Update on U.S. Vanadium LLC Vancouver, British Columbia--(Newsfile Corp. - September 14, 2021) - Elysee Development Corp. (TSXV: ELC) (FSE: QLDN) is pleased to provide an update on exciting new developments at U.S. Vanadium LLC ("USV"), Elysee's largest individual investment.
During September 2021, USV has announced:
- a US$2.1 million expansion of its Hot Springs, Arkansas production capacity for ultra-high-purity electrolyte used by grid-level vanadium flow batteries ("VRFB");
- the acquisition of a materials processing facility in Benton, Arkansas that will enable the Company to more efficiently grind and roast vanadium feedstock in preparation for processing at the company's facility in nearby Hot Springs, AK where it is producing a wide variety of vanadium-based products, including high-purity vanadium pentoxide and the world's highest-purity vanadium oxides for use in VRFB's.
- a purchase agreement for 580,000 liters of electrolyte by Austrian VRFB manufacturer and energy storage provider Enerox GmbH, which sells its systems under its brand name CellCube; and
- the company secured a substantial 5-year supply agreement for high-quality vanadium feedstock from a large multinational company based in India.
About US Vanadium:
USV is a private company that produces vanadium-based products by recovering contained vanadium from a variety of post-industrial waste streams, which underscores USV's commitment to maximizing sustainable practices in its operations. USV's recycling of waste streams also allows for the production of high-purity vanadium products with a very small carbon footprint as compared to primary vanadium mining operations. For more information on USV please visit www.usvanadium.com.
To date, Elysee has invested a total of $ US2.1 million dollars in USV, holding an interest of approximately 4.4% on a fully diluted basis.
For more information on Elysee Development Corp. please visit our web site at www.elyseedevelopment.com.
https://www.newsfilecorp.com/release/96369/Elysee-Provides-Update-on-U.S.-Vanadium-LLC