Vanadium is the little known mineral with a massive future.
The significant growth in vanadium demand rests with its critical role in large scale energy storage applications – namely, Vanadium Redox flow Batteries (VRB’s). Vanadium Redox Batteries use liquid energy sources to generate electricity, are non-flammable, environmentally friendly and have a long life-span.
Affordable large scale batteries are critical to a low carbon future, where renewable energy can be generated and stored to provide a steady base load power source. As we focus our energy into the production of vanadium for these large scale industrial applications, it will facilitate the development of large renewable energy projects the world over.
To date, the challenges with solar and wind energy projects is the unreliability of power supply during off-peak times caused by the inability to store excess energy. However, a large scale storage solution changes the energy mix, and makes renewables a large part of a lower carbon future.
With emerging renewable energy storage industry and steel demand from the global infrastructure boom, we will see the demand for vanadium continue to grow significantly over the coming years.