London South East | The UK's favourite investor portal.

Https://www.linkedin.com/posts/vflowtech_1mwh-vanadium-innovative-activity-7064880905525350400-nfbj

We are delighted to share the successful completion and pick up of our ground breaking #1MWh system, comprising of our latest cutting-edge PowerCubes 100-500 system.

This system showcases our latest advancements in #Vanadium Redox flow battery technology, with a highly efficient stack, an improved cluster-wise efficiency for effortless servicing and an #innovative method for reducing shunt-related degradation.

We would like to express our heartfelt gratitude to all our dedicated team members and valued partners for their unwavering hard work and support in reaching this significant milestone. It has been an incredible journey, and we are excited to push even further!

To learn more about our revolutionary long duration #energystorage solutions and stay updated on our latest innovations, follow our page or visit our website at

https://vflowtech.com/.

https://www.linkedin.com/posts/mikhailnikomarov_vanadium-vrfb-flowbattery-activity-7060276327987195904-u06I

For non-vanadium flow batteries to be more competitive than VRFBs their electrolyte would need to cost 20 times less than vanadium-based electrolyte. This is based on modeling frameworks developed at MIT's Department of Chemical Engineering, which I shared in a post a few months ago (and link below).

Vanadium is ideal for a flow battery, and VRFBs have been proven to not just work but work extremely well (nearly no capacity degradation after over a decade of operation). The only reason that other flow battery chemistries are pursued is because vanadium is not the cheapest base material for electrolyte and, in theory, cheaper materials would create a cheaper electrolyte and thus a cheaper flow battery.

The research and modelling from the MIT shows that while this is theoretically possible, the additional costs needed to make other flow battery technologies work (including the cost of more expensive materials for the power module and / or downtime or additional systems to allow the electrolyte to "rest," not to mention lower round-trip efficiencies), mean that the cost of the non-vanadium electrolyte would need to be at lest 10 and likely 20 times less than vanadium-based electrolyte. Only at those really, really low electrolyte costs can non-vanadium flow batteries compete on a total ownership or levelised cost with a VRFB.

The challenge to achieve an electrolyte that has a manufactured cost of $10/kWh is immense, making it extremely unlikely, regardless of how cheap the base material is. Even in vanadium electrolyte, around 25% of the cost is not due to vanadium. Between $50-80/kWh is a manufacturing cost. It includes the costs of high purity water and reagents / acids, the cost of manufacturing (e.g. utilities, rent, labour, etc.) and the cost to recover the capital investment for the manufacturing plant itself. While all of these can be brought down significantly with scale, higher energy density, cheaper financing and optimisation, they will never be "free." I cannot envision achieving $10/kWh manufactured electrolyte, although $20-30/kWh may be possible at scale and with an optimised supply chain (and luck). At that price, though, the VRFB would still be cheaper overall.

Mikhail on Linkedin

https://www.linkedin.com/posts/mikhailnikomarov_vanadium-market-vrfb-activity-7057769176018341889-drnL

According to Pangang Group, energy storage is now the second largest consumer of vanadium, trailing only steel. VRFBs have passed titanium alloys and chemicals, by growing from 2.7% of global vanadium consumption in 2021 to 5.3% in 2022. This is a significant milestone, not just for the energy storage industry but also for the vanadium one. With steel demand falling a bit in 2022 (especially in China due to its now-abandoned "zero Covid" policy), this continued surge in VRFB demand was positive for the industry.

A few other observations:
1) The situation in China was more pronounced, with steel declining to ~83% of vanadium demand and energy storage exceeding 8%.
2) Outside of China, only ~1% of vanadium demand was from batteries, which explains why media coverage of this milestone is muted. Still, this was a significant increase from 2021, when only 0.5% of non-Chinese demand was from VRFBs.
3) Vanadium prices were slightly above the historical average in 2022, so seeing VRFB technology grow so quickly despite healthy vanadium prices is a positive sign, answering claims that "vanadium is too expensive" for batteries.
4) Of course, Pangang's data is just one source and other data bases (e.g. Project Blue) have smaller VRFB demand figures and higher steel demand ones for 2022. We need to see what other data sets show for the vanadium market. Nonetheless, as Pangang is the largest vanadium producer in the world, their data is likely robust, especially for the Chinese market.

Source: Presentation by Dr. Yang Xiongfei, Chengu Resources Development Company of Pangang Group, at the 2023 International Conference on Vanadium Redox Flow Batteries (12th Vanitec ESC Meeting)

https://www.scimeeting.cn/m/lives/details/14942?video_id=230142&lang=en

Polaris Power China VRFB News

https://news.bjx.com.cn/topics/quanfanyeliudianchi/

Rongke Power/Legend Capital
https://twitter.com/mastermines_cn/status/1652211094163963907?s=61&t=sEIAAQSR69vfNBHcTsCvgQ

In conjunction with the 2023 International Conference on Vanadium Redox Flow Batteries in Chengdu, China.

Simulcasting as a webinar for anyone to access from anywhere in the world FREE.

Register :

https://us02web.zoom.us/webinar/register/WN_kO-R_SOISQeeIPZzWtLpkg

Heavy focus on events in the Chinese VRFB market, which currently is by far the largest for the technology; however, the all-day event will feature many global perspectives, as well.

The general topics will be:
1. Global supply and demand of vanadium.
2. Policy and standard analysis of vanadium redox flow battery.
3. Development of key materials and technologies for the vanadium redox flow battery.
4. Production and application of the vanadium redox flow battery.

To achieve net-zero emissions globally by 2050, many countries around the world have increasingly adopted renewable energy as a means to mitigate the effects of climate change and reduce carbon footprints. A successful transition to clean energy requires safe, cost-effective, and reliable energy storage systems. Vanadium Redox Flow Battery (VRFB) is one of the most promising energy storage technologies for effectively using renewable energy. VRFB offers potential advantages owing to its durable and reusable nature and high safety rating. VRFB is currently the most investigated and widely adopted energy storage technology for long-duration, utility-scale energy storage applications. Hundreds of VRFB energy storage systems have been installed worldwide, with many more under construction or planned. VRFB has the highest potential to capture the largest market share of energy storage in the coming decades.
To further promote VRFB technology and expand the share of VRFB in the energy storage market, Vanadium International Technical Committee (Vanitec) and Vanitec-CISRI Vanadium Technology Center will jointly hold the 2023 International Conference on Vanadium Redox Flow Batteries (12th Vanitec ESC Meeting) on March 15-16, 2023 in Chengdu, China and online (Zoom Webinar). The conference registration is free and open to all. We invite you to participate in this upcoming conference and look forward to meeting you at this event.
This conference will focus on exchanging information on vanadium supply and demand, current vanadium consumption in VRFB, demonstrating VRFB applications, sharing the latest progress in VRFB technology, and providing a high-level technical exchange platform for VRFB researchers, producers and users, and vanadium producers.
The conference will be a hybrid meeting (in Chengdu + Zoom Webinar). We will have well-known experts in the vanadium industry and VRFB industry worldwide to give presentations, which will be mainly on-site and combined with online from speakers from outside of China. The Official Language for the conference is English and Chinese. Simultaneous interpretation will be provided at the meeting.
Organized by
Vanitec & Vanitec-CISRI Vanadium Technology Centre.
https://vani

Latest Share Chat

Member Info for Floyd81

Followers

Following

Posts (Last 30 Days)

Posts (All Time)

Last Post

Member Since

Share Chat Post Distribution (Last 30 Days)

Activity Log (Last 30 Days)

Latest Share Chat

Member Info for Floyd81

Followers

Following

Posts (Last 30 Days)

Posts (All Time)

Last Post

Member Since

Share Chat Post Distribution (Last 30 Days)

Activity Log (Last 30 Days)

Please enter at least 2 characters

No results found

Search results

Recently viewed

Trending