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The potential backing of the project comes with the agency having a track record of supporting projects involving Danish interests.
Danish company FLSmidth is tagged as a "key equipment supplier" to the Murchison Technology Metals project.
MTMP consists of the Gabanintha and Yarrabubba deposits that are seen as underpinning targeted average vanadium production of about 12,500t per annum of V2O5 over an initial 25-year mine life.
A development decision is understood to be expected in the short term.
Technology Metals had $15 million cash at the start of the recently completed December quarter.
Shares in Technology Metals were up 6% to 36c in afternoon trade, capitalising the company at $75.5 million.
