The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
Q1 2023 Operational Update Conf Call Recording
https://www.brrmedia.co.uk/broadcasts/644a50569bbed7e46f648ad0/bushveld-minerals-q1-2023-operational-update/
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
https://www.linkedin.com/posts/andrada-mining_power-infrastructure-greenenergy-activity-7056221429515603968-k9do
https://thebrief.com.na/index.php/component/k2/item/2741-germany-pledges-to-help-namibia-set-up-lithium-processing-plant
https://news.bjx.com.cn/topics/quanfanyeliudianchi/
Also Pangang Group Vanadium and Titanium Resources : The company expects that about 8,000 tons of vanadium products will be used in energy storage in 2023
Polaris Energy Storage Network learned that when answering investors' questions on the interactive platform on April 17, the company's vanadium products of about 5,000 tons will be directly applied to the energy storage field in 2022. According to the "2023 Annual Framework Agreement for Cooperation on vanadium Battery Energy Storage Raw Materials" signed by the company and Dalian Rongke, if The transaction was fully carried out smoothly. It is expected that about 8,000 tons of vanadium products will be used in energy storage in 2023, and the proportion of vanadium products used in the energy storage field of the company in 2023 will be close to 20%.
https://news-bjx-com-cn.translate.goog/html/20230418/1301605.shtml?_x_tr_sl=zh-CN&_x_tr_tl=en&_x_tr_hl=en&_x_tr_pto=sc
https://twitter.com/kevingshang/status/1648086332466421766?s=61&t=sEIAAQSR69vfNBHcTsCvgQ
Dalian Rongke Power closed its Series B financing round, with investors including Legend Capital putting over US$145 million into this #vanadium flow #battery solution provider, supporting capacity expansion and R&D.
https://news-bjx-com-cn.translate.goog/html/20230417/1301378.shtml?_x_tr_sl=zh-CN&_x_tr_tl=en&_x_tr_hl=en&_x_tr_pto=sc
https://www.linkedin.com/posts/jonathan-lee-637810a_more-vanadium-batteries-a-100mw600mwh-activity-7053132796726296576-ZRtw
More vanadium batteries - a 100MW/600MWh VRFB in Baicheng, China
"Polaris Energy Storage Network learned that on April 10, Jilin Province started a record-breaking 108 new energy projects, with an installed power generation capacity of more than 7 million kilowatts and a planned investment of 25.2 billion yuan this year. China Vanadium Energy Storage (Hubei) Technology Co., Ltd. and Shanghai Electric Group Co., Ltd. invested in constructing a 100MW/600MWh vanadium redox flow battery energy storage power station in Baicheng. It can also be understood as a super "clean energy" power Bank".
Xie Guangguo, chairman of China Vanadium Energy Storage (Hubei) Technology Co., Ltd., said in an interview that China is building a new power system with new energy as the main body. The intermittent and random characteristics of wind power and photovoltaics have brought new opportunities for the development of the energy storage industry. Compared with other energy storage technologies, the all-vanadium redox flow battery energy storage technology has higher security and great development potential.
Cyril speaking earlier today @ the SA Investment Conference.
https://www.youtube.com/live/tNgYHdW52Yc?feature=share&t=2617
https://www.linkedin.com/posts/bushveld-minerals_vanadium-saic-activity-7052251581257326592-_bLI
http://www.mustangplc.com/announcements/28112022%20Acquisition%20of%20additional%20interest%20in%20VRFB%20Holdings%20Limited.pdf
The 2021 Noteholders and BMN (as the holders of the 2021 CLNs and the 2022 CLNs respectively) and the parties to the Investment Agreement have agreed to extend the Maturity Date until 31 March 2023 (the "Extended Maturity Date") to allow for the finalisation of a prospectus and review process of that prospectus by the Financial Conduct Authority in connection with Readmission, a process that is well underway.
Cellcube 0.75MW / 3MWh
Alexander Schoenfeldt @ the Vanitec Conference
https://youtu.be/6aVTvOkMzS4?t=681
https://youtu.be/6aVTvOkMzS4?t=888
Product
1 x Cellcube FB500-2000, 1 x FB250-1000
Installation/COD
Q1 2023 / Q2 2023
Application
Renewable integration, energy shifting, voltage regulation & resilience
Applied Medical
https://www.appliedmedical.com/
Chengdu, Sichuan Province, China.
15-16th March 2023
https://vanitec.org/vanadium/ESC-Meetings
Playback with English Translation
https://www.scimeeting.cn/m/lives/details/14942?state=1678894924&openid=oXzmFjuxaVrpBy3xedAKG-u4_Q8c
https://www.scimeeting.cn/m/lives/details/14942?state=1678894924&openid=oXzmFjuxaVrpBy3xedAKG-u4_Q8c
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
Speech by Queenslands Premier Annastacia Palaszczuk
https://www.linkedin.com/posts/tom-northcott-6a0b5829_vanadium-qldjobs-batteries-activity-7038779016895483904-SOG
“Five years ago when I talked about vanadium I received some puzzled looks. ??Very few people had heard of vanadium outside the steel industry. ??Now vanadium flow battery factories are under development in the United States, China, Japan, South Korea, India, Singapore, the United Kingdom, Germany and Austria. ??Global vanadium demand is forecast to rise by over 100 per cent by 2030. ??As the cost of lithium rises from demand for electric vehicles vanadium is becoming a preferred alternative for large grid batteries. ??North West Queensland has known world class deposits of vanadium with the potential to both supply the nation and our strategic trade partners.
That’s why our government is backing the industry to invest. ??Today I can advise that Vecco will build a $26 million vanadium electrolyte manufacturing facility right here in Townsville. ??The first vanadium battery electrolyte facility in the nation with production commencing later this year. ??The facility will employ 21 people and produce enough electrolyte for 175 megawatt hours growing to 350 megawatt hours of storage annually. ??When Vecco’s Julia Creek vanadium mine is operational this processing facility will use Queensland vanadium”
Vecco
https://veccogroup.com.au/batteries/
C-Tech Innovation Ship 2 million Litre Per Annum Vanadium Electrolyte Manufacturing Equipment
https://www.ctechinnovation.com/vanadium-electrolyte-manufacturing/
Battery Energy Storage Capacity Bid Window of The IPP Tender No: DMRE/028/2022/23
https://www.ipp-storage.co.za
Programme Milestones
ESIPPP Programme preliminary milestone dates, subject to change, are as follows:
Bid Window 1
RFP released in the market 7th March 23
Bid Submission 5th July 23
https://usvanadium.com/us-titanium-alloys-aerospace-threatened/
Designated by the U.S. Government as a “Critical Mineral” in 2019, vanadium is a metal used in high-performance titanium alloys that are vital to jet engines, aircraft structures, and vehicle armor. Such alloys have the highest strength-to-weight ratio of any engineered material, according to the U.S. Geological Survey (“USGS”). Because there are no acceptable substitutes for vanadium in aerospace titanium alloys, it is essential for both military aircraft and ballistic missiles.
Vanadium-alloyed steels are used in virtually every high-strength structural steel application in military equipment, including military-grade AH36, AH32, and MIL22698 steels used to build U.S. Naval aircraft carriers and submarines, as well as in combat vehicles, tactical vehicles, tactical bridges, material handling equipment, aircraft, watercraft, rail trailers, and steel structures. Vanadium-alloyed steels are also used in mortar tubes, cannon tubes, and in howitzers, as well as in blast resistant hardened structures.
In the commercial sector, vanadium-alloyed steels are used in infrastructure applications such as auto parts, buildings, bridges, cranes, pipelines, rail cars, ships and truck bodies.
The more you use a vanadium flow battery the cheaper it is, the more you use a lithium battery the shorter it lives.
https://twitter.com/invinityenergy/status/1631625699776770048?s=61&t=sEIAAQSR69vfNBHcTsCvgQ
The battery storage sector is about to enter its first ever phase of large-scale augmentations of systems as they reach 3-5 year degradation points and there are questions over how this will pan out, a representative of Burns & McDonnell told Energy-Storage.news.
“Most battery storage projects will add or replace battery capacity within the first three to five years as those existing batteries degrade, typically by 5-15% in that period. There are a lot of questions as we hit this first round of augmentations because we really haven’t seen augmentations executed in a major way yet,” said Jason Barmann, Energy Storage Technology Manager for the engineering, procurement and construction (EPC) firm.
Barmann agreed that since the big ramp-up in utility-scale battery storage deployments has been over 2020-2022, the coming few years will be the first big wave of augmentations.
Prolux Solutions launches Home Storage - a 6kWh VRFB manufactured in Europe.
https://twitter.com/vsunenergy/status/1629672621511151617?s=61&t=sTHabuz5Rd7JCK0G6FbN4w
https://www.prolux-solutions.com/de/de/storac
Cellcube
Compact solution for Energy Storage coming in 2023.
https://www.cellcube.com/soon_cs/
Storen
https://www.storen.tech/
https://www.linkedin.com/posts/mikhailnikomarov_vanadium-vrfb-china-activity-7033863021244424193-t-CQ
Is storage generation? Is it transmission (and/or distribution)?
https://www.linkedin.com/posts/mikhailnikomarov_developing-a-revenue-model-is-the-next-challenge-activity-7033858507305099264-uHrv
Absolutely @ clarkgriswold.
Delectrik & Tata Power
Vishal Mittal Founder Delectrik systems on LinkedIn
https://www.linkedin.com/posts/mittavishal_tata-power-sustainable-is-attainable-india-activity-7033652622939074560-rb2R
Tata Power, which is India’s largest integrated private power companies features Delectrik on nationally televised 'Sustainable is Attainable'. The episodes focus was on a new technology that has the potential to revolutionize & accelerate the energy transition. It is exciting to see Delectrik’s Vanadium Redox Flow Battery feature as that possible solution (Timing 15:00-16:00 min in the show). We are grateful for the association and support from Tata Power and look forward to doing our bit in fast-tracking India's transition to Green, Sustainable and Affordable Energy.
Tata Power Sustainable Is Attainable: India Energy Bulletin Focusing On Innovations In Clean Tech
(Delectrik clip)
https://youtu.be/-qr8xY46Ksw?t=894
Delectrik closes a MWh scale Flow Battery project in Europe for EV charging application. Energy arbitrage from Solar + ESS and demand charge savings makes it more viable than a conventional grid based EV charging and yes this would be go a long way in achieving the net zero goals of organizations and countries at large. The system will be deployed later this year.
https://twitter.com/delectrikinfo/status/1626084889111175168?s=61&t=zOLySpl5yiKczWloh9Qhfg