September Monthly Vanadium News

We are happy to share with you exciting vanadium industry developments as we look to become the voice of this unique commodity. Vanadium prices declined sharply this month on the back of weak demand, particularly in the steel industry and China. However, as you will read below, the sector continued to gain global recognition for its vital role in energy storage.

Reshaping the Global Energy Storage Landscape

September was a busy month in the world of vanadium, 
solidifying its position as a cornerstone of the global energy revolution.

Starting with the groundbreaking development in northern Guilin, we see a demonstration of faith in vanadium's role in the modern energy ecosystem. The ambitious 730-million-yuan project in Xing'an County is a testament to the evolving integration of vanadium energy storage systems alongside lithium batteries. It's not just about power optimization – it's about reinventing how regions can foster cleaner, smarter, and more sustainable power infrastructures.

Then there's the spectacular achievement of Star New Energy, announcing the world's first fully automated vanadium flow battery factory. In a record time of just three months, they have unveiled a gigawatt production line, emphasizing the rapid acceleration in the demand and application of vanadium technologies.

Furthermore, Invinity Energy Systems has made tremendous strides in securing and fulfilling strategic partnerships. Their vanadium redox flow battery, Mistral, caught the attention of Everdura Technology Company in Taiwan, further expanding the horizons for vanadium application across continents. Another noteworthy achievement is the commencement of Invinity’s 8.4 megawatt-hour vanadium flow battery at the Chappice Lake project in Canada, showcasing the versatility and scalability of vanadium battery technology.

It's impossible to overlook the U.S. Department of Energy's commitment of $325 million towards long-duration energy storage projects. Among the awarded projects, it's interesting to note the inclusion of vanadium flow batteries from Invinity, cementing the U.S. government's belief in the potential of vanadium-centric solutions.

To support the future increase in demand for vanadium, Australian Vanadium and Technology Metal have agreed to join forces in a A$217 million merger to create a leading vanadium developer with a world-class asset of scale in Australia.

Lastly, a significant partnership also unfolded between Bushveld Minerals and Southern Point Resources, underlining the value proposition that vanadium offers. This partnership, potentially bringing substantial investments between $69.5m and $77.5m, indicates the ever-growing confidence major stakeholders have in the vanadium sector. This collaboration, emphasizing increased production and cost optimization, showcases the strategic importance of vanadium in the broader mining and energy industry.

As these stories highlight, vanadium is not just a mineral; it's becoming a global movement – one that will shape the future of energy, innovation, and sustainability. We, at Largo Physical Vanadium, are both excited and humbled to be part of this journey.

Stay tuned for more as we continue to track and be at the forefront of this transformative shift.

Largo Physical Vanadium Update - September 2023¹

LPV’s net assets are over 95% held in physical vanadium products. LPV’s net asset value (“NAV”) is now at C$1.80/share, implying that our closing share price as of September 30, 2023, was trading at a 2.3% premium.

Recent Vanadium News

The shared energy storage power station project in northern Guilin is settled in Xing’an, with a total investment of approximately 730 million yuan

Star New Energy fully automated vanadium flow battery factory will be put into operation soon

Bushveld announces big partnership plans with Southern Point Resources

Largo Physical Vanadium to use VRFBs to store physical vanadium (subscription)

Invinity’s newest flow battery chosen as ‘non-lithium alternative’ by strategic partner Everdura in Taiwan

Invinity Energy says partner begins operating battery in Canada

Long-duration storage gets big boost with $325M from DOE

U.S. DOE funding for Invinity vanadium flow batteries

AVL and TMT Agree A$217 Million Merger