VanadiumCorp joins the Vanitec Energy Storage Committee (ESC) and Provides the Schematic Diagram of the Integrated Technologies
VanadiumCorp joins the Vanitec Energy Storage Committee (ESC) and Provides
the Schematic Diagram of the Integrated Technologies
VANCOUVER, Nov. 30, 2017 /CNW/ - VanadiumCorp Resource Inc. (TSX-V: "VRB") (the "Company") is
pleased to announce that it has joined the Energy Storage Committee (ESC) of Vanitec Limited
("Vanitec"). Vanitec brings together research organizations and manufacturers of products that contain
vanadium with companies involved in the mining and processing of the metal. The use of vanadium in
energy storage is growing rapidly. VanadiumCorp brings the advantage of strategic vanadium resources
and provides a schematic diagram showing the potential industrial and environmental benefits of
integrating vertically the jointly owned VanadiumCorp-Electrochem chemical technology with the
electrowinning of metallic iron patented worldwide by Electrochem Technologies & Materials Inc.
("Electrochem").
"The ESC is the leading platform addressing industry challenges through research and collaboration and
fostering use of vanadium in energy storage technologies that are more efficient and cost-effective than
competing technologies. Renewable energy is intermittent and challenging for many types of batteries to
store efficiently. Vanadium has the advantage of buffering and storing energy without generating heat,"
said Adriaan Bakker, President and CEO of VanadiumCorp. "VRFBs outlast lithium batteries many times
over, and the main component (electrolyte) can be reused indefinitely. Lithium-ion batteries are ideal for
small applications that require high power output for a few hours. When reliable power is needed for
longer duration, VRFBs provide a superior alternative scalable to utility size applications."
Management of VanadiumCorp and Electrochem recently attended the 93rd Vanitec Energy Storage
Committee (ESC) Meeting in London UK and met separately with global end users collaborating with
VanadiumCorp.
In addition to battery manufacturers present at the 93rd ESC meeting, a number of vanadium producers
and developers sent delegates to attend the ESC. A key area of discussion at the ESC meeting was
leasing vanadium electrolyte, which highlighted vanadium as the largest cost component of the vanadium
redox flow battery (VRFB) and how supply and demand shocks create significant volatility which could
impact economic viability of VRFBs going forward. As vanadium electrolyte does not degrade, and the
VRFB typically last longer than 20 years, a viable solution could be to lease the electrolyte to end users.
ESC meeting presentations are all available on the Vanitec website at www.vanitec.org for further details.
Vanitec website states, "Vanadium's role in the growing energy storage is expected to increase
dramatically over the coming years. Large scale deployments of vanadium redox flow batteries are
underway across the globe, with many others being planned or under construction. Ensuring a strong
supply of quality vanadium products will be key to the uptake of energy storage for large amounts of
power over a long duration. This will supplement the traditional markets for vanadium as the
requirements for high quality steel continue to increase. Vanitec is the only not-for-profit international
global member organisation whose objective is to promote the use of vanadium bearing materials. Its
members include all the world's major vanadium producers as well as vanadium users and those involved
in vanadium energy storage. Traditionally used to strengthen steel, vanadium's use in energy storage
has been growing over the past few years and is seen as the preferred choice when long-duration energy
storage is required. Where lithium provides power, vanadium provides energy."
Preceding further energy storage related Company announcements; The Company provides in the
meantime the schematic diagram of VanadiumCorp-Electrochem and Electrochem integrated
technologies and pictures of produced materials from trial production reactors on the VanadiumCorp and
Electrochem websites. VanadiumCorp Electrolyte (VE), iron products, vanadium compounds, titania and
silica by-products are available for third party testing and qualification by end users and government
organizations. Contact VanadiumCorp or Electrochem directly through www.vanadiumcorp.com or
www.electrochem-technologies.com for more information.
ON BEHALF OF THE BOARD
Adriaan Bakker, President and Chief Executive Officer
Neither the 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: This news release contains forward-looking statements, which
relate to future events or future performance and reflect management's current expectations and
assumptions. Such forward-looking statements reflect management's current beliefs and are based on
assumptions made by and information currently available to the Company. Investors are cautioned that
these forward looking statements are neither promises nor guarantees, and are subject to risks and
uncertainties that may cause future results to differ materially from those expected. These forward-looking
statements are made as of the date hereof and, except as required under applicable securities legislation,
the Company does not assume any obligation to update or revise them to reflect new events or
circumstances. All of the forward-looking statements made in this press release are qualified by these
cautionary statements and by those made in our filings with SEDAR in Canada (available at
WWW.SEDAR.COM)
SOURCE VanadiumCorp Resource Inc.
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For further information: contact VanadiumCorp: By phone: 604-385-4489, By email:
[email protected], Website: www.vanadiumcorp.com
CO: VanadiumCorp Resource Inc.
CNW 19:00e 30-NOV-17