Primary commercial production of vanadium electrolyte does not yet exist. Vanadium electrolyte remains expensive and in short supply which has long inhibited commercialization of vanadium based energy storage. It is VanadiumCorp’s position that current industry production methods are unsustainable due to limited recovery and high carbon footprint which explains why very few resources are verified as economic. Historic vanadium pricing is a boom and bust story. In each cycle the industry rapidly expands production to take advantage of supply shortage and high pricing and subsequent overproduction results in oversupply. Most vanadium producers cannot sustain a market price lower then USD$6/Lb vanadium pentoxide, resulting in sporadic mine closures. In previous cycles price volatility was a direct function of the steel industry that both produced and consumed the majority of global vanadium. These cycles were detrimental for vanadium batteries that are most sensitive to vanadium price spikes. VanadiumCorp is focused on solving these significant market challenges with a new sustainable production method that could establish vanadium electrolyte as an official commodity with consistent quality standards. This is also a substantial market opportunity as all energy storage technologies are focused on driving down capital costs to facilitate the future electrification of the world. Renewables for example are an exponentially growing market requiring multi gigawatt energy storage made possible with sustainably produced vanadium.
Vanadium Electrolyte derived from VanadiumCorp-Electrochem Technology “VEPT” is directly and efficiently recovered from primary feedstocks such as magnetite/VTM using a primary chemical method. VEPT has an extremely high tolerance to metallurgy and composition of feedstocks and can also blend higher vanadium grading secondary sources such as fly ash (oil waste) to increase output capacity. The current industry currently relies on producing vanadium electrolyte by conversion methods from impure vanadium pentoxide powder. This results in substantial additional cost factors attributed to impurity removal, purification costs, testing required due to absence of standardization and availability, transport, shipping and handling, tariffs and jurisdictional risk as most global vanadium is derived from Chinese and Russian sources. Conversely, VEPT is modular and scalable to market or source and can be located virtually anywhere.