Critical Minerals Group Ltd. (AU:CMG) has released an update.
Critical Minerals Group Ltd has received a grant of up to $2 million from the Queensland Government to build a vanadium electrolyte demonstration plant, boosting job growth and economic development in South East Queensland. The plant aims to produce vanadium electrolyte for vanadium redox flow batteries, with completion expected by the end of 2025. The company is matching the grant with a $2 million co-contribution, signaling its commitment to meet the increasing global demand for vanadium and to support renewable energy storage solutions.
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