Issue link: http://resourceworld.uberflip.com/i/1190748
30 www.resourceworld.com D E C E M B E R / J A N U A R Y 2 0 2 0 Vanadium Redox Flow Batteries to fuel vanadium demand by Ellsworth Dickson W ith the increasing use of intermit- tent power sources such as wind and solar, vanadium redox (reduc- tion oxidation) batteries have proven they are an ideal solution for storing power. For remote applications, this means that electric power is available 24/7 and diesel generators with their constant need for fuel, a thing of the past. Vanadium Redox Flow Batteries (VRFB) are a well-established technology whereby large volumes of two vanadium-based liquid electrolytes are circulated through the power cells to generate electricity and store it in the two electrolytes that are sep- arated by a proton exchange membrane. The bi-polar plates in the battery are made of graphite. VRFBs are non-flammable, can be re-used tens of thousands of times and can be charged and discharged at the same time. After a VRFB is decommissioned, the vanadium is reusable. In addition, VRFBs offer nearly unlimited energy capacity by using larger electrolyte storage tanks. Currently, over 90% of vanadium is used to strengthen steel – adding 0.1% vanadium will double the strength of steel. However, success in developing vanadium redox flow batteries has opened up a new and quickly growing industry. According to a new report by Market Research Engine, the VRFB market is expected to exceed more than US $1.0 billion by 2024 at a CAGR of 8.3% in the given forecast period. According to the latest USGS report, there was approximately 73,000 tonnes of vanadium mine production in 2018. Secondary and by-product vanadium production is also underway. In Europe, Vanadium Pentoxide Flake 98% (V 2 O 5 ) sells for US $6.45/lb. Being a rather rare metal, the explora- tion side is important as VRFB technologies advance. Below is a selection of companies with vanadium interests. Blue Sky Uranium Corp. [BSK-TSXV; BKUCF-OTC; MAL2-FSE] has a 100% inter- est in the 250,000-hectare Amarillo Grande property along a 145-km trend in northern Argentina that hosts both uranium and vanadium. Vanadium values average 0.019% V 2 O 5 for a total of 11.5 million lbs in the Upper and Lower zones that are near surface and hosted in loosely consolidated sand and gravel suitable for easy open pitting. The current exploration program is targeting three high-priority areas with significant uranium and vanadium anoma- lies: namely, the Ivana West, a potential expansion of Ivana deposit, Ivana Central and Ivana North. Auger drilling and down-hole radiometrics in all three areas are underway. An IP survey has been completed. Up to 4,500 metres of reverse circulation drilling is planned. Elysee Development Corp. [ELC- TSXV], a diversified investment and venture capital firm, recently reported that US Vanadium Holding Company LLC, a private company in which Elysee holds approximately 15%, has now completed the acquisition from a leading Russian steel conglomerate of the only facility in the Americas that produces the world's highest purity vanadium pentoxide (V 2 O 5 ). Located in Hot Springs, Arkansas, the facility produces V 2 O 5 that is suitable for vanadium redox flow batteries. US