The global demand in renewable energy market is currently valued at USD 1.21 trillion and is expected to reach USD 3.60 trillion by 2030. In recent years, there has been a significant increase in the capacity of renewable energy sources, particularly in the solar and wind energy sectors. This growth has led to a rise in long-duration energy storage. Vanadium flow batteries (VFBs) are designed for long-duration energy storage (10+ hours) and cater to a market segment that other technologies cannot economically serve. The rapid expansion of renewable energy generation has created a growing need for long-term energy storage solutions.

Vanadium Flow Batteries (VFBs) are being widely adopted globally as they offer unmatched extended energy storage capacity for renewable energy projects. They are commonly used for energy shifting, including the overnight storage of wind energy, supporting power plants, and stabilizing electrical grids.

In the last two years, three-quarters of the currently installed VFBs were put into operation. Manufacturers of Vanadium Flow batteries are now facing challenges in obtaining vanadium electrolyte at stable prices for VFB deployment. To serve this market VanadiumCorp is entering downstream electrolyte manufacturing during the initial lift-off phase of VFB deployments worldwide.

To ensure stable, long-term access to vanadium feedstocks for electrolyte manufacturing, VanadiumCorp is also developing new hydrometallurgical processes to extract vanadium from the titanomagnetite deposits at its wholly owned Lac Doré property near Chibougamau, Québec.

Key Facts

Industrial

The Company's manufacturing plant in Val-des-Sources, Québec, will come on-stream in Q2 2024, producing high-purity vanadium electrolyte for VFB OEMs with a significant expansion path scoped.

Mining

The Company's strategic mineral deposit of vanadium-titanium-iron at Lac Doré, Chibougamau, Québec, promises a stable supply of vanadium for electrolyte production for decades, contingent on a Positive Feasibility Study and successful permitting and development.

Strategy

The Company is entering downstream electrolyte manufacturing now, during the lift-off phase of VFB deployment worldwide, followed by our mine production when we have established a vanadium electrolyte market share.

The VanadiumCorp Supply Chain Strategy

Source Vanadium internationally as feedstock to produce electrolyte in our plants.
Pilot plant #1 in production with scoping for 2nd plant underway with future expansion to 4M litres of electrolyte production per year.
Grow sales and revenues while capturing market share.
Achieve profitability from Canadian manufactured electrolyte sales and VFB leasing.
Refine patented hydrometallurgical processes to extract vanadium from the titanomagnetite deposits
Bring Lac Dore V-Ti mineral deposit on stream, success contingent on feasibility studies and permitting using green technology and clean mining.

The Investment

Long-duration Energy storage will play a pivotal role in ensuring a sustainable and resilient grid.

$58B US

Invested over last 2 years

$223B US

Investment by 2044

7% VRB

Current LDES market share

20% VRB

Predicted LDES market share by 2040

Vanadium Flow Batteries
Installations Worldwide

200

Currently Installed

92

In development