VanadiumCorp Resource is pleased to announce its plans to open a vanadium redox flow battery, research and development facility in Karlsruhe, Germany.
VanadiumCorp Resource Inc. (TSXV:VRB) (the “Company”) is pleased to announce its plans to open a vanadium redox flow battery “VRB”,”VRFB” research and development facility in Karlsruhe, Germany, focused on next generation flow battery innovation.
“We are in detailed negotiations with potential manufacturers and end users. An engineering team of industry veterans will be led by our new Chief Technology Officer, Dr. Gilles Champagne.” commented, Adriaan Bakker, Chief Executive Officer of VanadiumCorp, “Focusing on sustainability and innovation for the last 12 years has led VanadiumCorp to what may facilitate the electrification of mobile applications such as vehicles, trains and ships. Innovation of the VRFB would also benefit the global energy storage market as it shifts towards long duration grid-connected systems.”
The Company would also like to clarify disclosure from September 26, 2019 published on www.batteriesinternational.com. VanadiumCorp has identified key improvements over current technology to increase the energy density of vanadium electrolyte as well as the power density of the conventional stack in a VRFB. VanadiumCorp intends to integrate vanadium directly into its own battery systems at a future date and is not currently producing VRFB’s. Further announcements regarding the future VRFB facility in Germany will be announced in the fourth quarter of 2019.
VanadiumCorp Resource Inc. is developing dedicated vanadium supply and disruptive technologies for energy storage with a 100% green mandate. More information on active projects and new vanadium energy technologies can be found on The Company’s website at www.vanadiumcorp.com.
On behalf of the board of VanadiumCorp:
President and Chief Executive Officer
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Cautionary & Forward-Looking Statements
This release contains forward-looking statements. All statements other than statements of present or historical fact are forward-looking statements, including statements with respect to the anticipated use of Private Placement proceeds and anticipated receipt of final TSX Venture Exchange acceptance for the Private Placement. Forward-looking statements include words or expressions such as “will”, “subject to”, “expect” and other similar words or expressions. Factors that could cause future results or events to differ materially from current expectations expressed or implied by the forward-looking statements include general business, economic, competitive, political and social uncertainties; the state of capital markets and risks that may impact the Company’s business, operations and financial condition. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Additional information on these and other factors that could affect the Company’s operations and financial results are included in reports on file with Canadian securities regulatory authorities and may be accessed through the SEDAR website (www.sedar.com). We disclaim any obligation to update or revise these forward-looking statements, except as required by applicable law.