- Sparton (SRI) applauds VRB Energy’s agreement to build China’s largest photo-voltaic solar integrated battery system
- VRB will build a 500 MWh PV and energy storage power station integrating its vanadium flow battery storage technology
- Sparton owns a minority interest in VRB Energy
- Sparton Resources is an exploration and development stage company with interests in properties in Canada and China
- Sparton Resources (SRI) is up 100 per cent and is currently trading at C$0.16 per share
Sparton (SRI) applauds VRB Energy’s agreement to build China’s largest photo-voltaic solar integrated battery system.
VRB signed the agreement on March 4, 2021 to build a 500 MWh PV and energy storage power station integrating its vanadium flow battery energy storage system.
The project will be located in Xiangyang, Hubei Province at a new industrial park complex that includes a vanadium flow manufacturing gigafactory and a vanadium flow battery energy research and development institute.
The Chinese Central Government has recommended vanadium flow batteries as the technology of choice for large-scale integrated battery installations.
Construction is scheduled to begin in May of 2021 with a 40 MW, 200 MWh system and 50 MW of annual battery manufacturing. The project will eventually generate 1000 MW of power annually.
VRB Energy is now the leading contender for multiple 100 MW-class projects scheduled under China’s infrastructure investment program. Many of these projects are located in provinces mandating up to 20 per cent storage capacity through solar and wind power projects.
On the international front, VRB is in discussions with a number of developers and utilities in the U.S., Australia and South Africa for additional 100 MW-class systems.
Lee Barker, Sparton’s CEO, commented,
“This announcement is another milestone in the evolution of VRB’s energy storage business. The choice to use VRB to build China’s biggest PV integrated energy storage system is a major breakthrough for the company and should create significant new business and value for all VRB stakeholders in the future. Sparton once again commends the VRB staff and management for this achievement.”
Sparton owns a minority interest in VRB and was instrumental in organizing High Power Exploration’s acquisition and reactivation of the company.
VRB is majority owned by High Power Exploration, which is a subsidiary of I-Pulse, a private technology development company.
Sparton Resources is an exploration and development stage company with interests in properties in Canada and China.
Sparton Resources (SRI) is up 100 per cent and is currently trading at C$0.16 per share as of 1:21 pm ET.
