Energy storage system maker VanadiumCorp has signed a deal with green energy project firm Ecosource to jointly manufacture vanadium redox flow batteries (VRFB).
German-based VanadiumCorp, a wholly owned subsidiary of VanadiumCorp Resources, and the Cordeel-owned Ecosource signed a memorandum of understanding (MoU) pledging to investigate the viability of manufacturing VRFBs.
They will also look into a joint venture to enable the megawatt to gigawatt manufacturing potential of VRFBs.
Both parties are expected to negotiate the terms and conditions of the following:
- Funding the CAPEX for commercial VRFB production
- Integration of renewable energy technologies
- Stationary and mobile energy-storage applications
Development of intellectual property, know-how, partnerships and mineral resources owned by VanadiumCorp as the leading position to mitigate the cost and carbon footprint of VanadiumCorp VRFB technology.
VanadiumCorp has manufactured and deployed a 12.5kW/40kWh VRFB system in Temse, Belgium. The system will be used for demonstration and field testing to assess the suitability of VRFB systems for megawatt to gigawatt applications.
In February, VanadiumCorp Resource signed a MoU with Delectrik Systems to develop VRFB electrolyte, and produce systems using the technology.