Largo Resources Receives Notice to Proceed on Its Battery Sales Contract with Enel Green Power España
Largo Resources has received a notice to proceed (NTP) on its sales contract with Enel Green Power España for a 6.1 MWh VCHARGE± battery system in Spain. CEO Paulo Misk expressed enthusiasm about the partnership, emphasizing the company's commitment to delivering clean energy solutions. Largo Resources is known for its VPURE™ and VPURE+™ vanadium products and is focused on renewable energy storage through VCHARGE± technology. The company operates from one of the world's highest-grade vanadium deposits in Brazil.
- Received NTP for a 6.1 MWh VCHARGE± battery contract with Enel Green Power España.
- Strengthens partnership with a reputable energy provider, enhancing market credibility.
- Forward-looking statements may be subject to various risks, including potential agreement termination.
Largo Resources Ltd. ("Largo" or the "Company") (TSX: LGO) (NASDAQ: LGO) is pleased to announce that it has received a notice to proceed (“NTP”) on its previously announced sales contract with Enel Green Power España for the delivery of a 5 hour 6.1 MWh VCHARGE± system located in Spain.
Paulo Misk, President and CEO for Largo, stated: “We are thrilled to be working with a reputable partner such as Enel Green Power España and to starting the activities required to deliver on the contract.” He continued: “We look forward to the successful deployment of this system and to delivering additional clean energy solutions to customers in the future.”
About Largo Resources
Largo Resources is an industry preferred, vertically integrated vanadium company. It services multiple vanadium market applications through the supply of its unrivaled VPURE™ and VPURE+™ products, from one of the world’s highest-grade vanadium deposits at the Company’s Maracás Menchen Mine located in Brazil. Largo is also focused on the advancement of renewable energy storage solutions through its vertically integrated VCHARGE± vanadium redox flow battery technology. The Company's common shares are listed on the Toronto Stock Exchange and on the Nasdaq Stock Market under the symbol "LGO".
For more information on Largo and VPURE™, please visit www.largoresources.com and www.largoVPURE.com.
For additional information on Largo Clean Energy, please visit www.largocleanenergy.com.
Forward-looking Information:
This press release contains forward-looking information under Canadian securities legislation, ("forward-looking statements"). Forward‐looking information in this press release includes, but is not limited to, statements with respect to our ability to market and sell our VCHARGE± battery system on specification and at a competitive price, the production, delivery and sale to Enel Green Power of a VCHARGE+ battery system, the design of that system, expected transaction value, future VCHARGE+ battery system sales, and the growth of the long-duration energy storage market. Forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". All information contained in this news release, other than statements of current and historical fact, is forward looking information. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Largo or Largo Clean Energy to be materially different from those expressed or implied by such forward-looking statements, including but not limited to the failure to satisfy conditions in the agreement with Enel, termination of the agreement, and those risks described in the annual information form of Largo and in its public documents filed on www.sedar.com and www.sec.gov from time to time. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made. Although management of Largo has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Largo does not undertake to update any forward-looking statements, except in accordance with applicable securities laws. Readers should also review the risks and uncertainties sections of Largo's annual and interim MD&As which also apply.
Trademarks are owned by Largo Resources Ltd.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210730005144/en/
FAQ
What contract did Largo Resources announce on October 2023?
What is the significance of the NTP received by Largo Resources?
What technology is Largo Resources focusing on?
What does the press release indicate about Largo Resources' market position?
