Disrupting Renewable Energy Storage
WHY ENERGY STORAGE
Global power generation was about 4500 TWh in 2019. The demand for electricity storage is considered to be about 1/10 of the amount of power generation so the total potential market of this market is about 450 TWh, the actual figure might even be higher.
Currently, the world's battery production is about 150 GW per year, so the potential is 3'000 times larger.
MASSIVE SUPPLY AND DEMAND IMBALANCE
Low-carbon legislation driving demand within constrained supply chain resulting in long lead times.
ALTERNATIVE TO LITHIUM NEEDED
Utilities are competing against EV industry, global lithium supply expected to hit a wall by 2040
WHY VANADIUM
Vanadium is a chemical element with the symbol V and atomic number 23. It is a hard, silvery-grey, malleable transition metal, extracted as a byproduct in gold / silver mines.
VANADIUM V.S. LITHIUM
Vanadium-based batteries have a long lifespan, whereas lithium batteries degrade rapidly. Vanadium is non-flammable and can operate at any temperature. Lithium is known to be flammable and can catch fire at relatively lower temperatures. Vanadium-based batteries can increase discharge cycling by simply increasing the size of the Cell.
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INNOVATION IN NANO SCALE
We have commercialized a material science innovation in battery chemistry that couples the safety and performance of time-tested vanadium-ion exchange reaction with a solid state electrode body.