Maxtech Focuses on Vanadium Asset Acquisitions
Date: Nov 27, 2018
Maxtech Ventures (CNSX:MVT, FWB:M1N, OTC:MTHEF) (“Maxtech” or the “Company”) announces that it is increasing its focus on vanadium assets across North and South America.
The Company is focusing on vanadium to be a catalyst in its growing portfolio of strategic metals. Maxtech is presently reviewing multiple vanadium opportunities across North and South America and building on an already significant set of vanadium exploration assets including those in Quebec, Canada, Bahia, Brazil, along with agreements in place in Utah, USA.
Vanadium is becoming a more prevalent alternative in battery power storage. Due to the size and weight required, vanadium redox batteries are expected to be well suited to grid storage applications and are expected to complement the growth in grid scale wind and solar generation capacity. Additionally, according to the China Iron and Steel Research institute (CISRI), new rebar standards should see China’s vanadium metal consumption increase by 30% over the next two years.
