Vanadium-Energiespeicherprojekt abgeschlossen

The VRFB deployment forecast by Guidehouse Insights would equate to between 127,500 and 173,800 tons of new vanadium demand per year by 2031, according to Vanitec

What is the vanadium recovery project?

The Vanadium Recovery Project, a joint venture between Australian companies Critical Metals Ltd and Neometals Ltd, paves the way for a significant increase in high purity vanadium (V) production and self-sufficiency in Europe. The plant is to be situated in Pori, Finland.

Who consulted on the vanadium recovery project?

Sweco Finland has consulted on the Vanadium Recovery Project since 2021, being responsible for the environmental impact assessment, supporting technical assignments and the feasibility study. The ongoing permitting process is expected to complete late 2022 whereafter an investment decision will be considered.

How much vanadium will be produced by 2031?

The VRFB deployment forecast by Guidehouse Insights would equate to between 127,500 and 173,800 tons of new vanadium demand per year by 2031, according to Vanitec calculations based off Guidehouse’s projection. That would be more than twice as much vanadium as is currently produced annually today.

What is vanadium used for?

The vanadium can be used in energy storage solutions such as vanadium redox flow batteries, specialty steel applications and next generation lithium vanadium cells.

Can vanadium be used in VRFBs?

Vanitec, the not-for-profit international global member organisation whose objective it is to promote the use of vanadium-bearing materials, says that while vanadium is mainly used within the steel industry, vanadium is increasingly being recognised for its use in VRFBs.

Are VRFBs a major source of new demand for vanadium?

Many vanadium industry stakeholders see VRFBs as a major source of new demand for the metal that has traditionally been used in steel alloys,” states Mikhail Nikomarov, Chairman of the Vanitec Energy Storage Committee (ESC) and CEO of Bushveld Energy.