Technology Metals (ASX:TMT) Enters International Battery Collaboration
Technology Metals (TMT) is set to begin a technical collaboration with Japanese research and development company LE System
Under the memorandum of understanding, the companies will unite to effectively use LES’s technologies to extract valuable metals from TMT’s West Australian projects
There’s also a potential joint venture in the pipeline as the companies look to manufacture vanadium redox flow batteries in WA
It is hoped the JV could supply a reliable supply chain for LES’ vanadium redox flow batteries electrolyte business in the Japanese market.
Technology Metals is is up 2.86 per cent on the market, trading at 36 cents per share
Technology Metals (TMT) is set to begin a technical collaboration with a Japanese research and development company LE System
Under the memorandum of understanding, the companies will explore the potential of LES’ proprietary technologies to extract vanadium and other valuable metal from the west streams of TMT’s Gabanintha Vanadium Project in Western Australia.
Technology hopes the move will maximise product recovery and subsequently reduce highly competitive forecast operating costs and potentially reduce capital costs.
The companies may also look to establishing a joint venture (JV)
to investigate manufacturing vanadium redox flow batteries (VRFB) in WA.
Further, the collaborators have also agreed to investigate selling high-grade, high-purity iron-vanadium concentrate produced from the Yarrabubba Iron-Vanadium Project, also located in the state.
It is hoped the joint venture would supply a reliable source of vanadium for LES’s VRFB electrolyte business in the Japanese market.
According to Technology Metals, the partnership and negotiations were supported and facilitated by the West Australian government’s Japan-based representative for the Department of Jobs, Tourism, Science and Innovation.
The memorandum of understanding is effective until December 31, 2021 unless the parties mutually agree to formally terminate or extend the term.
Technology Metals is is up 2.86 per cent on the market, trading at 36 cents per share at 12:09 pm AEDT.
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