CellCube to de-risk vanadium supply and price risk
The current microgrid boom and new 24/7 net-zero renewable applications move the energy storage demand towards longer duration of 8-hour plus. CellCube and U.S. Vanadium have expanded their sales agreement to cover the increasing demand for vanadium redox flow battery electrolyte.
The 5-year supply agreement for up to 3 million liters / year comes with a price cap and is the first step of CellCube’s strategy to secure access to vanadium electrolyte long-term and to reduce dependencies on volatile vanadium price for their business growth.
Wr. Neudorf (Austria), Hot Springs, AR (USA), February 24th, 2022 – The market for long-duration energy storage solutions has reached an all-time high. Especially, the demand for vanadium redox flow batteries (VRFB) has been booming during the last year. To secure future businesses, facing an increasingly challenging supply market, technology leader Enerox – selling VRFB infrastructure under its brand CellCube – signed an agreement with its electrolyte supplier U.S. Vanadium in February 2022. The contractual extension includes long-term supply assurance clauses for up to 3 million liters / year as well as a price cap over the 5-year term.
“As part of our go-to-market in North America we want to use electrolyte which has been regionally processed within North America ensuring long-term deliverability at a competitive price”, says Enerox CEO Alexander Schoenfeldt and continues “We are pleased to have secured access to U.S.-Vanadium’s ultra-high pure electrolyte long-term which in combination with our own post-production handling in the US marks the opening of a new era of cooperation in the industry, aimed at more standardization of electrolyte and its processing to achieve high quality and performance for a 20-year plus operation without any capacity loss.”
The microgrid market segment in the US contributes significantly to the exploding demand and challenging vanadium supply situation. A key CellCube reference, just being installed in the US as part of a resilient and sustainable microgrid, has been the kick-off project for the cooperation with USV. “This agreement reflects today’s rapidly accelerating growth of the vanadium redox flow battery industry and of US Vanadium’s ability to supply VRFB manufacturers with Made-in-America ultra-high-purity electrolyte,” says US Vanadium CEO Mark A. Smith. “We look forward to supplying CellCube with the world’s finest and highest purity VRFB electrolyte and helping to fuel CellCube’s continued growth around the world.”
Alexander Schoenfeldt adds, that “following the initial step of securing long-term purchase prices for our gigawatt-hour pipeline, CellCube is working now to establish EVES – an Enerox Vanadium Electrolyte Service which we will roll-out throughout other CellCube projects and regions.”
Contact: Yvonne Steinhaeusser
+43 676 843 669 126
About CellCube – Enerox GmbH
Under its trademark ‘CellCube’ the Austrian based Enerox GmbH develops, manufactures and distributes vanadium redox flow batteries. ‘VRFB’s are sustainable, long-duration energy storage systems, improving and securing the consumption of energy from renewable sources. Enerox is a developing pioneer and the global technology and industry leader in its field of operation. The bankable VRFB systems suite various microgrid applications alongside four focussed business segments comprising: renewable energy storage for industrial customers, commercial and private deployment, green energy storage for remote microgrids and island solutions as well as long-term back-up systems for green and critical infrastructure facilities. CellCube systems have been deployed at over 130 sites on the planet.