VANCOUVER, Dec. 10, 2015 /CNW/ - VanadiumCorp Resource Inc. (TSX-V: "VRB") (the "Company") is pleased to announce it has signed a Memorandum of Understanding ("MOU") with a leading North American vanadium flow battery manufacturer.
VanadiumCorp and the manufacturer share a vision for the accelerated commercialization of vanadium flow batteries (VFBs) and agree to work together to foster development and acceptance of the VFBs in the marketplace. Significant growth is forecast for grid-scale energy storage applications in North America in the near term and VFBs are expected to play a key role in this market. Their long-life characteristics and scalability make them ideal for integration with renewable energy sources like solar or wind power to reduce greenhouse gas (GHG) emissions and strengthen grid reliability.
Development of a long term, reliable source of vanadium at stable prices would accelerate VFB commercialization, resulting in increased demand for vanadium.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE VanadiumCorp Resource Inc.
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For further information: Adriaan Bakker, President and Chief Executive Officer at 604-385-4485 or [email protected]