big new Sparton Announces That VRB Energy’s Vanadium Redox Battery System Has Been Selected for National Evaluation in China
TORONTO, July 14, 2021 (GLOBE NEWSWIRE) -- Sparton Resources Inc. (TSXV: SRI) ("Sparton" or the "Company") reported today that VRB Energy Inc. (“VRB Energy”) recently announced that it has been selected by the China State Power Corporation to install a 500KWh vanadium flow battery at the National Photovoltaic and Energy Demonstration Experimental Center (“the Center”) in Daqing, north-eastern China.
The Center has agreed to purchase a 125KW/500KWh all vanadium redox flow battery energy storage system from VRB Energy. The unit will be installed at the Center and used as an evaluation and demonstration unit to assist in developing the Peoples Republic of China’s (“PRC”) industrial energy storage policies and technical standards as part of the nation’s commitment to carbon neutrality.
The Center is PRC’s first integrated photovoltaic and energy storage evaluation site approved by the National Energy Administration. Its mandate is to produce systematic scientific research data on the practical operation of integrated photovoltaic energy generation and energy storage technology. The operating performance of the system will be fully evaluated and assist in setting technical standards and industry policies for future installations in the PRC.
The Center and the battery system are scheduled to be completed and fully functional by September 26th, 2021. Once operational, the Center will evaluate performance and promote technological innovation, and the application of scientific protocols within the entire energy storage industry chain. This work will include evaluation of the integration of photovoltaic/vanadium battery storage systems into diversified industries according to their power needs and provide guidance for new and larger scale photovoltaic and energy storage projects. Locally it will promote urban transformation and development, and the revitalization of the Daqing Area and all of north-eastern China.
VRB Energy has been selected for the project amongst several competitors and is being recognized as the supplier of choice in China for this evaluation of vanadium redox battery energy storage systems. It has advanced technology and the ability to deliver reliable, efficient, and safe installations.
“Sparton is delighted with this news,” stated Lee Barker, Sparton CEO. “This is a clear recognition that VRB Energy is the leading vanadium flow battery manufacturer in China and bodes well for new future sales. The new Gen3 system nearing completion in development will be another milestone in VRB Energy’s technical development journey.”
The Company owns a minority interest in VRB Energy through its subsidiary, VanSpar Mining Inc.
Information regarding the Company’s interest held in VRB Energy is as Follows:
Sparton’s 89.8% owned subsidiary, VanSpar Mining Inc., registered in the British Virgin Islands, owns 9.8% of VRB Energy which is registered in the Cayman Islands, which in turn owns 100% of VRB Energy Systems, registered in China, and is the vanadium flow battery manufacturer. Full information regarding the history of the VRB Energy investment interest held by Sparton is in its various news releases and available at www.sedar.com in its corporate filings.
For more information contact:
A. Lee Barker, M.A Sc., P. Eng.
President and CEO
Tel./Fax: 647-344-7734 or Mobile: 416-716-5762
Email: info@spartonres.ca Website: www.spartonres.ca