While the Li-ion energy storage market has seen unprecedented growth, to the point of element shortages, Vanadium may be the better technology for several grid-connected applications.
It now appears that the vanadium has a shot a taking the lead in energy storage for grid-connected applications, large-scale energy storage operations, and any operation whose chief concerns are sustainability and safety.
Vanadium, an element previously used to create strong steel alloys, is now being recognized as a key component in safer, longer lasting batteries. Currently, there are no significantly active vanadium mines in North America and even with the surge in demand, most supply still comes from China, Russia, or Africa
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.