Is vanadium the future of battery energy storage?

The use of vanadium in the battery energy storage sector is expected to experience disruptive growth this decade on the back of unprecedented vanadium redox flow battery (VRFB) deployments.

Which countries are focusing on vanadium based storage?

Exceptions include Australia and Canada, which are starting to focus on vanadium and vanadium-based storage. The US is also recognizing the need for vanadium, long duration storage and VRFBs through its policies. In all other regions, the private sector is moving first.

Does Bushveld Minerals support vanadium in the energy transition?

Bushveld Minerals has positioned itself to support vanadium’s role in the energy transition. Its vertical integration strategy combines primary vanadium mining, beneficiation, and downstream energy storage businesses to drive adoption of VRFBs.

Why is vanadium important?

The USA and EU consider vanadium to be a critical material, and the recent Inflation Reduction Act is expected to further support the growth of the VRFB supply chain in the USA. In the EU, a preliminary agreement set in 2023 raised the renewable energy target from 32% to 42,5% by 2030.

What are vanadium redox flow batteries (VRFBs)?

Vanadium Redox Flow Batteries (VRFBs) are the simplest and most developed flow batteries in commercial operation, and are well-positioned to take a significant share of the stationary energy storage market.

Can vanadium be reused in a VRFB?

The ability to recycle the vanadium or reuse the entire electrolyte in a VRFB creates an opportunity for solutions such as electrolyte rental. These solutions will accelerate adoption of VRFBs at utility scale by reducing the upfront capital costs, while creating new economic opportunities for vanadium producers.