Quarterly Report Overview

Richmond Vanadium Technology Limited (ASX: $RVT) is pleased to present its Quarterly Report for the period ending 30th June 2024. The company reported a Collaboration Agreement signed with Dalian Rongke Power Group Co., Ltd (RKP) and TS Holdco Pty Ltd (Trinasolar International System Business Unit's Australian company) (Trina) to establish a new grid scale Australian vanadium battery industry. The agreement aims to develop the Richmond - Julia Creek Vanadium Project inclusive of a potential renewable energy and vanadium battery storage power solution for mining and ore processing, complete further test work and design on a new processing pathway from vanadium concentrate directly to vanadium electrolyte, and establish a localised grid scale VFB manufacturing and assembly facility in Queensland, among other goals.

Executive Commentary

RVT regards itself as a key industry partner alongside other vanadium developers. Together, we have a common goal to educate and engage the wider population on the opportunity and necessity of vanadium for stationary battery energy storage systems.

Quarterly Report Summary

The Quarterly Report highlights the Collaboration Agreement signed to establish a new grid scale Australian vanadium battery industry. RVT aims to develop the Richmond - Julia Creek Vanadium Project inclusive of a potential renewable energy and vanadium battery storage power solution for mining and ore processing. The company also plans to complete further test work and design on a new processing pathway from vanadium concentrate directly to vanadium electrolyte, establish a localised grid scale VFB manufacturing and assembly facility in Queensland, and work with government, industry, and academia to demonstrate the superiority of VFBs for long duration grid scale stationary battery technology. The company's ambitions align with the global energy transition targets and the growing demand for vanadium in the renewable energy sector.