’s holding subsidiary Shanghai Electric Energy Storage company has signed an MOU for an initial 10MWh electrolyte offtake.
The battery facility, located in South-East Queensland, will initially produce 30MWh per annum before scaling up to approximately to 300MWh.
Thomas Northcott, Managing Director of Vecco Group said, “this is a significant step forward for Vecco in securing an integrated supply chain from our Debella Vanadium + HPA Project through to battery production.”
“We are excited to be capturing the first mover advantage in Australia and south east Asia for what is a rapidly growing market for large scale renewable energy storage.”
“Demand is currently strong and there is significant future demand supplying large long duration vanadium batteries to support green hydrogen projects around Australia.”
Vanadium flow batteries last for 25 years, have no capacity degradation and have a low environmental footprint as the electrolyte is nearly 100% recyclable.
This project will help make Australia a leader in green energy manufacturing capability.
The industry has progressed in 2021 with significant announcements from mining billionaire Robert Friedland’s company VRB Energy which in March announced a 500MWh vanadium flow battery and Gigafactory in China and Sir Mick Davis, ex-CEO Xstrata invested in vanadium company Ferro-Alloy Resources.