Australian Vanadium Ltd (ASX:AVL) has thanked founding director Leslie Ingraham for his 12 years of service to the company following his retirement this week.
The retirement of the executive director came into effect on Wednesday, March 8.
Board chair Cliff Lawrenson said: “I extend my gratitude to Les for the years of service he has given to the board and AVL in his role as executive director.
“A pillar of support”
“He was instrumental in the establishment of AVL’s core strategy to advance the Australian Vanadium Project and importantly, he has been a pillar of support in the company’s ongoing participation in vanadium redox flow battery development.
“Along the way, Les has helped successfully steer AVL through a wide range of market conditions.
“We are certain he will remain a close friend and shareholder and we wish him all the best in his next endeavours.”
AVL is a resource company focused on vanadium, seeking to offer investors exposure to all aspects of the vanadium value chain – from resource through to steel and energy storage opportunities.
The company is advancing the development of its world-class Australian Vanadium Project at Gabanintha in Western Australia.
“Mixture of emotions”
The retiring director said: “I leave AVL with a mixture of emotions. I am proud of what the team has achieved so far and look forward to see the Australian Vanadium Project progress through to production.
“I am also very excited for the future prospects of VSUN Energy, as the vanadium redox flow battery takes its rightful place in the energy transition.
“I am confident that I am leaving the company in good hands and feel that the new board structure is exactly what the company requires at this stage in its development.
“I would like to thank past and present board members and our committed staff for all their hard work to get the company to the position that it’s in.”
AVL and VSUN Energy
The Australian Vanadium Project is one of the most advanced vanadium projects being developed globally, with a JORC-compliant resource of 239 million tonnes at 0.73% vanadium pentoxide (V2O5).
Within this is a high-grade zone of 95.6 million tonnes at 1.07% V2O5 and an ore reserve of 30.9 million tonnes at 1.09% V2O5.
VSUN Energy is AVL’s 100%-owned renewable energy and energy storage subsidiary which is focused on developing the Australian market for vanadium redox flow batteries (VRFB) for long-duration energy storage.
The subsidiary was set up in 2016 and has since become world-renowned for its VRFB expertise.
AVL’s vertical integration strategy incorporates processing vanadium to high purity, manufacturing vanadium electrolyte and working with VSUN Energy as it develops projects based on renewable energy generation and VRFB energy storage.