U.S. Vanadium Expands Sales Agreement With CellCube for Up to 3 Million Liters/Year of Ultra-High-Purity Vanadium Redox Flow Battery Electrolyte
HOT SPRINGS, Ark., February 24, 2022 (Newswire.com) - US Vanadium is pleased to announce a greatly expanded purchase agreement under which Austrian-based Enerox, which sells vanadium redox flow battery ("VRFB") systems under its brand name CellCube, can purchase up to 3 million additional liters/year of US Vanadium's ultra-high-purity electrolyte over the next five years. The agreement marks a significant expansion of the initial purchase agreement between US Vanadium and CellCube for 580,000 liters/year of US Vanadium electrolyte, announced in September 2021.
The agreement is believed to be one of the largest such procurements of ultra-high-purity electrolyte known to have been secured by a VRFB electrolyte producer outside China. USV produces ultra-high-purity VRFB electrolyte at its recently expanded Hot Springs, Arkansas, production facility.
"This agreement reflects today's rapidly accelerating growth of the vanadium redox flow battery industry and of US Vanadium's ability to supply VRFB manufacturers with Made-in-America ultra-high-purity electrolyte," said US Vanadium CEO Mark A. Smith. "We look forward to supplying CellCube, and customers around the world, with the finest and highest purity VRFB electrolyte now available on the market."
Because of their nearly unlimited energy storage capacity, high efficiency, zero emissions, very long cycle lives, and relatively low cost of available electricity on a lifecycle basis, VRFB energy storage systems are enabling consumers to utilize renewable energy systems for 100% of their actual power needs without having to rely on renewable energy credits and other accounting offsets.
US Vanadium recently expanded its ability to produce ultra-high-purity electrolyte production capacity at its Hot Springs, Arkansas, facility to more than 4 million liters per year. US Vanadium's electrolyte is the highest purity electrolyte produced anywhere in the world today. Ultra-high-purity electrolyte helps to increase the performance and efficiency of VRFB battery systems.
In addition to producing ultra-high-purity electrolyte, US Vanadium can also recycle spent electrolyte from VRFB systems at a 97% vanadium recovery rate.
VRFB batteries are rechargeable batteries that take advantage of the fact that vanadium ions in different oxidation states can efficiently store chemical potential energy. VRFBs allow for an almost unlimited energy capacity, can be discharged to very high percentages without damage, have very long cycle lives (at least 15,000-20,000 charge/discharge cycles), and can remain unused for long periods without permanent effects to the system.
US Vanadium produces the world's highest purity V2O5, V2O3, and downstream vanadium chemicals including VRFB electrolyte by recovering contained vanadium from a variety of post-industrial waste streams, which underscores US Vanadium's commitment to maximizing sustainable practices in its operations.
More information on U.S. Vanadium, and vanadium technologies in general, can be seen on U.S. Vanadium's website: https://www.usvanadium.com.
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Contacts:
US Vanadium, Jim Sims, js@usvanadium.com, +1 (303) 503-6203
About U.S. Vanadium LLC
U.S. Vanadium produces and sells a range of specialty vanadium chemicals, including the highest-purity vanadium pentoxide ("V2O5") in the world and ultra-high-purity electrolyte for vanadium flow batteries from its flagship facility in Hot Springs, Arkansas USA. The company is comprised of global leaders and investors in specialty chemicals and strategic materials, including in the mining, processing, purification, and sales and distribution of vanadium specialty chemicals. For more information, please go here: https://www.usvanadium.com/.
Source: US Vanadium LLC
