VanadiumCorp Resource Inc (TSX-V:VRB) told investors that the construction of its first facility for the manufacturing of vanadium electrolytes is on track, with production set to kick off in the first quarter of 2024.
The company said it has taken possession of its site at the Carrefour d’Innovation sur les matériaux de la MRC des Sources (CIMMS) facility in Val-des-Sources, Québec, and engineering designs are complete.
All the major equipment has been procured and is ready for installation upon the arrival of the electrochemical equipment from the United Kingdom in early October.
Additionally, the company noted that it has contracted for the initial feedstock supplies for the manufacturing process.
As previously announced by the company, VanadiumCorp has entered into a cooperation agreement with CIMMS to initially produce up to 360,000 litres per year of high-quality vanadium electrolyte for use in Vanadium Redox Flow Batteries (VRFB), and the initial test facility can provide up to 6.8 MWh of VRFB storage per year.
"As we move towards assembly and commissioning of our first electrolyte facility, VanadiumCorp can now turn our attention to how best to support VRFB manufacturers with their key ingredient for success in deploying the best long-duration batteries on the market,” VanadiumCorp CEO Paul McGuigan said in a statement.
VanadiumCorp seeks to produce a reliable stream of high-quality vanadium electrolytes for the expanding international market for long-duration Vanadium Redox Flow Batteries (VRFB).
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