American Vanadium Corp.(TSXV:AVC) announced that it is working on designs for new higher value vanadium products. Recent lab tests confirmed that the Company has the ability to produce higher purity vanadium as its Gibellini project.
As quoted in the press release:
As the Company continues to make progress with the permitting process and detailed engineering design of the Gibellini Project, the Company will focus on producing vanadium electrolyte, powders, crystals and oxide pellets for premium markets such as grid scale flow battery systems, chemical and pollution control applications as well as for the aerospace and defense industry.
American Vanadium, President and CEO, Bill Radvak, commented:
As we develop the only domestic vanadium mine, our overriding corporate objective remains to build the vanadium flow battery business in the US through partnerships with global technology leaders. As the energy storage industry grows over time, it will consume an ever increasing percentage of our product mix as vanadium electrolyte. In the meantime, we can now increase project profitability by directing our product line towards other higher margin products rather than simply selling “purple flake” to the steel industry.