The scheme encourages companies to engage in research and development benefiting Australia by providing a tax offset for eligible activities.
Australian Vanadium’s R&D work focused on the development of processing techniques to produce vanadium from a poly-metallic ore for vanadium redox flow batteries (VRFB) and steel applications.
The work was a continuation of the previous year’s activities and included research on vanadium electrolyte creation and analysis of the performance of the VRFB, which the company installed in Busselton, Western Australia.
The VRFB battery has been running since its installation in October 2016 and the company has been able to assess how it performs in a range of different temperatures and analyse other key metrics that the built-in battery management system provides.
Australian Vanadium is submitting a claim for the 2017/2018 period which covers further work on these R&D activities as well as additional processing research and development work related to the recovery of vanadium products from the Australian Vanadium Project.