Energy storage firm American Vanadium has signed a letter of intent that gives it exclusive rights to buy a vanadium redox flow battery business at the end of February.
The Canadian firm is preparing to buy the shares of the ‘CellCube’ business from German firm Gildemeister (GES), a subsidiary of Japanese company DMG Mori Seiki.
The move would pave the way for American Vanadium, which owns the only vanadium mine in the US, in Nevada, to control its entire manufacturing line.
American Vanadium has been the North American agent for Gildemeister since May 2013.
The CellCube flow battery energy storage system offers off-grid back-up power with high-purity vanadium electrolyte at either 30kW or 200kw, depending on the model.
