The SPV will develop a next-generation redox flow-battery stack based on a breakthrough high-energy-density vanadium electrolyte that is specifically formulated for marine propulsion applications. ‘
As part of the collaboration, Conoship will contribute marine engineering designs to integrate the more compact redox flow-battery into the propulsion systems of marine vessels and ships. VanadiumCorp will contribute new flow-battery designs, a high-energy-density electrolyte formulation, manage research and development, and provide its network of manufacturing partners. Vega will arrange project financing, contribute fleet operations expertise, and conduct field testing of the marine battery prototype.
According to Canada-based VanadiumCorp, key advancements in energy density ‘form a strong business case’. ‘Greenhouse gas reduction is exceptionally challenging for the shipping industry,’ said Adriaan Bakker, CEO of VanadiumCorp. ‘The industry’s 2050 climate goal of halving greenhouse gas emissions from 2008 levels can only be achieved with the accelerated construction of Zero-Emission Ships and novel solutions.’
The SPV will target the zero emission shipping markets with next generation redox flow batteries.