Primary vanadium producer Largo Resources has closed a deal to supply its first grid-scale vanadium redox flow battery (VRFB) system.
The company’s VRFB subsidiary said last month that it was negotiating the deal with customer Enel Green Power España, for a 1.22MW / 6.1MWh (five-hour duration) system to be installed at an Enel site in Spain. That deal was contingent on Largo receiving a notice to proceed from the customer and on 30 July announced that it had. It is now expected to be commissioned in Q4 2022.
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Largo Resources is listed on the Toronto Stock Exchange, is only one of three primary vanadium producers in the world and operates a mine in Brazil, while its battery system subsidiary is based in the US.
The company hosted a ‘Battery Day’ in June, where it said that it is targeting the production of 180MW / 1,400MWh of VRFBs by 2025 and 40MWh of deployments in 2022 and pointed out that it believed vanadium sold — or even rented — into the energy storage industry could be worth about twice as much per pound as vanadium sold to the steel industry, which is the main existing off-taker for the metal.