Green technology company VanadiumCorp Resource has agreed to enter a trilateral partnership to commercially develop next-generation flow battery technology for zero-emission ships.
The new battery technology will help decarbonise in-port ship movements and shipping routes.
The partnership will be established as a Special Purpose Vehicle Company (SPV ), which will combine the expertise of CONOSHIP and VEGA with technical innovations from VanadiumCorp.
The three companies will work together to develop vanadium redox flow-battery technology (VRFB Battery) and high-energy-density electrolyte technologies for marine propulsion applications.
VanadiumCorp will work on new flow-battery designs and a high-energy-density electrolyte formulation, conduct research and development, and provide its manufacturing network to partners.
CONOSHIP will be responsible for marine engineering designs, which will integrate the more compact redox flow-battery into the propulsion systems of marine vessels.
Furthermore, VEGA will provide project financing, conduct field testing of the marine battery prototype, and contribute fleet operations expertise.
VanadiumCorp’s research and development in redox flow battery systems have been backed by CENELEST (the German-Australian Alliance for Electrochemical Technologies for the Storage of Renewable Energy), Fraunhofer Institute for Chemical Technology (ICT ), and the University of New South Wales (UNSW).
VanadiumCorp CEO Adriaan Bakker said: “Greenhouse gas reduction is exceptionally challenging for the shipping industry. The industry’s 2050 climate goal of halving greenhouse gas emissions from 2008 levels can only be achieved with the accelerated construction of zero-emission ships and novel solutions.”
VanadiumCorp stated that the SPV project will commence in Q1 2021.