Technology Metals Australia Limited announced the execution of a non-binding Memorandum of Understanding ("MoU") with Big Pawer Electrical Technology Xiangyang Inc. Co. Ltd. ("Big Pawer"). The MoU covers establishing a binding V2O5 offtake agreement over vanadium production from the Gabanintha Vanadium Project ("Project" or "GVP") and a joint venture ("JV") to investigate the opportunity to produce vanadium electrolyte and establish a Vanadium Redox Flow Battery ("VRFB") manufacturing base in Australia. TMT and Big Pawer have agreed to use their best endeavours to negotiate a definitive and binding offtake agreement ("Agreement") for the supply and purchase of vanadium pentoxide ("V2O5") product that the Company intends to produce from the Project. The Company and Big Pawer also intend to negotiate the establishment of a JV to produce vanadium electrolyte /establish a VRFB manufacturing base in Australia, utilising Big Pawer's proprietary VRFB technology and TMT's premium high purity vanadium product. Big Pawer, headquartered in Xiangyang, Hubei Province, Peoples Republic of China, is one of the VRFB research, development and manufacturing companies, having supplied VRFB systems to over 20 locations globally. The JV contemplated in the MoU provides the scope to bring together Big Pawer's world leading proprietary VRFB technology and TMT's very high purity product to establish a significant downstream value add industry, producing vanadium electrolyte and potentially developing a VRFB manufacturing base to target the rapidly emerging stationary storage battery market opportunities in Australia. This opportunity further enhances the significant economic and social benefits for the Mid- West region of Western Australia, the State and the Nation that the development of Gabanintha is expected to generate over a long period of time.