Australian Vanadium Limited (AU:AVL) has released an update.
Australian Vanadium Limited has announced the receipt of a $14.7 million milestone payment from the Australian Government, contributing to the company’s project to develop domestic vanadium production for batteries. The grant, part of a larger $49 million funding initiative, supports the construction of a vanadium processing facility and promotes Australia’s transition to renewable energy through the vanadium flow battery industry. As the project progresses, it’s expected to generate hundreds of jobs and bolster the country’s long-duration energy storage capabilities.
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