Government Invests AUD 10 Million! Australia Builds Its First Commercial Vanadium Battery Supply Chain 补充说明:

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Government Invests AUD 10 Million! Australia Builds Its First Commercial Vanadium Battery Supply Chain 补充说明:

On September 11, the official website of the Queensland Government of Australia released a joint statement, which was co-issued by Ros Bates, Queensland's Minister for Finance, Trade, Employment and Training, and Dale Last, Minister for Natural Resources, Mines, Manufacturing and Regional Development. The joint statement stated that the Queensland Government will invest 10 million Australian dollars in Australia's first commercial-scale vanadium electrolyte plant located in Townsville to establish Australia's first "end-to-end" vanadium battery supply chain from mine to electrolyte. It is reported that this project is led by the Vecco Group and carried out in cooperation with Idemitsu Australia. The Townsville plant will use vanadium produced from Julia Creek to build a product manufacturing chain from the mine to the port, supplying vanadium flow batteries to the global energy storage market. The project is expected to create nearly 600 jobs in North Queensland and North West Queensland. The preliminary engineering is planned to start in 2026 and put into operation in early 2028. In June 2023, the Vecco Townsville Vanadium Electrolyte Plant was opened, becoming Australia's first vanadium electrolyte production plant. It is planned to expand electrolyte production in Townsville, the United States and Europe in 2026. Ros Bates, Minister for Finance, Trade, Employment and Training, said that this investment demonstrates the state government's determination to transform Queensland's abundant mineral resources into employment and export opportunities. Ros Bates said: "This project proves that our opportunities go far beyond the raw minerals underground. The cooperation between Vecco and Idemitsu Australia shows the global confidence in building an end-to-end vanadium battery supply chain in North Queensland." Tom Northcott, Managing Director of the Vecco Group, said that this project will enable Queensland to take a leading position in meeting the rapidly growing global energy storage demand. Northcott said: "With the support of partners, Vecco has a unique advantage in integrating the mining and manufacturing industries, and using our expertise in critical minerals to strengthen Queensland's downstream supply chain. The transformative Vecco critical minerals project will create hundreds of regional jobs, and we are grateful for the trust and support of the Queensland Government." Idemitsu Australia increases its shareholding in Vecco to 51% to advance the all-vanadium flow battery business In order to enter the critical mineral business, including minerals needed to promote the introduction of renewable energy, and acquire relevant knowledge, Idemitsu Australia has been investing in Vecco since 2022. The decision to make a majority investment in the company is based on the expectation of long-term growth and future revenue expansion of this business. In December 2024, Idemitsu Australia signed an agreement with Vecco to increase its shareholding in Vecco to 51%, which brought Idemitsu Australia's total investment in the company to 75 million Australian dollars. Idemitsu will lead the establishment of an integrated vanadium supply chain from mine development to electrolyte production, and fully enter the critical mineral business starting from Australia.

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