Australian Vanadium (AVL) Investor presentation summary

VFB market and deployment

• China’s industrial-scale VFB technology and manufacturing base is opening a path to repeatable international projects, with the next step being bankable deployments.

• More than 8 GWh of VFBs are operating globally, with a further 44 GW of projects in construction or announced.

• Example projects include Flexbase in Switzerland at 2.1 GWh, Hunter VFB in Australia at 864 MWh, and Kalgoorlie VBESS at 500 MWh.

• If fully deployed, Flexbase, Hunter VFB and Kalgoorlie VBESS would represent almost 12% of estimated annual global vanadium oxide supply in new demand.

VFB economics and use cases

• Competitiveness depends on manufacturing scale, project-fit design and installation costs, stronger bankability and operating references, electrolyte financing, and local delivery partners.

• Electrolyte leasing could shift the electrolyte component, estimated at 40–50% of VFB capex, to opex; a similar model could potentially be applied in Australia.

• VFB attributes cited include extended duration, no thermal runaway risk, minimal degradation, full depth of discharge, and efficient cycling at higher temperatures.

• Potential applications include AI data centres, remote-site electrification, hot-climate storage, grid reliability, industrial uses, and high-cycle applications.

• A 50 MW / 500 MWh VFB BESS is modelled to require 4 kt of V₂O₅, equivalent to c.1.7% of global V₂O₅ supply.

Integrated platforms and project readiness

• Three linked platforms span vanadium mining and processing, electrolyte manufacturing, and utility-scale BESS solutions.

• The WA vanadium project has a 395.4 Mt resource at 0.77% V₂O₅, including 104.5 Mt at 1.12% classified as Measured or Indicated.

• The project’s Optimised Feasibility Study was targeted for completion in H2CY2026; current work includes remaining approvals, offtake and funding.

• An operational WA electrolyte facility supports product qualification with multiple OEMs; V-NOMAD is designed to produce electrolyte near battery projects and reduce delivered cost.

• VSUN Energy’s Lumina architecture and Horizon Power project experience support utility-scale VFB deployment, including in hot climates and remote locations.