- VanadiumCorp Resource is conducting the final stages of process optimization of its vanadium electrolyte Plant No. 1 in Québec
- The facility is functioning as designed and calibration electrolyte batches are running as expected
- The team called vanadium electrolyte production a key milestone for the plant and will provide electrolytes to develop the initial customer base.
- VanadiumCorp Resource Inc. opened trading at $0.045 at per share
VanadiumCorp Resource (TSXV:VRB) is conducting the final stages of process optimization of its vanadium electrolyte Plant No. 1.
The plant is in Val-des-Sources, Québec, at the Carrefour d’Innovation sur les Matériaux de la MRC des Sources and is functioning as designed. Calibration electrolyte batches are running as expected.
The team called vanadium electrolyte production a key milestone for the plant and will provide electrolytes to develop the initial customer base. Concurrently with the design and construction of Plant No. 1, the company’s technical unit prepared a scoping-level engineering study for a 4-million-litres-per-year plant. Once offtake contracts are secured, the scoping indicates that about 18 months of detailed engineering, procurement and construction is required to open Plant No. 2.
“VanadiumCorp will enter midstream into the Vanadium Flow Battery (VFB) supply chain with the production of vanadium electrolytes for Original Equipment Manufacturers (OEMs),” the company’s CEO, Paul McGuigan, P. Geo. Stated in a news release. “With the initial production of electrolytes from Plant No. 1, VanadiumCorp is on track to produce up to 350,000 litres of electrolytes annually, sufficient to store some 6.8 MWh of electrical energy in VFB installations.”
The electrolyte plant will also test the quality of the anticipated outputs from a Lac Doré pilot plant and reprocess electrolytes as needed.
VanadiumCorp Resource Inc. engages in the exploration and development of mineral properties in Canada. It also focuses on the development of vanadium redox flow battery technology in Germany. The company’s primary focus is on the Lac Doré and Iron-T properties in Québec that are prospective for vanadium, titanium and iron.
VanadiumCorp Resource Inc. opened trading down more than 11 per cent at $0.045 at per share.
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