Australian Vanadium Ltd (ASX:AVL), formally known as Yellow Rock Resources, is focussed on vanadium at its flagship Gabanintha project in Western Australia.
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Yellow Rock Resources eyes vanadium battery storage market
Yellow Rock Resources (ASX:YRR) is moving up the value chain signalling an intention to claim a chunk of the growth in the vanadium battery market and becoming a vertically integrated vanadium company.
The grid-scale energy storage industry is tipped to grow to US$100 billion by 2020 with Vanadium Redox Flow Batteries (VRFB) expected to capture up to 30% of this market.
Yellow Rock's Gabanintha Vanadium Project is Australia's highest grade and best located vanadium-titanium-iron deposit at Gabanintha in Western Australia.
An upgrade is underway to the resource base at Gabanintha after recent drilling returned highest ever vanadium grades of up to 2.2% V2O5.
This will in turn pave the way to more definitive economic studies in 2016.
As part of this strategy, the company has created subsidiary company VSUN Pty Ltd to develop opportunities in the distribution of VRFBs.
Yellow Rock Resources move to become a vertically integrated vanadium company will allow to claim a chuck of the growing battery storage market, with the grid-storage sector alone estimated to be worth US$100 billion by 2020.
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