The vanadium redox flow battery (“VRFB”) is the first battery of its kind to be commercialized and is gaining popularity in the global energy storage system market. The most recent report on redox flow batteries by IDTechEx show that redox flow batteries will be adopted extensively in the near future, as interest in it grows.
The large adoption of redox flow battery systems doesn’t imply that lithium-ion batteries will cease to exist in the market but that both systems will be addressing different needs. IDTechEx expects lithium-ion batteries to primarily be used for short-duration storage, noting that the range addressed by these batteries may grow as time goes by. On the other hand, the vanadium redox flow battery will be used for long-duration storage as it can store a large amount of energy for long periods of time.
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.
