VanadiumCorp Resource Inc

Developing the 1st sustainable energy storage supply chain

This profile is part of a paid investor education campaign.*

Game change: VEPT

VanadiumCorp Resource Inc (TSX:VRB) introduces a new method to produce vanadium and coproducts without carbon from virtually any source. After a decade of vanadium resource development in Quebec, Canada, VanadiumCorp now owns 100% of North America’s top tier vanadium mining projects and technology that removes the cost and carbon footprint of vanadium for perpetual use in vanadium redox flow batteries “VRFBs”.

vanadium corp sustainable energy

VanadiumCorp identified the vanadium industry’s largest challenges and partnered with Electrochem Technologies & Materials Inc. to solve them. In December 2016, Electrochem thoroughly tested VanadiumCorp magnetite with a new sulphate approach resulting in the invention of a new electrochemical process. The technology is named the VanadiumCorp-Electrochem Process Technology “VEPT” and recovers vanadium directly as electrolyte as well as maximum value of all contained metals from magnetite, ilmenite, steel slags, calcine, oil industry waste and vanadium industry waste known as calcine that contains the 95% of lost iron and titanium values.

The holy grail of energy storage: Vanadium Electrolyte

Stable or low-cost supply of vanadium electrolyte simply does not exist. As the vanadium represents close to half the cost of a vanadium battery, the economics of the battery were historically disrupted by erratic pricing amplified by changes in steel market that produces and consumes most of global vanadium.

Despite the unnecessary cost of vanadium electrolyte, VRFBs have already overcome lithium batteries on a levelized cost basis. The future of sustainable energy is now within reach with cost elimination and carbon footprint removal possible with VanadiumCorp-Electrochem Technology. The era of sustainable energy storage is within reach.

The new green method is absolute opposite to global producers that utilize pollutive and limited recovery of dry form of vanadium in a form unsuitable for use in batteries. The few primary producers left serve the steel industry and yield only 1 percent from magnetite concentrate. Primary vanadium mines regularly suffer catastrophic shutdowns due to high technical risk and reliance on single commodity economics. The high yield, maximum recovery of VanadiumCorp-Electrochem Technology spreads commodity risk over three marketable products instead absolute reliance on one.

Industry challenges and bottlenecks

Conventional pyrometallurgical processes utilize either direct soda ash roasting of the magnetite followed by water leaching, or the arc smelting and slagging of the magnetite followed by soda ash roasting of the vanadium-rich slag. Smelting or roasting is capital intensive with high operating costs, technical risks and significant emissions of greenhouse gases that pose serious environmental issues. Hydrometallurgical processes for the extraction of vanadium have been proposed in the last decade as a lower cost alternative in replacement of the conventional processes but they fail to produce a high quality iron co-product.

VEPT addresses these key issues and allows the full recovery of vanadium for the production of vanadium electrolyte (VE) or vanadium chemicals as well as the concurrent production of titania byproduct, high quality iron co-product and silica. Smelting and roasting processing is inefficient and pollutive and the resulting vanadium oxide is better suited for steel production. Cost of purification, transport and lower pricing requirements of battery companies is simply not sustainable with current production methods. There are thousands of vanadium based magnetite resources and only three primary mines in production in the world (Rhovan and Vametco in South Africa and Maracas in Brazil). VEPT has the potential to unlock new supply around the world and revitalize existing production facilities with sustainable energy.

vanadiumcorp-process

Company Highlights

  • New Process – VEPT is a green chemical technology innovation that directly recovers vanadium electrolyte and unlocks max value of magnetite slags, calcine without carbon current pollutive methods.
  • Near term commercial demonstration objectives – Zero vanadium electrolyte production cost target with recovery of iron, titania and silica. Cash flow model and licensing development plan includes processing feedstocks previously considered waste.
  • Global Licensing/Royalties – Objective of commercial demonstration and cash flow to finance process development and unlock near term supply.
  • Long term commercial production objective – 100 percent owned vanadium-titanium-iron resources.
  • North American Advantage – Unrivalled vanadium-titanium-iron resources now recoverable with the new technology.
  • Experienced management and technical team – Low administration and development costs reinforced by quality expertise and sustainable development.
  • Small market capitalization – Strategic upside position in emerging process technology and supply chain required for energy storage, steel, vanadium, titanium and iron markets.
  • Strong Demand outperforming lithium and cobalt price performance combined in the past 3 years. Vanadium is the most cost-efficient steel and alloy strengthener, and new applications for vanadium-based energy storage, window coatings, robotics and supercomputing bode are forecast to push prices higher.
  • Location – Mining-friendly Quebec includes tax incentives, government funding and low cost hydroelectricity.
  • Timing – The right process and products for high demand specialty markets.

Sustainable Vanadium = Sustainable Energy Storage

vanadium corp infographic

Unable to catch fire like lithium, vanadium batteries “VRFBs” do not generate any heat. VRFBs are considered the most sustainable form of energy storage in the world the electrolytes are both vanadium and do not ever degrade. In fact, most of the VRFB  by volume is vanadium electrolyte and lasts forever. This is a perfect fit with VEPT that eliminates the cost and carbon footprint of vanadium electrolyte.

Unique to other batteries, vanadium is both the anode and cathode allowing for the separation of power and energy with unlimited capacity and customizable rates of charge and discharge that can operate concurrently. If more energy storage is required, additional tanks of electrolyte are simply added and managed through simple control systems. This is unlike short life, large carbon footprint  battery technologies like lithium that are comprised of all-in-one individually managed cells that compound safety and performance risks relating to unstable elements and thermal runaway.

Vanadium’s unique chemical properties have created a myriad of high-tech applications such as energy storage, supercomputing, nanotechnology, smart windows, pigments, aerospace and super alloys and more. The US geological society recently categorized vanadium as a critical metal with irreplaceable applications. In steel and steel alloys, vanadium has the highest strength to weight ratio known to man. All this is great news for VanadiumCorp considering the market is now appreciating the value of vanadium over all other battery materials combined. Vanadium Pentoxide is currently valued at over $70,000 USD /tonne and is often sold at many times that price as battery grade electrolyte.

vanadium corp commodity price chart

Management

Adriaan Bakker—President and CEO

The son of an energy entrepreneur and engineer, Adriaan’s vision from an early age was the development of a sustainable energy future. After spearheading the acquisition of the leading vanadium projects in Canada formerly owned and developed by the Canadian government since 1948. He then assembled a world class technical team and transitioned the entire management team by proxy in 2013. After careful consideration of current process methods, Adriaan approached Electrochem to address serious industry challenges. This resulted in the invention of an innovative process technology by Electrochem that created the path to sustainable energy. This includes cost mitigation of vanadium as the key to renewable energy storage and a world of additional possibilities including carbon free steel and alloys, supercomputing, smart window coating, advanced robotics, nanotechnologies, pigments and more.

Stephen Pearce—CFO and Corporate Secretary

Stephen has over 27 years of experience in mining and law includes global mine management and operations. Specializing in corporate and securities law, he received his law degree from the University of British Columbia and an Honours Bachelors Degree in economics from York University with an emphasis on corporate finance. He is active in his community and serves as President of WRAGS (Western Regional Advocacy Group Society), a non-profit organization which works in partnership with Sleep Country Canada to provide free mattresses to those in our community most in need.

Sokhie Paur—Director

Mr. Puar has over 30 years in the public markets, and has worked in various capacities with companies in the mining, oil and gas, technology, education and clean energy sectors since 2001. Most recently, Mr. Puar held positions of CEO, President, Director and Chairman of Candelaria Mining Corp. raising over $28 million and leading acquisition of several mining projects in Mexico. Mr. Puar holds a diploma in Mechanical Engineering Technology and a diploma in Business Administration from the British Columbia Institute of Technology. Mr. Puar sits and has sat on boards of many public and private companies including the board of Governors of Southpointe Academy, an independent school located in Tsawwassen, B.C., where he Chaired the Governance Committee.

John Hewlett—Director

John has strategically invested in the resource market for the past 30 years and is one of the largest investors of VanadiumCorp.  He is renowned for his practical approach to direct investment and project development and his mandate for strict corporate governance. His background includes mineral prospecting, discovery and mine development globally as well as real estate for the last 25 years in Canada. His network of contacts covers a wide array of retail and strategic contacts from the mining industry and accredited investment community.


 

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