Stryten Energy and Largo Launch Long-Duration Energy Storage Company
Stryten Energy and Largo have formed Storion Energy , a new company focused on domestic vanadium redox flow batteries (VRFB) for long-duration energy storage. The venture aims to provide cost-competitive electrolyte production through an Earth to Energy™ model, leveraging Largo's western hemisphere vanadium mine and Stryten's reactor design.
Storion will deliver vanadium electrolyte at less than $0.02 per kilowatt-hour, achieving the U.S. Department of Energy's goal of reducing storage costs to $0.05/kWh ahead of schedule. The company will have exclusive rights to offer LPV-owned vanadium as electrolyte, utilizing a unique leasing model to make VRFB technology more competitive against lithium-based solutions for utility-scale deployments of 10 MWhs and greater.
Stryten Energy e Largo hanno fondato Storion Energy, una nuova azienda focalizzata sulle batterie a flusso redox al vanadio (VRFB) per lo stoccaggio energetico di lunga durata. L'iniziativa mira a fornire una produzione di elettroliti a costi competitivi attraverso un modello Earth to Energy™, sfruttando la miniera di vanadio di Largo nell'emisfero occidentale e il design del reattore di Stryten.
Storion fornirà elettroliti di vanadio a meno di $0.02 per kilowattora, raggiungendo l'obiettivo del Dipartimento dell'Energia degli Stati Uniti di ridurre i costi di stoccaggio a $0.05/kWh prima del previsto. L'azienda avrà diritti esclusivi per offrire il vanadio di proprietà di LPV come elettrolita, utilizzando un modello di leasing unico per rendere la tecnologia VRFB più competitiva rispetto alle soluzioni a base di litio per applicazioni a scala di utilità di 10 MWh e oltre.
Stryten Energy y Largo han formado Storion Energy, una nueva empresa centrada en baterías de flujo redox de vanadio (VRFB) para almacenamiento de energía de larga duración. La empresa tiene como objetivo proporcionar producción de electrolitos a un costo competitivo mediante un modelo Earth to Energy™, aprovechando la mina de vanadio de Largo en el hemisferio occidental y el diseño del reactor de Stryten.
Storion entregará electrolito de vanadio a menos de $0.02 por kilovatio-hora, logrando el objetivo del Departamento de Energía de los EE. UU. de reducir los costos de almacenamiento a $0.05/kWh antes de lo previsto. La empresa tendrá derechos exclusivos para ofrecer vanadio propiedad de LPV como electrolito, utilizando un modelo de arrendamiento único para hacer que la tecnología VRFB sea más competitiva frente a las soluciones basadas en litio para implementaciones a gran escala de 10 MWh o más.
Stryten Energy와 Largo는 Storion Energy를 설립하여 장기간 에너지 저장을 위한 바나듐 레독스 흐름 배터리(VRFB)에 집중하는 새로운 회사를 만들었습니다. 이 벤처의 목표는 Largo의 서반구 바나듐 광산과 Stryten의 반응기 설계를 활용하여 Earth to Energy™ 모델을 통해 비용 경쟁력 있는 전해질 생산을 제공하는 것입니다.
Storion은 $0.02/kWh 미만의 바나듐 전해질을 제공하여 미국 에너지부의 목표인 저장 비용을 $0.05/kWh로 줄이는 것을 예정보다 빠르게 달성할 것입니다. 이 회사는 LPV 소유의 바나듐을 전해질로 제공할 수 있는 독점 권리를 가지며, 10MWh 이상의 공공 유틸리티 규모 배치에 대한 리튬 기반 솔루션과 비교하여 VRFB 기술을 더욱 경쟁력 있게 만들기 위한 독특한 임대 모델을 사용할 것입니다.
Stryten Energy et Largo ont formé Storion Energy, une nouvelle société axée sur les batteries à flux redox au vanadium (VRFB) pour le stockage d'énergie à long terme. L'objectif de cette entreprise est de fournir une production d'électrolyte compétitive en termes de coûts grâce à un modèle Earth to Energy™, en s'appuyant sur la mine de vanadium de Largo dans l'hémisphère occidental et le design du réacteur de Stryten.
Storion livrera de l'électrolyte de vanadium à moins de $0.02 par kilowattheure, atteignant ainsi l'objectif du département de l'énergie des États-Unis de réduire les coûts de stockage à $0.05/kWh en avance sur le calendrier. L'entreprise aura des droits exclusifs pour proposer du vanadium détenu par LPV en tant qu'électrolyte, utilisant un modèle de location unique pour rendre la technologie VRFB plus compétitive par rapport aux solutions à base de lithium pour des déploiements à l'échelle des services publics de 10 MWh et plus.
Stryten Energy und Largo haben Storion Energy gegründet, ein neues Unternehmen, das sich auf Vanadium-Redox-Flow-Batterien (VRFB) für die langfristige Energiespeicherung konzentriert. Das Unternehmen hat das Ziel, wettbewerbsfähige Elektrolytproduktion durch ein Earth to Energy™-Modell bereitzustellen, wobei die Vanadiummine von Largo in der westlichen Hemisphäre und das Reaktordesign von Stryten genutzt werden.
Storion wird Vanadiumelektrolyt zu weniger als $0.02 pro Kilowattstunde liefern und damit das Ziel des US-Energieministeriums erreichen, die Speicherkosten auf $0.05/kWh vorzeitig zu senken. Das Unternehmen wird exklusive Rechte haben, von LPV besessenen Vanadium als Elektrolyt anzubieten und ein einzigartiges Leasingmodell zu nutzen, um die VRFB-Technologie wettbewerbsfähiger im Vergleich zu lithiumbasierten Lösungen für Anwendungen im Versorgungsmaßstab von 10 MWh und mehr zu machen.
- Achieves DOE cost target of $0.05/kWh ahead of 2030 deadline
- Exclusive rights for vanadium electrolyte distribution
- 20+ year lifespan for VRFB systems with proper maintenance
- Competitive pricing at less than $0.02 per kWh for vanadium electrolyte
- Secure domestic supply chain reducing foreign dependency
- High initial vanadium electrolyte costs relative to total system cost
- Requires substantial infrastructure investment for production
Insights
The formation of Storion Energy marks a pivotal development in the U.S. energy storage landscape. The joint venture between Stryten Energy and Largo introduces a groundbreaking cost structure of <$0.02/kWh for vanadium electrolyte, significantly undercutting the DOE's 2030 target of $0.05/kWh for levelized cost of storage. This aggressive pricing strategy, combined with Largo's vanadium leasing model, could fundamentally reshape the utility-scale storage market.
The vertical integration from vanadium mining to electrolyte production creates substantial competitive advantages. The Earth to Energy™ model addresses critical supply chain vulnerabilities while potentially reducing dependency on foreign suppliers. The 20+ year lifespan of VRFBs and infinite recyclability of electrolyte present compelling total cost of ownership advantages over lithium-ion alternatives for long-duration applications above 10MWh.
This strategic partnership positions Largo (LGO) to potentially capture a significant share of the rapidly expanding utility-scale energy storage market. The timing is particularly advantageous given the increasing focus on grid stability and renewable integration. The exclusive rights to offer LPV-owned vanadium electrolyte creates a unique market position and potential recurring revenue stream.
The bold claim that VRFB technology will "completely replace lithium in the utility arena in the next five years" warrants scrutiny, but the cost economics and operational advantages make VRFBs increasingly competitive for long-duration applications. For investors, this represents a significant expansion of Largo's addressable market beyond traditional vanadium sales, with potential for higher margins through value-added electrolyte production.
The establishment of a domestic vanadium electrolyte supply chain addresses critical infrastructure security concerns and aligns with current policy priorities. Leveraging the western hemisphere's only vanadium mine provides a strategic advantage in securing critical mineral supply. The innovative leasing model through Largo Physical Vanadium Corp. effectively transforms the traditional CAPEX-heavy business model into a more flexible OPEX structure, potentially accelerating market adoption.
The vertical integration strategy could yield significant cost efficiencies and supply chain resilience. However, success will depend on execution capabilities and the ability to scale production to meet potential demand growth in the utility-scale storage market.
Storion Energy will bring transformational utility-scale clean energy resources to
Storion utilizes the Earth to Energy™ model which combines access to high-quality vanadium supply from the only western hemisphere vanadium mine with domestic electrolyte production to establish a fully integrated vertical supply chain for utility-scale flow battery LDES solutions. Storion will leverage Stryten’s proprietary reactor design and Largo Physical Vanadium Corp.’s (VAND:TSXV, VANAF:OTCQX) unique vanadium electrolyte leasing capabilities to deliver vanadium electrolyte at less than
“This is the moment to capitalize on a new clean energy era not dominated by foreign sources,” said Mike Judd, President and CEO of Stryten Energy. “VRFB technology will completely replace lithium in the utility arena in the next five years given its ability to support the deployment of renewables that will provide energy for data centers, AI, green hydrogen production and other commercial-industrial applications. Storion will be able to serve this market opportunity with a competitively priced and domestically manufactured source for LDES solutions.”
Today, vanadium electrolyte typically constitutes a large portion of the overall VRFB system cost, depending on the market price of vanadium. Largo Physical Vanadium provides a unique vanadium leasing model, which provides a vehicle for investors to invest in physical vanadium assets while those assets are stored in VRFBs, with the goal of alleviating the cost of acquiring this critical mineral used in VRFB solutions and driving additional vanadium demand. Storion will have exclusive rights to offer LPV-owned vanadium to the market in the form of vanadium electrolyte.
“Utilizing LPV’s vanadium electrolyte leasing capabilities is expected to create a path for a competitive VRFB pricing model to challenge the dominance of lithium for utility-scale deployments of 10 MWhs and greater,” said Francesco D’Alessio, President of LCE. “Following the installation of the largest VRFB in
VRFB technology is a safe and reliable option to provide long-duration energy storage 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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241219703037/en/
Melissa Floyd
Vice President, Corporate Communications & Digital Marketing
678.599.9887
melissa.floyd@stryten.com
Source: Stryten Energy LLC
FAQ
What is the cost per kWh of Storion Energy's vanadium electrolyte for LGO's VRFB technology?
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What is the minimum deployment size for LGO's VRFB competitive advantage?
How does Storion's partnership with LGO address vanadium supply concerns?
What is the environmental advantage of LGO's VRFB electrolyte?
