Date: Mar 29, 2018
March 27, 2018 – “We actually go directly into solution whereas every other producer creates an oxide that is impure and a very high cost to turn into an electrolyte. By the recovery of the co-products, iron and titanium, we are able to mitigate our cost. Our pure mandate and our goal was to eliminate the cost of producing vanadium and eliminate the carbon footprint, which we feel we have done.” states Adriaan Bakker, President and CEO of VanadiumCorp Resource Inc. (TSXV: VRB), in an interview with InvestorIntel’s Jeff Wareham.
Jeff Wareham: Adriaan you guys have just had some huge news. Let us start right with the good stuff.
Adriaan Bakker: Sure. We just filed our international patent on a technology that we have been developing and scaling; invented just over 15 months ago. We had a breakthrough in processing magnetite resources, which are the ultimate source for vanadium. Spent the last 10 years developing those resources to realize that existing processes are basically outdated, inefficient, low yield, high capex, and just not a favorable route to go down.
Jeff Wareham: A lot of our investors have heard about vanadium and that there is an opportunity in the market, but may not know a lot about it. What do we need to know about the vanadium market?
Adriaan Bakker: The biggest opportunity in the vanadium market is really in energy storage. We identified some key facts in the vanadium market. Number one being vanadium electrolyte that is required by batteries is a non-existent commodity. It is created by an offshoot of production from the steel industry from this inefficient type of production. There is just not enough vanadium available to go into energy storage.
Jeff Wareham: When we were talking a little bit before you said that, but you also said that you thought you guys were going to change that. Tell me why you feel that way.
