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14/02/2023 | TMT ASX ANNOUNCEMENT: Battery Grade Vanadium Electrolyte Produced - MTMP Ore to Electrolyte Pathway Confirmed Technology Metals Australia generates battery-grade vanadium electrolyte using Murchison feedstock. Technology Metals Australia has produced battery-grade vanadium electrolyte from the Murchison vanadium resource in Western Australia. The achievement was made in collaboration with LE Systems and demonstrates the potential for a local, domestic supply of battery-grade vanadium. The successful production of battery-grade vanadium electrolyte will allow Technology Metals Australia to participate in the growing vanadium redox flow battery market. Vanadium redox flow batteries are gaining traction as a renewable energy storage solution due to their scalability, safety, and ability to support grid stability. Technology Metals Australia is a vanadium mining company focused on developing its Murchison Technology Metals Project in Western Australia. Technology Metals Australia (TMT), an Australian vanadium mining company, has announced that it has successfully produced battery-grade vanadium electrolyte from the Murchison vanadium resource in Western Australia. The achievement was made in collaboration with LE Systems, a Japanese technology company specializing in the design and production of vanadium redox flow batteries. Successful production of battery-grade vanadium electrolyte represents a significant milestone for Technology Metals Australia and demonstrates the potential for a local, domestic supply of battery-grade vanadium in Australia. Vanadium redox flow batteries are gaining traction as a renewable energy storage solution due to their scalability, safety, and ability to support grid stability. The successful production of battery-grade vanadium electrolyte will allow Technology Metals Australia to participate in this growing market and further advance the development of its Murchison Technology Metals Project in Western Australia. In a statement Managing Director Ian Prentice said: "Production of high quality vanadium electrolyte from MTMP feedstock is a significant step in TMT’s strategic goal of becoming an integral participant in the VRFB supply chain.The fact that this maiden batch of electrolyte meets the strict specifications of VRFB manufacturers is a testament to the first-class orebody at the MTMP and the industry leading status of our technology partner LE System.TMT is looking forward to progressing its relationships with global VRFB manufacturers and moving towards electrolyte production to support the growing long duration energy storage market in Australia.” Ian Prentice, Managing Director of Technology Metals Australia Technology Metals Australia: A Vanadium Mining Company Technology Metals Australia Limited is an ASX-listed vanadium mining company focused on developing its Murchison Technology Metals Project (MTMP), located in Western Australia. The project comprises of the Gabanintha and Yarrabubba Vanadium Projects which when combined, contain 153.7Mt at 0.8% V2O5 and is one of the largest, highest-grade vanadium deposits in the world. TMT represents an Australian domestic supply of Vanadium Electrolyte which is needed for large-scale roll-out of grid storage batteries. Overall, the successful production of battery-grade vanadium electrolyte from the Murchison vanadium resource is a significant achievement for Technology Metals Australia and demonstrates the potential for a local, domestic supply of battery-grade vanadium. With the growing demand for renewable energy storage solutions, the vanadium market is expected to grow in the coming years, and Technology Metals Australia is well-positioned to capitalize on this trend. TMTs Collaboration with LE Systems was Key to the Successful Production of Battery-Grade Vanadium Electrolyte LE Systems is a Japanese engineering company specializing in the development of process technologies for the energy and environmental sectors. The company has worked closely with Technology Metals Australia to develop a proprietary production process for high-purity vanadium electrolyte, which has now been successfully demonstrated at the Murchison project. LE Systems' expertise in vanadium processing and flow battery technology has been critical to the success of the collaboration, which is aimed at producing a reliable domestic source of battery-grade vanadium for the emerging vanadium redox flow battery market. By working together, Technology Metals Australia and LE Systems have achieved a major milestone in the development of this technology, with significant potential for growth in the future. LE Systems is an innovator in the Vanadium Redox Flow Battery Space One of LE Systems achievements has been to develop a new vanadium electrolyte for use in flow batteries that can operate over a wider temperature range than existing vanadium electrolytes. The new electrolyte is based on a proprietary process developed by LE Systems, which improves the thermal stability and performance of the electrolyte. This allows flow batteries to operate in a wider temperature range, making them more suitable for use in extreme environments such as hot climates and cold winters. Advantages of VRFBs Vanadium Redox Flow Batteries (VRFBs) are an emerging technology that offer several advantages over traditional battery technologies, including scalability, long life, and high efficiency. They are particularly well-suited for use in large-scale energy storage applications, such as grid-scale energy storage, where their high energy capacity and low cost per kWh make them an attractive option. LE Systems' new vanadium electrolyte could help to further improve the performance and competitiveness of flow batteries, opening up new opportunities for the technology in a range of applications.

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Technology Metals Australia (ASX:TMT) Achieves Major Milestone with Production of Battery-grade Vanadium Electrolyte in Collaboration with LE Systems

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