Energy storage news: Vanadium solid-state battery (VSB)
https://www.juniorminingnetwork.com/junior-miner-news/press-releases/1314-tsx-venture/phnm/142363-phenom-signs-mou-with-japanese-vanadium-solid-state-battery-company.html
Excerpt
Vancouver, British Columbia--(Newsfile Corp. - May 31, 2023) - Phenom Resources Corp. (TSXV: PHNM) (OTCQX: PHNMF) (FSE: 1PY0) ("Phenom" or the "Company") is pleased to announce that it has signed a Memorandum of Understanding (MOU) to gain a 5% equity interest in a private Japanese battery company, that is advancing its revolutionary fast charging low-cost vanadium solid-state battery (VSB) business world-wide.
The non-binding MOU describes the principles and proposed terms and conditions of an Off-Take Agreement between MK Plus Co., Ltd. (MK Plus) and Phenom whereby Phenom will commit to providing 20% of its future Carlin Vanadium Project production concentrates to MK Plus at fair market value. In exchange for this commitment, MK Plus will, on signing a Definitive Off-Take Agreement, issue to Phenom 5% of MK Plus's issued and outstanding shares. Phenom's interest will be non-dilutive until MK Plus's market valuation exceeds US$500 million after which Phenom's interest in MK Plus may be diluted but will not fall below 3%.