22 July 2002 – Canadian power storage firm Vanteck (VRB) Technology Corp. (Vanteck) has this month established a European subsidiary, Vanteck (VRB) Technology GmbH (Vanteck GmbH). Based in Vienna, Austria, Vanteck GmbH will be responsible for marketing, sales and corporate development in Europe of its Vanadium Storage battery system.
Vanteck will own 45 per cent of the new subsidiary with 55 per cent being owned by European private investors.
At the same time Vanteck announced that its new European subsidiary has entered into a two stage project agreement with Austrian R & D firm Funktionswerkstoffe GmbH. The initial stage of the project will concentrate on cell stack optimization, component optimization and creating a consortium of manufacturers capable of producing all components required to produce VRBPower Systems in bulk. In addition, a comprehensive European marketing plan will be established.
The second stage of the project will be the design and construction of prototype VRBPower Systems with direct charging from solar panels and small wind turbines. These systems will provide up to 10kW peak output with 20 kWh capacity and 1kW peak renewable energy power supply.
“Renewable energy is both cost effective as well as an important climate protection strategy. We are excited to be working on projects that have positive global environmental impact” said Don Nicholson, President & CEO of Vanteck.
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.
The VRB system was successfully trialled at Stellenbosch University in South Africa which led to two commercial installation being announced this year. In January it agreed to supply a VRB system for a supply support project for PacifiCorp in Southeastern Utah. Earlier this month, Pinnacle VRB Limited, a subsidiary of Vanteck (VRB) Technology Corp. (Vanteck), won the contract for the energy storage component of Hydro Tasmania’s King Island wind energy expansion project in Australia.