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Largo Physical Vanadium Corp (VANAF) provides essential vanadium solutions for steel manufacturing and energy storage systems through its specialized physical production and commodity trading operations. This news hub offers investors and industry professionals timely updates about the company's strategic developments in the metals and mining sector.
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Largo (TSX: LGO) (NASDAQ: LGO) has finalized the formation of Storion Energy , a joint venture with Stryten Critical E-Storage, effective January 31, 2025. The partnership aims to establish a domestic supply chain for vanadium flow battery components and electrolyte manufacturing in the United States.
The joint venture combines Largo's high-quality vanadium supply, Largo Physical Vanadium Corp.'s electrolyte leasing model, and Stryten's U.S.-based manufacturing expertise. Both companies hold a 50% equity stake in Storion. As part of the transaction, Stryten has paid US$1 million to Largo and will contribute an additional US$6 million over time to fund operations.
The venture focuses on removing barriers to entry for battery manufacturers by providing domestically sourced, price-competitive components for the flow battery industry. This strategic collaboration aims to enhance grid stability and energy security while promoting the adoption of vanadium flow battery solutions.