15 July 2002 – Pinnacle VRB Limited, a subsidiary of Vanteck (VRB) Technology Corp. (Vanteck), has won the contract for the energy storage component of Hydro Tasmania’s King Island wind energy expansion project in Australia.

Melbourne-based Pinnacle VRB won the tender to construct and install a VRB with a Rated Output of 200kW and a Rated Output Time of two hours.

In a statement, Pinnacle said it was pleased to have its technology accepted and installed in Australia, particularly in conjunction with Tasmania’s Hydro-Electric Corporation. When completed this will be the first VRB to be installed in Australia and the fourth outside of Japan with the other three being a small battery in Italy, and Vanteck VRB Technology Corporation’s installations in the USA and in South Africa.

Based in Vancouver, Canada, Vanteck is an alternative electrochemical energy storage company that has commercialized the patented Vanadium Redox Battery (VRB) Energy Storage System. The VRB is a technology that effectively stores and delivers electricity on demand, improves power reliability, power quality and reduces costs associated with applications for load levelling, peak shaving, and the supply of essential Uninterruptible Power Systems.

Characterized by low ecological impact, the VRB technology uses conducting plastic electrodes and contains no heavy metals. The complete unit, known as the VRBPower System, has mobile design capabilities, allowing the unit to be relocated as may be needed in the future.

Vanteck is listed on the TSX (“VRB”), the OTC (“VTTCF”) and on the Frankfurt Exchange (“VNK”).