Storage

Neometals invests in US start-up working on rapid charge lithium and vanadium battery

Published by

ASX-listed battery minerals company Neometals is to invest $US500,000 in a US-based battery start up that is looking at developing an ultra fast charging technology featuring both vanadium and lithium.

Perth-based Neometals is involved in the processing and recovery of both minerals, and owns the Barrambie Titanium and Vanadium Project – one of the world’s highest-grade hard-rock titanium-vanadium deposits.

It has invested in Tyfast, a start-up spun out from the University of California San Diego and which is focused on developing a long-life, fast-charging lithium battery that utilises a proprietary vanadium-based anode technology.

Tyfast, which was founded in early 2021, is targeting the production of battery cells that reduce charging times by 20-fold, down to 3 minutes, extending battery lifecycle by 20-fold, up to 20,000 cycles, and maintaining the high energy density already found in state-of-the-art lithium-ion batteries.

On top of that, Tyfast is developing its vanadium technology to be a drop-in replacement for standard graphite anodes in existing lithium-ion battery manufacturing to allow direct and immediate integration into existing manufacturing lines, which should lead to a speedy commercialisation.

“Tyfast is moving quickly, and the future source of high purity and ethically sourced vanadium will soon be critical path,” said Dr. G.J. la O’, Tyfast’s CEO and founder.

“The potential production of high-purity vanadium compound at Neometals’ Vanadium Recovery Project located in Pori, Finland can be a raw material source for Tyfast’ s expansion in the European Union.

“The investment and potential raw material supply will ensure Tyfast can rapidly meet the market demands for the growing energy storage market.”

Neometals investment is being made in the form of a convertible note which will provide Neometals with the ability to obtain a minority equity stake down the track.

“This opportunity will provide direct exposure to battery electrode materials with Tyfast’s vanadium-based anode technology,” said Chris Reed, Neometals’ managing director. “We are impressed by the Tyfast team and their technology and are pleased to be backing this exciting start-up.”

Joshua S. Hill is a Melbourne-based journalist who has been writing about climate change, clean technology, and electric vehicles for over 15 years. He has been reporting on electric vehicles and clean technologies for Renew Economy and The Driven since 2012. His preferred mode of transport is his feet.

Joshua S Hill

Joshua S. Hill is a Melbourne-based journalist who has been writing about climate change, clean technology, and electric vehicles for over 15 years. He has been reporting on electric vehicles and clean technologies for Renew Economy and The Driven since 2012. His preferred mode of transport is his feet.

Share
Published by

Recent Posts

Australia’s biggest coal state breaks new ground in wind and solar output

New South Wales has reached two remarkable renewable energy milestones that signal the growing contribution…

6 January 2025

New Year begins with more solar records, as PV takes bigger bite out of coal’s holiday lunch

As 2025 begins, Victoria is already making its mark on the energy landscape with a…

3 January 2025

What comes after microgrids? Energy parks based around wind, solar and storage

Co-locating renewable generation, load and storage offers substantial benefits, particularly for manufacturing facilities and data…

31 December 2024

This talk of nuclear is a waste of time: Wind, solar and firming can clearly do the job

Australia’s economic future would be at risk if we stop wind and solar to build…

30 December 2024

Build it and they will come: Transmission is key, but LNP make it harder and costlier

Transmission remains the fundamental building block to decarbonising the grid. But the LNP is making…

23 December 2024

Snowy Hunter gas project hit by more delays and blowouts, with total cost now more than $2 billion

Snowy blames bad weather for yet more delays to controversial Hunter gas project, now expected…

23 December 2024