The FBI CRC aims to support the development of hubs and precincts of globally competitive battery industries while ensuring a secure supply of battery metals to meet global demand in the transition to new energy systems.
VSUN Energy was established to provide AVL vertical integration opportunities in vanadium supply and battery installation.
AVL managing director Vincent Algar said: “It’s great to see the change in focus in Western Australia to not repeat the dig and ship mentality of the iron ore boom.
“We have the opportunity to add real value and develop strong expertise in Australia and, in particular, Western Australia.
“The FBI CRC could help enable industry participants to work together to build a battery industry that will benefit all Australians.”
READ: Vanadium critical for renewable energy storage, hears Technology and Low Emission Minerals Conference
AVL’s expertise in the extraction and processing of vanadium will assist the centre to leverage Australia’s vast mineral resources.
Having produced vanadium electrolyte in Australia, AVL’s pilot plant resource will be of great use to the FBI CRC should its application be successful.
The FBI CRC is being driven by Curtin University, with help from partners such as Tianqi Lithium, the Government of Western Australia, BHP, Pilbara Minerals Ltd (ASX:PLS) the University of Western Australia and Murdoch University.
AVL has completed a baseline pre-feasibility study for its Gabanintha Vanadium Project in WA, which estimates a net present value (NPV) range for the project that has an upper end of US$2.37 billion when assuming a US$20 per pound vanadium price.
The base case demonstrates robust project fundamentals featuring competitive product costs and financials and will allow AVL to move quickly into piloting and a definitive feasibility study.
Gabanintha has a vanadium resource of 175.5 million tonnes at 0.77% vanadium pentoxide, which includes a high-grade zone of 93.6 million tonnes at 1%.
A recently completed infill drilling program at the project confirmed a consistent 3 to 10-metre-thick zone grading over 1.2% vanadium in 10 of 11 holes.