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VanadiumCorp, Ultra Power to jointly commercialize vanadium redox flow batteries

VanadiumCorp Resource Inc. will partner with U.K.-based Ultra Power Systems Ltd. to commercialize and deploy vanadium redox flow batteries for microgrid applications.

"Both companies are evaluating joint opportunities globally to integrate strategic supply, new processes, leasing options and manufacturing opportunities," VanadiumCorp CEO Adriaan Bakker said March 2.

The company signed a partnership deal in mid-January with Electrochem Technologies & Materials Inc. to develop and commercialize vanadium electrolyte production.

A November 2017 preliminary economic assessment on VanadiumCorp's Lac Dore property in Quebec defined a posttax net present value of C$369 million, using a 5% discount rate.