American Vanadium Corp. (TSXV:AVC,OTCQX:AVCVF) has entered into a memorandum of understanding with GILDEMEISTER energy solutions of Germany to explore various joint venture and partnership arrangements with the objective of being a leading provider of energy storage and micro grid solutions in North America. GILDEMEISTER holds a leading position worldwide as a producer of cutting machine tools.
As quoted in the press release:
“The companies will examine various business models that will allow for the rapid and economic adaption of Vanadium Redox Flow Batteries,” said Lars Mollenhoff, (Managing Director of Cellstrom GmbH, part of GILDEMEISTER energy solutions). “We have commercialized a unique energy storage solution with our CellCube, a powerful, durable and low maintenance large scale vanadium redox flow battery that can be incorporated into everyday energy systems. Our battery system ensures a clean, emission-free energy supply at all times, characterized by high reliability, high stability and very fast reaction times.”
American Vanadium Executive Chairman Ron MacDonald said:
Utilizing GILDEMEISTER’s fully developed and commercialized CellCube energy storage system and American Vanadium’s stably priced supply of high purity vanadium electrolyte, the companies together present a unique opportunity to cooperate in the US to rapidly supply the growing energy storage and renewable energy market.