Dalian Rongke Power Group Co., Ltd. (RKP) is pleased to announce the signing of a strategic Collaboration Agreement with Richmond Vanadium Technology Limited (ASX: RVT) and TS Hold Co Pty Ltd (Trinasolar International System Business Unit’s Australian Company). This partnership aims to establish a comprehensive renewable energy and long-duration energy storage solution in Australia.
The signing ceremony, attended by leaders from all three companies, formalized an agreement to leverage each company’s unique strengths. RVT is currently completing a Bankable Feasibility Study and obtaining statutory approvals for its 100% owned 1.8Bt Richmond – Julia Creek Vanadium project in Queensland. Rongke Power, as the world’s leading vanadium redox flow battery (VRFB) supplier, brings advanced VRFB technology and extensive experience in vanadium electrolyte production. Trinasolar ISBU, a global leader in total solar energy solutions, complements the partnership with its expertise in developing, financing, constructing, and commissioning solar power plants worldwide.
The Collaboration Agreement focuses on several key initiatives:
- Development of RVT’s Vanadium Project: Including potential renewable energy and vanadium battery storage solutions for mining and ore processing.
- Innovative Processing Pathways: Conducting further metallurgical test work and designing a processing pathway from vanadium concentrate to vanadium electrolyte, aiming to reduce capital and operating costs.
- Demonstrating VRFB Superiority: Working with government, industry, and academia to showcase the advantages of VRFBs for long-duration (over 4 hours) grid-scale stationary battery technology, focusing on safety, longevity, scalability, recyclability, and levelised cost of storage.
- Establishing a Localized Manufacturing Facility: Setting up a grid-scale (over 1GWh) VRFB manufacturing and assembly facility in Queensland, utilizing Rongke Power’s leading electrolyte and cell stack technology alongside RVT’s vanadium resource.
- Complete Renewable Energy and Storage Solution: Providing integrated renewable energy (Trinasolar ISBU) and battery storage (RKP) solutions for domestic and international markets.
- Developing Local Industries: Promoting and developing primary, secondary, and tertiary industries for the installation, operation, maintenance, and support of new projects.
- Maximizing Regional Economic Benefits: Collaborating with all levels of government to enhance regional economic benefits, achieve energy transition targets, and reduce power costs for consumers.
Statements from Leadership
Philip Krause, Senior Vice President of Rongke Power, stated, “The collaboration with RVT and Trina showcases our collective commitment to advancing renewable energy solutions. By integrating the strengths of both parties with our leading VRFB technology, we are ready to demonstrate the unparalleled benefits of VRFBs in safety, longevity, and recyclability. Rongke Power is proud to partner with world leaders in this groundbreaking initiative to support Australia’s energy transition and reduce power costs for consumers.”
Jon Price, Managing Director of RVT, remarked, “The world cannot achieve its energy transition targets without utility-scale, long-duration battery storage. The adoption of vanadium redox flow batteries is increasing due to safety concerns, battery life, recyclability, and their capability for longer duration energy storage. This collaboration is an opportunity to showcase our combined technology, cost competitiveness, and reliability. RVT is delighted to be partnering with world leaders.”
John Zhong, Country Manager of Trinasolar ISBU Australia, added, “Embarking on the journey towards a sustainable energy future demands innovative solutions and strategic partnerships. This collaboration serves as a testament to the fusion of cutting-edge technologies, cost efficiency, and unwavering reliability. Together, Trinasolar ISBU and its esteemed partners illuminate the path towards a greener tomorrow, poised to lead the charge as global frontrunners in sustainable energy solutions.”
About Rongke Power Group Co., Ltd. (RKP)
Founded in 2008, Rongke Power is the leading global manufacturer of VRFB and a prominent provider of energy storage solutions. The company has achieved significant milestones, securing over 300 patented technologies and deploying more than 670 MWh of utility-scale batteries in strategic customer projects. Rongke Power’s innovative solutions support critical applications such as grid services, renewable energy integration, microgrid setups, and electricity market arbitrage.
About TS Hold Co Pty Ltd (Trinasolar ISBU)
Trinasolar is an internationally recognized leader in solar farm developments, known for its supply of PV modules and extensive experience in project development, financing, EPC, and O&M. Trinasolar ISBU, a business unit of Trinasolar, focuses on utility-scale global solar power and battery storage solutions. The company is active in over 20 countries and has grid-connected over 9.5GW of solar power plants globally.
About Richmond Vanadium Technology Limited (RVT)
RVT is an Australian minerals development company advancing the 100% owned 1.8Bt Richmond – Julia Creek Vanadium Project. RVT aims to unlock the potential of its world-class vanadium deposit to support the global energy transition and be recognized as a trusted global leader in the vanadium market.
Australia hosts the second-largest vanadium reserves in the world, promoting it as a significant player in the global vanadium market. Companies like RVT and Rongke Power are advancing these projects towards production to meet growing global demand. With abundant solar and wind resources, Australia’s government has set aggressive energy transition targets. This partnership is poised to unlock substantial opportunities, contributing to the region’s economic growth and supporting global energy goals.
We look forward to the exciting developments this collaboration will bring and the positive impact it will have on Australia’s energy landscape.
