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.
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.
