Vanadium’s time for shining in the Redox Flow Battery is coming but there are problems to fix first, says the head of the Mining Consulting Group. Nevertheless, Gillam believes that the Lithium- or Elon Musk-style moment for the vanadium redox flow battery (VRFB) is coming within the next couple of years, identifying why the technology is not taking off.
Vanadium redox flow batteries (VRFB) are used in large-scale battery storage systems that hold surplus electricity from the grid to use in times of high demand.
Australia’s supply and resources of Vanadium have fluctuated in recent years, too, responding to the volatile nature of the market. Still, amongst a handful of major players in this space, Gillam believes we are starting to see some genuine efforts by operators.