Richmond Vanadium Technology has announced the signing of a collaboration agreement with Dalian Rongke Power Group and TS Hold Co, Trinasolar International System Business Unit’s Australian entity, to establish a localised renewable energy and long duration energy storage solution in Australia.
The agreement involves the parties working together as below:
- Development of RVT’s Richmond – Julia Creek Vanadium project, inclusive of a potential renewable energy and vanadium battery storage power solution for mining and ore processing
- Completion of further metallurgical test work and flow sheet design on a new innovative processing pathway from vanadium concentrate directly to vanadium electrolyte that could deliver significant potential reductions in capital and operating costs
- Liaison with government, industry and academia to demonstrate the superiority of VRFBs for long duration (+4hrs) grid scale stationary battery technology in terms of safety, longevity, scalability, recyclability and levelised cost of storage
- Establishment of a localised grid scale (+1GWh) VRFB manufacturing and assembly facility in Queensland utilising RKP’s world leading electrolyte and cell stack technology and RVT’s vanadium resource
- Collaboration to provide a complete renewable energy and battery storage co- operative in Australia for domestic and overseas markets
- Promotion and development of localised primary, secondary and tertiary industries for installation, operation, maintenance and support of new projects
- Liaison with government to maximise regional economic benefits to contribute to achieving energy transition targets to lower power costs for consumers
Jon Price, Managing Director of RVT, commented: “Utility scale renewable energy and long duration energy storage will assist the world to achieve its energy transition targets. Industry, academia, the banking and investment sector and governments must work collaboratively to meet this common goal for the benefit of future generations. This collaboration is an opportunity to demonstrate the parties’ combined technology, cost competitiveness and reliability. We look forward to working with RKP and Trina to develop a complete localised supply chain from raw material to end product for Australia and world markets.”
Philip Krause, Senior Vice President of RKP: “The collaboration with RVT and Trina showcases our collective commitment to advancing renewable energy solutions. By integrating the strengths of both parties with our leading VRFB technology, we are ready to demonstrate the unparalleled benefits of VRFBs in safety, longevity, and recyclability. RKP is proud to partner with world leaders in this groundbreaking initiative to support Australia’s energy transition and aim to reduce power costs for consumers.”
John Zhong, Country Manager of Trinasolar ISBU Australia, concluded: “Embarking on the journey towards a sustainable energy future demands innovative solutions and strategic partnerships, Trinasolar, as a pioneering force in renewable energy, has always brought forth a legacy of excellence and innovation. This collaboration serves as a testament to the fusion of cutting- edge technologies, cost efficiency and reliability. Together, Trinasolar and its partners will strive to illuminate the path towards a better tomorrow, poisedto join the charge as global frontrunners in finding sustainable energy solutions.”
