Australian Vanadium is an early mover into the rapidly growing energy storage market with a vertical integration strategy focused on Vanadium Redox Flow Batteries.
As the demand for and implementation of renewable energy grows, so too does demand for solutions which can store this energy in order to regulate when it is used.
This market is growing rapidly around the world and there is significant investment in new and developing technology to best service this need.
Vanadium Redox Flow Batteries are fast becoming a preferred choice for suppliers and there are a number of companies worldwide which are commercialising this technology.
Vanadium Redox Flow Batteries have advantages over other systems due to their;
- Lifespan of 20 years
- Immediate energy release
- Excellent charge retention (up to 1 year)
- Suitability for grid connection
- Ability to discharge 100% with no damage
- Key feature of using only one element in electrolyte; V2O5.
Vanadium Redox Flow Batteries employ vanadium ions in different oxidation states to store chemical potential energy.
The batteries have unlimited capacity simply by using larger and larger storage tanks. They can also be left completely discharged for long periods with no ill effects. Recharging is simple, even when there’s no power source, simply by replacing the electrolyte.
Vanadium Redox Flow Batteries are expected to take up about 30 per cent of battery storage capacity growth. As outlined below, this represents a significant increase in demand for vanadium.