Topical: It’s all about vanadium https://www.paidpromotionalmessages.com.au/companies/news/979891/surefire-resources-locks-eyes-on-strategic-battery-metal-vanadium-amid-wa-project-development-shares-jump-979891.html
Surefire Resources locks eyes on strategic battery metal vanadium amid WA project development, shares jump
It’s all about vanadium
As the green energy revolution comes to the fore, battery metals like vanadium are taking the spotlight.
While this element has previously found its home in the steelmaking market, interest in vanadium is growing as a power storage vehicle.
Vanadium redox flow batteries (VRFBs), for example, use a liquid vanadium electrolyte to store electrical charge.
While VRFBs are, at present, more expensive up-front than lithium-ion batteries, they can work out cheaper on a full-cycle use over 20 years and 35,000 charge/discharge cycles.
What’s more, VRFBs don’t degrade over time, can discharge 100% of their stored power and the vanadium electrolyte is fully recyclable.
Research firm Corporate Connect published a vanadium paper in November 2021, considering whether vanadium could emulate lithium’s rise to fame.
“The rise and then recent slowdown in China’s steelmaking have seen vanadium prices double since last year and retrace around 25%,” the report explained.
“New demand for high-grade vanadium is also starting to tighten the vanadium market. China has announced over 1,500 megawatt-hours of VRFB projects, which amount to more than 8,200 tonnes of vanadium.
“This equates to around 7% of the world’s vanadium demand, and roughly 30% of high-grade vanadium supply. In aggregate, similar plans are being finalised in Europe, Japan, Brazil and South Africa over the next couple of years.
“Clearly, there is need for more high-grade vanadium production that also meets sustainability credentials to assist the energy transition to lower emissions.”