AMG Advanced Metallurgical Group N.V. Announces the Construction of its First Lithium Vanadium Battery for Industrial Power Management Applications
August 23 2021 - 1:00AM
AMG Advanced Metallurgical Group N.V. Announces the Construction of
its First Lithium Vanadium Battery for Industrial Power Management
Applications
Amsterdam,
23
August
2021 --- AMG Advanced
Metallurgical Group N.V. ("AMG", EURONEXT AMSTERDAM: "AMG") is
pleased to announce the construction of its first lithium vanadium
battery for industrial power management applications. As part of
its presence in the “circular economy” AMG is the world’s leading
recycler of vanadium products from industrial residues and waste.
This expertise includes high purity vanadium-based electrolytes,
the central component of vanadium redox flow batteries.
In energy intensive industrial manufacturing
applications, companies frequently seek to flatten
production-driven spikes of electricity demand to reduce costs and
avoid penalties charged by electricity suppliers. The traditional
solution has been to install a captive “stand by” power unit
running on diesel fuel. This solution is a tradeoff of lower
electricity costs for higher CO2 emissions.
AMG has developed an alternative concept in the
form of a large scale “hybrid” lithium vanadium redox flow battery
(“LIVA”) which avoids CO2 emissions. The lithium part of the new
battery design enables fast discharging including black start
abilities. The lithium battery is then recharged by the low-cost
vanadium battery which in turn is charged by the grid.
To manage the LIVA battery an advanced software
solution is essential. AMG is pleased to announce the acquisition
of Phyr7 GmbH, Heidelberg, a specialist for artificial intelligence
(AI) based power management solutions. The Phyr 7 software
ecosystem simulates and operates various energy storage assets like
lithium-ion and Vanadium Redox Flow batteries as well as
Gas-To-Power facilities with artificial intelligence routines and
self-learning algorithms. Besides maximizing the efficiency, safety
and lifetime of the batteries, the software enables the economic
integration of sector coupling strategies with renewable energies
and green hydrogen.
The first LIVA system will be installed in one
of AMG’s German manufacturing plants and is scheduled to go online
in the first quarter of 2022. Engineering has started for three
more systems, two in Germany and one in the US.
Phyr7 will be renamed LIVA Power Management
Systems GmbH, Frankfurt, and will manage AMG’s entrance into this
very large market opportunity. LIVA Power Management Systems will
be established with an initial capitalization of EUR 5
million. AMG Engineering is building the integrated
system, AMG Titanium & Coatings will supply the vanadium
electrolyte, and AMG Lithium is designing the lithium portion of
the battery.
Dr. Volker Koelln, Founder of Phyr7 GmbH, is the
CEO of LIVA Power Management Systems GmbH, and Holger Mueller-Rink
is CFO, holding the same position at AMG Lithium. Dr. Stefan
Scherer chairs the company’s Supervisory Board.
About AMG
AMG is a global critical materials company at
the forefront of CO2 reduction trends. AMG produces highly
engineered specialty metals and mineral products and provides
related vacuum furnace systems and services to the transportation,
infrastructure, energy, and specialty metals & chemicals end
markets.
AMG Clean Energy Materials combines our
recycling and mining operations producing materials for
infrastructure and energy storage solutions while reducing the CO2
footprint of both suppliers and customers. Clean Energy Materials
spans the vanadium, lithium, and tantalum value chains. AMG
Critical Materials Technologies combines our leading vacuum furnace
technology line with high-purity materials serving global leaders
in the aerospace sector. AMG Critical Minerals consists of our
mineral processing operations in antimony, graphite, and silicon
metal.
With approximately 3,000 employees, AMG operates
globally with production facilities in Germany, the United Kingdom,
France, the United States, China, Mexico, Brazil, India, Sri Lanka,
and Mozambique, and has sales and customer service offices in
Russia and Japan (www.amg-nv.com).
For further information, please
contact:AMG Advanced
Metallurgical Group
N.V. +1
610 975
4979Michele
Fischermfischer@amg-nv.com
Disclaimer
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herein to reflect any change in AMG's expectations with regard
thereto or any change in events, conditions, or circumstances on
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