VanadiumCorp completes first battery order, contract and MoU with Ecosource

VanadiumCorp Resource Inc. (TSX-V: “VRB”) has announced that it’s wholly owned subsidiary in Germany, VanadiumCorp GmbH has signed an order and contract for a vanadium redox flow battery system and a Memorandum of Understanding with Belgian Ecosource NV, a Cordeel Group NV company. Both companies plan to jointly manufacture vanadium redox flow battery systems and share a vision to develop integrated clean energy solutions.

Order and Contract
VanadiumCorp has recently contract manufactured and deployed a 12.5 kilowatt / 40 kilowatt hour system for delivery to Ecosource in Temse, Belgium. Commissioning and training will commence immediately upon delivery. The vanadium redox flow battery system will be utilized for demonstration and field testing to assess utilizing the system for megawatt to gigawatt green energy applications.

Memorandum of Understanding
The MoU describes the developments and objectives that VanadiumCorp GmbH and Ecosource agree to explore together. Within the MoU, both parties undertake to investigate the feasibility of vanadium redox flow battery system manufacturing and negotiate the terms and conditions of the following:

  • A joint venture enabling megawatt to gigawatt manufacturing potential
  • Round one investment into VanadiumCorp GmbH through the purchase of securities of VanadiumCorp Resource Inc, the price of which is determined at the time of signing, timed with success of the first VRFB commissioning.
  • Funding the CAPEX for commercial VRFB production
  • Integration of renewable energy technologies
  • Stationary and mobile energy storage applications
  • Development of intellectual property, know-how, partnerships and mineral resources owned by VanadiumCorp as the leading position to mitigate the cost and carbon footprint of VanadiumCorp VRFB technology.
  • Full press release HERE
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