U3O8 Enhances its Battery Commodity Focus by Joining Vanitec

U308 (TSX:UWE) has announced it has become an associate member of Vanitec. Vanitec assembles research organizations and manufacturers of products that contain vanadium, with mining companies who process the metal.
As quoted in the press release:

The use of vanadium in batteries is growing exponentially, not only for industrial-scale Vanadium Redox Flow Batteries (“VRB”), but also for lithium ion batteries. U3O8 Corp. also has phosphate and nickel resources – commodities that are in demand by the battery industry.
“One of the greatest challenges and opportunities related with renewable energy from solar or wind is its inherent supply variability; supply that needs to be regulated or smoothed in order to be a useful source of electricity,” said Dr Richard Spencer, President and CEO of U3O8 Corp.  “Batteries perform this function, acting like shock-absorbers, storing energy when an excess is produced, and delivering electricity when demand rises.  Lithium-ion batteries are ideal for high power output for a few hours, but when power is needed for longer periods, other technologies, such as flow batteries, provide a better alternative.  Vanadium Redox Flow Batteries are a superior alternative when power is needed for more than four hours – and these batteries can easily and cost-effectively be scaled up for industrial applications.  With its vanadium resources of 63 million pounds indicated and 118 million pounds inferred, U3O8 Corp. represents a potential supplier to the battery industry.  Vanitec provides a forum in which we may forge closer ties with battery manufacturers as well as research facilities that are working on ways of making the batteries more efficient and cost-effective.  This is an exciting time since, after years of weakening markets, the vanadium price has rebounded sharply in response to increased demand.”

Click here to read the full press release.