Here’s to the Future of Next Generation Battery Storage Units
Updated: Dec 28, 2020
The power of partnership is accelerating StorEn’s development of the next generation of battery storage units. Our partners have expertise in the key areas needed to accelerate global sales and distribution of StorEn’s vanadium batteries.
Multicom Resources and Freedom Energy – Our Partners for Manufacturing and Distribution
November 2017 marked the start of StorEn’s agreement with Australia-based vanadium mine developer Multicom Resources Pty Ltd. This agreement establishes a vertically integrated supply chain for low-cost manufacturing, sale, and distribution of StorEn proprietary vanadium flow batteries.
The Multicom project is one of the largest vanadium deposits globally. With a well-defined drilled resource, the project is rapidly progressing through key milestones related to feasibility studies and environmental and permitting approvals.
Connected to the mine development Multicom, through its subsidiary Freedom Energy, is actively progressing discussions with Queensland local government officials regarding the establishment of an assembly and distribution factory for StorEn batteries in North Queensland.
Vanadium Pentoxide will be trucked from the mine to the distribution facility and converted to electrolyte. Flat packed StorEn units will be shipped to the factory where they will be assembled and distributed domestically within Australia and exported to the Asia Pacific region. By 2025, it is envisaged that 70,000 units per year will be assembled and distributed from Queensland.
In addition to the North Queensland facility, Freedom Energy is also progressing discussions with partners in mainland Asia who will act as agents to establish a strong sales pipeline for StorEn batteries in this region. These agents will also investigate secondary sites on the mainland for satellite distribution centres.
What Partnerships Mean for StorEn’s Success
The StorEn research and development team brings a 20-year shared history of working together. We have demonstrated success in the battery industry, with patents for fuel cells, cogeneration and energy storage. Our new stack embedding StorEn’s innovative patent-pending technology was recently shipped to the Environment Park for validation.
When the Queensland mine becomes operational, our partnership with mine developer Multicom means we will have an exclusive source of vanadium for the next 10 years under controlled pricing. Low cost stable pricing will maintain the competitive advantage of StorEn batteries. Both of our companies have the option to acquire equity interest in the other, making our work together mutually beneficial.
StorEn’s technical expertise with vanadium flow batteries united with the world class vanadium deposit being developed by Multicom creates a strong foundation for success. In addition, estimated demand by the internal American market, coupled with the sales pipeline being established by Freedom Energy in the Asia Pacific region is setting the company up for significant success.
Join us on our journey to success.