Protean Energy Limited (“Protean” or “the Company”) is developing a vertically integrated vanadium business, based on the 490 Mlb V2O5/18.4 Mlb U3O8 Daejon Vanadium-Uranium Deposit in South Korea (“Daejon”), and the V-KOR vanadium redox flow battery (“VRFB”) technology. At Daejon Protean is in a 50:50 partnership with the KOSDAQ listed DST Company Ltd (“DST”, 033430.KOS, formerly KORID Inc) with the Company now moving to a 60% controlling interest (from 50%) in KORID Energy, the holder of the V-KOR battery technology with the partner also being DST.
Electrolyte development is also part of the vertical integration strategy with KORID Energy successfully producing a high energy density product. Recent times have seen a strong resurgence in the vanadium price (which is currently trading at a price of ~US$27/lb V2O5, after recent lows of US$5/lb), with this driven by a structural change in supply, and increasing demand with changing requirements for Chinese rebar, with this forecast to be further driven by the expected uptake in VRFBs – these factors present an ideal opportunity for Protean. Protean Energy Limited (“Protean” or “the Company”) is developing a vertically integrated vanadium business, based on the 490 Mlb V2O5/18.4 Mlb U3O8 Daejon Vanadium-Uranium Deposit in South Korea (“Daejon”), and the V-KOR vanadium redox flow battery (“VRFB”) technology. At Daejon Protean is in a 50:50 partnership with the KOSDAQ listed DST Company Ltd (“DST”, 033430.KOS, formerly KORID Inc) with the Company now moving to a 60% controlling interest (from 50%) in KORID Energy, the holder of the V-KOR battery technology with the partner also being DST. Electrolyte development is also part of the vertical integration strategy with KORID Energy successfully producing a high energy density product.
Recent times have seen a strong resurgence in the vanadium price (which is currently trading at a price of ~US$27/lb V2O5, after recent lows of US$5/lb), with this driven by a structural change in supply, and increasing demand with changing requirements for Chinese rebar, with this forecast to be further driven by the expected uptake in VRFBs – these factors present an ideal opportunity for Protean.
