Our new website is coming soon, give it a try now and let us have your feedback. Take me to the Beta



Register
Login:
Share:
Email Facebook Twitter


TSX Lithium explorer International Lithium Corp prepares to drill at Raleigh Lake
Exclusive: Hardman & Co Investor Forum - Severn Trent, Calculus Capital, Volta Finance, Residential


Redt Energy Alliance News (RED)



Alliance News for Redt Energy (RED)


Share Price: 1.025Bid: 1.00Ask: 1.05Change: -0.225 (-18.00%)Faller - Redt Energy
Spread: 0.05Spread as %: 5.00%Open: 1.275High: 1.275Low: 1.025Yesterday’s Close: 1.25




Bushveld To Investigate Energy Storage Opportunities In South Africa

Mon, 13th Jun 2016 10:36

LONDON (Alliance News) - Bushveld Minerals Ltd on Monday said it has signed a cooperation agreement with South Africa's government-owned development fund to investigate the economic viability of manufacturing and using vanadium redox flow batteries in the country.

Bushveld will work with the Industrial Development Corp (IDC) to determine the viability of utilising South Africa's vast vanadium resources to manufacture batteries to then be used to help alleviate the country's lack of infrastructure, mainly the poor coverage offered by its power grid.

"Africa's insufficient power infrastructure and rapidly growing electricity demand create a unique environment for immediate, mass-scale adoption of energy storage across a variety of use cases. The agreement with IDC is an important step for Bushveld Energy, and we are very pleased to add a major local partner with significant resources and expertise in building successful, long term businesses in South Africa," said Fortuna Mojapelo, chief executive of Bushveld.

The IDC is a government-owned financial institution which provides funds for the industrial development of the country. The organisation approved ZAR11.50 billion worth of funding to companies in 2015, equal to around USD1.00 billion, across various sectors.

Energy storage is a growing market and has seen major developments occur in North America, Europe and Asia, but Bushveld believes South Africa offers an opportunity due to its power set-up, combined with its vast vanadium resources, with the country being one of the primary producers and exporters of the commodity.

Bushveld is already in the vanadium sector through its project that lies in one of South Africa's most important vanadium-producing regions, which is responsible for 26% of the world's supply.

The company's wider portfolio contains projects in South Africa focused on iron ore, titanium and tin, and also has an interest in a company that is involved in a coal project in Madagascar.

Vanadium redox flow batteries can help tackle numerous power problems as they can allow energy to be generated and then stored to be utilised when it is needed.

For example, one of the major hurdles of renewable energy is that the power generated must be used immediately, causing some energy to be wasted or a lack of energy supply when renewable sources can't generate enough power, such as when solar power suffers from a lack of sun or turbines from a lack of wind.

Africa as a whole is a prime area that could benefit from energy storage as most nations on the continent are less than half covered by a power grid, meaning many residents and businesses rely on off-grid power solutions, including the use of diesel generators.

The set-up of South Africa and the wider continent makes it the "logical base" for manufacturing vanadium redox flow batteries, according to Bushveld. This will help to support other natural resource sectors by offering a power solution to process plants used in the mining industry, a key part of the South African economy.

Bushveld signed a separate cooperation agreement earlier this year with US-based UniEnergy Technologies that also will look at potential battery opportunities in South Africa, aiming to develop a strategy to create a vanadium "value chain" in the country.

Under the new cooperation agreement, Bushveld and the IDC will commission a feasibility study to assess the viability of vanadium redox flow batteries and the associated costs within South Africa. The study will try to identify potential partnerships at home and abroad to support the roll-out and local manufacturing of the batteries.

The pair have agreed to establish two verification sites of up to 1.0 megawatts each within South ~Africa to demonstrate the performance of vanadium redox flow batteries and the use in commercial and utility applications.

Bushveld said it has started to prepare to carry-out market studies and the technical evaluation for local manufacturing of vanadium electrolyte and vanadium redox flow battery systems.

If Bushveld can progress its strategy and become a player within the battery market, then it will join the likes of fellow London-listed RedT Energy PLC, which is also one of the companies pursuing opportunities using vanadium redox flow batteries with numerous systems being trialled across the globe.

Bushveld shares were trading up 1.6% to 2.01 pence per share on Monday morning.

By Joshua Warner; joshuawarner@alliancenews.com; @JoshAlliance

Copyright 2016 Alliance News Limited. All Rights Reserved.

Alliance News


Related Shares:





RedT Energy Signs Partnership Contracts To Move Into New Markets

LONDON (Alliance News) - RedT Energy PLC said Monday it is moving into international new markets after signing partnership contracts to place redT energy storage machines and to pr
[18 Sep '17 08:30]

RedT Agrees To Place Energy Storage Units On Cornwall Holiday Retreat

LONDON (Alliance News) - Energy storage technology company redT Energy PLC said Tuesday it has signed an agreement with working farm and holiday retreat The Olde House to place six
[18 Apr '17 09:21]

RedT Energy Appoints David Stewart As Commercial Director

LONDON (Alliance News) - Energy storage technology company redT energy PLC on Wednesday said it has appointed David Stewart as commercial director.Stewart joins redT from turnkey m
[8 Mar '17 12:24]

RedT To Develop Hybrid Energy Storage System With Newcastle University

LONDON (Alliance News) - Energy storage technology firm RedT Energy PLC on Wednesday said it will work with Newcastle University on creating a hybrid energy storage system.Backed b
[7 Sep '16 07:57]

UK Shareholder Meetings Calendar - Next 7 Days

UK AGM, EGM CalendarWednesday, August 17John Laing Environmental Assets GroupAmiad Water SystemsThursday, August 18Blue Planet Investment Trust Friday, August 19No events sch
[16 Aug '16 15:03]

Bushveld To Investigate Energy Storage Opportunities In South Africa

LONDON (Alliance News) - Bushveld Minerals Ltd on Monday said it has signed a cooperation agreement with South Africa's government-owned development fund to investigate the economi
[13 Jun '16 09:36]

RedT Says First Energy Storage Systems Arrive In South Africa

LONDON (Alliance News) - Energy storage technology firm RedT Energy PLC on Monday said two of its energy storage systems have arrived in South Africa, to be used in a residential d
[13 Jun '16 08:10]

RedT Says First Energy Storage Systems Arrive At Customer Project

LONDON (Alliance News) - Energy storage technology firm RedT Energy PLC on Monday said two of its energy storage systems have arrived at the Power Networks Demonstration Centre in
[6 Jun '16 06:38]




Share Price, Share Chat, Stock Market news at lse.co.uk
FREE Member Services
- Setup a personalised Watchlist and Virtual Portfolio.
- Gain access to LIVE real-time Regulatory News (RNS).
- View more Trades, Directors' Deals, and Broker Ratings.
Share Price, Share Chat, Stock Market news at lse.co.uk




Home  |  Contact Us  |  About Us  |  Advertise with Us  |  Sitemap  |  Terms & Conditions  |  Cookies  |  Privacy  |  Mobile Site  |  About this website design


Datafeed and UK data supplied by NBTrader and Digital Look. While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.