Exploration partners for vanadium mineral to recharge looming shortage
Vanadium is another material in lithium-based batteries that is also highly demanded. Its addition is known to promote better energy storage and is termed as “supercharged” batteries. In an Audi A2 electric car developed by DBM Energy and German utility Lekker Energie that is running on a lithium-vanadium battery, a distance of 600 kilometers was completely covered in just a single charge. Vanadium batteries were able to penetrate the marketplace and Vanadium Flow Batteries (VFB) are considered as one of the promising energy storage systems. They have an excellent charge and discharge mechanism that can provide electricity instantly, prevent self-discharging while idle and generating heat when charging, can charge and discharge simultaneously and has a charging cycle of more than 10,000.
However, the success of the commercialization of VFBs entirely depends on the certainty of price and supply of high-purity vanadium which is at more than 98.4% for battery application. This is an emerging opportunity for vanadium producers to supply this increasing demand for electric vehicle batteries. With the pressure from both government mandates and the commercial sector and limited vanadium supply on the horizon, a vanadium shortage is impending. According to the United States Geological Society (USGS), the annual worldwide production and reserves of vanadium last 2009 was near 63 million tons which is equivalent to 112,000 tons of V2O5. Additionally, China, representing 40% of the world’s vanadium supply, has switched from being the world’s largest producer to the world’s largest consumer which greatly affected the supply chain.
Partners are now needed for the discovery and exploration of vanadium for the shooting up demand for electric vehicle batteries. StrategX Elements Corporation is ready to commit to becoming a strategic partner in the discovery and sourcing of critical mineral resource deposits such as vanadium. StrategX Elements Corporation envisions a greener globe through their efforts on responsible mineral discovery for clean energy sources.
Reference:
"About Vanadium | Next Source". 2022. bit.ly. https://bit.ly/3rCekTC.