- Australian Vanadium awarded $15 million from Investment Attraction Fund (IAF) to establish vanadium electrolyte manufacturing facility
- IAF supporting a diversified economy and unlocking private sector investment
- Funds will support large-scale battery installations as well as increasing local content in the vanadium flow battery supply chain
The Cook Labor Government has awarded $15 million through the Investment Attraction Fund (IAF) New Energies Industries Round 2 to Australian Vanadium Limited (AVL) to establish a high-capacity, relocatable vanadium electrolyte manufacturing facility in Western Australia.
The project will expand AVL's capacity to produce vanadium electrolyte to support large-scale battery installations as well as increasing local content in the vanadium flow battery supply chain.
Vanadium flow batteries use liquid vanadium electrolyte solutions in separate tanks to both store and release electricity.
Skilled employment and training opportunities in advanced manufacturing, chemical processing, engineering, construction, commissioning, and plant operations will be created, while its modular and relocatable design enables deployment across regional and industrial centres throughout the State.
The project presents an opportunity for the State to further invest in energy transition initiatives by supporting grid-scale energy storage, strengthening critical minerals supply chains, and help to build local industries required for a low-carbon future.
The IAF funding will also support the development of grid-scale vanadium flow batteries and long-duration energy storage infrastructure in the State.
The IAF has supported 47 projects since first launching in 2022 with over $215.2 million in funding awarded, generating 290 direct jobs and 1,479 contractors engaged.
To date, more than $4 in spending is generated from every $1 distributed through the fund.
For more information on the IAF, see: Investment Attraction Fund
As stated by State Development and Economic Diversification Minister David Michael:
"The Investment Attraction Fund continues to play a critical role in attracting projects that strengthen Western Australia's industrial capabilities and support our energy transition.
"By supporting AVL's electrolyte manufacturing capability, we're creating new opportunities in advanced manufacturing while helping position WA at the forefront of long-duration energy storage technologies.
"The development of a high-capacity vanadium electrolyte facility will support local jobs, strengthen our manufacturing capability, and provide the foundations for future grid-scale battery projects across the State."
As stated by Energy and Decarbonisation and Manufacturing Minister Amber-Jade Sanderson:
"The Cook Labor Government wants to see more things made right here in WA.
"Our Made in WA plan is working, with new data showing manufacturing jobs have risen 13 per cent over the past year.
"This is another great example of the Cook Labor Government backing innovative Western Australian manufacturing projects."
