VANCOUVER , Nov. 21, 2016 /CNW/ – VanadiumCorp Resource Inc. (TSX-V: “VRB”) (the “Company”) is pleased to announce it has joined Energy Storage Canada (ESC). The ESC is the only energy storage industry association in Canada . ESC was founded in 2012 as a subgroup of the Corporate Partners Committee under the Smart Grid Forum.
Storage is the key to making renewable energy a fully competitive component of any electrical grid. It can make our grid cleaner and more efficient, for the benefit of all consumers – large and small, urban and rural. There is the opportunity, in Canada , to become world leaders in developing energy storage technologies like the vanadium redox flow battery (VRB, VRFB).
VanadiumCorp is launching many initiatives relating to the development of high purity vanadium required for the rapidly growing application of the VRFB. VRFBs are internationally recognized as proven and commercialized energy storage technology. Since 1984, VRFB technology has evolved parallel to lithium and has increased in energy density for larger applications. Grid scale long duration energy storage is necessary for the emerging need of grid security and modernization. In recent years, the VRFB and high density vanadium lithium batteries have also emerged in applications such as electric vehicles (EVs). There are many advantages of using the single element vanadium in the electrolyte (VE) of a VRFB. The contained VE never degrades, loses charge or emits any heat or emissions. Without any need for disposal, the reusable VE defines the VRFB as 100% green, sustainable energy storage. The VRFB also outperforms most competing technologies to store the intermittent and disruptive nature of renewable energy. The are very few economical sources of VE globally. Developing stable, low cost supply of VE is critical as VE represents ~42% of the cost of the VRFB system as the core component.
Members of ESC share the common mission to advance the energy storage industry in Canada through collaboration, education, policy advocacy and research. The ESC takes an unbiased view towards technology and is supported by the contributions of our active members. Energy Storage Canada works closely with other energy storage alliances and associations to push the industry forward.
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