Key engineering work is planned to commercially develop next-generation vanadium redox flow-battery technology ('VRFB Battery') and high-energy-density electrolyte technologies for marine propulsion applications.
The MOU executed
The SPV will develop a next-generation redox flow-battery stack based on a breakthrough high-energy-density vanadium electrolyte that is specifically formulated for marine propulsion applications.
VanadiumCorp will contribute new flow-battery designs, a high-energy-density electrolyte formulation, manage research and development, and provide its network of manufacturing partners.
CONOSHIP will contribute marine engineering designs to integrate the more compact redox flow-battery into the propulsion systems of marine vessels and ships.
The SPV targets zero-emission shipping markets with next-generation redox flow batteries. Key advancements in energy density form a strong business case and stem from VanadiumCorp's research and development cooperation with CENELEST (
'Greenhouse gas reduction is exceptionally challenging for the shipping industry. The industry's 2050 climate goal of halving greenhouse gas emissions from 2008 levels can only be achieved with the accelerated construction of Zero-Emission Ships and novel solutions 'comments,
VanadiumCorp anticipates that the SPV project will come shortly and definitive agreements reached within Q1, 2021. The role of VanadiumCorp is to develop the main components of the VRFB system that include a battery stack of appropriate power size and an optimized electrolyte formulation of favorable energy density . VanadiumCorp will enlist its skilled partners in electrolyte production, VRFB Battery manufacturing and R&D.
The trilateral partnership will be in a strong financial position to implement an exciting development and growth strategy in 2021. Success contingent, the SPV could provide significant environmental and economic benefits. The new battery technology seeks the decarbonization of shipping routes and in-port ship movements. The next generation VRFB Battery design and the new high energy electrolyte solves the challenge of high-energy-density not met by conventional VRFBs. Solving the energy-density challenge allows the SPV designs to scale to large capacities, deliver energy without waste heat, and vastly extend energy storage beyond lithium-ion's typical 4-8 hour operating time.
About VanadiumCorp
Proven VRFB technologies improve renewable energy efficiencies by storing temporary energy surpluses and feeding them back into the electrical grid as required. VanadiumCorp also wholly owns one of the largest and metallurgically favorable vanadium mineral deposits in the world, located in mining-friendly
Contact:
Tel: 604-385-4489
Email: info@vanadiumcorp.com
Web: www.vanadiumcorp.com
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