11:46:48 EDT Sun 03 Jul 2022
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Sparton Resources Inc
Symbol SRI
Shares Issued 141,255,923
Close 2021-07-14 C$ 0.12
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Sparton portfolio unit "supplier of choice" in China

2021-07-14 11:13 ET - News Release

Mr. Lee Barker reports

SPARTON ANNOUNCES THAT VRB ENERGY'S VANADIUM REDOX BATTERY SYSTEM HAS BEEN SELECTED FOR NATIONAL EVALUATION IN CHINA

Sparton Resources Inc. has noted that VRB Energy Inc. has been selected by the China State Power Corp. to install a 500-kilowatt-hour vanadium flow battery at the National Photovoltaic and Energy Demonstration Experimental Center in Daqing, northeastern China.

The centre has agreed to purchase a 125-kilowatt/500 KWh all-vanadium redox flow battery energy storage system from VRB Energy. The unit will be installed at the centre and used as an evaluation and demonstration unit to assist in developing the Peoples Republic of China's (PRC) industrial energy storage policies and technical standards as part of the nation's commitment to carbon neutrality.

The centre is PRC's first integrated photovoltaic and energy storage evaluation site approved by the National Energy Administration. Its mandate is to produce systematic scientific research data on the practical operation of integrated photovoltaic energy generation and energy storage technology. The operating performance of the system will be fully evaluated and assist in setting technical standards and industry policies for future installations in the PRC.

The centre and the battery system are scheduled to be completed and fully functional by Sept. 26, 2021. Once operational, the centre will evaluate performance and promote technological innovation, and the application of scientific protocols within the entire energy storage industry chain. This work will include evaluation of the integration of photovoltaic/vanadium battery storage systems into diversified industries according to their power needs and provide guidance for new and larger-scale photovoltaic and energy storage projects. Locally it will promote urban transformation and development, and the revitalization of the Daqing area and all of northeastern China.

VRB Energy has been selected for the project among several competitors and is being recognized as the supplier of choice in China for this evaluation of vanadium redox battery energy storage systems. It has advanced technology and the ability to deliver reliable, efficient and safe installations.

"Sparton is delighted with this news," stated Lee Barker, Sparton chief executive officer. "This is a clear recognition that VRB Energy is the leading vanadium flow battery manufacturer in China and bodes well for new future sales. The new Gen3 system nearing completion in development will be another milestone in VRB Energy's technical development journey."

The company owns a minority interest in VRB Energy through its subsidiary, VanSpar Mining Inc.

Information regarding the company's interest held in VRB Energy

Sparton's 89.8-per-cent-owned subsidiary, VanSpar Mining Inc., registered in the British Virgin Islands, owns 9.8 per cent of VRB Energy, which is registered in the Cayman Islands, which in turn owns 100 per cent of VRB Energy Systems, registered in China, and is the vanadium flow battery manufacturer.

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