Proactive Investors - Run By Investors For Investors

Protean Energy begins work on vanadium battery project through South Korean subsidiary

The project will trial Protean’s patented stack technology and is expected to run for 96 months.
Protean Energy begins work on vanadium battery project through South Korean subsidiary
Concept of a 3.6-megawatt large-scale V-KOR grid battery

Protean Energy Ltd’s (ASX:POW) 60%-owned subsidiary KORID Energy has started work on a 1 megawatt/4 megawatt-hour vanadium redox flow battery (VRFB).

The battery is being constructed in conjunction with the Korean Institute of Energy Technology Evaluation and Planning (KETEP) to demonstrate the most efficient vanadium battery solution for eventual mass production in South Korea.

It will also serve as a basis for developing an industry standard for vanadium batteries in Korea.

KORID recently received a funding commitment of $3 million from KETEP to install and run its patented V-KOR stack technology as part of the overall $9.7 million vanadium battery project.

READ: Protean Energy secures controlling stake in Korean vanadium-focused subsidiary

The V-KOR stack technology is an energy storage system that stacks a series of repeating cell frames to form a number of cells within the overall battery stack.

This improves battery performance and lowers manufacturing costs compared to conventional VRFB technology.

KORID is developing the battery stack technology for large-scale electricity grid battery installations and considers the start of work a significant milestone.

READ: Protean Energy enters agreement to optimise processing and production of Daejon vanadium

Protean is focused on the commercialisation of its V-KOR vanadium battery energy storage systems and holds a multi-energy mineral project in South Korea through its 50% holding in Stonehenge Korea Limited.

Stonehenge is a joint venture company with KOSDAQ-listed DST Co Ltd and owns 100% of three projects in South Korea, including the Daejon Vanadium Project.

 

View full POW profile View Profile

Protean Energy Ltd Timeline

Newswire
February 06 2017

Related Articles

oil rig
November 19 2018
The core of the portfolio is in the East Midlands Basin, which includes the Wressle-1 oil discovery, a share of production from the Keddington oil field and a raft of drill-ready exploration and appraisal targets
oil and gas operations
November 12 2018
The second well at Verbier has the potential to significantly upgrade the size and commercial potential of the presently undeveloped oil field
oil and gas operations
September 20 2018
Spirit Energy, majority-owned by British Gas parent Centrica, is to fund a programme of new wells and cover Hurricane's costs for initial field development work for the Greater Warwick Area

© Proactive Investors 2019

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use