Sparton Resources Inc.: VRB Energy Solutions Inc. Announces New and Improved Vanadium Battery, Management Changes, New Beijing Government Grant Funding
Sparton Resources Inc.: VRB Energy Solutions Inc. Announces New and
Improved Vanadium Battery, Management Changes, New Beijing Government
Grant Funding
TORONTO, Aug. 25, 2020 -- Sparton Resources Inc . ( TSXV.SRI) ("Sparton" or the "Company") is pleased to announce
that VRB Energy Solutions Inc. (“VRB”) reported, on August 23, 2020, that it has produced a more efficient 3 rd generation
vanadium battery and appointed their Chief Technology Officer, Dr. Mianyan Huang, as the new company CEO.
Also announced, was the recognition of this new technological advance by the Beijing Government Committee for High
and New Technology Development which awarded significant grant funding to VRB Energy for its leadership in energy
storage products and technology innovation.
Gen3 System Update
VRB has completed testing of a new cell stack design that will be an integral part of its next generation Gen3 product. The
patented innovation yields a 30% improvement in current density and is based on use of VRB Energy’s proprietary in-house
membrane and bipole materials, as well as advancements in electrode and cell frame design optimization. These units will
have a smaller footprint and achieve up to a 10% increase in overall efficiency with lower costs for VRB customers. Dr. Huang
noted that this and many other improvements will enable VRB to deliver a complete energy storage system for less than
forecasted lithium-ion battery pricing, and with 15-40% better levelized cost of energy (LCOE) performance.
New CEO
VRB’s board of directors has named Dr. Huang as its new CEO, effective July 1, 2020. Dr. Huang, currently serves as
President of VRB Energy China and as the VRB Chief Technology Officer, as well as on the board of directors He is
recognized globally as a leading expert in vanadium flow battery technology. He has over 20 years of experience in the
industry, with 12 key flow battery material and system design patents to his credit.
Dr. Huang succeeds John Wang, who is retiring from an active role, but who will remain as an advisor to the company. The
VRB Board recognized his achievements in building a strong VRB international presence on top of a rapidly growing energy
storage market in China. Sparton wishes him well in his future endeavours.
Since joining VRB Energy’s predecessor as technology founder in 2007, Dr. Huang has led a team of scientists and engineers
in developing multiple innovations, including a proprietary membrane material that outperforms other commercially available
membranes in terms of both cost and efficiency. He has also established outstanding relationships with developers and
owners of many large scale energy storage projects in China, and this has established VRB Energy as the leading contender
for multiple 100 MW-class projects scheduled under China’s infrastructure investment program, which is being accelerated as
part of post-COVID economic stimulus.
Sparton is delighted with this progress and once again commends the VRB staff and management for continuing to advance
VRB’s Gen3 technology development. The company looks forward to continued progress under Dr. Huang’s leadership.
About VRB
VRB Energy is majority-owned by High Power Exploration (HPX), a North American, minerals exploration and technology
development company. HPX is a subsidiary of I-Pulse, a global leader in innovative commercial applications for pulsed power
technologies to address a broad and growing suite of applications across multiple industrial markets. I-Pulse is a private
company with offices in Toulouse, London, Tokyo and Vancouver.
Information regarding the Company’s interest held in VRB is as follows:
Sparton’s 89.8% owned subsidiary, VanSpar Mining Inc., registered in the British Virgin Islands, owns 9.8% of VRB which is
registered in the Cayman Islands, which in turn owns 100% of VRB Energy Systems, registered in China, which is the
vanadium flow battery manufacturer. Full information regarding the history of the VRB investment interest held by Sparton is in
its various news releases and available at www.sedar.com in its corporate filings.
The full VRB news was posted on August 23, 2020 and is available at www.GlobeNewswire.com and on VRB’s Twitter site
“@Think VRB”.
For more information contact:
A. Lee Barker, M.A Sc., P. Eng., P.Geol.
President and CEO
Tel./Fax: 647-344-7734 or Mobile: 416-716-5762
Email: [email protected] Website: www.spartonres.ca
Jim Stover Charles Ge
+1 604 648 3900
+86 186 7010 7777
Upcoming Events
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AUGUST 26 – 28, 2020 - BEIJING,
CHINA
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
Information set forth in this news release involves forward-looking statements under applicable securities laws. The forward-
looking statements contained herein include, but are not limited to, financings and transactions being pursued, and all such
forward-looking statements are expressly qualified in their entirety by this cautionary statement. The forward-looking
statements included in this news release are made as of the date hereof and the Company disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a result of new information, future events or
otherwise, except as expressly required by applicable securities legislation. Although the Company believes that the
expectations represented in such forward-looking statements are reasonable, there can be no assurance that such
expectations will prove to be correct and, accordingly, undue reliance should not be put on such forward-looking statements.
This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein.
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