Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Gambitxjs, hopefully also a long overdue acknowledgement from the market that we’re not solely a mining company - which can only help our P/E
Vauch Im of opinion It will happen very soon, we've been financially raped by the markets over the last 2 years because they could get away with it, but now everything is starting to fall into place for our vertical integration model- the first contracts from Eskom should be awarded shortly the dynamics of the company totally change with multiple streams of income which are future proof protected against vanadium price volatility.
We have been waiting over 2 years for this to get back to 50p
All I need to say today is "5 bag from here is a cert within the next couple of months"
Under this circumstance, how will flow batteries expand their market share in many battery technology routes?
In Liu Qinghua’s view, with the successful development of high-power density all-vanadium redox flow battery stacks, the maturity of the new generation of all-vanadium redox flow battery technology, and the participation of more enterprises in the upper reaches of the industry chain, all-vanadium redox flow batteries are in the initial stage. Competitiveness in terms of investment cost and system efficiency will continue to improve.
Yan Chuanwei also pointed out that in the past two to three years, the technology of all vanadium redox flow batteries has advanced by leaps and bounds. Now this technology has been able to form a complete R&D system, and there are no insurmountable difficulties or bottlenecks in industrial development.
"The emergence of high-power density all-vanadium redox flow battery stacks provides basic technical support for the development of a new generation of low-cost all-vanadium redox flow batteries, and also provides an opportunity to promote the integration of the industrial chain. Technological innovation will continue to attract more Strong price-competitive electrolyte developers, high-reliability system integrators, and large-scale capital entry have since provided a foundation for further reducing the cost of energy storage systems." Liu Qinghua said.
Liu Qinghua told reporters that from the operation of the previous demonstration project, the all-vanadium liquid flow energy storage function is complete, the single energy storage power station also has advantages, and the safety and reliability have been fully verified. According to statistics, as of the end of 2019, there have been more than 200 demonstration and application projects of vanadium flow battery technology worldwide, and the first project has been in operation for more than 20 years.
The industry generally believes that under current technological development conditions, large-capacity, fast-response all-vanadium redox flow battery energy storage systems can have a certain market space in a variety of future energy storage application scenarios, and specific application scenarios may include Renewable energy distribution and storage, grid-side energy storage, thermal power frequency modulation, emergency power protection of urban energy storage power stations, etc.
The bottleneck of industrialization no longer exists
Relevant data show that as of the end of 2019, among the energy storage projects that have been put into operation in my country, pumped storage capacity accounts for 93% of the total installed capacity, including electrochemical energy storage for technical routes such as lithium ion batteries, lead batteries, and flow batteries. The installed capacity accounts for about 5%, while in the electrochemical energy storage installed capacity, the flow battery accounts for about 2%. At the same time, the installed capacity of lithium-ion batteries accounts for more than 75%. In the energy storage industry, lithium-ion batteries are still in a "dominant" position.
Liu Xiaolu, vice president of the Smart Energy Division of Tianneng Battery Group Co., Ltd., pointed out: “Compared with other electrochemical energy storage technology routes, lithium-ion batteries are easier to achieve standardization and modularization, and at the same time, they are more capable of flexible deployment. Ion battery technology has been in a leading position globally, and lithium ion batteries are likely to remain the mainstream of the energy storage industry for some time to come."
In Liu Qinghua's view, the design innovation of high-power density battery stacks is an important breakthrough in cost reduction. The reporter learned that the latest research results of the Low Carbon Institute show that innovations in the design of all-vanadium redox flow battery stacks can effectively improve battery power density. The Low Carbon Institute also won the "2020 China Energy Storage Industry Best Frontier Energy Storage Technology Innovation Award" by the Organizing Committee of the China International Energy Storage Conference. Liu Qinghua told reporters: "Compared with conventional all-vanadium redox flow batteries, the all-vanadium redox flow battery newly developed by the Low Carbon Institute has significantly improved the power density of the energy storage stack and the energy efficiency of the battery, and the cost has also been reduced by about 30%. Around, the low-carbon institute's technology has obvious cost-effective advantages.
With the continuous iterative update of battery technology and the declining cost, industry experts generally believe that the all-vanadium flow battery has the conditions for commercial development. Yan Chuanwei, a researcher and professor at the Institute of Metal Research, Chinese Academy of Sciences, once publicly stated that the current all-vanadium flow battery is the most mature flow battery. Considering the advantages of the flow battery itself, the all-vanadium flow battery can meet the requirements of large-scale energy storage industrialization. Ideal technology, its technical performance and cost have also reached the level of large-scale development.
Demonstration projects have been "settled" in many places
The reporter learned from public information that demonstration projects of all-vanadium flow batteries have been implemented in many regions of my country. On September 23 this year, the Xinjiang Aksu All-vanadium Redox Flow Battery Industrial Park project started laying the groundwork. The project is expected to form a 100 MW all-vanadium battery energy storage equipment production capacity, which will play an important role in the peak shaving of the local power grid. In the same month, my country’s only chemical energy storage peak-shaving power station, Dalian flow battery energy-storage peak-shaving power station national demonstration project also launched a 220kV transmission project. The advancement of this project also means that the application of flow batteries in the field of energy storage has entered a new stage.
Thanks SG.
"During the '14th Five-Year Plan' period, China's all-vanadium flow battery will usher in a very good opportunity for large-scale promotion. With the implementation of all-vanadium flow battery energy storage demonstration projects in various places and successful technical verification, it is expected to be in the next five years. It is an important window period for the flow battery to move from maturity to promotion." Liu Qinghua, head of energy storage technology at the National Energy Group Beijing Low-Carbon Clean Energy Research Institute (hereinafter referred to as "Low-Carbon Institute"), said in an interview with reporters recently. Since the beginning of this year, all vanadium flow battery projects have been put into operation in Xinjiang, Fujian, Liaoning and other regions of my country. Flow battery is the "star of the future" in the field of large-capacity energy storage. With the continuous expansion of the energy storage market, how will it win market favor in the fierce competition in the future?
Technological iteration costs are falling rapidly
In recent years, the scale of installed energy storage capacity in my country has always been in a stage of rapid growth. Under the tide of the global "green economy", the demand for renewable energy storage has also greatly boosted the energy storage market. Flow battery, as a kind of electrochemical energy storage, has attracted the attention of the industry due to its advantages such as large capacity and high safety. Among them, the all-vanadium flow battery is more favored by researchers because of its good battery performance.
It is understood that the all-vanadium redox flow battery has higher safety performance due to its water-based energy storage medium. At the same time, the all-vanadium redox flow battery has a cycle life, full life cycle electricity cost, resource sustainability and resource recovery. Features and other key performance indicators have obvious competitive advantages. For many years, domestic and foreign researchers have been promoting the cost reduction path of this emerging battery technology.
Chrome it;
http://mchuneng.bjx.com.cn/cndc/
All vanadium flow battery ushered in the promotion window...
Excellent post, Paul.
And also you make a superb point - that the Q3 Update may include news as to whether Bushveld have chosen to exercise their right to supply Invinity and Enerox for those contracts in California & Australia.
Very exciting days ahead : )
-Updates on Increased Production at Vametco and Vanchem- Last year Vametco produced circa 2,850 mtV, this year projected to be circa 3,800 mtv including Vanchem. That’s a circa 25% increase in Production for 2020!
-News of Reduced Production Costs at Vametco and Vanchem.
-Increased Sales to China (currently 18%, an increase of 600% from last year)
-Updates on the Construction of Bushveld’s new Electrolyte Plant
-Updates on the New Solar plus VRFB Mini-Grid at Vametco. Built to guarantee electricity supply to the mine but also to showcase this concept to other mines all over Africa!
-News of new Vanadium supply contracts with Invinity Energy Systems, who have just announced nearly 8MWh of new Business in California.
https://www.lse.co.uk/rns/IES/invinity-chosen-for-78mwh-of-california-projects-hpohq4g6ml35dpo.html
Remember Bushveld have the first right of refusal to supply Vanadium into these projects!
-Updates on our Minority stake in Enerox. Maybe news on the new 200 MWh Pangea Storage Project in Australia which Enerox signed an LOI on in 2019.
https://renewablesnow.com/news/cellcube-pangea-join-hands-in-50mw200mwh-aussie-storage-project-654064/
Bushveld again has first right of refusal to supply the Vanadium.
-News on the Massive $400million Eskom Battery Energy Storage Tender.
We really are due the largest re-rate that AIM’s ever seen I think!!