Vanadium is an important element. It is on the U.S Governments list of “Critical Minerals.” Vanadium is primarily used in high-strength steel, titanium, aluminum and other alloys, along with certain applications in the chemical industry. High-purity vanadium is also seeing considerable interest in battery technologies, primarily as a catalyst used in high-capacity batteries used for storage of energy.
Vanadium Battery Opportunity
Vanadium based batteries are also known as V-flow batteries. They are known to have longer lifetimes, lower heat levels, and limited risk of combustion when compared to lithium-ion batteries. Unlike solid batteries, like lithium-ion or lead-acid, that begin degrading after a couple of years, Vanadium batteries are fully reusable over semi-infinite cycles and do not degrade in performance, giving them a very long life. V-flow batteries also become more cost effective the longer the storage duration and the larger the power and energy needs. Which make them great for renewable energy projects. Vanadium batteries are the best technology for stationary energy storage applications because they are able to provide hundreds of megawatt hours at grid scale. That means they can be charged thousands of times without losing capacity, while holding large amounts of energy. This is a proven technology with features like long-scale duration, sometimes in excess of 25 years, and no self-discharge and memory effect. With lithium ion batteries the user may be forced to install additional capacity to compensate for their decay.
Vanadium makes Lighter and Stronger Metals
Due to its unique properties, vanadium is an important component in creating high-strength, light-weight metallic alloys. Vanadium’s primary use is in strengthening steel. Considerable growth in vanadium consumption is forecasted due to the increasing use of vanadium in high-strength steel in developing countries, along with the growing use of vanadium in other specialty alloys including those used in the aerospace industry.