IDTechEx Report Finds Interest in Vanadium Growing Even as Alternatives Hit the Market

The vanadium redox flow battery (“VRFB”) is the first battery of its kind to be commercialized and is gaining popularity in the global energy storage system market. The most recent report on redox flow batteries by IDTechEx show that redox flow batteries will be adopted extensively in the near future, as interest in it grows.

The large adoption of redox flow battery systems doesn’t imply that lithium-ion batteries will cease to exist in the market but that both systems will be addressing different needs. IDTechEx expects lithium-ion batteries to primarily be used for short-duration storage, noting that the range addressed by these batteries may grow as time goes by. On the other hand, the vanadium redox flow battery will be used for long-duration storage as it can store a large amount of energy for long periods of time.

The VRFB system is the most developed and studied technology among the redox flow battery systems. The use of vanadium as electrochemical species in the anolyte and catholyte decreases the issue of electrolyte cross-mixing. However, the price of vanadium is one of the variables that affect this technology’s adoption. To make up for this, producers of vanadium flow batteries have begun to work with vanadium electrolyte companies, offering a leasing scheme for the electrolyte as one of the solutions for the high cost of vanadium.

Companies such as Invinity, in partnership with Bushveld Energy, provide a leasing option to buy the electrolyte separately. This reduces the battery’s cost and makes vanadium redox flow batteries more affordable.

The vanadium electrolyte can also be recycled, which is an added advantage.

In the large-scale stationary market, the iron flow battery (“IRFB”) is in competition with the vanadium redox flow battery. The IRFB is made mainly for large-scale applications and is popular because of the low cost of iron, which decreases capital costs.

The iron flow battery’s electrolyte can also be recycled and provides the possibility to avoid electroactive material cost fluctuation, which affects vanadium.

A recent study compared IRFB, ZBB and VRFB production and found that the iron flow battery was the less polluting technology with regard to its production process.

The zinc/bromine flow battery (“ZBB”) is a hybrid flow battery, which has an electrode made of solid zinc electrode. The battery provides some advantages, including the decreased weight and dimension of the battery, which makes this particular battery well suited for indoor applications.

The entry of innovative players in the energy storage sector such as StorEn Technologies Inc. bodes well for the future of VRFB systems as their cost may drop over time.

NOTE TO INVESTORS: The latest news and updates relating to StorEn Technologies Inc. are available in the company’s newsroom at

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