10:33:43 EDT Sat 15 May 2021
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or Name

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Vanadiumcorp Resource Inc
Symbol VRB
Shares Issued 309,251,120
Close 2021-01-07 C$ 0.11
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Vanadiumcorp begins developing batteries for marine use

2021-01-07 10:15 ET - News Release

Mr. Adriaan Bakker reports


Vanadiumcorp Resource Inc.'s commercial development work has commenced for the first phase of key design and engineering of next-generation vanadium redox flow-battery systems (VRFB battery) for marine propulsion applications.

Phase I work will be managed by the company's wholly owned subsidiary in the European Union, Vanadiumcorp GmbH, under the direction of Vanadiumcorp's chief technology officer, Dr. G. Y. Champagne. A multidisciplinary engineering team, located in Germany, the Netherlands and North America, is focusing on VRFB system architecture, components and parts design, and other required tasks leading up to delivering VRFB cells and stacks of incremental sizes for testing to local research and development partners near the established Vanadiumcorp GmbH facility in Germany. In addition to this effort, R&D partners will conduct some specific lab-level material and electrolyte tests to support the engineering work and integration of the VRFB in marine vessels.

Phase I work is part of a multiphase development schedule that forms the basis of definitive agreements required to make official a trilateral partnership with Conoship International Projects BV from the Netherlands and Vega Reederei and Partners GmbH from Germany targeting zero-emission shipping markets with next-generation redox flow batteries. Key advancements in energy density form a strong business case and stem from Vanadiumcorp's R&D co-operation with CENELEST (the German-Australian alliance for electrochemical technologies for the storage of renewable energy) that combines the strengths of both the Fraunhofer ICT (Institute for Chemical Technology) and the University of New South Wales in redox flow-battery systems.

The role of Vanadiumcorp is to develop the main components of the VRFB system that include a battery stack of appropriate power size and an optimized electrolyte formulation of favourable energy density. Vanadiumcorp will enlist its skilled partners in electrolyte production, VRFB battery manufacturing, and R&D in subsequent stages of work.

About Vanadiumcorp Resource Inc.

Vanadiumcorp is an integrated green technology company with strategic vanadium mineral deposit assets. Vanadiumcorp is focused on commercializing disruptive technologies to process mineral concentrates, produce and recycle vanadium electrolytes sustainably, and construct next-generation VRFB systems. VRFBs are 100 per cent green technology from mine to battery when hydrometallurgical processes produce the vanadium source commodity.

Proven VRFB technologies improve renewable energy efficiencies by storing temporary energy surpluses and feeding them back into the electrical grid as required. Vanadiumcorp also wholly owns one of the largest and metallurgically favourable vanadium mineral deposits in the world, located in mining-friendly Quebec, Canada.

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