Bushveld Minerals has issued an update on its 84% owned subsidiary, Bushveld Energy. BE was launched in January 2016 to focus on developing and promoting the role of vanadium in the growing global energy storage market through application in Vanadium Redox Flow Batteries. Updates in respect of the other operational divisions of the Company will be presented in coming weeks. Highlights - Continued progress in respect of the cooperation agreement with the Industrial Development Corporation * Tenders for studies have closed, with the market study and the techno-economic study awards being concluded; * Ongoing identification of potential sites for VRFB installations in South Africa in order to demonstrate the technology and its commercial application. - Progressing market opportunities of VRFBs outside of South Africa through an MoU recently signed with UniEnergy Technologies, a United States of America based manufacturer of turn-key, large and medium-scale VRFBs for utility, micro-grid, commercial and industrial, and other applications.
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