Largo Physical Vanadium Corp. ("
LPV" or the
"
Company") (
TSX.V: VAND)
(
OTCQX: VANAF) is pleased to announce that
following the closing of the transaction between Largo Inc.’s
(“
Largo”) (NASDAQ, TSX: LGO) subsidiary, Largo
Clean Energy Corp. (“
LCE”) and affiliates of
Stryten Energy LLC (“
Stryten”), the newly created
Storion Energy, LLC (“
Storion”) will assume the
role of safekeeper for LPV’s held vanadium units previously managed
by LCE. Storion’s assumption of the safekeeper role for LPV’s
held vanadium units aligns with the Company’s strategy to
expand its presence in the rapidly growing long-duration energy
storage (“
LDES”) market through its unique
offering of leased vanadium required for cost-efficient deployment
of vanadium flow batteries.
Storion Energy, a joint venture between LCE and
Stryten, aims to create a vertically integrated domestic supply
chain for vanadium flow battery solutions. The partnership is
expected to leverage access to LPV’s owned vanadium, Largo’s
high-quality vanadium supply, Stryten’s advanced battery
manufacturing expertise and Storion’s innovative approach to
cost-efficient electrolyte production. The creation of Storion is
expected to streamline access to vanadium electrolyte, reduce
costs, and address critical energy storage needs for vanadium flow
battery companies in North America.
“LPV is excited to collaborate with Storion
Energy in its role as the new safekeeper of LPV’s held vanadium
units,” said Francesco D’Alessio, CEO of LPV. “Storion is expected
to drive revenue for LPV by leasing LPV’s vanadium through the
adoption of vanadium flow battery solutions in the U.S., and
driving greater demand for LPV’s leased vanadium units. The
establishment of Storion also supports LPV’s vision to accelerate
the deployment of vanadium-based LDES solutions in commercial and
industrial applications. By leveraging the unique leasing model
pioneered by LPV, which provides the ability to reduce the upfront
costs for vanadium flow battery adoption, Storion is expected to
play a pivotal role in advancing renewable energy integration and
enhancing grid stability through assisting in the deployment of
vanadium flow batteries going forward.”
About Storion Energy
Storion Energy intends to bring energy
resilience and security to the U.S. by removing the barrier to
entry for battery manufacturers to domestically sourced, price
competitive electrolyte used in vanadium redox flow batteries
(VRFB) for long-duration energy storage (LDES). Storion will be a
joint venture between a Stryten Energy affiliate and Largo Clean
Energy Corp., a subsidiary of Largo Inc., one of the world’s
largest and highest quality vanadium suppliers, that will support
scalable domestic electrolyte production to establish a fully
integrated vertical supply chain for utility-scale VRFB LDES
solutions. VRFB technology is a safe and reliable option to provide
long-duration energy storage greater than four hours to help ensure
grid stability and facilitate increased utilization of renewables
for businesses and consumers. Storion will have locations in
Wilmington, Massachusetts and Alpharetta, Georgia.
About Stryten Energy
Stryten Energy helps solve the world’s most
pressing energy challenges with a broad range of energy storage
solutions across the Essential Power, Motive Power, Transportation,
Military and Government sectors. Headquartered in Alpharetta,
Georgia, we partner with some of the world’s most recognized
companies to meet the growing demand for reliable and sustainable
energy storage capacity. Stryten powers everything from submarines
to subcompacts, microgrids, warehouses, distribution
centers, cars, trains and trucks. Our stored energy technologies
include advanced lead, lithium and vanadium redox
flow batteries, intelligent chargers and energy performance
management software that keep people on the move and supply chains
running. An industry leader backed by more than a century of
expertise, Stryten has The Energy to Challenge the
status quo and deliver top-performing energy solutions for today
and tomorrow. Learn more at stryten.com.
About Largo Inc.
Largo is a globally recognized supplier of
high-quality vanadium and ilmenite products, sourced from its
world-class Maracás Menchen Mine in Brazil. As one of the world’s
largest primary vanadium producers, Largo produces critical
materials that empower global industries, including steel,
aerospace, defense, chemical, and energy storage sectors. The
Company is committed to operational excellence and sustainability,
leveraging its vertical integration to ensure reliable supply and
quality for its customers.
Largo is also strategically invested in the
clean energy storage sector through its 50% ownership of Storion
Energy, a joint venture with Stryten Energy focused on scalable
domestic electrolyte production for utility-scale vanadium flow
battery long-duration energy storage solutions in the U.S.
Largo’s common shares trade on the Nasdaq Stock
Market and on the Toronto Stock Exchange under the symbol “LGO”.
For more information on the Company, please visit
www.largoinc.com.
About Largo Physical Vanadium Corp.
Largo Physical Vanadium Corp. (LPV) aims to
provide a secure, convenient and exchange-traded investment
alternative for investors interested in having direct exposure to
physical vanadium, which is essential to achieve a greener world in
key industries such as steel, aerospace and energy storage.
Vanadium is non-degrading and fully recyclable when used as
electrolyte in vanadium flow batteries and offers carbon reducing
attributes when used in steel alloying applications. LPV’s strategy
is not only to achieve appreciation through the acquisition of
vanadium, but to own and actively supply vanadium to end users of
vanadium flow batteries to advance to integration of renewable
energy in long duration storage. This strategy is integral to LPV’s
business plan, as it necessarily defrays the costs associated with
using vanadium in vanadium flow batteries through the unique
non-degradation characteristics of the metal.
LPV’s common shares trade on the TSX Venture
Exchange under the symbol "VAND”. For more information, please
visit www.lpvanadium.com.
For further information, please contact:
Francesco D’AlessioChief Executive
Officer+1.571.491.7827info@lpvanadium.com
Cautionary Statement on Forward-looking
Information:
This press release contains forward-looking
information under applicable securities legislation
(“forward-looking information”). Forward-looking information can be
identified by the use of forward-looking terminology such as
"plans", "expects" or "does not expect", "is expected", "budget",
"scheduled", "estimates", "forecasts", "intends", "anticipates" or
"does not anticipate", or "believes", or variations of such words
and phrases or statements that certain actions, events or results
"may", "could", "would", "might" or "will be taken", "occur" or "be
achieved". All information contained in this news release, other
than statements of current and historical fact, is forward looking
information. Forward-looking statements contained in this press
release include, but are not limited to, statements regarding LPV’s
strategy and business plans, the opportunities available to the
partnership, the anticipated benefits of the partnership, the
vanadium flow battery market and the value of, demand for and uses
for vanadium.
Forward-looking information is subject to known
and unknown risks, uncertainties and other factors that may cause
the actual results, level of activity, performance or achievements
to be materially different from those expressed or implied by such
forward-looking information, including but not limited to the risks
listed in the section entitled "Risk Factors" in LPV’s annual
MD&A for the fiscal year ended December 31, 2023, available on
SEDAR+ at www.sedarplus.ca. Forward-looking information is based on
the opinions and estimates of management as of the date such
information is provided. Although management of LPV has attempted
to identify important factors that could cause actual results to
differ materially from those contained in forward-looking
information, there may be other factors that cause results not to
be as anticipated, estimated or intended. There can be no assurance
that such information will prove to be accurate, as actual results
and future events could differ materially from those anticipated in
such information. Accordingly, readers should not place undue
reliance on forward-looking information. LPV does not undertake to
update any forward-looking information, except in accordance with
applicable securities laws. Readers should also review the section
entitled "Risk Factors" in LPV’s annual MD&A for the fiscal
year ended December 31, 2023, available on SEDAR+ at
www.sedarplus.ca.
Neither the TSXV nor its Regulation Services
Provider (as that term is defined in the policies of the TSXV)
accepts responsibility for the adequacy or accuracy of this
release.
Largo Physical Vanadium (TSXV:VAND)
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부터 11월(11) 2024 으로 12월(12) 2024
Largo Physical Vanadium (TSXV:VAND)
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부터 12월(12) 2023 으로 12월(12) 2024