Advanced vanadium developer Technology Metals Australia has entered into a non-binding Memorandum of Understanding with Indian steelmaking company Tata Steel. The MoU establishes a framework for discussions regarding offtake of vanadium pentoxide and other downstream vanadium products. The parties will investigate downstream technical collaboration with scope for joint development of ferrovanadium production facilities in Western Australia and India. Discussions will also include potential investment by Tata Steel into Technology Metals Australia and the Murchison Technology Metals Project.Technology Metals is developing Murchison Technology Metals Project in Western Australia to produce high purity vanadium pentoxide and is investigating opportunities to move downstream including the production of vanadium electrolyte, ferrovanadium and vanadium nitride. Technology Metals is developing the high grade Murchison Technology Metals Project located 50km south of Meekatharra in Western Australia with targeted vanadium production of about 12,500 tonne per annum V2O5 over an initial 25 year mine life. The MTMP hosts an Ore Reserve Estimate of 44.48 million tonne @ 0.89% V2O5 divided between the Gabanintha and Yarrabubba deposits.Vanadium is utilised in the steel industry where it is primarily used in metal alloys such as rebar and structural steel, aircraft and automotives. The addition of a small amount of vanadium can increase steel strength by up to 100% and reduces weight by up to 30%. Utilising higher strength steel reduces overall CO2 emissions through increased efficiency of use, longer service life and higher capacity across a range of applications.Benefits of using vanadium in high strength steel1. Less micro-alloyed steel is required in construction applications to achieve the required structural performance, reducing consumption of raw materials and energy2. Addition of a small amount of vanadium can increase steel strength by up to 100%.3. Stronger, longer lasting steel with greater seismic performance means higher service life4. While increasing tensile strength of steel, adding vanadium also reduces its weight by up to 30%. Less weight in aircraft and automotive applications, for example, leads to less overall carbon emissions5. Use of vanadium in steel is critical to the reduction in carbon footprint through increased efficiency and economy of material, especially in the construction and transportation sectorsThe construction sector is the biggest consumer of steel products, and vanadium plays an essential role in providing cost-effective solutions by increasing the strength of reinforcing bars in buildings, tunnels and bridges, and strengthening steels to resist fire, earthquake and corrosion.Vanadium is used in aerospace applications to provide low density, high strength, and strength at high operating temperatures, essential for components such as aero-engine gas turbines and airframes.In automotives, the inclusion of vanadium assists in strength, reliability, ease of manufacture and highest strength-to-weight ratio to minimise fuel consumption and increase economic efficiency.