BushveldMinerals Ltd. said April 4 that its 84%-owned subsidiary BushveldEnergy Ltd. and UniEnergy Technologies have signed a memorandum ofunderstanding to cooperate in the development of market opportunities forvanadium-redox flow batteries.

Bushveld Energy and UniEnergy will identify and developimmediate business opportunities in Africa for large and medium installationsof vanadium-redox flow batteries. In addition, the companies will develop a strategyto create a vanadium value chain in South Africa that includes vanadiumelectrolyte manufacturing, vanadium-redox flow battery manufacturing and localcomponent sourcing in the medium term.

Bushveld Minerals launched Bushveld Energy in January, with the unitfocused on the development and promotion of the role of vanadium in the growingglobal energy storage market.