Coerclerici Group, through its Singaporean subsidiary Coeclerici Far East Pte Ltd, has made a strategic investment in Vecco Group, a private Australian company developing the Debella Critical Minerals Project located in the world class North West Minerals Province in Queensland, Australia.
The Project will establish a mine producing vanadium, rare earth elements and high purity alumina, each critical to the global renewable energy and electrification revolution. Vecco Group is also constructing the first commercial-scale vanadium battery electrolyte manufacturing plant in Australia, with production set to be used in grid scale battery projects in late 2023.
Vecco Group Managing Director Thomas Northcott said, “We are pleased to receive this investment from Coerclerici Group as we develop our Debella Project to supply critical minerals to the growing battery market.”
“Vecco’s production of vanadium and high purity alumina will integrate directly with our battery component manufacturing facility to ensure the global supply of critical minerals remains available and affordable for energy storage applications, while creating regional jobs for Queenslanders.”
“Vecco is working with its partners to create a local supply chain and circular economy to enable the large increase in vanadium battery deployments needed to support the Queensland Government’s 62b Energy and Jobs Plan”.
Coeclerici Far East Pte Ltd Director Giacomo Clerici said, “Coeclerici choose to be an active player in the green economy transition and Vecco Group will be a strategic partner in this journey”.
“Energy Storage is key for renewable energy and Vandium Flow Batteries are a proven option for large scale energy storage..”
About Vecco Group
Vecco Group is a private Australian company developing the Debella Project to produce vanadium, high purity alumina and rare earth elements for batteries and renewable energy infrastructure.
Vecco are supporting the growing large domestic market for vandium batteries by creating Australia’s first commercial scale vanadium electrolyte production facility.
By producing and value adding to Queensland’s rich resource of critical minerals, Vecco will ensure global supply remains available and affordable for energy storage applications.
About Coeclerici Group
Founded in 1895 in Genoa by Alfonso Clerici and Scotsman Henry Coe, The Coeclerici Group is one of the world leaders in the commodities market for the steel and chemical sectors. It is currently present in 12 countries.
Coeclerici, following the acquisition of the IMS Technologies Group, is also active with three plants in Italy, in the design and production of high-tech industrial machinery for the converting and packaging sector.