- Phenom Resources has submitted multiple grant applications for government funding, the company said Thursday
- The Vancouver-based company submitted the applications for U.S. Federal Government funding
- Two grant applications have been submitted to the Department of Energy and two further applications have been submitted to the Department of Defense
- All applications for funding relate to the company’s vanadium resource at its 100-percent owned Carlin Vanadium Project in north-central Nevada
- Phenom Resources is up 2.7 percent, trading at $0.38 at 10:45 am ET
Phenom Resources (PHNM) has submitted multiple grant applications for government funding, the company said Thursday.
The Vancouver-based company submitted the applications for U.S. Federal Government funding for the its Carlin Vanadium Project
Two grant applications have been submitted to the Department of Energy and two further applications have been submitted to the Department of Defense.
All applications for funding relate to the company’s vanadium resource at its 100-percent owned Carlin Vanadium Project in north-central Nevada.
The applications to the Department of Energy propose that the project has the potential to develop a material low-cost supply of vanadium which can be used in the manufacturing of vanadium redox batteries to foster greater integration and diversification of renewable electricity generation.
The two applications to Department of Defense argue the project has the potential of developing into a domestic source of vanadium for use in high strength and high temperature and oxidation resistant military materials.
“There will be stiff competition for Federal funding, but we feel we have a compelling story that fits the goals of both DOE and DOD funding opportunities. We eagerly await the evaluation stage of our applications. Vanadium has the unique advantage of fitting two consumer paths, for batteries and for infrastructural/military steel both of which the nation needs,” said President and CEO Paul Cowley.
Phenom Resources is up 2.7 percent, trading at $0.38 at 10:45 am ET.
