The commercialization of vanadium battery energy storage is accelerating

The first GWh level collective mining bid was opened, and the first national large-scale chemical energy storage demonstration project Dalian Liquid Flow Battery Energy Storage peak-regulating power Station was officially connected to the grid for power generation...... Since the fourth quarter of this year, vanadium battery energy storage commercialization process is accelerating.

"Vanadium batteries are no longer concepts, but are on the eve of large-scale commercialization and are rapidly moving from the laboratory to the power generation side, the grid side and the user side." A senior insider told the Shanghai Securities News. Many brokerages believe that vanadium battery energy storage space is broad, because photovoltaic, wind power and other will drive the rapid development of energy storage industry, vanadium battery is expected to enter a period of rapid development.

Recently, Sinocore Huineng 1GWh all-vanadium flow battery energy storage system opened the bid, which is the first GWh level collective-mining bid opening for the domestic all-vanadium flow battery energy storage system. The shortlist of bidders includes Dalian Rongke, Weili, Liquid Energy Storage, Wuhan Nanrui of the State Grid Institute of Electrical Science and Technology, and Shanxi Guorun Energy Storage. Judging from the bidding prices of the five enterprises, the average unit price of the vanadium flow battery energy storage system is about 3.1 yuan /Wh, which is more than double the cost of the previous bid opening of the lithium iron phosphate battery energy storage system. From the perspective of full life cycle, the life of lithium battery may be less than 8 years in the actual operation of energy storage projects, but the life of vanadium flow battery can reach 20 years or more, and its single cycle cost is lower than that of lithium battery energy storage battery.

There is no lack of A - share companies behind the winning candidate. Among them, Dalian Rongke, Weili and Liquid Energy Storage have cooperated with A-share listed companies, while the major shareholder of State Grid Institute of Electrical Science Wuhan Nanrui is State Grid Yingda.

Specifically, Dalian Rongke is the first bidder in the bidding list of this bidding section, with a bid price of 2.65 billion yuan and a unit price of 2.65 yuan /Wh. According to public information, Dalian Rongke was founded in 2008 by Dalian Rongke Energy Storage Group Co., LTD and Dalian Institute of Chemical Physics, Chinese Academy of Sciences. It is one of the earliest enterprises engaged in the whole vanadium flow battery industry chain service. On October 30, Dalian Rongke design and manufacture of the world's largest flow battery energy storage power station, officially connected to Liaoning power grid.

As a partner of Dalian Rongke, since this year, Vanadium titanium shares continue to increase in the layout of vanadium battery energy storage business.

A few days ago, Vanadium Titanium Corporation announced that the company signed a strategic cooperation Agreement with the Southwest Institute of Guodian Investment Corporation and Dalian Rongke. All parties agreed to jointly strengthen the application of key technologies in the cutting-edge of vanadium flow energy storage industry, promote the application promotion and business model innovation of vanadium flow battery energy storage, and achieve the purpose of technological innovation and development of vanadium flow battery energy storage. It is understood that the company has reached strategic cooperation with Dalian Rongke in September last year, and signed the commissioning processing agreement of vanadium energy storage medium in October. In October this year, the company and Dalian Rongke jointly established Sichuan Vanadium Rong Energy Storage, construction of an annual output of 62,000 cubic meters of electrolyte project. The company said the signing of the strategic cooperation agreement will further deepen the cooperative relationship with Dalian Rongke.

Weili is also one of the candidates for the bid. In July this year, CNNTI has signed a strategic cooperation agreement with CNNTI. The two parties will conduct a joint venture to build the whole vanadium flow battery energy storage industry chain, including but not limited to vanadium metal smelting and vanadium electrolyte manufacturing, whole vanadium flow battery energy storage system equipment manufacturing, new energy and energy storage power station construction.

Vanadium battery demand continues to rise, but also attracted some enterprises active cross-border layout.

Recently, fluorine chemical leading Yongtai technology announcement, the company in November 2 this year and Huaxia Hengtian Capital Management Co., Ltd. and other qualified investors signed the "partnership agreement", co-investment Hangzhou Mubang equity investment partnership (limited partnership). Hangzhou Mubang will invest in Hangzhou Dehai Aike Energy Technology Co., LTD., which is engaged in the development and production of vanadium flow battery materials, reactors and systems.

The company said the investment is a prudent decision based on the company's strategic development needs and overall business planning, and focuses on vanadium flow battery energy storage. This will further expand the company's industrial layout opportunities in the field of energy storage expertise, which is conducive to the company's sustainable development.

Yongtai Energy, a traditional energy enterprise mainly engaged in coal and electricity, has been actively transforming to the energy storage industry since this year. In the third quarter report of 2022 disclosed recently, the company said that the company and Hyde Stock set up De Tai Energy storage in September this year, and through De Tai Energy Storage is carrying out a vanadium flow battery application demonstration project.

At the same time, the company also upstream layout of vanadium resources. Previously, Yongtai Energy and Heide Stock both announced that the two companies jointly signed the Equity Purchase Agreement with Xinjiang Huiyou Group and Huihong Mining, through Detai Energy Storage to acquire 65% of the vanadium resources company Huihong Mining held by Xinjiang Huiyou Group.

Storage electric base station battery: high cycle time, high temperature stability.

Application scenarios: household solar power, wind power, solar LED, remote communication, UPS, etc

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