Transitioning away from fossil fuels is a challenging task, particularly due to the limitations of current energy storage technologies like lithium-ion batteries, which typically last only a few hours. For future energy storage needs, systems must provide power for at least half a day or more. Encouragingly, new long-duration storage solutions, such as flow batteries, are emerging.
Despite their short duration, lithium-ion batteries are expected by the US Department of Energy to replace gas “peaker” plants used during peak demand. However, replacing continuously operating baseload gas power plants requires longer-duration systems. Pumped hydropower, a mature technology, remains dominant but is geographically and environmentally constrained, still accounting for about 95% of long-duration storage capacity in the US.
Emerging technologies like compressed air and thermal storage systems offer more flexibility. Flow batteries, utilizing two specialized fluids that generate electricity when in motion, are also gaining attention. Vanadium, a non-toxic and relatively inexpensive metal abundant in nature and recoverable from industrial waste, is a preferred choice for flow batteries due to its favourable properties.
Ferro-Alloy Resources Ltd (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.
