Vanadium: A Critical Mineral Catalyst for Grid-Scale Storage
When the United States Geological Survey listed vanadium as a critical mineral in 2022, the announcement came as a public acknowledgement of the metal’s emerging value in the United States. Vanadium has historically proven to be an essential mineral commodity for industrial and aerospace applications. But as it stands today, the vast majority of the United States’ supply relies on imports from foreign countries like Russia and China.
Now, at a time when demand for the critical mineral is growing, a new market for vanadium is also emerging: grid-scale storage.
“About 80 to 90 percent of the vanadium consumption is currently for steel production, because a small percentage of vanadium – about two percent – literally doubles the strength of steel,” said Ron Espell, president of Nevada Vanadium. “But there’s been a growing interest on the battery side with vanadium flow batteries being able to provide grid-level power storage.”
A perennial challenge for renewable energy development has been and continues to be long-duration, grid-scale storage. When renewable sources produce energy, such as when the sun shines or the wind blows, the timing doesn’t always align with the higher energy consumption hours for the general public – typically in the evening.
Vanadium, however, has properties that are conducive for long-duration, grid-scale energy storage. Now, with increasing financial incentives for renewable energy development, the market for vanadium flow batteries appears to be maturing.
“Vanadium flow batteries have been around for a long time,” said Terry Perles, the director of U.S. Vanadium. “If we go back to 1990, there were efforts to commercialize these batteries, but there wasn’t a market. But now, we see the confluence of technology development to build these batteries.”
As a battery source, vanadium has different characteristics compared to its better-known counterpart – lithium-ion batteries. Whereas lithium is conducive to short-term battery applications such as rechargeable electronic devices and cars, vanadium could be more suitable to the long-term storage needs of power grids.
“One of the problems with lithium ion is the fact that you see capacity fade over time,” Perles said. “For a grid-level battery, you’re investing in a technology for 20 or 30 years. After about 800 cycles with a lithium battery, or about three years, you’re going to have to start replacing 20 percent or more of those cells every year because of this issue.”
While known to be generally safe, lithium ion batteries can be a fire hazard if damaged or not stored properly. A vanadium flow battery, however, does not seem to share these risks.
“With the vanadium battery, it’s primarily a water-based solution,” Perles said. “The life of the battery will be defined by the life of the pumps and the plastic piping in the kit, because the vanadium itself is never consumed.”
There’s also economic potential for vanadium, at least in Nevada. The Gibellini Vanadium Project has been proposed for development in Eureka County, with a record of decision by the Bureau of Land Management (BLM) expected before the end of this year. The BLM recently issued the Final Environmental Impact Statement for the mine, which is overseen by Nevada Vanadium Mining Corp. If approved, Gibellini can become operational as soon as 2024 and will be the first domestic mine to primarily extract vanadium.
Despite its potential, however, concerns around the mining operation exist. Traces of uranium have been detected at the site, in addition to common mining-related issues such as groundwater depletion and contamination.
Espell, however, asserts that Nevada Vanadium has developed solutions to mitigate these concerns.
“Creating [uranium] yellowcake, which is the most stable form of uranium, has the least potential impact on human health from a transportation or spilling standpoint and has the highest resale value, so we can actually sell this material as a secondary product,” Espell said. “We’re going to be getting our water from Fish Creek Ranch and by using surface water source, we have no net impact on the water basin. Water would be diverted from hay production and about one pivot of hay is what we’d be taking away.”
Additionally, Espell said the Gibellini mine is projected to be powered with renewable energy – a somewhat novel and unrealistic approach in the traditional mining industry – and one that federal regulators have been encouraging from the beginning.
Nevada Vanadium has entered into an agreement with Hitachi Energy to meet this request with elements of the very resource it aims to advance: vanadium.
“A previous company [at the Gibellini site], designed a six-megawatt solar field with a ten-megawatt vanadium flow battery to be able to provide 100% of the mine’s power needs,” Espell said. “So we dusted that off, brought the technology up to date and put together a proposal for an alternative power source to the [Environmental Impact Statement]. We’re looking at a hybrid vanadium-lithium battery system from Hitachi Energy.”
A hybrid vanadium-lithium battery is unique in that it provides the short-term power capability lithium offers, with the long-term storage capacity of vanadium. Perles acknowledged the potential of a hybrid battery such as the one Nevada Vanadium is proposing, which makes the 10GW solar field near the proposed plant a feasible option to power the mine and serves as a real-time example of vanadium’s increasing value as a critical mineral.
“It’s a good concept,” Perles said. “Typically, [mines] are located in remote areas and so getting power is an issue. To the extent there’s wind or solar, in conjunction with those projects, this battery is a perfect match. We can produce the power whenever the wind blows or the sun shines, but we can deliver it at a very consistent rate to the plant using the battery as the buffer.”
These emerging applications for vanadium, whether in the form of a vanadium flow battery or as a hybrid vanadium-lithium battery, means that demand for the critical mineral is expected to accelerate.
“Just for grid-scale [storage], the global market today is about 125,000 metric tons of vanadium,” Perles said. “Some forecasts suggest that by 2030, we’re going to need 180,000 metric tons of vanadium per year going into these batteries. So in essence, have to more than double the supply base over the next seven years to meet those forecasts.”
Vanadium, however, can be difficult to procure – a driving factor in its listing as a critical mineral.
In the United States, vanadium is either imported, or obtained as a byproduct of other mining operations and chemical recycling. But the Gibellini mine, Espell suggests, will tip the scale toward a more direct, domestic supply chain that may meet the expected surge in demand.
“Right now, about 99 percent of vanadium is imported from Russia, China and South Africa,” Espell said. “This mine will be able to produce approximately 50 to 60 percent of the current consumption of vanadium in the United States, so we’re basically going from zero to 50 to 60 percent of domestically produced vanadium with the Gibellini mine.”
While awaiting a record of decision from the Bureau of Land Management, Nevada Vanadium is now finalizing other formalities in the permitting process before it seeks financing for the project.
“We’re finishing up the feasibility studies and permitting for the project, so we haven’t set up any offtake agreements yet for the vanadium,” said Espell. “But as we go into project financing, our focus is domestic consumption of the vanadium.”
Assuming the Gibellini Vanadium Mine moves forward as proposed, Nevada’s position as a critical mineral and renewable energy leader may be further solidified.
“Nevada prides itself on developing as an energy state,” Espell said. “Not only is [the Gibellini Vanadium Project] good for Nevada in development of energy resources, but the idea of the diversification of critical minerals other than gold provides better economic diversification for the county and the state.”
According to Perles, the Gibellini Vanadium Project’s operations would be coming at the appropriate time.
“There’s plenty of incentives out there right now to support the ongoing development of renewable energy sources,” Perles said. “Everyone’s familiar with lithium ion, but we have to think about new technologies and [vanadium] is a technology whose time has come.”
Nevada Vanadium – Emerging Critical Metal Vanadium Producer in the United States
Vanadium Redox Flow Battery To Control Extreme Power Ramps In Rooftop PV
Researchers in Portugal have tested how vanadium redox flow batteries can be integrated with rooftop PV to balance the system load to ensure firm power output. They proposed a 5 kW/60 kWh battery configuration for a 6.7 kW building-integrated PV microgrid. According to their findings, the battery can be used in different energy management strategy scenarios to better complement solar photovoltaic generation.
The battery has an operating voltage of up to 60 V.
Image: University of Évora
Researchers at the University of Évora (UÉvora) in Portugal have developed a vanadium redox flow battery (VRFB) configuration that is able to control the power output of a PVinstallation by maintaining theramp rate within a non–violation limit and within a battery state of charge (SoC) range.
They explained that a solar system’s ramp rate may have a negative impact on the lifetimes of household appliances and grid stability. “The redox flow battery technology has advantages in the decoupling of power and energy ratios, large cycle life, low maintenance, and limited self-discharge,” they explained. “As for disadvantages, it has a low power density.”
“The vanadium redox flow battery technology can be upscaled up to any capacity, as it can be designed with independent power and energy requirements, an advantage over lithium-ion technology,” the research project’s corresponding author, Ana Catarina Foles, told pv magazine. “The sizing of a battery for this purpose of self-consumption and control of power ramps must be done taking into account the load profile, the characteristics of the solar photovoltaic system, such as installed power, inclination, and orientation, among others, as well as the site characteristics, such as solar radiation, meteorology, and limits imposed by law or regulation on power ramps or grid integration.”
The 5 kW/60 kWh battery was connected to a rooftop PV system with an MPPT inverter capable of receiving power commands in real-time. The battery operates through three inverters synchronized to the local three-phase grid. It was built with two electrolyte tanks containing a mixture of vanadium ions and sulfuric acid, two pumps for electrolyte flowing, and a stack as the energy conversion unit. The latter was fabricated with 40 cells electrically connected in series, and hydraulically connected in parallel.
The battery was provided by UK-based redT energy, which was recently renamed Invinity. The device has a rated capacity of 60 kWh, an operating voltage of up to 60 V, and a capacity of 1.8 cubic meters for each tank. “The rated capacity of this battery is used to its fullest, without causing any degradation of its capacity, lifetime or performance,” Foles explained. “The technology type is very tolerable to over-discharge, and overcharge avoidance is achieved through the open-circuit voltage reference control outside the stack. Vanadium ions exist in both electrolyte tanks and crossover through the membrane stack does not lead to contamination.”
The VRFB is also equipped with a reference cell, which is hydraulically connected in parallel with the stack, subjected to the same electrolyte flow, without being subjected to charge or discharge voltage, and allows to make direct real-time voltage measurements.
The storage device was tested to control the ramp rate of a 6.7 kW building-integrated PV microgrid installed at the university campus. The simulation was performed to analyze how the battery balances the system load to ensure firm power output at the load. Three different strategies were applied: maximization of self-consumption; maximization of self-consumption with ramp-rate control; and self-consumption maximization with ramp-rate control and battery charging based on weather forecasts. Accordingly, three different algorithms were developed using Matlab software.
“The inputs of the simulation model include the constraints details of the UÉvora microgrid, the PV generation and load profiles, the developed VRFB electrical model, and the ramp rate calculus and its premises,” the academics specified, noting that the VRFB architecture may be reproduced in similar projects, with the increased advantage of being an easily scalable product.
Through their measurements, the Portuguese scientists found that approximately 5% of the PV power ramps that occurred were above the rate of 10%/min of the PV nameplatecapacity and that the first strategy performs only a self-consumption maximization without any form of ramp rate control. The second strategy, by contrast, was able to perform ramp rate control by imposing a 10 %/min of the PV nameplate capacity ramp rate limit, while also providing additional stability over the grid energy exchange.
As for the third strategy, it was not only able to perform ramp rate control and maximize self-consumption but was also capable of implementing an SoC control to prepare the battery to better deal with the next–day PV power ramps. “This strategy demonstrated to be able to control 100% of the ramps with rates above 10%/min, maintaining the self-consumption ratio of the PV system at around 61%,” the scientists affirmed.
“The VRFB can be used in different energy management strategy scenarios, and to better complement the solar photovoltaic generation,” Foles emphasized. “In this study, we show that for the goal, which is to control PV power ramps, and given the profiles understudy, more gains are achieved if applied with the third strategy. However, VRFB can be used with the first and the second strategy if the goals are distinct. VRFB technology is a promising energy storage technology for building integration, and this work proves successful results on its real operation implementation.”
The research’s findings can be found in the paper “An approach to implement photovoltaic self-consumption and ramp-rate control algorithm with a vanadium redox flow battery day-to-day forecast charging,” published in Sustainable Energy, Grids and Networks.
www.pv-magazine.com
Silver Elephant Announces Filing of Preliminary Economic Assessment for the Gibellini Vanadium Project, Nevada, USA
Vancouver, British Columbia, October 14, 2021 – Silver Elephant Mining Corp. (“Silver Elephant” or the “Company”) (TSX:ELEF, OTCQX:SILEF, Frankfurt:1P2N) is pleased to announce that, further to its press release dated August 30, 2021, it has filed its independent Technical Report titled “Gibellini Vanadium Project, Eureka County, Nevada, NI 43-101 Technical Report on Preliminary Economic Assessment Update” (the “Report”) with a report date of October 8, 2021 and an effective date of August 30, 2021. The Report was prepared by Wood Group USA, Inc (Wood) and Mine Technical Services Ltd. (MTS). The report has been filed under the Company’s profile on the System for Electronic Document Analysis and Retrieval at www.sedar.com.
About Silver Elephant
Silver Elephant Mining Corp. is a premier mining and exploration company in silver, nickel, and vanadium.
Further information on Silver Elephant can be found at www.silverelef.com.
Neither the Toronto Stock Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Toronto Stock Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking statements in this news release relate to future events or future performance and reflect current estimates, predictions, expectations or beliefs regarding future events and include, but are not limited to, statements with respect to: (i) the 2021 PEA representing a viable development option for the Gibellini project; (ii) construction of mining project operations and related actions; (iii) estimates of the capital costs of constructing mine facilities and bringing a mine into production, of sustaining capital and the duration of financing payback periods; (iv) the estimated amount of future production, both produced and metal recovered; and (vi) life of mine estimates and estimates of operating costs and total costs, cash flow, net present value and economic returns including internal rate of return estimates from an operating mine constructed at the Gibellini project. All forward-looking statements are based on Silver Elephant’s or its consultants’ current beliefs as well as various assumptions made by them and information currently available to them. The most significant assumptions are set forth above, but generally these assumptions include: (i) the presence of and continuity of vanadium mineralization at the Gibellini project at estimated tonnages and grades; (ii) the geotechnical and metallurgical characteristics of rock conforming to sampled results; (iii) infrastructure construction costs and schedule; (iv) the availability of personnel, machinery and equipment at estimated prices and within the estimated delivery times; (v) currency exchange rates; (vi) vanadium sale prices; (vii) appropriate discount rates applied to the cash flows in the economic analysis; (viii) tax rates applicable to the proposed mining operation; (ix) the availability of acceptable financing on reasonable terms; (x) projected recovery rates and use of a process method, that although well-known and proven on other commodity types such as copper, has not been previously brought into production for a vanadium project; (xi) reasonable contingency requirements; (xii) success in realizing proposed operations; and (xiii) assumptions that project environmental approval and permitting will be forthcoming from county, state and federal authorities. The economic analysis is partly based on Inferred Mineral Resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as Mineral Reserves, and there is no certainty that the2021 PEA based on these Mineral Resources will be realized. Currently there are no Mineral Reserves on the Gibellini property. Although the Company’s management and its consultants consider these assumptions to be reasonable based on information currently available to them, such assumptions may prove to be incorrect. Many forward-looking statements are made assuming the correctness of other forward-looking statements, such as statements of net present value and internal rates of return, which are based on most of the other forward-looking statements and assumptions herein. The cost estimate and economic analysis information was prepared using current values, but the time for incurring the costs will be in the future and it is assumed costs will remain stable over the relevant period. These factors should be considered carefully, and readers should not place undue reliance on Silver Elephant’s or its consultants’ forward-looking statements. Silver Elephant and its consultants believe that the expectations reflected in the forward-looking statements contained in this news release and the documents incorporated by reference herein are reasonable, but no assurance can be given that these expectations will prove to be correct. In addition, although Silver Elephant and its consultants have attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Silver Elephant and its consultants undertake no obligation to release publicly any future revisions to forward-looking statements to reflect events or circumstances after the date of this news or to reflect the occurrence of unanticipated events, except as expressly required by law. Powered by TCPDF (www.tcpdf.org)
Fujian Sanming Vanadium-Nitrogen Bidding Price On 3 Nov 2020
Bushveld Minerals, redT Energy Set Up Vanadium Battery Partnership
Bushveld Minerals Ltd on Monday announced a joint venture with redT Energy PLC, an energy storage firm.
Bushveld, a vanadium miner with assets in South Africa which also has an energy storage business, said the partnership will see vanadium electrolyte be used in third party-owned vanadium redox flow battery projects developed by redT.
The joint venture will focus on vanadium redox flow battery projects in Europe over an initial period of two years. Its initial target will be 15 megawatt hours of batteries to the market, needing 80 metric tonnes of vanadium from Bushveld.
Bushveld Chief Executive Fortune Mojapelo said: “Driving vamadium redox flow battery adoption will allow Bushveld to command meaningful market share in the growing stationary energy storage market whilst growing long term, structural demand for vanadium.
“Costs to users will be key. On a lifecycle basis vamadium redox flow batteries are competitive but reducing upfront capital costs will speed market wide take-up versus rival technologies. The rental model Bushveld is pioneering will reduce purchase and installation costs, taking advantage of the re-usability and consequent positive residual value of the vanadium electrolyte.”
“In addition, the electrolyte rental model, along with structurally higher demand, will reduce volatility in vanadium prices,” Mojapelo continued.
“This joint venture will deepen and strengthen our relationship with redT and allow Bushveld to develop further expertise in financial modelling and legal structuring of the vanadium electrolyte rental model.”
redT in its own statement said it was “pleased” to announce the partnership with Bushveld.
redT also said Monday it has got the go ahead for the Energy Superhub Oxford project, meaning it can now start production five megawatt hours worth of vanadium redox flow batteries.
The project is a three-year, GBP41 million development part-funded by the UK government. The agreement will Bushveld will supply the vanadium needed.
Bushveld shares were 7.8% lower on Monday shortly after midday in London at 15.68 pence each.
redt shares are currently suspended. In July it announced a merger with Avalon Battery Corp, which is deemed as a reverse takeover under AIM rules, hence the trading suspension.
The merger is a share-for-share acquisition of Avalon by redT, with redT shares valued at 1.65 pence each, valuing Avalon at USD37.5 million.
www.ferroalloynet.com
State Council: Tariff Exclusion Applications Allowed For Some Companies
On February 18th, Customs Tariff Commission of the State Council issued a notice, which noted that the commission will accept applications from companies in China starting from March 2nd, and review applications “one by one” before the tariff exclusion. Companies which can get approval should meet certain standards and purchase products from the US based on “market-oriented and commercial principles”. The tariff exclusion is for the additional levies China imposed on US imports as countermeasures against Section 301, it said.
www.asianmetal.com
Energy Fuels CEO: We Have the Only Vanadium Processing Plant in North America
Date: Feb 12, 2019
Energy Fuels‘ (TSX:EFR,NYSEMKT:UUUU) Mark Chalmers feels optimistic about the future prospects for both the uranium and vanadium markets. As the largest uranium producer in the US and the only primary producer of vanadium in the country, Energy Fuels is positioned to capitalize on the strategic interest of the US on these two critical materials.
Energy Fuels‘ (TSX:EFR,NYSEMKT:UUUU) Mark Chalmers feels optimistic about the future prospects for both the uranium and vanadium markets. As the largest uranium producer in the US and the only primary producer of vanadium in the country, Energy Fuels is positioned to capitalize on the strategic interest of the US on these two critical materials.
In the interview below, Chalmers describes the landscape for both the uranium and vanadium markets, particularly with regards to their role in the green economy. He also addresses what it means to be a US-based producer in a time where the country is focused on developing domestic production of critical materials.
Investing News Network: How is it that your company is positioned for growth in the green economy? What makes your properties key to supplying increasing demand in that sector?
Energy Fuels CEO Mark Chalmers: I think that the fact that we are producers of both uranium and vanadium really is a differentiator for the company. We’re the largest producer of uranium in the US, and the only primary producer of vanadium. That is a unique combination because you have baseload energy with uranium and vanadium is getting increasing attention for renewable energy storage, as well as its common use as a steel strengthener. I’m proud of how we are positioned in this space.
INN: Let’s talk about the growing demand for uranium. If we’re going to be moving to greener sources of power generation, we’re going to need uranium.
MC: Correct. I think that there’s a growing realization that you cannot get there with renewables alone. Nuclear power use is growing particularly in Asia, India and is pretty stable in the other parts of the world. You’re not going to get there without a clean baseload energy like nuclear.
INN: There’s a sense that nobody is building nuclear power generation plants any longer. That’s not true, is it?
MC: No it’s not true. Most of the growth is in China, India, and of course, there are a number of reactors that are being constructed today. There’s a few in the US and in Europe, but the growth is definitely in these developing countries.
Canada Battery Maker Says Flow Storage Costs to Tumble by Half
Date: Dec 25, 2018
CellCube Energy Storage Systems Inc., a Canada-listed maker of batteries that can last for as long as two decades, said the cost of its technology may halve within four years, potentially boosting its uptake over lithium-ion units.
Costs of its vanadium redox flow battery units, which can discharge power for four hours, will decline to $150 per kilowatt hour from $300, President Stefan Schauss said in a phone interview from Toronto this month. Batteries with eight hours of duration will slump to $100 from $200, he said.
Utilities and renewable energy suppliers are increasingly looking to store intermittent wind and sun-generated power to balance out power flows to grids and deploy the electricity when demand peaks. About $620 billion in investment will be required to meet the global energy storage needs that will surge to a cumulative 942 gigawatts by 2040, according to Bloomberg NEF.
“The stationary energy storage market is in an inflection point,” said Schauss, adding that users increasingly prefer storage with longer duration. Combined with falling costs of flow batteries, “lithium batteries may have a hard time to compete.”
