16:14:02 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Vanadiumcorp Resource Inc
Symbol VRB
Shares Issued 244,037,152
Close 2019-03-28 C$ 0.08
Market Cap C$ 19,522,972
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Vanadiumcorp partner begins V electrolyte production

2019-03-28 16:12 ET - News Release

Mr. Adriaan Bakker reports

ELECTROCHEM TECHNOLOGIES & MATERIALS INC. STARTS COMMERCIAL PRODUCTION IN CANADA OF VANADIUM ELECTROLYTE FOR VANADIUM REDOX FLOW BATTERIES (VRFB)

Vanadiumcorp Resource Inc.'s partner, Electrochem Technologies & Materials Inc., has begun commercial production at its facilities in Boucherville, Que., Canada, of all-vanadium equimolar electrolyte solutions directly from vanadium pentoxide purchased on the market by using an electrochemical process. Production is now performed on demand using Electrochem's proprietary VRFBEX unit and know-how.

"The key competitive advantage of Electrochem's VRFBEX electrochemical technology relies on the company know-how and proprietary manufacture of industrial electrodes reducing significantly the capital expenditure and vanadium electrolyte production costs. The positive feedback received from our end-users confirms our business decision. Hence, future licensees of the Vanadiumcorp-Electrochem processing technology (VEPT) could benefit from the vertical integration of Electrochem's exclusive technology by purchasing a cost-effective alternative compared to other commercial equipment providers. This add-on process will allow converting electrochemically large tonnages of vanadium pentoxide from the VEPT into vanadium electrolyte," says Francois Cardarelli, president of Electrochem.

Vanadiumcorp plans to co-develop VEPT in Canada and co-license the VEPT for targeted global jurisdictions to directly recover battery-grade vanadium precursors for preparing the vanadium electrolyte and co-products such as ferrous sulphate and titanium dioxide from many sources. Jointly developed and owned with Electrochem, this innovative chemical process allows for integrated and low-carbon footprint recovery of vanadium needed on a global scale from vanadiferous titanomagnetite (VTM), magnetite and hematite, as well as steel slags, calcine and oil residues. Vanadiumcorp also holds a significant vanadium-titanium-iron-bearing resource base in mining-friendly Quebec, Canada.

Electrochem is a private Canadian corporation that currently owns 24 patents worldwide on proprietary chemical, metallurgical and electrochemical technologies that are innovative and sustainable. Commercially, the company manufactures industrial electrodes, recycles rare earths, and produces tantalum, tungsten chemicals and vanadium electrolyte at its production facilities in Boucherville, Que.

VEPT: The jointly owned Vanadiumcorp-Electrochem process technology describes a novel chemical process invented by Dr. Francois Cardarelli that addresses the recovery of vanadium, ferrous sulphate, titanium dioxide and silica from vanadiferous feedstocks (such as titanomagnetite, iron ores and concentrates), wastes and other industrial byproducts containing vanadium.

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