its assets provide flexibility
The platform will allow
for the group to deliver on the
the company to mobilise
entire vanadium value suite by
additional third-party
being able to produce various
financing to support VRFB
vanadium feedstocks that can
manufacturers’ efforts to scale
be converted into electrolytes
up their capacity.
for VRFBs.”
Downstream investments
The first action made by Bushveld under the VRFB Investment Platform was to
Bushveld further underlined
provide a US$5 million loan
its ambitions in the
to support the merger of UK
downstream vanadium-
energy storage provider redT
based energy storage sector
with US VRFB manufacturer
by establishing a VRFB
Avalon Battery Corp.
Investment Platform to lead investments in this space.
“This investment is in line with the company’s strategy of
VRFBs are well positioned to take a significant share of the stationary energy storage market, on account of their unique features that give them an edge in large scale, stationary and longduration energy storage applications” Fortune Mojapelo, CEO Bushveld Minerals
44
building a leading downstream
In addition to the redT-Avalon
vanadium-based energy
investment, Bushveld joined a
storage platform.”
consortium for the acquisition of another VRFB OEM before
The interim funding creates
the end of 2019, in the shape
an investment into a scaled-up
of Austrian firm Enerox – a
VRFB OEM with the potential
pioneering company with over
to become a leading, global
10 years’ experience in the
battery energy storage systems
production of VRFBs.
supplier, and gives Bushveld preferential supply rights to
“Bushveld’s participation in
the new company for at least
this investment expands our
two years.
VRFB investment platform, demonstrates our belief in VRFB technology, and helps
