The facility will consist of a single 12-cell electrolyser unit that has capacity to produce one million litres of vanadium electrolyte a year for use in vanadium redox flow batteries.
Vanadium batteries are capable of storing medium to long-term energy that enters the grid. With a global focus on decarbonisation, particularly an increased need for industrial scale energy storage solutions, the popularity of vanadium redox flow batteries is expected to increase.
Resource analysts are predicting a vanadium supply deficit of around 14% by 2030, with projects like these seeking to capitalise on the market opportunity.
Queensland is well positioned to respond to the global need with our rich supplies of vanadium and other critical minerals.
Support from the Queensland Government is expected to accelerate delivery of the CMG project by up to 12 months. Once complete and operational, the facility will support 8 new jobs, with a further 18 jobs if the plant expands to commercial scale.
The $170 million Queensland’s Critical Minerals and Battery Technology Fund is supporting companies across the supply chain to boost local industry involvement in this emerging industry.