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Sparton Resources Inc
Symbol SRI
Shares Issued 129,515,089
Close 2020-06-03 C$ 0.025
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Sparton interest commissions flow battery system

2020-06-03 13:45 ET - News Release

Mr. Lee Barker reports

SPARTON RESOURCES INC. -- VRB ENERGY SOLUTIONS INC. ANNOUNCES COMMISSIONING OF NEW FLOW BATTERY SYSTEM IN HEBEI, CHINA

On June 2, 2020, Sparton Resources Inc. interest VRB Energy Solutions Inc. commissioned a five-kilowatt (four-hour) vanadium redox battery, as part of a 10-kilowatt photovoltaic plus energy storage system (ESS) pilot demonstration project with Hesteel Group Company Ltd., the largest steel and vanadium supplier in China. This solar-shifting pilot project is just the first step toward widespread deployment of the technology.

The system will provide clean energy to support Hesteel's plant lighting system through a local smart grid connection.

Located in Chengde, Hebei province, in the vanadium and titanium industrial park developed by Hesteel Group, this photovoltaic vanadium energy storage demonstration project was jointly developed by VRB and Hesteel.

The final commissioning has been completed, and the system was successfully put into operation. The project includes 10-kilowatt photovoltaic power generation and a five-kilowatt/20-kilowatt-hour, all-vanadium flow battery energy storage system. It provides power support for the plant lighting system through intelligent connection to the park grid and plays the roles of peak shaving and on-demand power, thereby improving the park's clean energy utilization efficiency and reducing overall fossil energy consumption. The system is contributing to the Beijing-Tianjin-Hebei area clean energy initiative program.

This photovoltaic vanadium energy storage demonstration project is the first vanadium battery energy storage demonstration project in Chengde (population of 3.5 million).

The installation is the result of co-operation between two world-leading enterprises in the industries of all-vanadium flow energy storage batteries and vanadium material manufacturing. The combination of the technology and resource advantages of the two companies will help to promote the efficient and comprehensive utilization of Hesteel's Chengde vanadium production and resources.

The utilization of VRB's advanced all-vanadium flow battery energy storage technology will promote the establishment of this technology and is expected to lead to the rapid deployment of new systems. It is designed to transform the current energy structure into increased use of renewables and storage. This first installation is expected to be a model for the implementation of the Beijing-Tianjin-Hebei co-ordinated development of a national clean energy strategy.

Hesteel is a Chinese conglomerate that manufactures iron, vanadium and steel, and is the second-largest steel and steel products producer in the world. The company was previously known as Hebei Iron and Steel Group Co. Ltd.

Sparton is delighted with this progress in Hebei and, once again, commends the VRB staff and management for achieving this milestone in VRB's development as the initial supplier of choice to Hesteel for its battery storage technology pilot project. The company believes that having Hesteel as a strategic partner for VRB going forward will open many opportunities for new business and significantly increase the value of the company's VRB interest.

Information regarding the company's minority interest held in VRB

Sparton's 89.8-per-cent-owned subsidiary, VanSpar Mining Inc., registered in the British Virgin Islands, owns 9.8 per cent of VRB, which is registered in the Cayman Islands, which, in turn, owns 100 per cent of VRB Energy Systems, registered in China, which is the vanadium flow battery manufacturer. Full information regarding the history of the VRB investment interest held by Sparton is in its various news releases and is available on SEDAR.

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