Storion Energy Takes Charge of Vanadium Units for Largo Physical Vanadium Corp.

On December 19, 2024, Largo Physical Vanadium Corp. (LPV) announced that it has appointed Storion Energy, LLC as the new safekeeper of its vanadium units. This decision comes after a successful transaction between Largo Inc. and Stryten Energy LLC, marking a significant change in the management of LPV's vanadium assets.

Storion Energy is a joint venture formed by Largo Clean Energy Corp., a subsidiary of Largo Inc., and Stryten Energy. This new partnership aims to create a strong domestic supply chain for vanadium flow battery solutions in North America.

The collaboration with Storion Energy aligns with LPV's commitment to enhance its role in the growing long-duration energy storage (LDES) market. By offering leased vanadium, the company aims to make vanadium flow battery technology more accessible and cost-efficient.

“We are eager to work with Storion Energy as our new safekeeper,” said Francesco D'Alessio, CEO of LPV. He believes this partnership will significantly boost LPV's revenue by meeting the increasing demand for leased vanadium units as vanadium flow batteries gain popularity in the U.S.

LPV’s strategy revolves around providing an affordable route to vanadium flow battery adoption by reducing upfront costs through its leasing model. This innovation is expected to further renewable energy integration and contribute to grid stability as the deployment of vanadium-based energy storage solutions accelerates.

About Storion Energy

Storion Energy's mission is to enhance energy resilience and security in the U.S. by simplifying access to competitively priced, domestically sourced electrolyte for vanadium redox flow batteries (VRFB). The joint venture aims to establish a noteworthy supply chain from battery production to electrolyte sourcing.

With operations planned in Wilmington, Massachusetts, and Alpharetta, Georgia, Storion is set to address vital energy storage needs by making VRFB technology more reliable and accessible for businesses and consumers alike. Vanadium flow batteries are noted for their capability to provide energy storage for over four hours, which is essential for maximizing renewable energy use.

About Stryten Energy

Stryten Energy develops a range of energy storage solutions catering to multiple sectors, including transportation and military applications. The company, based in Alpharetta, Georgia, partners with leading firms to expand the demand for sustainable energy storage alternatives.

About Largo Inc.

Largo Inc. is a prominent supplier of high-quality vanadium and ilmenite, obtained from its Maracás Menchen Mine in Brazil. With a commitment to sustainability, the company is one of the world's largest primary vanadium producers, supplying materials crucial for various industries, such as steel and energy storage.

Largo is also heavily invested in the clean energy storage sector. Its 50% equity stake in Storion Energy reflects its focus on producing scalable electrolyte solutions for utility-scale VRFB LDES applications in the U.S.

About Largo Physical Vanadium Corp.

Largo Physical Vanadium Corp. aims to provide an accessible and secure investment option focused on physical vanadium, vital for numerous industries including energy storage and renewable sources. LPV’s unique strategy not only encompasses the acquisition and management of vanadium but also actively focuses on supplying it to enhance the integration of renewable sources into energy systems.

Vanadium, Energy, Storage