Ann: Increase in Ownership of KORID Energy to Drive Opportunities, page-7

Great new for Protean Energy (POW)

Excerpt ----

Protean’s energyexpert Scott Davis said the Company was pleased to increase its ownershipin KORID during an exciting time for the Company and strong growth in theglobal battery market. “KORID’s selection by the South Korean government as thelead developer and supplier of the stack component2 of the battery issignificant validation of KORID’s expertise in stack technology” Mr Davis said.“This increased stake in KORID gives Protean Energy a controlling interest in the V-KORbattery technology.”The global vanadium market is expected to grow at a Compound Annual Growth Rate (CAGR) of11.24% during the 2017-2021 period, with vanadiumredox flow batteries a key driver.3 “There is significant potentialemerging in the vanadium battery storage market and Protean is now placed to capitalise on further advancements inthis technology” Mr Davis said