Technology Metals Australia Limited announced the execution of a non-binding Memorandum of Understanding ("MoU") with LE System Co., Ltd. ("LES") of Fukuoka, Japan. The MoU covers technical collaboration to assess the potential application of LES' proprietary technology to extract vanadium (and other valuable metals) from the Gabanintha Vanadium Project ("GVP") waste streams and to explore establishing a joint venture ("JV") to investigate the opportunity to manufacture VRFB electrolyte in Western Australia. The non-binding MoU between Technology Metals and LES covers technology collaboration to explore the application of LES' proprietary processing technology, based on intellectual capital accumulated over a decade or more, to Technology Metals projects, including the extraction of vanadium (and other valuable metals) from GVP waste streams. Successful application of the proprietary processing technology to the GVP waste streams would provide LES with access to a low cost stable supply of vanadium products and provide Technology Metals with potential environmental management benefits, supporting the Company's key objectives of sustainability and environmental responsibility. The parties will also assess the application of the proprietary processing technology to the GVP process flow sheet to maximise product recovery, thereby further reducing the highly competitive forecast operating costs, and potentially reduce capital costs. Technology Metals and LES have been working together on developing this concept for some time, with a number of samples of GVP ore and waste streams sent to LES for initial assessment and confirmation analysis. This sample assessment and associated R&D will continue under the MoU, with Technology Metals to provide additional samples as requested and subject to availability. Under the MoU the parties have agreed to investigate the opportunity to jointly produce electrolyte for the VRFB market in Western Australia, initially focused on the use of vanadium sourced from GVP waste streams, but potentially expanding to use the high purity vanadium to be produced from the GVP. This opportunity would have scope to establish a significant downstream value add industry designed to target what TMT sees as the rapidly emerging stationary storage battery market opportunities in Australia, further enhancing 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.