The Perth vanadium battery produced by Protean Energy Limited (ASX: POW) is working in a planned and systematic manner. It is able to successfully get attached to the local grid. It is also performing the cycle of charge and discharge of battery twice a day.
After the successful completion of the project, Korean Institute of Energy Technology Evaluation and Planning (KETEP) will issue $120,000 funds. This organization supports the funding of trials.
KORID Energy is 60% owned by POW. It is affiliated to KETEP. This company is also fetching offers from South East Asia in the battery. Recently KORID was awarded by KETEP an amount of $3 million for its significant contribution in multiparty 1MW/4MWh vanadium battery project.
In the month of June, the 25kW/100kWh V-KOR vanadium redox flow ‘plug and play’ battery was switched on OzLinc Industries at industrial fittings supplier situated in Perth. The test included charging based on three parameters. They were through only using solar energy, or through grid and lastly using both solar energy and grid.
Bevan Tarratt who is the chairman of Protean Energy Limited stated that this project is extremely valuable to understand the requirement while implementing the project at various regions across Australia.
This project has made a clear understanding of the development of the top 25kW stack. In this, the company was also able to identify the customer segment who will be benefitted from the upcoming plans of the company.
Now, the company is focused on delivering a highly efficient, affordable 25kW stack. The company is further taking steps to commercialize the 25kW stack in order to position V-KOR as a large-scale battery configuration.
The battery is made up of 2 electrolyte tanks. Each battery stack has the power of 12.5kW. There is one invertor of 25kW, an electrolyte pump along with a power management system. The battery will get charged through the solar system located on top of the roof which is of 21.1kW.
The plug and play battery are segmental in nature and it ranges from 2kW to as high as 20MW. At present, the company is receiving a number of inquiries in regard to V-KOR battery and it will slowly take a step ahead to commercialize these orders.
With the changing trends, most of the industries are looking towards Modular technologies. Based on the data received from these trials, the company has further planned to build a larger 25kW stack. Also, in the due course of time, the company will also work on improving the design of a containerized system for deploying large-scale electricity grid.
The company is also focusing the vanadium redox flow batteries for the energy industry as this technology is capable of storing more power and has power back up more than the lithium ion batteries. This will make it very clear to the company, the batteries that which battery is used for the domestic purpose and which for the industrial use.
By the end of the day on November 16, 2018, the market price of the share was A$0.024 with the market capitalization of A$7.37 million.
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