Golcap Resources Corp. Discusses Vanadium and Long-Duration Energy Storage

Currently, steel production consumes most of the world's vanadium, with growing amounts used in high-tech, defence applications and in the electrolytes for VRFBs. The projected growth of VRFBs will require double today's annual global production of Vanadium by 2030. This demand, along with Western countries' dependence on imports of vanadium, has started to become an area of concern, reportedly within the US military as well as by other industry observers.

Renewable energy is becoming a larger proportion of globally consumed energy, making long-duration energy storage key to maintaining a stable supply of electricity, for industry and consumers alike. Energy storage is also used as a grid management tool for non-renewable energy grids, especially given the incredible growth in demand from data centres. It is estimated that globally there will be 8 times as much energy storage added this year than in 2021. In addition, China is installing VRFBs at an impressive rate - significantly more than lithium-ion storage systems.

VRFBs have specific technical advantages over lithium-ion batteries, including the ability to be fully discharged, and excel if required to be charged multiple times per day. VRFBs also have no thermal runaway risk, have a longer life and are more recyclable than lithium-ion. More importantly, Vanadium Redox Flow Batteries have a lower cost of ownership. By using VRFBs for utility-scale storage, the world can serve the incredible energy demand arising from both electrification and data centres.

Golcap is intent on expanding its knowledge base necessary to take advantage of our view on the future breakout of long-duration energy storage and vanadium.

Garry Stock
Director

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