POW look more focused on the VRB Battery space than actually Vanadium but I didnt realise they had such a large exploration target for their Korean deposit
$5M Mkt Cap and about $3m cash so a pretty undemanding EV of $2m
not a bad punt down here on the VRB tech
At Protean Energy there are two storage systems available in our portfolio. One is a compressed air energy storage system (CAES) which is incorporated in the power take off (PTO) for the ProteanTM wave energy system (WES).
The other, an electro chemical system, relates to Protean's stake in an energy storage system company which has developed a vanadium redox flow battery energy storage system (V-KOR).
VANADIUM REDOX FLOW BATTERIES
The Vanadium Redox Flow Battery Energy Storage System (V-KOR) is a rechargeable flow battery that employs vanadium ions in different oxidation states to store energy in the form of two liquid electrolytes. VRFBs are proven to have excellent durability and life spans of 20 years plus can be expected. An important attribute of VRFB systems is that the energy capacity is independent of the power rating, allowing the storage system to be designed for highly specific energy and power requirements and making it well suited to applications with large energy capacity specifications. It also offers adaptability if requirements increase in the future. These batteries are currently used for grid scale energy storage applications where large-scale and long duration electrical energy storage is required and are an ideal solution for the broadening renewable energy generation sources such as wave, tidal, solar and wind.
Vanadium Redox Flow Batteries complement the Company’s Daejon Project asset in Korea, consisting of vanadium, a key element in the manufacture of the VRFBs.
The acquisition of this technology aligns with Protean’s strategy to offer hybrid energy solutions in the transition from fossil fuels to clean, affordable and reliable energy.
HOW IT WORKS
Vanadium flow batteries use the movement of liquid electrolytes to enable the replacement of depleted materials and reducing the degradation of materials. Two tanks of liquids (electrolyte) are pumped past a membrane held between two electrodes to generate electricity. The tanks provide the storage and therefore are fully scaleable by adding more tankage and electrolytes. COMPRESSED AIR ENERGY STORAGE
Protean's proprietary technology in the Wave Energy Converter (WEC) places it in a unique position to provide energy storage in conjunction with a wave energy convertor. The WEC's technology is built around generating compressed air in each individual WEC unit and transferring it to the heart of the wave energy generation system the Power Take off Pontoon (PTOP). Before using this energy to generate electricity it is stored in banks of accumulators. Not only does this system provide smooth power but if there is a calm period with low wave energy to draw on then the compressed air storage can be used to continue the production of electricity. The accumulators are sized according to the needs of the customer and the regularity of the wave resource. Storage capacities of several hours are possible depending upon the circumstances.
The extremely large capacities possible from vanadium redox batteries make them well suited to use in large power storage applications such as helping to average out the production of highly variable generation sources such as wind or solar power, helping generators cope with large surges in demand or leveling out supply/demand at a transmission constrained region.
Long life and excellent performance
Nearly unlimited number of cycles, with a 20 plus year lifetime
100% depth of discharge
Best value storage solution on a life cycle basis
Safe and sustainable
Non-toxic
Non-flammable electrolyte chemistry
100% of vanadium can be re-used once battery is removed
Additional benefits of the technology include
Quick recharge
Easily scalable, as power rating (MW) and energy capacity (MWh) are independent
Proven operation in high ambient temperatures
POW Price at posting:
2.4¢ Sentiment: None Disclosure: Held
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