🕐27.07.12 - 18:27 Uhr
PACIFICORE MINING CORP. - VANADIUM INDUSTRY UPDATE
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Vanadium and Energy: Rare Earth Metal Market Outlook
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By Jared Anderson
Published: July 26, 2012
Vanadium is a metal used in the steel, aerospace and energy storage industries -
and as with virtually all commodities - the supply, demand and price outlook for
this commodity varies depending on who one speaks with.
The energy and metals markets first collided in the 1970s and 80s when oil and
gas companies looking to expand their businesses merged with mining companies.
For example, Union Oil of California (UNOCAL) acquired rare earth miner
Molycorp in 1977 - UNOCAL was subsequently acquired by
Chevron in 2005, making Molycorp a fully owned subsidiary of the oil giant.
Today
we are seeing the second big confluence of energy and metals,Doug Horn, Analyst
atCPM told AOL Energy.
A grid-scale vanadium energy storage system typically falls
within the 1 to 2 MW range and the vanadium itself accounts for about 35% of the
total cost of a 1 MW system, said Horn.
Cleantech projects can often be expensive
ventures that require government incentives, venture capital investment , or both
to finance.
So paying for vanadium energy storage systems - typically vanadium flow
batteries- can be challenging.
But energy storage has become a sought after companion
to distributed renewable sources of power like wind and solar, where intermittent
breezes and sunshine can be difficult for power grids to handle.
The ability to
store that energy and feed it into an electric grid as dictated by demand could
revolutionize the power generation, transmission and distribution sectors.
Click here for full article...
Horn, whose company released a Vanadium Market Outlook earlier this year, sees
sufficient capacity in the market over the medium term.
Chinese building codes
for new construction were strengthened to require vanadium alloy steel, which is
stronger and has been used in the west for several years.
Despite this domestic
demand boost, CPMs research predicts only a slow curtailment of vanadium exports
from China.
CPM estimates the current energy storage market at about 126 GW - most of which
is pumped hydro - with batteries accounting for 0.4% of the total market and vanadium
accounting for about 6% of the battery market share.
The IEA estimates the energy storage market could reach 150 GW by 2020 and 220 GW
by 2030, as cited in the CPM research.
"It is too early for a massive vanadium battery storage market, but its an exciting
space," said Horn.
Click here for full article...
End of Article
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Message from W.
Adrian Bakker relating to above article.
PNNL "New Generation" Vanadium Battery technology is now being commercialized by
a new start-up company - Uni-Energy
- situated just north of Seattle.
The company founders have managed to raise a large
amount of investment capital and this will definitely help to speed up the production
- especially in North America.
Click here for the resource calculator
Gray
For more information contact:
W.
Adrian Bakker
VP Corporate Communications
PacificOre Mining Corp.
TSX-V "PC"
1600-543 Granville St.
Vancouver, BC, Canada V6C 1X8
Ph.604.683.8990
Direct.604.641.4474
Toll Free:1-800-663-8990
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HOW THE VANADIUM REDOX BATTERY (VRB) WORKS EXPLAINED BY MARIA SKYLLAS KAZACOS
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