VanadiumCorp Signs MOU with lC-Tech Innovation to Develop Electrolyte Production Plant in Canada

VanadiumCorp Resource (TSXV:VRB) announced the signing of a memorandum of understanding with UK technology company C-Tech Innovation for the development of a vanadium electrolyte plant in Canada.
As quoted in the press release:

Direct VE capacity is the main consideration in the Company’s preliminary economic assessment “PEA”. C-Tech will assist in recovery optimization and beneficiation of VanadiumCorp electrolyte directly from magnetite concentrate.
C-Tech is an innovative research and technology company focused on preparation of VE for use in vanadium redox flow batteries (VRFB). Under the MOU a test plant capable of producing battery-ready electrolyte will be established in Quebec, Canada. C-Tech will also collaborate with VanadiumCorp (along with other consultants) on a commercial-scale VE plant.
The MOU will allow the companies to collaborate on a number of key strategic initiatives including:

• The development of vanadium electrolyte production and other specialty high purity vanadium materials using C­Tech’s highly efficient electrochemical processing technology from VanadiumCorp’s mineral claims located in the mining center of Chibougamau, Quebec.
• The development and commercialization of efficient and environmentally friendly mineral extraction and processing technologies to enable the direct production of vanadium electrolyte from unrefined raw materials, including the simultaneous removal of contaminant metals.
  Pursue reasonable efforts to enter into a definitive agreement within 12 months from the effective date of signing for the MOU.

The general process & production development outline for The Lac Dore Vanadium Project:

• Commence initial testing of VanadiumCorp VTM, V205
• Demonstrate recovery and economics with C-Tech electrochemical pilot plant
• Commence scaled up commercial vanadium electrolyte manufacture with C-Tech production plant

Click here for the full press release.