January Monthly Vanadium News

I would like to begin by wishing all of our readers a very happy and prosperous New Year, hoping that 2024 will mark a turnaround for the vanadium industry. The year has begun with strong news flow on significant developments in vanadium-based energy storage solutions, particularly in China.

China's Pivotal Role in Vanadium's Global Advancement

At the forefront of vanadium innovation, China has launched several groundbreaking projects:

  1. The commencement of the Panzhihua 100MW/500MWh VFB energy storage power station in the Panzhihua Vanadium and Titanium High-tech Zone;

  2. The Sichuan Neijiang 100MW/400MWh VRFB demonstration project, with an investment of 1.5 billion yuan;

  3. The CNNP Rich Energy Dongle Beitan 50MW/200MWh VFB project has been successfully connected to the grid;

  4. The Luzhou, Sichuan project, with 100MW/500Wh of capacity;

  5. The investment of 500 million yuan in the Taiding Energy Storage Technology vanadium flow battery energy storage power station.

Remember, each GWh of production could add approximately 4% of annual vanadium demand.

This impressive list of “mega-projects” reflects China's dedication to advancing vanadium's role in sustainable energy​​. These initiatives are pivotal in enhancing grid stability and supporting the global shift towards green energy, further cementing China’s leadership in this domain.

Moreover, Chinese scientists have developed a breakthrough vanadium flow battery stack, underscoring the nation’s innovative prowess and its ambitions to set a benchmark for the application of vanadium technology, globally.

Outside of China's advancements, the global vanadium sector continues to thrive. The arrival of a vanadium flow battery in Western Australia and the inauguration of an advanced vanadium electrolyte facility, reflect the growing global interest in this technology.

Surefire Resources NL receiving new Saudi backing also exemplifies the growing global interest in vanadium as a strategic resource. Such international alliances are crucial for the development of the vanadium industry, bringing diverse expertise and resources to the table.

However, it is important to note that due to the current low-price environment, supply-chain challenges are emerging. The production suspension warning from Bushveld Minerals due to funding issues underscores the need for sustained investment and support in the vanadium industry​​.

As we witness these exciting developments, it is clear that the future of energy storage and renewable integration is inextricably linked with vanadium. China's monumental projects and innovations serve as a blueprint for global advancement in this field. At Largo Physical Vanadium, we are committed to being at the forefront of this transformation, harnessing the power of vanadium to create a sustainable and energy-efficient future.

Thank you for your continued support and belief in our vision. Together, we are not just witnessing history; we are shaping it.

Largo Physical Vanadium Update – January 2024¹

LPV’s net assets are over 95% held in physical vanadium products. LPV’s net asset value (“NAV”) is now at C$1.54/share, implying that our closing share price as of January 31, 2024, was trading at a 19% discount.

Panzhihua 100MW/500MWh vanadium flow battery energy storage power station demonstration project started in Panzhihua Vanadium and Titanium High-tech Zone

Australian Vanadium welcomes arrival of vanadium flow battery in Western Australia

Bushveld Minerals warns of suspension if receives no funds

Richmond Vanadium Technology has financial muscles to create new industry for Australia

Surefire to get new Saudi backing for vanadium play

Federal Resources Minister opens AVL’s flow battery electrolyte plant in Western Australia

Sichuan Neijiang starts construction of 100MW/400MWh VRFB demonstration project for 1.5billion yuan

Chinese scientists develop a breakthrough Vanadium flow battery stack

Total investment is 500 million yuan! Taiding Energy Storage Technology vanadium flow battery energy storage power station project signed

VSUN Energy completes first vanadium flow battery

100MW/500Wh! “Vanadium Flow Battery Industrialization” Project Settled in Luzhou, Sichuan

CNNPRich Energy Dongle Beitan 50MW/200MWh vanadium flow battery independent shared energy storage project was successfully connected to the grid

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,
Chief Executive Officer

Click here for a complete listing of Largo Physical Vanadium's press releases.

¹ Key Metrics (as of January 2024 closing)

² LPV’s marked to market average vanadium price blending various products and geographies