The Vanadium Redox Flow Battery (VRFB) has been the first redox flow battery to be commercialized and to bring light to the flow battery technology. Thanks to the work performed by Monash university’s professor Maria Skyllas-Kazacos on VRFB over the 1980s, this technology is gaining field to the world adopted energy storage system, lithium-ion battery.
In the latest update of the IDTechEx report, “Redox Flow Batteries 2021-2031”, a substantial forward-looking approach has been assumed in forecasting the trend of adoption of this technology, with a multi-billion market size in 2031.
Ferro-Alloy Resources Limited (LON:FAR) is developing the giant Balasausqandiq vanadium deposit in Kyzylordinskaya oblast of southern Kazakhstan. The ore at this deposit is unlike that of nearly all other primary vanadium deposits and is capable of being treated by a much lower cost process.