June Monthly Vanadium News

Vanadium's Rising Prominence in Energy Storage

Recent innovations and noteworthy milestones in the vanadium sector reflect an ongoing dedication to sustainability and energy efficiency.

Foremost among these is the commencement of construction on Zhejiang Junyang New Energy’s 1GW/4GWh vanadium flow battery core industrialization project in Dunhuang City. This monumental project represents a $2-billion-yuan (approximately USD$270MM) investment highlighting the growing confidence in vanadium flow batteries (VFBs) to meet escalating energy demand, sustainably. For reference, at its full scale, the 4 GWh project would require approximately 40,000 tonnes of vanadium pentoxide (V2O5) equivalent, or 18% of the current’s world’s vanadium production.

In addition to this landmark project, Invinity Energy Systems has made significant strides in the UK by expanding its flow battery assembly capacity to over 500 MWh annually.This expansion underscores the increasing demand for VFBs and their critical role in global energy storage infrastructure. Furthermore, Invinity's involvement in powering California's solar micro grid project further solidifies the global recognition and implementation of vanadium-based energy storage systems.

Australian Vanadium Ltd. (AVL) continues to advance its ambitious pit-to-battery strategy, receiving a substantial milestone payment of AUD$14.7 million as part of the Modern Manufacturing Initiative. This funding is vital for developing a comprehensive value chain from vanadium extraction to battery production, positioning AVL asa leader in the vanadium industry and significantly contributing to the global supply chain.

The successful connection of the Sungrow Taiyang Phase II 1 MW/2 MWh VFB Energy Storage Project to the grid in Taierzhuang demonstrates the efficacy of VFBs in providing reliable and scalable energy storage solutions. Such achievements are crucial as they pave the way for a more resilient and efficient renewable energy grid.

Collectively, these milestones highlight the critical role of vanadium in transforming energy storage, supporting renewable energy integration, and driving towards a greener future. At Largo Physical Vanadium, we are committed to harnessing these opportunities and leading the charge in the vanadium revolution. Our investment strategies remain focused on capitalizing on these advancements to deliver sustainable value to our stakeholders.

Thank you for your continued support and trust in our vision. Together, we are not just investing in vanadium; we are investing in a sustainable future.

Largo Physical Vanadium Update – June 2024¹

LPV’s (VAND:TSXV,VANAF:OTCQX) net assets are over 90% held in physical vanadium products. LPV’s net asset value (“NAV”) is now at C$1.53/share, implying that our closing share price as of June 30, 2024, was trading at a 32.7% discount.

Largo Physical Vanadium Update – June 2024¹

LPV’s (VAND:TSXV,VANAF:OTCQX) net assets are over 90% held in physical vanadium products. LPV’s net asset value (“NAV”) is now at C$1.53/share, implying that our closing share price as of June 30, 2024, was trading at a 32.7% discount.

Recent Vanadium News

Sungrow Taiyang Phase II 1MW/2MWh Vanadium Flow Battery Energy Storage Project in Taierzhuang Successfully Connected to the Grid

Energy Storage Sites Earmarked to Keep the Lights On

Invinity Expanding UK Flow Battery Assembly to More than 500MWh Annual Capacity

AVL Advances its Vanadium Pit-to-Battery Strategy

Leading the Way to a Greener Future: Shanghai Electric Unveils Advanced Renewable Energy Solutions at Carbon Neutrality Expo

Quick Question: How do Vanadium Flow Batteries Stabilise a Renewable Grid?

Vanadium Flow Batteries Redefine Clean Energy Storage

The First Phase of the Wontai Power Guazhou Project, with an Annual Output of 10,000 Cubic Meters of Vanadium Electrolyte, is Scheduled to Start Trial Production in August This Year

Invinity Powers California’s Solar Microgrid Project

The Vanadium-Titanium New Material and Energy Storage Battery Integration Project with a Total Investment of 20 Billion Yuanwas Launched in Naiman Banner, Tongliao City

NTPC Issues Tender For 600kw/3000kwhr Vanadium BESS

Australian Vanadium Receives $14.7 Million in Modern Manufacturing Initiative Milestone Payment for Vanadium Pit-to-Battery Value Chain

Zhejiang Junyang New Energy 1GW/4GWh Vanadium Flow battery core Industrialization Project Started Construction in Dunhuang City

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

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¹ Key Metrics (as of June 2024 closing)

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