AVESS partners with Unicoh Specialty Chemicals on electrolyte development

  • Announcements
  • 16th February 2023

VRFB manufacturer AVESS is delighted to announce the signing of a non-binding MoU with South
Korean chemical solutions company Unicoh Specialty Chemicals Co., Ltd, to explore the development of
electrolyte manufacturing technology for application in VRFBs.

Vanadium Redox Flow Batteries (VRFB) are affordable, long-duration rechargeable flow batteries, which
offer superior safety and power benefits compared to other batteries.

Unicoh – a POSCO Certified Partner since 2005 – is recognised for pioneering a range of successful chemical
processes across South Korea. Building on its success over the past 50 years, Unicoh continues to improve the
productivity and efficiency of its vanadium electrolytes, whilst minimising the impact of specialty chemicals on the environment.

As the demand for clean energy solutions increases globally on the journey to net-zero, the uptake and
application of VRFBs by commercial and industrial sectors across Asia-Pacific is set to grow – particularly in
China, Japan, Korea and Australia.

Moreover, 4.1 GWh of VRFB systems are now operational, announced, or being installed worldwide – including 3GWh in China alone.

And with the demand for vanadium electrolytes projected to increase due to the uptake and application of
VRFB’s, securing a reliable vanadium resource is critical to enabling the sustained rollout of battery energy
storage solutions in Korea, and in Australia.

AVESS Managing Director Young Yu celebrated the partnership with Unicoh and the opportunities that the
MoU brings to AVESS.

“As we progress towards the commercialisation of VRFB’s in Australia, it is extremely exciting to be forming a JV with Unicoh, who have spent decades working to solve industry issues with creativity and innovation.

“This partnership embodies AVESS’ goal of becoming Australia’s first full VRFB manufacturer, by offering a
renewable, long duration, decarbonisation solution.”

AVESS is the majority shareholder (50%) of South Korean VRFB company KORID Energy Co Ltd and its world-class stack technology, which provides the Company with a significant competitive advantage as it expands its presence in the Australian and global energy storage sector.