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The Vanadium Redox Flow battery and
South Africa's export opportunity
by Mikhail Nikomarov, Bushveld Energy
Introduction and objectives
• Mikhail Nikomarov, co-founder
• An energy storage solutions company, part of
Bushveld Minerals, a R1.5bil vanadium
minerals company, producing ~4% of global
vanadium here in SA;
• Exclusively focusing on vanadium redox flow
battery technology, including marketing and
project development;
• In process of delivering a 450kWh into
Eskom’s RT&D facility;
• Objective is to establish a global VRFB supply
chain in SA, starting with vanadium electrolyte.
SOURCE: www.bushveldenergy.com
Objectives of presentation
• Overview the VRFB
technology, including
deployment, design,
benefits and downsides
in battery performance,
safety and sustainability
and the technology-
specific business cases;
• Present an argument for
why South Africa is
uniquely positioned to
benefit in the global
success of VRFBs;
• Discuss questions and
answers at end of
presentation.
Some trivia:
What battery technology was used in the largest stationary
energy storage battery installed in 2015?
(Measured in watt-hour capacity)
Possible answers
A.Lithium ion technology (Li-ion)
B.Vanadium redox flow battery technology (VRFB)
C.Sodium Sulphur technology (NaS)
Answer: VRFB
60 megawatt hour VRFB from Sumitomo in Hokkaido,
Japan
SOURCE: Sumitomo
What battery technology was used in the largest stationary
energy storage battery installed in 2016?
Possible answers
A.Lithium ion technology (Li-ion)
B.Vanadium redox flow battery technology (VRFB)
C.Zinc bromide flow technology (ZBFB)
Answer: Lithium ion
SOURCE: www.aesenergystorage.com
120 megawatt hour lithium ion battery from AES and LG in
Escondido, California, USA
What battery technology is used in the largest stationary
energy storage battery being installed right now?
Possible answers
A.Lithium ion technology (Li-ion)
B.Vanadium redox flow battery technology (VRFB)
C.Zinc Metal Air battery technology
Answer: VRFB
SOURCE: Rongke Power
800 megawatt hour VRFB by Rongke Power in Dalian, China
(400MWh for 2017 deployment)
Vanadium is the simplest and most developed flow battery
How does a vanadium redox flow battery (VRFB) work?
▪ A flow battery was first developed by NASA in the 1970s and is charged and discharged by a
reversible reduction-oxidation reaction between the battery’s two liquid vanadium electrolytes
▪ Unlike conventional batteries, electrolytes are stored in separated storage tanks, not in the
power cell of the battery
▪ During operation these electrolytes are pumped through a stack of power cells, or membrane,
where an electrochemical reaction takes place and electricity is produced
SOURCE: IEEE Spectrum: It’s Big and Long-Lived, and It Won’t Catch Fire: The Vanadium Redox-⁠Flow Battery, 26 October 2017
• Vanadium can exist in
four different states,
allowing for a single
element to be used
• Benefits include
simplicity and no
cross- contamination
• In 2010, US DoE
funded research at
PNNL yielded an
improved electrolyte
formula
VRFB systems provide long life and flexible performance
SOURCE: IRENA: ELECTRICITY STORAGE AND RENEWABLES: COSTS AND MARKETS TO 2030
VRFB’s are an excellent
fit for daily, multi-
hour, deep cycle
storage (e.g. with solar
PV), grid support (e.g.
peak shaving, system
balancing, capital
deferral) and off-grid
or minigrid
installations
Technically, a VRFB is intrinsically safer than solid state
batteries because it has no “thermal runaway”
1 Captain Paiss is a 21-year veteran of the San Jose Fire Department and the primary representative of the International Association of Fire Fighters (IAFF) to NFPA 70
(NEC) and NFPA 855 ESS standards.
SOURCE: “Energy Storage System Safety: Vanadium Redox Flow Vs. Lithium-Ion,” June 2017, Energy Response Solutions, Inc., energyresponsesolutions.com
UPS cargo plane, Philadelphia
Tesla Model S
30MW Kahuku project, Hawaii
Fire safety is an inherent risk
of solid state batteries
Unsurprisingly, VRFBs are safer across a broad range of factors, when
compared to lithium-ion (or other technologies)
Analysis of typical hazards by ESS Type
“It is clear that Vanadium flow
battery systems offer significant
safety advantages to li-ion”
- Fire Captain Matthew Paiss1
For many applications, VRFBs yield the lowest levelised cost
of energy storage
Lazard’s analysis shows that VRFBs already have the lowest costs in the industry
SOURCE: Lazard’s Levelised Cost of Energy Storage Analysis – Version 3.0 (November 2017); Bushveld Energy analysis
USD / kWh, 2017, levelised costs
-29%
-26% -32%
The technology is especially suited to the unique challenges
of South African electricity
Source: Bushveld Energy; Parsons Engineering
Improved regional and municipal integration of renewables (where the
battery can improve the power quality and allow for more renewable
energy connection)
Higher load factor of the existing base-load fleet (i.e. power plants can be
run at their best utilisation levels at night, while batteries are charged, and
coal does not need to be used as back-up power / spinning reserve)
Transmission and distribution lines can be run at a constant load, which
will increase system utilisation, reduce losses and defer costly new
infrastructure investment
Electricity consumers can reduce peak time energy costs (i.e. the dual-peak
demand and tariff structure in South Africa, would allow for a VRFB to run
two cycles per day to reduce peak time grid demand)
"VRFB represents a mature and well understood energy storage technology that is well
suited for energy intensive energy storage applications. The relative ease of vanadium
electrolyte production and the availability of vanadium in South Africa further enhances
the attractiveness of this specific flow technology.”
–SA South Africa Energy Storage Technology and Market Assessment
South Africa is naturally positioned for vanadium-based
industry but has not used this competitive advantage
Vanadium forms one of SA’s largest mineral
resources…
% of global supply reserve base located in SA, 20031
SOURCE: Vanitec, SAMI, 2009; South Africa Mining Industry Business Opportunities Handbook, 2013; USGS, 2014
Percent
1 2008 data for Gold and 2014 data for Vanadium
Vanadium forms one of SA’s largest mineral
resources…
…but production of vanadium in SA has
fallen by nearly half
Annual South African vanadium production
Metric Tons of Vanadium (MTV)
-43%
Bushveld Minerals and Glencore are the only two remaining
companies, currently producing vanadium in South Africa
Vanadium electrolyte contributes ~30% to the overall cost of the
VRFB system, allowing SA to participate in a large global value chain
VRFB cost breakdown
Percent
• Larger VRFB systems have a higher relative
contribution of Vanadium and local content of
up to 80% is possible for SA-installed systems;
• It is more important to consider export
potential, when evaluating “the creation of jobs
and localisation.”
Cooperating jointly with
the IDC and international
partners, Bushveld Energy
is already progressing
toward establishing a local
VRFB supply chain
SOURCE: IRENA: ELECTRICITY STORAGE AND RENEWABLES: COSTS AND MARKETS TO 2030; Bushveld Energy
Thank you for your attention.
Any questions?

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The Vanadium Redox Flow Battery and South Africa's Export Opportunity

  • 1. The Vanadium Redox Flow battery and South Africa's export opportunity by Mikhail Nikomarov, Bushveld Energy
  • 2. Introduction and objectives • Mikhail Nikomarov, co-founder • An energy storage solutions company, part of Bushveld Minerals, a R1.5bil vanadium minerals company, producing ~4% of global vanadium here in SA; • Exclusively focusing on vanadium redox flow battery technology, including marketing and project development; • In process of delivering a 450kWh into Eskom’s RT&D facility; • Objective is to establish a global VRFB supply chain in SA, starting with vanadium electrolyte. SOURCE: www.bushveldenergy.com Objectives of presentation • Overview the VRFB technology, including deployment, design, benefits and downsides in battery performance, safety and sustainability and the technology- specific business cases; • Present an argument for why South Africa is uniquely positioned to benefit in the global success of VRFBs; • Discuss questions and answers at end of presentation.
  • 3. Some trivia: What battery technology was used in the largest stationary energy storage battery installed in 2015? (Measured in watt-hour capacity) Possible answers A.Lithium ion technology (Li-ion) B.Vanadium redox flow battery technology (VRFB) C.Sodium Sulphur technology (NaS)
  • 4. Answer: VRFB 60 megawatt hour VRFB from Sumitomo in Hokkaido, Japan SOURCE: Sumitomo
  • 5. What battery technology was used in the largest stationary energy storage battery installed in 2016? Possible answers A.Lithium ion technology (Li-ion) B.Vanadium redox flow battery technology (VRFB) C.Zinc bromide flow technology (ZBFB)
  • 6. Answer: Lithium ion SOURCE: www.aesenergystorage.com 120 megawatt hour lithium ion battery from AES and LG in Escondido, California, USA
  • 7. What battery technology is used in the largest stationary energy storage battery being installed right now? Possible answers A.Lithium ion technology (Li-ion) B.Vanadium redox flow battery technology (VRFB) C.Zinc Metal Air battery technology
  • 8. Answer: VRFB SOURCE: Rongke Power 800 megawatt hour VRFB by Rongke Power in Dalian, China (400MWh for 2017 deployment)
  • 9. Vanadium is the simplest and most developed flow battery How does a vanadium redox flow battery (VRFB) work? ▪ A flow battery was first developed by NASA in the 1970s and is charged and discharged by a reversible reduction-oxidation reaction between the battery’s two liquid vanadium electrolytes ▪ Unlike conventional batteries, electrolytes are stored in separated storage tanks, not in the power cell of the battery ▪ During operation these electrolytes are pumped through a stack of power cells, or membrane, where an electrochemical reaction takes place and electricity is produced SOURCE: IEEE Spectrum: It’s Big and Long-Lived, and It Won’t Catch Fire: The Vanadium Redox-⁠Flow Battery, 26 October 2017 • Vanadium can exist in four different states, allowing for a single element to be used • Benefits include simplicity and no cross- contamination • In 2010, US DoE funded research at PNNL yielded an improved electrolyte formula
  • 10. VRFB systems provide long life and flexible performance SOURCE: IRENA: ELECTRICITY STORAGE AND RENEWABLES: COSTS AND MARKETS TO 2030 VRFB’s are an excellent fit for daily, multi- hour, deep cycle storage (e.g. with solar PV), grid support (e.g. peak shaving, system balancing, capital deferral) and off-grid or minigrid installations
  • 11. Technically, a VRFB is intrinsically safer than solid state batteries because it has no “thermal runaway” 1 Captain Paiss is a 21-year veteran of the San Jose Fire Department and the primary representative of the International Association of Fire Fighters (IAFF) to NFPA 70 (NEC) and NFPA 855 ESS standards. SOURCE: “Energy Storage System Safety: Vanadium Redox Flow Vs. Lithium-Ion,” June 2017, Energy Response Solutions, Inc., energyresponsesolutions.com UPS cargo plane, Philadelphia Tesla Model S 30MW Kahuku project, Hawaii Fire safety is an inherent risk of solid state batteries Unsurprisingly, VRFBs are safer across a broad range of factors, when compared to lithium-ion (or other technologies) Analysis of typical hazards by ESS Type “It is clear that Vanadium flow battery systems offer significant safety advantages to li-ion” - Fire Captain Matthew Paiss1
  • 12. For many applications, VRFBs yield the lowest levelised cost of energy storage Lazard’s analysis shows that VRFBs already have the lowest costs in the industry SOURCE: Lazard’s Levelised Cost of Energy Storage Analysis – Version 3.0 (November 2017); Bushveld Energy analysis USD / kWh, 2017, levelised costs -29% -26% -32%
  • 13. The technology is especially suited to the unique challenges of South African electricity Source: Bushveld Energy; Parsons Engineering Improved regional and municipal integration of renewables (where the battery can improve the power quality and allow for more renewable energy connection) Higher load factor of the existing base-load fleet (i.e. power plants can be run at their best utilisation levels at night, while batteries are charged, and coal does not need to be used as back-up power / spinning reserve) Transmission and distribution lines can be run at a constant load, which will increase system utilisation, reduce losses and defer costly new infrastructure investment Electricity consumers can reduce peak time energy costs (i.e. the dual-peak demand and tariff structure in South Africa, would allow for a VRFB to run two cycles per day to reduce peak time grid demand) "VRFB represents a mature and well understood energy storage technology that is well suited for energy intensive energy storage applications. The relative ease of vanadium electrolyte production and the availability of vanadium in South Africa further enhances the attractiveness of this specific flow technology.” –SA South Africa Energy Storage Technology and Market Assessment
  • 14. South Africa is naturally positioned for vanadium-based industry but has not used this competitive advantage Vanadium forms one of SA’s largest mineral resources… % of global supply reserve base located in SA, 20031 SOURCE: Vanitec, SAMI, 2009; South Africa Mining Industry Business Opportunities Handbook, 2013; USGS, 2014 Percent 1 2008 data for Gold and 2014 data for Vanadium Vanadium forms one of SA’s largest mineral resources… …but production of vanadium in SA has fallen by nearly half Annual South African vanadium production Metric Tons of Vanadium (MTV) -43% Bushveld Minerals and Glencore are the only two remaining companies, currently producing vanadium in South Africa
  • 15. Vanadium electrolyte contributes ~30% to the overall cost of the VRFB system, allowing SA to participate in a large global value chain VRFB cost breakdown Percent • Larger VRFB systems have a higher relative contribution of Vanadium and local content of up to 80% is possible for SA-installed systems; • It is more important to consider export potential, when evaluating “the creation of jobs and localisation.” Cooperating jointly with the IDC and international partners, Bushveld Energy is already progressing toward establishing a local VRFB supply chain SOURCE: IRENA: ELECTRICITY STORAGE AND RENEWABLES: COSTS AND MARKETS TO 2030; Bushveld Energy
  • 16. Thank you for your attention. Any questions?