(MENAFN- ProactiveInvestors)
() is moving up the value chain signalling an intention to claim a chunk of the growth in the vanadium battery market and becoming a vertically integrated vanadium company.
The grid-scale energy storage industry is tipped to grow to US$100 billion by 2020 with Vanadium Redox Flow Batteries (VRFB) expected to capture up to 30% of this market.
As part of this strategy the company has created subsidiary company VSUN Pty Ltd to develop opportunities in the distribution of VRFBs.
It has also secured distribution rights with two German vanadium battery makers and is in negotiations with other major stakeholders in the vanadium battery storage market.
In Australia the company has partnered with a Perth-based commercial solar installer which has an extensive track record of commercial and residential solar system installations.
These moves will allow Yellow Rock to leverage its Gabanintha project in Western Australia Australia’s highest grade and best located Vanadium-Titanium-Iron deposit that is currently being advanced to feasibility.
Vincent Algar chief executive officer commented:
“As we develop this project we are seeing the rapid development of commercial grid storage technologies such as the scalable Vanadium Redox Flow Battery.
“The VRFB is very well suited to the commercial and grid solutions being called for in this exciting space.
“Our step into the battery and vanadium electrolyte distribution market is designed to build a significant market share as an integrated company benefiting shareholders with early cash flows.
“The amount of power being generated from renewable energy sources is growing as people recognise the value of a sustainable and predictable source of energy.
“Battery storage is integral to the continued development of this market in order to regulate and take full advantage of renewable energy creation.”
Developing story…
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