Margaret Lake Announces New Vanadium Redox Flow Battery Models
Margaret Lake Announces New Vanadium Redox Flow Battery Models
VANCOUVER, BRITISH COLUMBIA / March 9, 2020 / Margaret Lake Diamonds Inc. (“Margaret
Lake” or the “Company”) (TSX.V: DIA / FKT: M85 / OTC: DIAFF) is pleased to announce
specifications for four models of its Vanadium Redox Flow Battery energy storage systems
(“VFRB-ESS”), and is now in pre-sales and booking orders for projected 2021 delivery. The
Company encourages interested system integrators and utilities to contact them for further
details.
“We believe our systems will appeal to a wide variety of system integrators and utilities in the
renewable energy and power distribution markets, as they have been designed for commercial,
industrial, and utility scale operations,” said Jared Lazerson, President and CEO of Margaret
Lake.
The Company’s models now offered for pre-sales are the 25kW / 100kWh and 50kW / 200kWh
long life modules in 20ft and 40ft container format as well as scalable 5kW and 10kW indoor
and outdoor modules. The Company offers utility level modules of 3.6MW / 14.4MWh.
Storage systems are available in 4 and 8 hour capacities. The energy storage systems have
been designed for the commercial, industrial, and utility scale storage for renewables, peak
shaving, and infrastructure applications. Remote management and monitoring are available
for all systems.
VRFB Energy Storage Systems
ELECTRICAL DETAILS
Energy Capacity 100kWh
Nominal Power 25kW
Depth of
Discharge Allowed 100%
Inverter Capacity 25kW
Output Voltage : 415V/3phase/50Hz/60Hz
Cycle Life ＞15,000
KORID
WARRANTY
DC-DC Efficiency 78%
Figure 1 - Inside view of 20 foot
container
Cycle Efficiency 75%
AC-DC-AC
Efficiency 70%
ENVIRONMENTAL
Operating
Conditions 0~50℃, @ 90% humidity
Enclosure Rating IP 54
Electrolyte Rating Non - Flammable
Factory
The Company is currently reviewing and completing studies on a limited number of locations
in the North East US for manufacturing. Factory footprint, process flow, equipment and
personnel requirements have been completed for an initial Vanadium Flow Battery Factory with
ELECTRICAL DETAILS
Energy Capacity 200kWh
Nominal Power 50kW
Depth of Discharge
Allowed 100%
Inverter Capacity 50kW
Output Voltage : 415V/3phase/50Hz
(60Hz)
Cycle Life ＞15,000
KORID WARANTY
DC-DC Efficiency 78%
Cycle Efficiency 75%
AC-DC-AC Efficiency 70%
ENVIRONMENTAL
Operating Conditions 0~50℃, @ 90%
humidity
Enclosure Rating IP 54
Electrolyte Rating Non - Flammable
Figure 2 - 40Ft Container Format
an annual output capacity of 50MW and 200MWh of storage.
Battery Design
The proprietary Vanadium Flow Battery has been developed, tested and is patent protected.
The flow battery design allows for limitation of storage only based on the capacity of the
electrolyte tanks versus the fixed capacity of lithium-ion. The battery is non-flammable and
non-explosive. There is no degradation as a result of cycling, partial charging, or time with a
100% depth of discharge and projected lifetime of 20 years. Battery efficiency is currently
rated at up to 80%. The battery is scalable into the MW-range through simple parallel
connection of multiple units. The systems are shipped in self-contained weatherproof and
securely protected housing. The systems can be managed and maintained by remote or online
maintenance through intelligent battery management. Temperature management and climate
controlled containers eliminates weather impact on energy efficiency.
The battery is composed of four primary components: electrolyte tanks, cell stacks, power
conversion system (including control system, communications, inverter, electrical wiring, etc.),
and pumps / balance of plant equipment (Figure 4). The systems are designed for
containerized deployment in twenty or forty foot containers. The 40ft design has a capacity of
100kW output, 400kWh storage.
Figure 4
Cell Stack
To date four cell stacks have been manufactured including 2.5kW, 5kW, 10kW, and 25kW
(Figure 5). KORID has developed and is currently testing a 50kW cell stack for high usage
industrial and gird scale utility and renewables applications.
Figure 5
Grid Scale Mass Storage
Designs have been completed for a 3.6MW output system (Figure 6) to meet the demand for
grid scale applications. There are a variety of applications to support both renewables and
existing infrastructure as well as energy security. Placing batteries at substations or near high
demand areas reduces need for new infrastructure such as transmission lines, substation
capacity, and traditional power plants or hydro dams. The power is often wasted in the night
only for a lack of battery capacity. Grid scale energy storage systems allow for charging at
night during very low demand times (off peak) and release that energy during the day during
peak demand reducing the need for new transmission lines or power plants. This both
increases overall efficiency and provides backup/standby power for energy security and a
robust and efficient energy infrastructure. The same concept can be applied to time of day
load shifting for renewables.
Figure 6
Joint Venture Transaction
For more information, refer to the Company’s news release dated January 23, 2020. This press
release refers to a joint venture to construct a factory (the “Factory”) in the United States for the
purpose of producing Vanadium Redox Flow Batteries and energy storage systems. The joint
venture is between the Company and KORID Energy of Korea; KORID is partially owned by DST Inc.
(KOSDAQ: 033430). There is a risk that the transaction will not be accepted or that the terms of
the transaction may change substantially prior to acceptance final acceptance by the TSX Venture
Exchange.
Remarks regarding the Joint Venture by Former Maine Secretary of Energy John Kerry and
former New York Governor George Pataki are available at https://youtu.be/KIre7TMNb5k .
About KORID Energy and DST Inc.
KORID Energy is partially owned by DST Inc., a publicly traded company listed on the KOSDAQ
Exchange in South Korea. It operates the following businesses: Automation Machinery, Mining
and Metals Development and Processing, along with other diversified businesses. Its products
and services include energy storage technologies, equipment for the automobile components
industry, food processing equipment, mineral development and processing, rental services,
and others. The company was founded on May 11, 1995 and is headquartered in Changwon-si,
South Korea. For more information visit www.ds-t.co.kr.
About Margaret Lake Diamonds
Margaret Lake Diamonds Inc. (TSX.V: DIA) is a Canadian technology and strategic metals
exploration company focused on construction of Vanadium Redox Flow Battery Factory in the
United States and Vanadium Exploration Globally. The Company continues to maintain an
interest in the Diagras Diamond property located approximately 50km from the Diavik and
Ekati Diamond Mines.
Contact Information
Jared Lazerson
President and CEO
Web: www.margaretlakediamonds.com
System Integrators Contact
Neil Foran
CFO
Neither the TSX Venture nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture) accepts responsibility for the adequacy or accuracy of this
release.
Forward-Looking Statements
This press release contains forward-looking information or forward-looking statements
(collectively "forward-looking information") within the meaning of applicable securities laws.
Forward-looking information is typically identified by words such as: "believe", "expect",
"anticipate", "intend", "estimate", "potentially" and similar expressions, or are those, which, by
their nature, refer to future events. The Company cautions investors that any forward-looking
information provided by the Company is not a guarantee of future results or performance, and
that actual results may differ materially from those in forward-looking information as a result
of various factors. The reader is referred to the Company's public filings for a more complete
discussion of such risk factors and their potential effects which may be accessed through the
Company's profile on SEDAR at www.sedar.com.