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@Drt001 - Guesing 2 GWh of sales at 6 hour rating is 333 MW of installed storage. The materials used in the electrolyte appear to be cheaper than vanadium.
This is a big contract. Wish it was BE and Enerox with this kind of announcement.
Announcement from a year ago.. I agree - complex
https://uk.advfn.com/stock-market/london/bushveld-minerals-BMN/share-news/Bushveld-Minerals-Limited-Investment-in-Enerox-Gmb/82979055
@LB21 Thanks for the in depth link showing an exciting study in which Enerox took an integral part. The following is a quote from the bushveld web site "During the second half of 2020, CellCube secured 13 MWh in signed orders for its systems. Bushveld Energy has an indirect interest in CellCube of 25.25 per cent, through VRFB Holdings Limited, which owns 50% interest in Enerox Holdings Limited “EHL”. EHL holds a 100 per cent interest in CellCube." What secured interest does BMN hold in Enerox and is this still being contested in court?
I agree - the point being, all electrical systems should be engineered to fail without causing harm to life and the environment. Building LI grid scale batteries have failed at this basic design criteria with multiple runaway toxic fires. IMO the cost to correct this, will make the LI grid installations cost prohibitive.
From the company BMN web page Other Investments. Lemur 30 MW expandable to 60 MW coal plant in southwestern Madagascar, 100% owned by BMN. This holding and development, IMO, makes potential rebranding of BMN as a "green" investment for large funds hard to reconcile. It sounds like a much needed project, but other VRFB companies do not have ownership in coal generation to explain to large "green" investors. For transparency, the generation part of this project, should be listed with Bushveld Energy, not Bushveld Minerals. IMO, I hope they find a buyer for this project.
The startup capacity of the electrolyte plant is 200MWh per year (for example) / 6 hours of storage discharge at a total VRFB rated MW size = about 33 MW of VRFB capacity. Example (about 66 - .5 MW VRFB's rated at 6 hours of discharge capacity = about 200 MWh) This can be matched with different size VRFBs and different lengths of discharge times at full power output. Maybe a coincidence, but this aligns well with the initial upgrade of Enerox to produce 30 MW of VRFb's per year on the initial upgrade. Both plants will increase capacity in the future and BE has 1st right of refusal to supply electrolyte to Enerox. Makes a good case for BE concentrating on the African micro grid scenario mentioned by @faramog earlier today. Also aligns with Vametco 1 MW 4 hour micro grid storage currently under construction as a great advertisement.
The expansion of Enerox to 30 MW / year going to 150 MW /year along with the initial electrolyte plant capacity of 200 MWh / year are great and both need to happen ASAP. But these numbers are not big when referencing the multiple storage projects in the 25 MW to 500 MW and upward. Anything in the GW size totally dwarf these plants. Point of reference - many transmission to distribution substations are in the 25 MW to 50MW and larger range and they are everywhere.... So with the probable demand for VRFBs exponentially increasing, IMO BMN/BE need to go bigger with outside funding/partnerships, unless they want to stay in the small micro grid and limited grid storage end of this future market. Definitely a crossroad period.
Hard to emphasize the vertically integrated Green part of BMN while plans are underway for Lemur to become a 60 MW coal fired producer to southwestern Madagascar. (from BMN web page, other investments) Not saying this is not the best and fastest way to add needed capacity in this area, BMN wholly owning this project just opens BMN to questions other VRFB linked companies do not have to answer. A lot of investment groups will not invest in companies with coal holdings...
Loudspeaker -. The redesign of the stack is great for functionality, and cost reduction. In the article they never referenced vanadium, only "the electrolyte" and the ability to fully recycle it and call them "Redux Flow Batteries". Hope it is vanadium.
@Pickler - Like any commodity that cycles in availability, demand, and price, Bushveld mining and energy is finding itself in the perfect storm to create big gains in the SP. I hope your letter spurs actions by the BOD to correct this drag on the SP while the all the variables are coming together for what should be a huge positive re-rate. Thanks
@ Bassguy I agree with the timing issue and even the initial capacity of the electrolyte plant. And while the expansion of Enerox is also excellent, 30MW per year VRFB manufacturing capacity looks small when looking at all the proposed storage projects, unless they are primarily focusing on the micro grid installs.
IMO the later expansion plans for both will need to start sooner than later..
@ Bassguy I agree with the timing issue and even the initial capacity of the electrolyte plant. And while the expansion of Enerox is also excellent, 30MW per year VRFB manufacturing capacity looks small when looking at all the proposed storage projects, unless they are primarily focusing on the micro grid installs.
IMO the later expansion plans for both will need to start sooner than later..