Australian Vanadium (ASX:AVL) has signed a memorandum of understanding (MoU) with GENiUX Pty Ltd to embed clean energy infrastructure into real estate developments.
GENiUX is an end-to-end real estate clean technology solutions business with a focus on creating sustainability and affordability.
Part of its business is to work with property developers to embed clean technology infrastructure into their developments such as micro-grids.
AVL’s 100% owned subsidiary, VSUN Energy Pty Ltd offers solutions for energy storage using vanadium redox flow batteries (VRBs).
The VRB is a safe and stable energy storage device which offers the ability to store large amounts of energy for delivery over a period of many hours.
The MoU will allow for the companies to work together to find projects which will benefit from VRB technology to provide renewable energy for the occupants.
This agreement follows on from the MoU signed earlier this month with clean energy company EPC Technologies to look into similar mutually beneficial opportunities.
AVL recently also appointed a consultant to perform a strategic analysis of the residential storage market and to investigate VSUN Energy’s potential within it.