VanadiumCorp is on the board and back in the news again.
Date: Dec 12, 2018
As we head into Christmas the big news of the year, especially the last few months would have to be vanadium. Soaring prices and demand particularly in China through new standards on construction has caused the vanadium price to rise about 3 fold in 2018, currently at US$27.50/lb (China spot).
VanadiumCorp Resource Inc. (TSXV: VRB) is back in the news and have announced, alongside Electrochem Technologies & Materials Inc., that Ultra Power Systems Pty Ltd. have signed a Patent Option Agreement (POA) to purchase an exclusive license, of the VanadiumCorp-Electrochem Processing Technology (VEPT). VEPT describes a novel chemical process that addresses the recovery of vanadium, iron, titanium, and silica feedstock’s.
Ultra Power Systems plans to utilize the Australian license of VanadiumCorp-Electrochem Processing Technology to expedite construction of the world’s first dedicated vanadium processing facility in Australia. Ultra’s core objective is to directly integrate low-cost battery grade vanadium electrolyte into vanadium redox batteries from virtually any source in a fraction of the time and capital requirements of current vanadium extraction processes. The VEPT dramatically reduces emissions associated with vanadium extraction as well as substantially offsetting the operating cost through the production of valuable by-products. The resultant vanadium electrolyte has a minimal carbon footprint, is significantly cheaper, and offers an exceedingly lengthy usage life.
Adriaan Bakker, CEO of VanadiumCorp stated: “This agreement represents a new chapter for VanadiumCorp with the benefit of cash flow and a realistic commercialization pathway for VanadiumCorp and Electrochem’ s jointly developed green processing technology. Our vision to establish the most efficient and sustainable solution for energy storage is within reach years sooner than anticipated.”
