The Conversation (0)
Bushveld Minerals Ltd. (LSE:BMN) announced that it’s established Bushveld Energy Ltd., a new business that will focus on “developing and promoting the role of vanadium in the growing global energy storage market through application in Vanadium Redox Flow Batteries.”
Bushveld Minerals Ltd. (LSE:BMN) announced that it’s established Bushveld Energy Ltd., a new business that will focus on “developing and promoting the role of vanadium in the growing global energy storage market through application in Vanadium Redox Flow Batteries.”
Highlights of the new business include:
- Bushveld Energy is a 84% – owned subsidiary of Bushveld Minerals Limited
- Focused platform through which to support vanadium demand outlook via Vanadium Redox Flow Batteries (“VRFB”)
- Energy Storage market opportunity at a tipping point and presents attractive commercial opportunity in its own right
- Vanadium redox flow batteries well placed to take significant share in the utility scale energy storage market
- Appointment of Bushveld Energy CEO designate, Mikhail Nikomarov, and dedicated management team with extensive energy (and specifically energy storage) experience
- Business model reliant on smart partnerships targeting scale opportunities for energy storage
- Objective to install several VRFB systems during 2016, build awareness of the VRFB proposition and, in the medium term, establish local assembly and manufacturing capacity, thus creating a captive market opportunity for Bushveld produced vanadium in the form of electrolyte.
Click here to read the full Bushveld Minerals Ltd. (LSE:BMN) press release.