Storion Energy Launched to Establish a Domestic Supply of Flow Battery Components for Long-Duration Energy Storage
Stryten Energy and Largo Inc. (LGO) have formed a joint venture called Storion Energy to establish domestic production of vanadium electrolyte for flow batteries. The venture aims to provide price-competitive components through a unique leasing model, leveraging Largo's position as the only operating vanadium mine in the Western Hemisphere.
The JV will focus on vanadium redox flow batteries (VRFB) for long-duration energy storage applications, supporting the DOE's goal of delivering reliable energy at $0.05/kWh by 2030. Through exclusive access to Largo Physical Vanadium Corp., Storion will offer a vanadium electrolyte leasing model to compete with lithium-ion battery costs.
VRFBs offer several advantages, including 20+ years lifespan with proper maintenance, infinite electrolyte recyclability, and scalability in power and capacity. The technology is particularly suited for utility-scale deployments and renewable energy storage applications.
Stryten Energy e Largo Inc. (LGO) hanno formato una joint venture chiamata Storion Energy per stabilire una produzione nazionale di elettrolita di vanadio per batterie a flusso. L'iniziativa ha l'obiettivo di fornire componenti competitivi in termini di prezzo attraverso un modello di leasing unico, sfruttando la posizione di Largo come unica miniera di vanadio operativa nell'emisfero occidentale.
La JV si concentrerà sulle batterie a flusso redox di vanadio (VRFB) per applicazioni di stoccaggio di energia a lungo termine, supportando l'obiettivo del DOE di fornire energia affidabile a $0.05/kWh entro il 2030. Attraverso l'accesso esclusivo a Largo Physical Vanadium Corp., Storion offrirà un modello di leasing di elettrolita di vanadio per competere con i costi delle batterie agli ioni di litio.
Le VRFB offrono diversi vantaggi, tra cui una vita utile di oltre 20 anni con una corretta manutenzione, riciclabilità infinita dell'elettrolita e scalabilità in potenza e capacità. La tecnologia è particolarmente adatta per implementazioni su scala utilità e per applicazioni di stoccaggio di energia rinnovabile.
Stryten Energy y Largo Inc. (LGO) han formado una empresa conjunta llamada Storion Energy para establecer la producción nacional de electrolito de vanadio para baterías de flujo. La iniciativa tiene como objetivo proporcionar componentes competitivos en precio a través de un modelo de arrendamiento único, aprovechando la posición de Largo como la única mina de vanadio operativa en el Hemisferio Occidental.
La empresa conjunta se centrará en baterías de flujo redox de vanadio (VRFB) para aplicaciones de almacenamiento de energía de larga duración, apoyando el objetivo del DOE de proporcionar energía confiable a $0.05/kWh para 2030. A través del acceso exclusivo a Largo Physical Vanadium Corp., Storion ofrecerá un modelo de arrendamiento de electrolito de vanadio para competir con los costos de las baterías de iones de litio.
Las VRFB ofrecen varias ventajas, incluyendo más de 20 años de vida útil con el mantenimiento adecuado, reciclabilidad infinita del electrolito y escalabilidad en potencia y capacidad. La tecnología es particularmente adecuada para implementaciones a escala de servicios públicos y aplicaciones de almacenamiento de energía renovable.
Stryten Energy와 Largo Inc. (LGO)는 Storion Energy라는 합작 회사를 설립하여 흐름 배터리용 바나듐 전해액의 국내 생산을 구축하기 위해 협력하고 있습니다. 이 사업의 목표는 Largo가 서반구에서 유일한 바나듐 광산으로서의 입지를 활용하여 경쟁력 있는 가격의 부품을 독특한 임대 모델을 통해 제공하는 것입니다.
합작회사는 장기 에너지 저장 응용 프로그램을 위한 바나듐 레독스 흐름 배터리 (VRFB)에 주력하여 2030년까지 $0.05/kWh로 안정적인 에너지를 제공하는 미국 에너지부(DOE)의 목표를 지원할 것입니다. Storion은 Largo Physical Vanadium Corp.에 대한 독점적인 액세스를 통해 리튬 이온 배터리 비용과 경쟁하기 위해 바나듐 전해액 임대 모델을 제공할 것입니다.
VRFB는 적절한 유지 관리 시 20년 이상의 수명, 전해액의 무한한 재활용 가능성, 그리고 전력과 용량의 확장성을 포함한 여러 가지 장점을 제공합니다. 이 기술은 유틸리티 규모 배치 및 재생 가능 에너지 저장 응용 프로그램에 특히 적합합니다.
Stryten Energy et Largo Inc. (LGO) ont formé une coentreprise appelée Storion Energy pour établir la production nationale d'électrolyte de vanadium pour les batteries à flux. L'initiative vise à fournir des composants compétitifs en termes de prix grâce à un modèle de location unique, en tirant parti de la position de Largo en tant que seule mine de vanadium opérationnelle dans l'Hémisphère occidental.
La coentreprise se concentrera sur les batteries à flux redox de vanadium (VRFB) pour des applications de stockage d'énergie à long terme, soutenant l'objectif du DOE de fournir une énergie fiable à 0,05 $/kWh d'ici 2030. Grâce à un accès exclusif à Largo Physical Vanadium Corp., Storion proposera un modèle de location d'électrolyte de vanadium pour rivaliser avec les coûts des batteries lithium-ion.
Les VRFB offrent plusieurs avantages, notamment une durée de vie de plus de 20 ans avec un entretien approprié, une recyclabilité infinie de l'électrolyte et une évolutivité en puissance et en capacité. La technologie est particulièrement adaptée pour des déploiements à l'échelle des services publics et pour des applications de stockage d'énergie renouvelable.
Stryten Energy und Largo Inc. (LGO) haben ein Joint Venture namens Storion Energy gegründet, um die heimische Produktion von Vanadium-Elektrolyt für Flussbatterien aufzubauen. Das Unternehmen zielt darauf ab, über ein einzigartiges Leasingmodell preislich wettbewerbsfähige Komponenten anzubieten und dabei Largos Position als einzige operierende Vanadiummine auf der westlichen Hemisphäre zu nutzen.
Das Joint Venture wird sich auf Vanadium-Redox-Flussbatterien (VRFB) für Anwendungen zur langfristigen Energiespeicherung konzentrieren und das Ziel des DOE unterstützen, bis 2030 zuverlässige Energie zu einem Preis von $0.05/kWh bereitzustellen. Durch den exklusiven Zugang zur Largo Physical Vanadium Corp. wird Storion ein Leasingmodell für Vanadium-Elektrolyt anbieten, um mit den Kosten von Lithium-Ionen-Batterien zu konkurrieren.
VRFBs bieten mehrere Vorteile, darunter eine Lebensdauer von über 20 Jahren bei ordnungsgemäßer Wartung, unendliche Wiederverwertbarkeit des Elektrolyten und Skalierbarkeit in Leistung und Kapazität. Die Technologie eignet sich besonders gut für Implementierungen im Versorgungsmaßstab und für Anwendungen zur Speicherung erneuerbarer Energie.
- Exclusive access to Western Hemisphere's only operating vanadium mine
- Innovative leasing model to reduce upfront capital costs
- 20+ year lifespan for VRFB technology
- Potential for cost reduction in large-scale energy storage
- High vanadium electrolyte costs constitute large portion of VRFB system cost
- Requires proper maintenance for optimal performance
Insights
The launch of Storion Energy marks a transformative development in the U.S. energy storage landscape, with potentially significant implications for Largo Inc. and the broader VRFB market. This strategic joint venture addresses three critical market barriers simultaneously: domestic supply chain security, cost competitiveness and upfront capital requirements.
The venture's unique vanadium electrolyte leasing model represents a game-changing approach to VRFB commercialization. By separating the vanadium cost from the initial system price, this model could effectively reduce upfront capital costs by 30-40%, making VRFBs more competitive with lithium-ion systems. This is particularly significant given the DOE's ambitious target of $0.05/kWh by 2030, which requires innovative financial structures alongside technological advancement.
From a market perspective, Storion Energy's positioning is strategically sound for several reasons:
- It leverages Largo's position as the only Western Hemisphere vanadium producer, providing important supply chain security amid growing geopolitical tensions
- The continuous manufacturing process and patented purification technology suggest potential cost advantages in electrolyte production
- The infinite recyclability and 20+ year lifespan of VRFB systems align perfectly with the long-term nature of utility-scale renewable energy projects
For Largo shareholders, this venture opens up a new recurring revenue stream through the electrolyte leasing model, potentially providing more stable and predictable cash flows compared to traditional vanadium sales. The exclusive rights to offer LPV-owned vanadium for leasing creates a significant competitive moat in the North American LDES market.
However, the success of this venture will largely depend on execution, particularly in scaling up domestic production efficiently and maintaining cost competitiveness. The timing appears opportune, given the increasing focus on grid stability and the growing need for long-duration energy storage solutions to support renewable energy integration.
The Stryten Energy and Largo joint venture will deliver price-competitive vanadium electrolyte via a unique leasing model to drive rapid commercialization and adoption of Vanadium Redox Flow Batteries
Storion Energy’s mission is to remove the barriers to entry for battery manufacturers by enabling them to domestically source price-competitive components for flow batteries, including vanadium electrolyte. Storion combines access to high-quality vanadium supply from the only operating Western Hemisphere vanadium mine with domestic electrolyte production to establish a fully integrated vertical supply chain for utility-scale vanadium redox flow batteries (VRFB) used in long-duration energy storage (LDES) applications.
Storion will leverage its proprietary continuous manufacturing process and patented purification process to offer high-quality, domestically produced electrolyte to support the DOE’s goal to deliver reliable energy at
“We are excited to announce the formation of Storion Energy to bring a much-needed, cost-effective domestic supply chain for vanadium electrolyte and component parts that will enable the rapid adoption of VRFB technology for utility-scale BESS applications,” said Mike Judd, CEO and President of Stryten Energy. “VRFBs are safe and reliable long-duration energy storage solutions that provide energy resilience for commercial and industrial applications where access to continuous sources of power is critical to their operations.”
Today, depending on the market price of vanadium, vanadium electrolyte typically constitutes a large portion of the overall VRFB system cost. Largo Physical Vanadium offers a unique vanadium leasing model, which provides a vehicle for investors to invest in physical vanadium assets while those non-degrading assets are stored in VRFBs. Storion will have exclusive rights to offer LPV-owned vanadium to the market in the form of leased vanadium electrolyte, providing its customers with access to an economical source for the electrolye used in VRFB solutions.
“The finalization of our joint venture with Stryten Energy marks an important step forward in accelerating LPV’s vanadium electrolyte leasing offering to the North American long-duration energy storage market,” said Francesco D’Alessio, President of LCE. “Storion Energy’s competitive VRFB pricing model is expected to challenge the dominance of lithium for utility-scale deployments, increase the adoption of this technology and secure leadership for the
VRFB technology is a safe and reliable option to provide long-duration energy storage for greater than four hours to help ensure grid stability and facilitate increased utilization of renewables for businesses and consumers across the
About Storion Energy
Storion Energy intends to bring energy resilience and security to the
About Stryten Energy
Stryten Energy helps solve the world’s most pressing energy challenges with a broad range of energy storage solutions across the Essential Power, Motive Power, Transportation, Military and Government sectors. Headquartered in
About Largo Physical Vanadium Corp.
LPV (VAND:TSXV, VANAF:OTCQX) aims to provide a secure, convenient and exchange-traded investment alternative for investors interested in having direct exposure to physical vanadium, a metal essential to achieving a greener world in key industries such as steel, aerospace and energy storage. Vanadium is non-degrading and fully recyclable when used as electrolyte in vanadium redox flow batteries (VRFBs) and offers carbon reducing attributes when used in steel alloying applications. LPV offers pure-play exposure to vanadium through its holdings of physical vanadium. LPV's strategy is not only to achieve appreciation through the acquisition of vanadium, but to own and actively supply vanadium to end users of VRFBs to advance to integration of renewable energy in long duration storage. This strategy is integral to LPV's business plan, as it necessarily defrays the costs to LPV associated with storage of vanadium, and demonstrates the benefits and utility of vanadium, therefore supporting vanadium's value. For more information, please visit www.lpvanadium.com.
About Largo
Largo is a globally recognized supplier of high-quality vanadium and ilmenite products, sourced from its world-class Maracás Menchen Mine in
Largo is also strategically invested in the clean energy storage sector through its
Largo’s common shares trade on the Nasdaq Stock Market and on the Toronto Stock Exchange under the symbol “LGO”. For more information on the Company, please visit www.largoinc.com.
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Melissa Floyd
Vice President, Corporate Communications & Digital Marketing
678.599.9887
melissa.floyd@stryten.com
Source: Stryten Energy LLC
FAQ
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