The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
22 January 2023
Eskom will implement permanent load-shedding in South Africa for the next two years, the state-owned power utility’s chairman Mpho Makwana has said.
In a media call on Sunday, Makwana warned that South Africans should expect continuous stage 2 to stage 3 power cuts for the next 24 months.
“We want to create some predictability,” Makwana said. “Shuttling from one stage to the other is never good.”
However, outgoing Eskom CEO André de Ruyter later clarified that continuously implementing a specific stage of load-shedding would not be possible.
Higher stages might sometimes be necessary, and if Eskom’s generating unit breakdown situation improves, lower stages could be possible.
The state-owned power utility’s power station general manager, Thomas Conradie, also later said they hope to decrease day-time load-shedding to stage 1 in the coming week.
Makwana said permanent load-shedding would form part of Eskom’s plan to increase its Energy Availability Factor (EAF) to a point where it could stop load-shedding within the next 24 months.
“The global average for EAF is about 86%. We’re looking to grow from our current 58% EAF to 70% in the next two years,” said Makwana.
The planned journey to 70% is hoped to take place on the following timeline:
60% EAF — end-March 2023
65% EAF — end-March 2024
70% EAF — end-March 2025
Stage 8 possibility ‘receding’
Eskom CEO Andre de Ruyter added that while there has been much speculation about stage 8 load-shedding, this is no longer a likely scenario.
“The possibility of stage 8 load-shedding is receding, which is comforting and positive,” said de Ruyter.
“However, there is always an inherent risk, and for that purpose, we have to protect our diesel reserves.”
https://mybroadband.co.za/news/energy/477261-eskom-announces-permanent-load-shedding.html
Old- ish - but contains a comprehensive educational background for newbies. Imo!
Assessing the role of vanadium technologies in decarbonizing hard-to-abate sectors and enabling the energy transition
Volume 24, Issue 11, 19 November 2021, 103277
https://www.sciencedirect.com/science/article/pii/S2589004221012463# for newbies.
@ Cereal-killer,BMN use the Vanadium Salt Roasting method to extract V. It’s a highly complex process. They take that method further in order to produce Nitrovan. There are also other methods of producing V. As Spritefan suggests, best use Google.
RNS Number : 0547N Invinity Energy Systems PLC
18 January 2023
Further to its announcement on 23 February 2022, Invinity Energy Systems plc (AIM: IES) (AQSE: IES) (OTCQX: IESVF), a leading global manufacturer of utility-grade energy storage , is pleased to provide an update on its participation in the UK Government's Department for Business, Energy & Industrial Strategy's (BEIS) Longer Duration Energy Storage Demonstration ("LODES") Competition.
Invinity was awarded GBP708,371 of funding from BEIS under Phase 1 of the LODES competition to carry out a comprehensive planning and feasibility study for a large scale, grid-connected vanadium flow battery project in the UK (the "Project"). Invinity is pleased to announce that it has successfully completed this phase of the competition with assistance from its Phase 1 consortium partners.
The Company has also now submitted the required application and supporting materials to BEIS in respect of Phase 2 of the LODES competition and will look to publish certain findings from the completed feasibility study on its website in due course. If successful in this application, BEIS is expected to make available funds of up to GBP11m in support of Project development costs, representing a significant proportion of the total(1) .
Invinity now awaits a final decision from BEIS in respect of the award, after which the Project would move through definitive contracting to the build and commissioning stage (Phase 2) alongside a new Phase 2 development partner, a leading UK-focussed developer of flexible generation and battery storage projects. Invinity currently expects to be notified of BEIS' decision within the next few months.
Jonathan Marren, Chief Development Officer at Invinity said:
"We are very grateful to BEIS for the support we have received to date through our participation in the LODES programme. Technologies such as vanadium flow batteries, engineered and assembled in the UK, are playing an ever-greater role in accelerating progress towards net zero, in no small part thanks to initiatives such as this.
With this submission now completed, we believe that Invinity and its partners have made a significant step towards the development and deployment of what could be a highly significant UK energy storage project. "
(1) The Company cautions that due to the competitive nature of this process, there is no guarantee Invinity will ultimately be successful in the award of Phase 2 or the scale of any such award.
Batteries will play a greater and greater role in the green energy revolution. From electric vehicles (EVs) to efficient electronics, there are a variety of batteries on the market applicable for various uses, the ubiquitous energy source being the Lithium-ion (Li-on) battery. Vanadium Redox Flow Batteries (VRFB) are a cutting-edge type of rechargeable flow battery, that employs vanadium ions as the active materials .
The unique properties of VRFBs gives manufacturers an edge in certain applications (e.g., utility/grid energy) over other batteries in the space. Below we will lay out the similarities and differences between a Vanadium battery and Lithium-ion. To illustrate this, let’s look at some of the main features and differences between VFRBs and Lithium-ion batteries.………
https://capital10x.com/battery-tech-report-lithium-ion-vs-vrfbs/amp/
And:
The Increasing Market Potential of Vanadium and Vanadium Flow Batteries
In 2023, there are several additional factors to consider in the development of the VRFB market and overall vanadium demand outlook.
https://capital10x.com/the-increasing-market-potential-of-vanadium-and-vanadium-flow-batteries/amp/
Doubt they’re much interested in developing Mokopane anytime soon Ben. They allowed the mining license to expire and have had to apply for an extension but probably only to keep it in house.
Before they start to develop another mine they’re going to need to increase the processing capacity to cope with the proceeds of any substantial increase in excavation.
That of course is the $150 million plan which is subject to being phased in over the next few years and dependant on earnings for funding to get capacity up to the 8,000 mtV mark.
“We recently announced the key findings of the feasibility and pre-feasibility studies regarding the optimal path forward to increase Vametco and Vanchem's production to 8,000 mtVp.a. The expansion will be conducted in phases and will only be pursued once we have met our short-term performance goals of 5,000 - 5,400 mtVp.a. and secured the necessary funding”
A new mining facility at Mokopane is probably bottom of the list of thing to do until that is all well under way.
Little, if any change, except for the Orange Trust figure, which looks to be an obvious typo.
4 Orange Trust 139 828 913. 5.62
Orange Trust have consistently had a holding around the 72 million mark.
This report shows it as being exactly the same as the nominee account above it.
(3 Halifax Share Dealing 139 828 913 10.86)
Once again … an abysmally unprofessional report from BMN.
@ SIPPmeister, “I would like to see any Capex after that point deployed to a microgrid at Vanchem”. They’ve already admitted that they don’t have the footprint room for a mini-grid on that site and that was why they were exploring other options!
January 12, 2023,
The Business Research Company's Vanadium Ore Global Market Report 2023 – Market Size, Trends, And Global Forecast 2023-2032
January 12, 2023 /EINPresswire.com/ -- The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
The Business Research Company’s “Vanadium Ore Global Market Report 2023” is a comprehensive source of information that covers every facet of the vanadium ore market. As per TBRC’s vanadium ore market forecast, the vanadium ore market size is expected to grow from $3.76 billion in 2027 at a CAGR of 6.1%.
The increasing use of Vanadium in automobile industry will drive the Vanadium ore mining market. Asia-Pacific is expected to hold the largest vanadium ore market share. Major players in the vanadium ore market include AUROX RES., Atlantic, Treibacher Industrie AG., Essel Mining, Tremond Alloys & Metals Corp., Globe Specialty Metals, Inc., Largo Resources, YELLOW ROCK RES.
Learn More On The Vanadium Ore Market By Requesting A Free Sample (Includes Graphs And Tables):
https://www.thebusinessresearchcompany.com/sample.aspx?id=2024&type=smp
JOHANNESBURG, Jan 11 (Reuters) - South African power cuts worsened on Wednesday as struggling state utility Eskom said it would extend its worst-ever outages until further notice.
The "Stage 6" power cuts mean six to eight hours a day without power for most South Africans and require up to 6,000 megawatts (MW) of capacity to be shed from the national grid.
They are a major source of public frustration with the governing African National Congress party, whose support among voters is sliding, and a brake on economic growth in Africa's most industrialised nation.
Eskom has a nominal generation capacity of roughly 46,000 MW, but on Wednesday more than 23,000 MW of that was offline because of breakdowns or planned repairs.
Eskom said in a statement that 11 of its generators had suffered breakdowns since Tuesday morning.
The beleaguered utility supplies the vast majority of South Africa's electricity, relying mainly on an ageing fleet of coal-fired power stations that are unreliable and prone to faults.
The country witnessed more than 200 days of power cuts in 2022, the most in a calendar year, and the situation could get even worse in 2023.
Since taking office in 2018, South African President Cyril Ramaphosa has been trying to reform debt-laden Eskom to make it more efficient but progress has been slow.
Eskom CEO André de Ruyter submitted his resignation last month, making him the 11th boss to leave the company in just over a decade.
https://www.reuters.com/business/energy/south-african-power-cuts-worsen-eskom-extends-worst-ever-outages-2023-01-11/
It has not got the capacity to produce 32 million litres of electrolyte they have simply installed the concrete foundations to enable the production of such a capacity if ever that kind of demand came on stream in future years.
Stop telling lies.
They have installed the capacity to produce 800 litres of electrolyte per annum - and FM has publicly stated that he expects even ramping the plant up to that kind of volume will take several years.
They also do not have the anything like the capacity to supply the volumes of V required for processing to electrolyte on top of supplying their existing customers in the steel industry.
For the foreseeable future they have openly stated that their policy is to bring a halt to the Vanadium processing expansion, the priority now to strengthen the balance sheet. Which, with the Debt repayment dare due later this year, is vitally required.
Also your recent ramping claim:-
“Australian renewables developer North Harbour Clean Energy will team with European battery energy storage systems supplier CellCube to establish a vanadium redox flow battery manufacturing and assembly facility in Australia with a projected capacity of up to 1 GW/8 GWh per annum.”
That is not the truth, CellCube have merely agreed to doing a feasibility study into the concept - that is all.
Stop telling lies.
@ Phimx, the difference between a full blown VRFB manufacturing facility and just a battery assembly plant - perhaps?
Both options are (or were!) - mentioned as being explored for S.A. The outcome of the joint BMN/IDC feasibility exercise - after invites were sent out to all the main major players in the industry - was expected to be available around this time last year. Nothing heard since.
“ South Korean flow battery company H2 has raised $18m and is constructing a 330MWh VRFB factory”
Great to have ambition, but think they’ll need to raise a few hundred million $ more to complete the project. Pretty much as Enerox will have to - if they’re going to follow through with plans to increase to a 150MWh manufacturing capacity. But with Enerox - maybe to start with- a 30MWh annual manufacturing capacity - set up in S.A. would be sufficient to supply several mini- grid projects!?
Enerox wants to later expand to “at least” 150MW / 600MWh – 1,200MWh by 2025, in a market which has been earmarked for significant growth by others including another vanadium producer Largo Resources which said earlier this year that it wants to launch its own VRFB products within 18 months and that demand for vanadium is rising on the back of “growing interest” from the battery sector.
https://www.energy-storage.news/vanadium-producer-bushveld-invests-in-scale-up-of-enerox-flow-battery-manufacturing/
And maybe springing from that - increased capacity could be afforded to build a capacity to enable a VRFB supply to some of the other - over 50 countries that make up the African continent - that are also desperate for renewable energy/BESS solutions.
All on the back of vastly reduced shipping costs! Maybe why the ELZ electrolyte plant is located right next door to the port!
Also still waiting to hear the results of this exercise which seems to have disappeared from the agenda!
https://www.bushveldminerals.com/cool_timeline/idc-agreement/
The BMN consortium injected $30 million to expand Enerox’s CellCube manufacturing capacity to 30MWh. That expansion was supposed to be completed by now, although in line with normal BMN practise nothing has been announced.
Dunno what the existing capacity of Enerox was before that $30 million investment, but whatever batteries they produced could only have been small stand alone’s. They also announced, at the time, that they hoped to eventually step up to around 150MWh manufacturing capacity. Going on how much it costs to get to a paltry 30MWh capacity…. something seems to be a tad out of true!
The V rises in 2018 were more to to do with perceptions that new higher quality standards of steel production the Chinese government were implementing - would result in a catastrophic world wide shortage of Vanadium. It never happened, and so the normal range of V prices eventually resumed. Alongside that - Golden Summit bought 65 million BMN shares and there was an assumption that other major II’s were also going to jump on the BMN/rising tide band wagon big time - and also BMN announcing they were going to announce a dividend policy for dividend payments - were the topic of the day!
Much like now with the announcement that an announcement of BE being hived off would be announced - nothing much changes for the better as far as BMN’ comms strategy is concerned.
In line with the drop off in V prices - neither happened, no world wide shortage, no dividend and in fact Golden Summit bailed out completely. We’ll have to wait and see if the BE carve off goes down a different road. Due to BE selling out to MUST and the rto maturity date now extended to end of March - and it could even trundle on to much later in the year - it could be a while longer yet before we know what the future structure of the company looks like.
https://twitter.com/tsepomojapelo/status/1608476993942593545?s=20&t=38Il37Ht4_sWSIapI9afpw
Maybe, but for such a unique commodity such as this, imo, that order will be placed with a supplier and source that’s already in production with a fully tested, proven validated, certificated and insurable product - that you know doesn’t have potential to activate severe financial penalty clauses for late or even non-delivery to your BESS development.
It will come, but imo, only after all the testing, validation and insurance certification procedures that guarantee the product will last for 20 plus years- have been completed.