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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.
