Ferro-Alloy Resources Limited Electrolyte Patent Received (4803L)
13 Septiembre 2021 - 1:00AM
UK Regulatory
TIDMFAR
RNS Number : 4803L
Ferro-Alloy Resources Limited
13 September 2021
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) No 596/2014 which is part of UK law
by virtue of the European Union (Withdrawal) Act 2018
13 September 2021
Ferro-Alloy Resources Limited ('FAR' or the 'Company' or the
'Group')
Electrolyte patent received and proving trials started with
Fraunhofer Institute for Chemical Technology
Ferro-Alloy Resources Limited (LSE:FAR), the vanadium producer
and developer of the large Balasausqandiq vanadium deposit in
Southern Kazakhstan, is pleased to announce it has received a
Kazakhstan patent for the efficient technology which it has
developed to produce electrolyte for vanadium flow batteries
('VFBs') directly from ammonium metavanadate ('AMV'), a precursor
form of vanadium from which vanadium pentoxide is usually made.
The Company has also signed an agreement with Fraunhofer
Institute for Chemical Technology, an institute in Germany that is
well-known for its research work on VFBs and electrolyte
technology, for testing of the Company's electrolyte for battery
purposes. Samples have been shipped and work is expected to
commence on 15 September 2021.
By way of background , VFBs provide a means of storing energy
and discharging over longer periods than are economic for
lithium-ion battery technology. VFB s advantages compared with
lithium-ion and similar technologies include:
-- Energy (kWh) can be scaled independently of power (kw),
meaning that economies of scale can be achieved by simply
increasing the amount of electrolyte rather than by adding more
cells to the battery, thus reducing the cost of storage per
kWh;
-- VFBs can be fully charged and discharged repeatedly without damage;
-- VFBs do not catch fire;
-- VFBs do not deteriorate in use after many cycles; and
-- At the end of the battery life, all the components can be
easily recycled, including the vanadium electrolyte.
For these reasons, VFBs are the front-running technology for
large-scale storage of energy produced from solar and wind which
typically require storage and discharge over many hours. This
market is expected to grow rapidly as the world moves to
decarbonise power generation.
The Company's process of producing electrolyte for VFBs directly
from AMV requires relatively simple equipment, is safer, and
improves the quality of electrolyte produced compared with other
processes. The ability to make electrolyte gives the Company not
only the required know-how to enter this market but also a cost
advantage over traditional processes.
Nick Bridgen, CEO, commented : "Receiving the electrolyte
technology patent is another endorsement of the FAR technical
team's capabilities.
"FAR expects to become the world's lowest cost producer of
vanadium and this technology positions the Company to become a
dominant supplier of VFB electrolyte at prices which other
producers will find impossible to achieve."
For further information, visit www.ferro-alloy.com or contact:
Ferro-Alloy Resources Nick Bridgen (CEO) info@ferro-alloy.com
Limited
Shore Capital Jerry Keen/Toby Gibbs +44 207 408 4090
(Corporate Broker)
VSA Capital Andrew Monk/Simon Barton +44 203 005 5000
St Brides Partners
Limited
(Financial PR & IR
Adviser) Catherine Leftley +44 207 236 1177
About Ferro Alloy Resources Limited:
The Company's operations are all located at the Balasausqandiq
deposit in Kyzylordinskaya Oblast in the South of Kazakhstan.
Currently the Company has two main business activities:
a) the high grade Balasausqandiq vanadium project (the
"Project"); and
b) an existing vanadium concentrate processing operation (the
"Existing Operation")
Balasausqandiq is a very large deposit, with vanadium as the
principal product together with several by-products. Owing to the
nature of the ore, the capital and operating costs of development
are very much lower than for other vanadium projects.
A reserve on the JORC 2012 basis has been estimated only for the
first ore-body (of five) which amounts to 23 million tonnes, not
including the small amounts of near-surface oxidised material which
is in the Inferred resource category. In the system of reserve
estimation used in Kazakhstan the reserves are estimated to be over
70m tonnes in ore-bodies 1 to 5 but this does not include the full
depth of ore-bodies 2 to 5.
There is an existing concentrate processing operation at the
site of the Balasausqandiq deposit. The production facilities were
originally created from a 15,000 tonnes per year pilot plant which
was then adapted to treat concentrates and expanded. Further
expansion is being undertaken which is expected to result in
annualised production capacity of around 1,500 tonnes of contained
vanadium pentoxide plus significant by-product molybdenum.
The strategy of the Company is to develop both the Project and
the Existing Operation in parallel. Although they are located on
the same site and use some of the same infrastructure, they are
separate operations.
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