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Vancouver, British Columbia CANADA, March 26, 2012 /FSC/ – American Vanadium Corp. (AVC – TSX Venture), (“American Vanadium” or the “Company”)announces it has signed a licensing agreement with Battelle for use of a mixed acid electrolyte technology developed at Pacific Northwest National Laboratory (“PNNL”) that increases the energy density and operating temperature range of vanadium redox flow batteries. Additionally, as part of a separate agreement, PNNL will independently evaluate the development of American Vanadium’s electrolyte, to be produced from its Gibellini Project in Nevada.
American Vanadium Corp. (AVC – TSX Venture), (“American Vanadium” or the “Company”)announces it has signed a licensing agreement with Battelle for use of a mixed acid electrolyte technology developed at Pacific Northwest National Laboratory (“PNNL”) that increases the energy density and operating temperature range of vanadium redox flow batteries. Additionally, as part of a separate agreement, PNNL will independently evaluate the development of American Vanadium’s electrolyte, to be produced from its Gibellini Project in Nevada.”Securing rights to this important intellectual property from a world leading research institute such as Battelle is a strong first step in our strategy to move up the value chain in the mass energy storage industry by leveraging the development of our Gibellini Project, America’s only vanadium deposit,” stated Bill Radvak, President & CEO of American Vanadium. “Grid scale energy storage is the foundation of renewable energies like wind and solar and the future of American energy distribution, and technical enhancements to vanadium flow batteries such as this will only increase their value in this rapidly growing market.”
Peter C. Christensen, commercialization manager at Pacific Northwest National Laboratory stated, “We are pleased to sign this agreement with American Vanadium to commercialize technologies funded by the Department of Energy. Grid scale energy storage is a growing area of focus for this Laboratory and the Department of Energy given the positive impact it will make on the grid when widely deployed. This license and American Vanadium’s work are significant steps in the right direction.”
Through the Laboratory’s Technology Assistance Program, researchers may provide additional support for the development of American Vanadium’s electrolyte to ensure its compatibility with both the licensed technology as well as vanadium flow batteries currently being developed and marketed worldwide.
About Battelle
Battelle is the world’s largest independent research and development organization. Headquartered in Columbus, Ohio, Battelle oversees 22,000 employees in more than 130 locations worldwide. Battelle has managed the U.S. Department of Energy’s Pacific Northwest National Laboratory in Richland, Wash., since the laboratory’s inception in 1965.
About American Vanadium Corp.
American Vanadium is currently developing the Gibellini Project, a vanadium deposit located in Nevada, USA. Vanadium is a critical alloying metal used to strengthen steel and is also growing in importance in emerging uses such as mass energy storage and next generation lithium-vanadium batteries. American Vanadium’s Gibellini Project is on track to become North America’s only primary producer of vanadium and is being designed to economically produce vanadium pentoxide for the steel and alloying industries, as well as vanadium electrolyte for the mass storage industry. A positive Feasibility Study and updated National Instrument 43-101 Technical Report on the Gibellini Project were completed by AMEC E&C Services, Inc. in 2011.
