The MOU has an 18-month term and is non-exclusive, with no agreed minimum supply volume, price, purchase commitment, or financial consideration, and any future pilot, development, supply, or offtake arrangement requiring successful technical and commercial evaluation and definitive agreements. Tyfast is developing LVO lithium-ion batteries for heavy-duty applications including mining, trucking, construction, and defence, giving Australian Vanadium a potential additional market alongside its established focus on vanadium flow batteries (VFBs).
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