American Vanadium has engaged Hanlon Engineering to evaluate the installation of renewable energy generation for the Gibellini Project site in central Nevada. The system would include a vanadium flow battery combined with integrated solar and wind electric power generation capable of providing energy in excess of the needs of the proposed Gibellini Mine.
“We are taking a leadership role in the development of the vanadium flow battery industry in North America based on having the only significant US based vanadium deposit in the development stage,” stated Bill Radvak, President & CEO of American Vanadium. “Demonstrating the viability of renewable power generation combined with vanadium storage batteries to power mining projects is important to both our corporate strategy and our environmental commitment to green energy at the Gibellini.”
“In its March 2012 forecast, Lux Research, Inc., estimates grid storage demand will be $113 billion by 2017 at which time Vanadium Flow Batteries are expected to become the battery leader with a 33% market share,” continued Mr. Radvak. “This highlights the growing value of having the only significant in-ground supply of vanadium in the US.”
American Vanadium is currently developing the only vanadium mine in the United States. This strategic asset gives the Company the opportunity to vertically integrate itself and its vanadium production into the highest value market, grid energy storage. American Vanadium will be seeking major joint venture partners in the solar, wind and grid-scale battery manufacturing industries.
The Company’s Gibellini Project, located in Nevada, is unique in its design to economically produce vanadium electrolyte for the energy storage industry, as well as vanadium pentoxide for the steel and alloying industries.