VANCOUVER, Sept. 30, 2019 /CNW/ - VanadiumCorp Resource Inc.
(TSX-V: "VRB") (the "Company") is pleased to announce its plans to
open a vanadium redox flow battery "VRB","VRFB" research and
development facility in Karlsruhe, Germany, focused on next generation flow
battery innovation.
"We are in detailed negotiations with potential manufacturers
and end users. An engineering team of industry veterans will be led
by our new Chief Technology Officer, Dr. Gilles Champagne." commented, Adriaan Bakker, Chief Executive Officer of
VanadiumCorp, "Focusing on sustainability and innovation for the
last 12 years has led VanadiumCorp to what may facilitate the
electrification of mobile applications such as vehicles, trains and
ships. Innovation of the VRFB would also benefit the global energy
storage market as it shifts towards long duration grid-connected
systems."
The Company would also like to clarify disclosure from
September 26, 2019 published on
www.batteriesinternational.com. VanadiumCorp has identified key
improvements over current technology to increase the energy density
of vanadium electrolyte as well as the power density of the
conventional stack in a VRFB. VanadiumCorp intends to integrate
vanadium directly into its own battery systems at a future date and
is not currently producing VRFB's. Further announcements regarding
the future VRFB facility in Germany will be announced in the fourth
quarter of 2019.
VanadiumCorp Resource Inc. is developing dedicated
vanadium supply and disruptive technologies for energy storage with
a 100% green mandate. More information on active projects and
new vanadium energy technologies can be found on The Company's
website at www.vanadiumcorp.com.
On behalf of the board of VanadiumCorp:
Adriaan Bakker
President and Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Cautionary & Forward-Looking Statements
This release contains forward-looking statements. All
statements other than statements of present or historical fact are
forward-looking statements, including statements with respect to
the anticipated use of Private Placement proceeds and anticipated
receipt of final TSX Venture Exchange acceptance for the Private
Placement. Forward-looking statements include words or
expressions such as "will", "subject to", "expect" and other
similar words or expressions. Factors that could cause future
results or events to differ materially from current expectations
expressed or implied by the forward-looking statements include
general business, economic, competitive, political and social
uncertainties; the state of capital markets and risks that may
impact the Company's business, operations and financial condition.
Although the Company believes that the expectations reflected in
these forward-looking statements are reasonable, undue reliance
should not be placed on them because the Company can give no
assurance that they will prove to be correct. Since
forward-looking statements address future events and conditions, by
their very nature they involve inherent risks and uncertainties.
Additional information on these and other factors that could affect
the Company's operations and financial results are included in
reports on file with Canadian securities regulatory authorities and
may be accessed through the SEDAR website (www.sedar.com). We
disclaim any obligation to update or revise these forward-looking
statements, except as required by applicable law.
SOURCE VanadiumCorp Resource Inc.