OUR TECHNOLOGY
AVESS Energy is the 50% majority shareholder of South Korean VRFB R&D Company KORID Energy Co. Ltd.
KORID has delivered a highly efficient 25kW VRFB stack, which has the potential to outperform the stacks of Tier 1 manufacturers.
The 25kW stack has been meticulously engineered to be lighter and more compact while eliminating leakage and improving assembly efficiency.
Market Advantages
Lifespan
- VRFBs have significantly longer lifespans compared to Lithium-ion (Li-ion) energy storage systems (ESS).
- VRFBs are capable of cycling more than 20,000 times over a 20+ year lifespan – with minimal performance degradation.
- L-ion batteries can expect to see a performance degradation of 50% between 500 and 5,000 cycles.
- VRFBs display superior capacity retention and reduced performance degradation – over time – compared to Li-ion ESS.
- For example, VRFBs can be charged or discharged for extended periods with little to no effect on future performance.
Scalability
- VRFBs are highly scalable.
- VRFBs can be scaled up by simply expanding the size of the electrolyte tanks or by stacking additional modules next to each other.
Sustainability
- VRFBs are 100% recyclable.
- Vanadium electrolytes in a VRFB undergo minimal performance degradation over their energy storage lifecycle.
- At end-of-life, vanadium electrolytes can either be re-deployed into new VRFBs or be extracted and re-purposed.
Safety
- Vanadium electrolytes are an acidic, aqueous (water-based) solution containing no organic solvents. There is no risk of fire or explosion.
- Vanadium content is highly diluted, meaning the electrolytes are essentially non-toxic.
Abundance
- Vanadium comprises 0.02% of the Earth’s crust – more than 10 times that of lithium (0.002%).
- With the world’s 3rd biggest vanadium reserve – behind China and Russia – Australia is poised to become a Tier 1 global producer once vanadium goes into production.
- Lithium supply is projected to fall by 2030 with demand expected to outstrip supply – due to the growth in EV uptake.
Our Market
- Mining – Development and production
- Power and utilities – Peak shaving
- Renewable energy – Firming and capture
- Commercial and industrial (C&I)
- Independent power producers (IPPs)
- Off-grid microgrids – Bases and islands, remote areas
- Residential – Community batteries