VanadiumCorp is pleased to announce a non-brokered flow-through financing of up to $1 million and non-flow-through financing of up to $3 million for a total aggregate of up to $4 million. And announces new Quebec director.
VANCOUVER, September 30, 2019 – VanadiumCorp Resource Inc. (TSX-V: “VRB”) (the “Company”) is pleased to announce its plans to open a vanadium redox flow battery “VRB”,“VRFB” research and development facility in Karlsruhe, Germany, focused on next generation flow battery innovation.
“We are in detailed negotiations with potential manufacturers and end users. An engineering team of industry veterans will be led by our new Chief Technology Officer, Dr. Gilles Champagne.” commented, Adriaan Bakker, Chief Executive Officer of VanadiumCorp, “Focusing on sustainability and innovation for the last 12 years has led VanadiumCorp to what may facilitate the electrification of mobile applications such as vehicles, trains and ships. Innovation of the VRFB would also benefit the global energy storage market as it shifts towards long duration grid-connected systems.”
The Company would also like to clarify disclosure from September 26, 2019 published on www.batteriesinternational.com. VanadiumCorp has identified key improvements over current technology to increase the energy density of vanadium electrolyte as well as the power density of the conventional stack in a VRFB. VanadiumCorp intends to integrate vanadium directly into its own battery systems at a future date and is not currently producing VRFB’s. Further announcements regarding the future VRFB facility in Germany will be announced in the fourth quarter of 2019.
VanadiumCorp Resource Inc. is developing dedicated vanadium supply and disruptive technologies for energy storage with a 100% green mandate. More information on active projects and new vanadium energy technologies can be found on The Company’s website at www.vanadiumcorp.com
On behalf of the board of VanadiumCorp:
President and Chief Executive Officer
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