Following a competitive application process in conjunction with the Institute of Physics and Technology, a part of the Satbayev University in Almaty, the Kazakhstan Science Fund awarded Firma Balausa funding under the category of the most promising commercialisation of the results of scientific and scientific-technical activities.
Under the terms of the grant, Firma Balausa was required to provide co-funding of KZT60m (approximately US$128,000). The total funding has been used to both install equipment at the Company’s existing operation that is needed to produce mixed vanadium oxides (that are required to produce vanadium electrolyte for vanadium redox flow batteries) and to procure and install test-equipment and a vanadium redox flow battery at the premises of the Institute of Physics and Technology.
After further development and testing of the mixed vanadium oxide technology and the evaluation of the performance of the test-battery, the programme involves the production and sale of an initial three tonnes of mixed vanadium oxides.
The project is scheduled to last for 26 months from January 2023, after which the Company plans to continue the production of vanadium oxides to satisfy any regional demand for electrolyte or for vanadium mixed oxides for other purposes.
Further information on the Kazakhstan Science Fund can be found here.