Bushveld Energy Lithium ion has won the energy storage/battery war! Of course not I am from a Vanadium energy company and still standing; Victors do not need to use exclamation points Somewhat serious document Junior Mining Indaba 5 June 2018
Cumulative deployments GWh Annual deployment GWh It is too early to declare anyone victory Global cumulative and annual storage deployments, GWh 160 150 70 140 60 120 100 80 60 40 20 13 18 25 32 41 52 69 88 113 50 40 30 20 10 0 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 BNEF cumulative forecast, GWh (LHS) BNEF annual deployment, GWh (RHS) 0 It is still early days for stationary /advanced energy storage SOURCE: Bloomberg New Energy Finance 2
Did Germany win WWII in 1941? Not that I am comparing lithium ion to the NAZIs SOURCE: kenbrown.info 3
Most experts do not expect an ultimate lithium ion victory In Greentech Media's 2017 Energy Storage Summit poll of 500 professionals on the next 5 years for energy storage, flow battery technology achieved the most support Observations: Just 1 in 4 respondents believe that lithium ion technology will remain dominant in utility scale storage; 3 in 5 of the remaining participants believe flow batteries would become dominant. SOURCE: Greentechmedia.com 4
That is before we even consider the impact of Chinese reinforcements I. 60 MWh VRFB from Sumitomo in Hokkaido, Japan II. 800 MWh VRFB by Rongke Power in Dalian, China III. 400 MWh VRFB from Pu Neng in Hubei, China 3-phase project to be finished by 2020 Cornerstone of a new smart energy grid in Hubei Province. Will serve as a critical peaker plant, deliver reliability and reduce emissions These large VRFBs are part of China s new National Development Plan s focus includes 100MW-grade, vanadium redox flow battery energy storage stations SOURCE: Sumitomo; Rongke Power; Pu Neng; No.1701 (2017) of the National Development and Reform Commission and the National Energy Administration 5
And those are just three of thousands of other reasons Long lifespan cycles: Ability to repeatedly charge/ discharge over 35,000 times for a lifespan of over 20 years; 100% depth of discharge: Without performance degradation is unique to VRFBs; Scalable capacity to store large quantities of energy (MW- range); Flexibility: Allows capture of the multistacked value of energy storage in grid applications; Very fast response time of less than 70ms; Minimal self discharge of ~2.5% of maximum energy capacity No cross-contamination: Only one battery element, unique among flow batteries; Lowest cost per kwh when fully used at least once daily makes VRFBs today cheaper than Li-ion batteries; Safe, with no fire risk from thermal runaway; Permission to deploy in densely populated / urban areas in the USA due to no smoke emissions risk;. Nearly two dozen manufactures in VRFB production or R&D, including: Avalon Battery; Enerex; H2; Thank HydroRedox; you Pu Neng; PVH; RedT; Rongke Power; Schmid; Storion; Sumitomo; ThyssenKrupp; UniEnergy Technologies; VionX Energy; V-Kor; Volterion; Volt Storage; WattJoule;. *** Make V not war Support from Vanitec, the global body of vanadium producers; Ability to reduce up to 1/3 of CAPEX through business models, such as vanadium electrolyte leasing; Mineral diversification with dedication of lithium, cobalt, manganese for EVs and consumer electronics; Absence of human rights issues related to key mineral and component supplies; The largest batteries currently under production use VRFB technology; Sustainable, with 100% of vanadium is reusable upon decommissioning of the system; Value chain opportunity for South Africa through mineral beneficiation of vanadium into vanadium electrolytes; Absence of restrictive warranties that are tied to predefined operating criteria; Global trend towards longer duration energy storage, as use cases migrate from frequency response to capacity and peaking energy provision; Global trend toward value stacking of energy storage benefits for a specific site;. 6