Green Tech Vanadium Boom in Nevada

Piper Jaffray, a leading investment bank, predicts the market for energy storage will be worth $225 billion by 2020. Largely driving that growth will be the "Holy Grail" of renewable energy: grid scale energy storage in a "dispatchable power" format. Dispatchable power enables utilities to deliver specific amounts of electricity at specific times, making renewables such as wind and solar grid-friendly. Dispatchable grid scale energy storage appears to finally be within reach; scientists at the U.S. Department of Energy have acknowledged the potential of vanadium redox flow batteries (VRBs) to "potentially increase the use of wind, renewable energy, and other renewable power sources across the grid." In the electric vehicle (EV) industry, Lithium Vanadium Phosphate batteries have the highest energy density, and represent the only battery chemistry that has taken a car 600 kilometers (~370 miles) on a single charge. Evidently, if you are going to compete with the internal combustion engine, vanadium is key.

Meet American Vanadium Corp.,, (TSV.V: AVC), a company developing the only dedicated vanadium mine in the U.S. The company's Gibellini Project -- a world-class vanadium resource in Nevada -- is targeted to begin production in 2013. Leveraging the development of America's only domestic vanadium mine, the company's mission is to become a strategic supplier of vanadium for products such as grid scale batteries for the energy sector and Lithium Vanadium Phosphate batteries for EVs.

"Vanadium flow batteries are seen as key to bringing renewable energy into the mainstream," says Bill Radvak, President, CEO of American Vanadium Corp. "The vanadium flow battery shows enormous potential as an energy storage solution. In fact, it is the only battery technology today capable of powering everything from a residence, to the storage demands of a power grid. They can store electricity from alternative energy sources including wind and solar, and can modulate the intermittent production of electricity from these sources to produce dispatchable power to the grid. By leveraging our unique supply of vanadium electrolyte, American Vanadium aims to lead in the production of vanadium for the flow batteries in U.S."
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