(Alliance News) - Bushveld Minerals Ltd and Invinity Energy Systems PLC on Monday said they have established a vanadium electrolyte supply joint-venture.
The deal will see Bushveld - a South Africa focused-vanadium producer - help provide vanadium electrolyte rental to Invinity's customers through Vanadium Electrolyte Rental Ltd.
Vanadium flow battery maker Invinity said renting electrolytes means its customers can save cash as they are able to rent electrolyte use instead of paying for a lump amount upfront.
The companies noted that VERL has signed a deal with Electricite de France SA, or EDF, unit Pivot Power to provide five megawatts per hour of electrolyte for its Oxford SuperHub project.
Bushveld shares were up 2.2% at 12.52 pence each in London on Monday morning. Invinity was up 4.6% at 115.00p.
By Eric Cunha; ericcunha@alliancenews.com
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Bushveld Minerals (BMN)
Invinity Energy (IES)