Idemitsu to take majority stake in Australian vanadium developer Vecco
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 18 2024
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Source: Reuters
Idemitsu Kosan's Stake Increase: Idemitsu Kosan plans to increase its stake in Vecco Group from 14.7% to 50.1%, gaining a majority in the Australian vanadium developer to enhance its position in the critical minerals market for battery production.
Vanadium Flow Batteries Development: The partnership aims to create a local supply chain for vanadium mining and electrolyte production, with Vecco's Debella project set to begin operations by 2027, addressing the growing demand for energy storage solutions in renewable energy systems.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
