August Monthly Vanadium News
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I'm thrilled to share exciting vanadium industry developments in our quest to build a more sustainable future.
Vanadium prices remained generally stable in August, however, the sector continued to gain global recognition for its vital role in energy storage.
Vanadium's Pivotal Role in Accelerating Renewable Energy Integration
An important potential catalyst for Largo PhysicalVanadium (“LPV”) is the announcement by Largo Inc. that it is initiating a review of strategic alternatives for its 100%-owned clean energy subsidiary, LargoClean Energy Corp. (“LCE”). This comprehensive review process includes evaluating and completing financing transactions at the LCE subsidiary level, mergers and acquisitions of LCE with other battery companies and partnership opportunities with well-established energy system producers who are interested in entering the vanadium battery sector with the unique elements that Largo offers to this industry.
We believe this process, if successful, could accelerate deployment of vanadium units owned by LPV in vanadium batteries.
One of the most significant vanadium redox flow battery (“VRFB”) ventures remains in Asia, particularly with the impressive Shanyang County initiative in China, which envisions an entire vanadium-based industrial chain, and the Beijing Green Vanadium New Energy's proposed 300MW project, further amplifying the narrative of vanadium's ascendancy in the region. |
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Another remarkable event was the European Investment Bank's €30 million loan to Germany-based VoltStorage, with a goal to advance its VRFB technology. This move not only reflects Europe's commitment to the green energy transition, but also highlights the growing consensus around flow batteries as a sustainable choice for stationary energy storage. Particularly in comparison to lithium-ion batteries, VRFBs present significant advantages, including a lower safety risk profile and almost non-existent degradation. |
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We are also seeing an increasing appetite for VRFBs in the U.S., as demonstrated by Stryten Energy's initiative in Georgia. Their project, in collaboration with Snapping Shoals EMC, marks the installation of the first VRFB energy storage system in the state. Such ventures underscore the promising potential of VRFB for long-duration energy storage and reinforce our conviction in the vast opportunities that await this sector. |
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Down under, Australian Vanadium’s commitment to establishing a vanadium electrolyte manufacturing facility, aiming for production by November 2023, is yet another testament to the burgeoning demand and strategic value of vanadium in the renewable energy ecosystem. |
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Finally, I must highlight Invinity Energy Systems' pivotal project in Alberta, Canada. Delivering an 8.4 MWh vanadium flow battery to Elemental Energy for the Chappice Lake Solar Storage initiative is a milestone, not just for Invinity but for Canada at large. |
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In aggregating these developments, a lucid picture emerges:
The world is embracing vanadium to bridge the intermittency of renewable energy sources and ensure their consistent integration into our energy grids.
At LPV, we remain poised and ready to leverage these expansive opportunities. I would like to extend my sincere appreciation to all our stakeholders who share this exciting journey with us. The future is green, and vanadium stands central to that vision, together we are shaping it.
Largo Physical Vanadium Update - August 2023¹ LPV’s net assets are over 90% held in physical vanadium products. LPV’s net asset value (“NAV”) is now at C$1.97/share, implying that our closing share price as of August 31, 2023, was trading at a 2.5% discount. |
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Recent Vanadium News |
German flow battery firm VoltStorage gets €30 million EU-guaranteed EIB venture loan |
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About Largo Physical Vanadium Corp. |
Largo Physical Vanadium Corp. (LPV) is a pure-play physical vanadium investment company. LPV provides direct exposure to vanadium through a secure, convenient and exchange-traded vehicle. Vanadium is essential to achieving a greener world, though carbon reduction, in key industries such as steel, aerospace and energy storage. LPV's strategy is to achieve appreciation through the acquisition of vanadium as well as actively supplying the fast growing vanadium redox flow battery (VRFB) industry to advance the integration of renewable energy in long duration storage. LPV's common shares trades on the TSX Venture Exchange under the symbol "VAND". For more information, please visit www.lpvanadium.com Paul Vollant, ¹ Key Metrics (as of August 31st, 2023 closing) ² LPV’s marked to market average vanadium price blending various products and geographies |