When you are competing with mass-produced lithium-ion batteries, every bit of cost reduction counts.
The dominant energy storage technology benefits from massive economies of scale. Flow batteries, a major class of alternative storage technologies, lack that scale, and some require vanadium, a material whose price has shot up in the last three years.
A new business model innovation could lower the price for vanadium flow batteries, nudging them closer to competitiveness with lithium: rentable electrolytes.
Bushveld Minerals Limited (LON:BMN), together with its subsidiaries, engages in the exploration and development of mineral projects in South Africa. It operates through three segments: Vanadium and Iron Ore, Coal Exploration, and Vanadium Mining and Production.