Date: Dec 11, 2018
Battery metal explorer VanadiumCorp Resource (TSXV:VRB) has penned an exclusive patent option agreement with Ultra Power Systems, granting the latter access to the VanadiumCorp-Electrochem processing technology (VEPT) in Australia.
According to the announcement, Ultra Power Systems plans to use the exclusive VEPT license to speed up construction of the world’s first dedicated vanadium-processing facility.
“This agreement represents a new chapter for VanadiumCorp with the benefit of cash flow and a realistic commercialization pathway for VanadiumCorp and Electrochem’s jointly developed green processing technology,” VanadiumCorp CEO Adrian Bakker said in the press release.
He continued: “Our vision to establish the most efficient and sustainable solution for energy storage is within reach years sooner than anticipated.”
The vanadium extraction technology deal allows all three companies to manifest their vision of reducing carbon footprints, creating renewable energy storage solutions and supplying vanadium to a number of growing sectors.
