American Vanadium Corp., a mining company developing its world class Nevada-based vanadium deposit, has entered into a business relationship with GILDEMEISTER energy solutions of Germany - a part of GILDEMEISTER group - which holds a leading position worldwide as a producer of cutting machine tools as well as integrated energy solutions for the production, storage and utilization of renewable energies. American Vanadium and GILDEMEISTER have unveiled their memorandum of understanding to explore various joint venture and partnership arrangements with the objective of being a leading provider of energy storage and micro grid solutions in North America. Senior officials of both companies are in New York this week to meet with senior state, municipal, and transit officials.
“Utilizing GILDEMEISTER’s fully developed and commercialized CellCube energy storage system and American Vanadium's stably priced supply of high purity vanadium electrolyte, the companies together present a unique opportunity to cooperate in the U.S. to rapidly supply the growing energy storage and renewable energy market,” says Ron MacDonald, executive chairman of American Vanadium.
“The companies will examine various business models that will allow for the rapid and economic adaption of Vanadium Redox Flow Batteries,” says Lars Möllenhoff, managing director of Cellstrom GmbH, part of GILDEMEISTER energy solutions. “We have commercialized a unique energy storage solution with our CellCube, a powerful, durable and low maintenance large scale vanadium redox flow battery that can be incorporated into everyday energy systems. Our battery system ensures a clean, emission-free energy supply at all times, characterized by high reliability, high stability, and very fast reaction times.”