Bushveld Minerals delighted with solar power and vanadium-based energy storage project
Bushveld Minerals Limited (LON:BMN) told investors it is delighted with the progress with a solar power and energy storage project at the Vametco mine site.
The ‘mini-grid’ project will comprise around 3.5 megawatts of solar photovoltaic (PV) generation and 4 megawatts hours of vanadium redox flow battery (VRFB) energy storage.
It will boost energy security for the mining operation and also demonstrate the utility of vanadium-based energy storage solutions for industrial settings.
READ: Bushveld raises US$35mln
Bushveld said the project will demonstrate the superior technical merits of long duration VRFB systems when paired with renewable energy, while providing a commercial return.
The mini-grid will supply around 10% of Vametco’s electrical energy consumption at any one time.
The company has so far secured government approval for the project, has selected its technologies providers and suppliers, and has inked a memorandum of understanding with a South African investment group which will be strategic and funding partner for the project.
A power purchase agreement was previously signed for the project along, separately, with a term-sheet for long-term debt funding.
“I am delighted with the progress of the Vametco mini-grid project,” said Fortune Mojapelo, Bushveld chief executive.
“In showcasing the business case for solar plus long duration VRFB solutions, this project will open up significant opportunities for further VRFB deployments.”
Mojapelo added: “Most importantly, we are building a large-scale solar project with a vanadium-based battery, to store the generated electricity.
“The vanadium comes from our mine and the battery, comes from Enerox, one of our VRFB manufacturing investments.
“The project has already attracted both debt and equity funding interest from reputable funding institutions which demonstrates the economics of such solar and VRFB mini-grids, even when compared to grid tariffs.”
Story by ProactiveInvestors
Source: https://www.proactiveinvestors.com/companies/news/933676/bushveld-minerals-delighted-with-solar-power-and-vanadium-based-energy-storage-project-933676.html
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world. Anyone can join. Anyone can contribute. Anyone can become informed about their world. "United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
LION'S MANE PRODUCT
Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules
Mushrooms are having a moment. One fabulous fungus in particular, lion’s mane, may help improve memory, depression and anxiety symptoms. They are also an excellent source of nutrients that show promise as a therapy for dementia, and other neurodegenerative diseases. If you’re living with anxiety or depression, you may be curious about all the therapy options out there — including the natural ones.Our Lion’s Mane WHOLE MIND Nootropic Blend has been formulated to utilize the potency of Lion’s mane but also include the benefits of four other Highly Beneficial Mushrooms. Synergistically, they work together to Build your health through improving cognitive function and immunity regardless of your age. Our Nootropic not only improves your Cognitive Function and Activates your Immune System, but it benefits growth of Essential Gut Flora, further enhancing your Vitality.
Our Formula includes: Lion’s Mane Mushrooms which Increase Brain Power through nerve growth, lessen anxiety, reduce depression, and improve concentration. Its an excellent adaptogen, promotes sleep and improves immunity. Shiitake Mushrooms which Fight cancer cells and infectious disease, boost the immune system, promotes brain function, and serves as a source of B vitamins. Maitake Mushrooms which regulate blood sugar levels of diabetics, reduce hypertension and boosts the immune system. Reishi Mushrooms which Fight inflammation, liver disease, fatigue, tumor growth and cancer. They Improve skin disorders and soothes digestive problems, stomach ulcers and leaky gut syndrome. Chaga Mushrooms which have anti-aging effects, boost immune function, improve stamina and athletic performance, even act as a natural aphrodisiac, fighting diabetes and improving liver function. Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules Today. Be 100% Satisfied or Receive a Full Money Back Guarantee. Order Yours Today by Following This Link.
| Visits: | 1,706,447,568 |
| Stories: | 8,445,606 |
Whistler Blowers, Insiders
