Storion Energy Launched to Establish a Domestic Supply of Flow Battery Components for Long-Duration Energy Storage

Stryten Energy LLC, a U.S.-based energy storage solutions provider, announced the signing of agreements by one of its affiliates, Stryten Critical E-Storage LLC, with a subsidiary of Largo Inc. (NASDAQ, TSX: LGO), Largo Clean Energy Corp. (LCE), to form the Storion Energy, LLC joint venture. Through this JV, the companies plan to bring high-quality domestically manufactured vanadium electrolyte at a competitive price through a leasing model to drive rapid commercialization and adoption of vanadium redox flow batteries.

Storion Energy’s mission is to remove the barriers to entry for battery manufacturers by enabling them to domestically source price-competitive components for flow batteries, including vanadium electrolyte. Storion combines access to high-quality vanadium supply from the only operating Western Hemisphere vanadium mine with domestic electrolyte production to establish a fully integrated vertical supply chain for utility-scale vanadium redox flow batteries (VRFB) used in long-duration energy storage (LDES) applications.

Storion will leverage its proprietary continuous manufacturing process and patented purification process to offer high-quality, domestically produced electrolyte to support the DOE’s goal to deliver reliable energy at $0.05/kWh by 2030. In addition, with exclusive access to Largo Physical Vanadium Corp., Storion offers a unique vanadium electrolyte leasing model that can help VRFB effectively compete with the up-front capital costs of lithium-ion battery energy storage systems (BESS).

“We are excited to announce the formation of Storion Energy to bring a much-needed, cost-effective domestic supply chain for vanadium electrolyte and component parts that will enable the rapid adoption of VRFB technology for utility-scale BESS applications,” said Mike Judd, CEO and President of Stryten Energy. “VRFBs are safe and reliable long-duration energy storage solutions that provide energy resilience for commercial and industrial applications where access to continuous sources of power is critical to their operations.”

Today, depending on the market price of vanadium, vanadium electrolyte typically constitutes a large portion of the overall VRFB system cost. Largo Physical Vanadium offers a unique vanadium leasing model, which provides a vehicle for investors to invest in physical vanadium assets while those non-degrading assets are stored in VRFBs. Storion will have exclusive rights to offer LPV-owned vanadium to the market in the form of leased vanadium electrolyte, providing its customers with access to an economical source for the electrolye used in VRFB solutions.

“The finalization of our joint venture with Stryten Energy marks an important step forward in accelerating LPV’s vanadium electrolyte leasing offering to the North American long-duration energy storage market,” said Francesco D’Alessio, President of LCE. “Storion Energy’s competitive VRFB pricing model is expected to challenge the dominance of lithium for utility-scale deployments, increase the adoption of this technology and secure leadership for the U.S. in this key energy infrastructure application.”

VRFB technology is a safe and reliable option to provide long-duration energy storage for greater than four hours to help ensure grid stability and facilitate increased utilization of renewables for businesses and consumers across the U.S. With proper maintenance, VRFBs can last more than 20 years without its electrolyte losing storage capacity. This longevity complements the lifespan of wind and solar installations. The electrolyte is infinitely recyclable, and the battery offers a near-limitless cycle life. These systems are also independently scalable in power and capacity. This scalability has the potential for substantial cost reduction when discharge time goes up, making VRFB the preferred option for sustainable large-scale energy storage.

Storion Energy | https://storion.com/

Stryten Energy | stryten.com

Largo Physical Vanadium | www.lpvanadium.com