Golden Share Resources Corporation announces that it has entered into a letter of intent (“LOI”) with Hunan Vanadium Valley New Energy Technology Co., Ltd of China (“HVVNET”) to jointly develop a custom-built Vanadium Redox Flow battery (“VRFB”) exclusively for the Company, based on Golden Share’s Licensed Vanadium Electrolyte (“Licensed VE”).
Under this LOI, HVVNET will experiment with its existing battery systems to match Golden Share’s Licensed VE to seek overall better battery performance, and eventually contract manufacture VRFB for Golden Share. The experiments are expected to be completed by the end of 2018. Both HVVNET and Golden Share will implement the LOI on a best efforts basis.
The Licensed VE, developed by Pacific Northwest National Laboratory (“PNNL”), has advantages over previous generations, including a wider temperature-operating range and higher energy density (please refer to the Company’s press release dated October 18, 2016). Since the successful trial production of the Licensed VE (please refer to the Company’s press release dated February 28, 2017), the Licensed VE samples of Golden Share have been under independent testing for composition, chargeability, dischargeability and stability. The results are encouraging and meet the specifications of the Patent of PNNL.
HVVNET is a professional VRRB manufacturer owning 19 active patents related to VRFB and has been manufacturing its own VRFB systems since 2008. HVVNET has already implement more than 10 pilot projects with it’s VRFB in India, South Korea, Singapore and China. Manufacturing up to 25KW single stack with a leading Battery Management System (BMS), HVVNET is capable to provide megawatt-scale vanadium-based energy storage solutions.
Golden Share Resources Corporation is a junior natural resource company focusing on mineral exploration in the province of Ontario, Canada.
