Vancouver-based VanadiumCorp Resource Inc. announced January 12 that it had signed a memorandum of understanding with UK technology company C-Tech Innovation Limited to collaborate on the development of a vanadium electrolyte (VE) plant in Canada. Their product could play a significant role in energy storage in the future. C-Tech will assist in recovery optimization and beneficiation of VanadiumCorp electrolyte directly from magnetite concentrate.
C-Tech is a research and technology company focused on preparation of VE for use in vanadium redox flow batteries (VRFB). Under the MOU a test plant capable of producing battery-ready electrolyte will be established in Quebec. C-Tech will also collaborate with VanadiumCorp (along with other consultants) on a commercial-scale VE plant.
The MOU will allow the companies to collaborate on a number of key strategic initiatives including:
• The development of vanadium electrolyte production and other specialty high purity vanadium materials using C-Tech's electrochemical processing technology from VanadiumCorp's mineral claims located in the mining center of Chibougamau, Quebec.
• The development and commercialization of efficient and environmentally friendly mineral extraction and processing technologies to enable the direct production of vanadium electrolyte from unrefined raw materials, including the simultaneous removal of contaminant metals.
C-Tech has developed a proprietary electrochemical process for the production of VE, the critical component in VRFBs. Approximately 42% of the total cost of a VRFB battery is attributed to VE specifically, the news release explains.
Along with pumped hydro, flow batteries are one of only a few technologies suitable for storage of electrical energy on a bulk scale.