AVL Signs Joint Venture with Ultra Power Systems on Coates Vanadium Project

Vanadium deposit to be explored primarily for application in vanadium redox flow batteries

Highlights:
• Joint Venture Agreement signed with vertically integrated electrochemical processing and energy storage technology company Ultra Power Systems Ltd (UPS) to evaluate AVL’s Coates Vanadium Project.
• UPS aims to produce vanadium electrolyte using a combination of a unique processing route and high-density vanadium electrolyte production.
• AVL has signed a JV to create value for shareholders by;
➢ Monetising a secondary asset and;
➢ Testing processing technology focused on enhancing the uptake of vanadium redox flow batteries in Australia.
• Agreement allows for AVL to receive either $500,000 or equivalent shares in UPS.