Sichuan Vanadium Rong Energy Storage Technology Co., Ltd., jointly invested by Vanadium & Titanium Co., Ltd. and Dalian Rongke, plans to build an electrolyte production line in Panzhihua City in 2022 to achieve a capacity of 2000 m3/year, and is expected to be completed and put into operation in the first half of 2023. Later, both parties will negotiate to build a larger scale production line according to market conditions.
As for the application of vanadium products, Vanadium & Titanium said that about 5,000 tons of vanadium products of the company will be directly used in the energy storage field this year. According to the 2023 Framework Agreement on Cooperation of Vanadium attery Energy Storage Raw Materials signed by the company and Dalian Rongke, if all the transactions are successfully implemented, it is estimated that about 8,000 tons of vanadium products will be used for energy storage in 2023, and Vanadium & Titanium Co., Ltd. will use nearly 20% of vanadium products in the energy storage field in 2023.
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