Australian Vanadium (ASX:AVL) receives financing interest

Australian Vanadium Limited (ASX:AVL) has received a non-binding Letter of Interest from the Export-Import Bank of the United States (EXIM) for up to US$31 million in debt financing for the development and construction of the Australian Vanadium Project. The support from EXIM is related to the potential sourcing of equipment from the U.S. for the Project.

CEO, Graham Arvidson, on EXIM's support

CEO, Graham Arvidson, commented, 'Receiving support from agencies such as EXIM to help fund the Project demonstrates its advanced and significant nature. AVL is working with a range of export credit agencies around the world, including Australia, in addition to commercial banks, to help secure finance to support the development of the Project. Vanadium is classed as both a critical and battery mineral, with countries around the world looking to establish secure supply chains. Working with the United States aligns with the Australian Federal Government's strategic goals for the critical and battery mineral industries.'

Summary of Australian Vanadium (ASX:AVL) announcement

Australian Vanadium Limited (ASX:AVL) has received a non-binding Letter of Interest from the Export-Import Bank of the United States (EXIM) for up to US$31 million in debt financing for the development and construction of the Australian Vanadium Project. The support from EXIM reflects growing international backing for the strategic development of vanadium projects in Australia. AVL continues to engage with Australian and international government agencies and commercial banks for financing. The Project, located at Gabanintha and Tenindewa, is one of the most advanced vanadium projects globally, with a focus on vanadium as a critical and battery mineral. The company's vertical integration strategy includes processing vanadium to high purity, manufacturing vanadium electrolyte, and developing projects based on renewable energy generation and vanadium flow battery energy storage.