Critical Minerals Group (CMG: ASX), a Brisbane-based company focused on delivering comprehensive and sustainable energy storage solutions, has announced the achievement of key milestones in its domestic vanadium electrolyte end-to-end supply chain project. This progress triggers a $900,000 progress payment under the Grant Agreement with the Department of Industry, Science and Resources. The funding will enable CMG to further advance its flagship project, aimed at establishing a complete vanadium electrolyte supply chain for battery materials.
The $2.7 million grant, awarded in December 2024 through the Australian Government’s International Partnerships in Critical Minerals (IPCM) program, supports CMG’s collaboration with its largest shareholder, Idemitsu Australia Pty Ltd. The project focuses on establishing a domestic vanadium end-to-end supply chain for battery-grade chemical minerals. This is a cornerstone of CMG’s strategy to fast-track the development of the vanadium pentoxide and electrolyte supply chain, which is critical for vanadium flow battery (VFB) energy storage solutions.
Within seven months, CMG has completed pivotal activities, including pilot plant test work and processing flowsheet development, environmental field studies, and preparation of the Mining Lease application. The company has also identified the preferred bulk sampling site at its Lindfield Project in Julia Creek and completed the feed stage for the Vanadium Electrolyte manufacturing Facility in Logan, Queensland. Managing Director Scott Winter stated that the progress reflects the project’s strategic importance and CMG’s commitment to delivering value to stakeholders.
CMG remains on track to deliver the next stages of the project, further building Australia’s capability in critical minerals processing. Additional funding stages in the Grant Agreement include $100,000 in February 2026, $789,000 in August 2026, and a final payment upon completion of the project’s final report in March 2027. CMG will host an investor webinar on August 20th to discuss these developments and other company updates.
