July Monthly Vanadium News

I am delighted to share some exciting developments in the vanadium industry at a time of growth, innovation, and collaboration to build a more sustainable and energy-efficient future.

During the past month, vanadium prices have remained generally stable.

Vanadium's Ascension in the Global Energy Landscape

China has solidified its status as a vanadium flow battery powerhouse, initiating several massive projects including Detai Energy's 1GW VRFB Manufacturing Base, 2GWh Vanadium Electrolyte Production by China Resources, and landmark energy storage demonstration projects in Sichuan, Lanzhou, Suzhou, and Xichang. It is important to note that every GWh of vanadium flow battery deployment represents approximately 4% of additional global vanadium demand.

The agreements signed by various Chinese provinces and companies for the shared energy storage power station projects and vanadium battery production projects demonstrate a significant investment in the building of a solid vanadium infrastructure.

Commercialization and technical advancements in vanadium flow batteries have allowed for increased global expansion of the technology as highlighted by Shanghai Electric sending its first batch of customized vanadium redox flow batteries to Europe.

In addition, various milestones from QEM, PNNL, Sumitomo Electric, and VoltStorage all reflect increased innovation and globalization of flow battery technology to further align with the push for integrated clean energy.

Finally, it's important to mention the broader political context, where China is taking a trade fight to Europe. As vanadium becomes increasingly central to the global energy landscape, its role in international relations and economic policy cannot be overlooked.

We at Largo Physical Vanadium are committed to capitalizing on these trends and playing a pivotal role in the development of this vibrant ecosystem.

I would like to extend our continued appreciation to our all stakeholders who are on this exciting journey with us. The future of vanadium is bright, and together we are shaping it.

Largo Physical Vanadium Update - July 2023¹

LPV’s net assets are over 90% held in physical vanadium products. LPV’s net asset value (“NAV”) is now at C$1.94/share, implying that our closing share price as of July 31, 2023, was trading at a 2.1% discount.

Based on the NAV to share price discount discussed in our last note, we continue to believe that this investment offer is even more attractive to current and potential LPV investors. A number of corporate initiatives and a marketing campaign are currently underway to raise awareness of LPV and close the valuation gap.

Upcoming Conferences:

Annual Meeting of Shareholders
Friday, August 25, 2023 @ 10:100am EST
Toronto, ON Canada

2023 Vanadium Market Fundamentals Report Project Blue
2023 Vanadium Market Fundamentals Report Project Blue

Most Recent LPV Corporate Presentation

Recent Vanadium News

Vanadium miner short lists three energy giants for 1GW wind and solar plan

Detai Energy Storage 1000MW Vanadium Redox Flow Battery Manufacturing Base Officially Started

China Resources - Dali Annual Output of 2GWh Vanadium Electrolyte Production Project Started!

China Takes the Trade Fight to Europe, Targeting the Green Transition

100MW/400MWh! The first vanadium redox flow battery energy storage demonstration power station project in Sichuan

Shanghai Electric plans to invest 6.6 billion to build a demonstration project for the entire industrial chain of vanadium redox flow batteries and supporting green parks in Xichang

300MW/1200MWh! Lanzhou, Suzhou signed a contract for the vanadium redox flow battery shared energy storage power station project

Beijing Puneng signed a 400 million yuan vanadium redox flow battery energy storage project with Hecheng High-tech Zone, Huaihua City, Hunan Province

100MW/500MWh! Sichuan Panzhihua Vanadium and Titanium High-tech Zone signed a contract with the State Power Investment Corporation for the vanadium redox flow battery energy storage demonstration power station project

Flow battery technology milestones from PNNL and Sumitomo Electric

VoltStorage from Germany unveils vanadium redox flow battery for commercial use

Shanghai Electric Europe's first batch of customized vanadium redox flow batteries shipped to Spain

Shaanxi Jiangong New Energy plans to build a vanadium battery production project with an annual output of 1GW in Golmud

Wontai 300MW all-vanadium liquid flow energy storage equipment production base project in Gansu was put into operation

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 July 31st, 2023 closing)
² LPV’s marked to market average vanadium price blending various products and geographies