Vecco Group owns 100% of one of the worlds largest and lowest cost Vanadium and High Purity Alumina projects located North West Queensland, Australia. Vecco Group’s focus on developing this world class project with a JORC 147mt vanadium resource and high grades of 0.56 V205 from 16m. This asset is being developed in tandem with Australia’s first commercial scale battery electrolyte facility to lead the expansion of green energy and the capitalise on the significant global electrification shift.
According to Bloomberg research green energy will grow to 56% of global electricity and power generation over the next 30 years with an investment of USD 11 Trillion over the next 2 decades. This significant long term investment thematic is set to cause emissions to peak in 2027 and then fall 0.7% annually until 2050 according to the Bloomberg New Energy Outlook report. The challenge in reducing emissions and energy costs and shifting to a green approach to satisfy investor sentiment is not the generation of energy, this is a relatively mature industry and well progressed, however, the challenge is the storage of energy. Put simply, solar panels aren’t too affective at night. The key to achieving these targets and where a significant portion of the USD 11 Trillion of investment is being allocated is the storage of electricity and of particular importance is the application of base load generation and storage for industrial and commercial scale.
Well known batteries such as lithium and lead acid are inferior when compared to Vanadium flow batteries for 4+ hours of energy storage, making vanadium flow batteries the obvious choice for most large scale storage applications. Unlike Lithium, Vanadium redox batteries last over 20 years, do not degrade, are non-flammable / explosive, reusable and discharge 100% of the stored energy (100% depth of discharge), thus making the levelized cost of energy and ROI far superior when comparing Vanadium to Lithium.
For more information please visit veccogroup.com.au