Storion Energy Takes Over Vanadium Units for Largo Physical Vanadium Corp.

TORONTO, Dec. 19, 2024 (GLOBE NEWSWIRE) -- Largo Physical Vanadium Corp. ("LPV" or the "Company") (TSX.V: VAND) (OTCQX: VANAF) has announced an important update regarding its vanadium units. Following a recent transaction involving Largo Inc. ("Largo") and Stryten Energy LLC, the newly formed Storion Energy, LLC ("Storion") will take over as the safekeeper for LPV's vanadium units that were previously managed by Largo Clean Energy Corp. ("LCE"). This change is part of LPV's plan to strengthen its role in the growing long-duration energy storage ("LDES") market by providing leased vanadium for cost-effective vanadium flow batteries.

Storion Energy is the result of a partnership between LCE and Stryten, aimed at creating a complete and efficient domestic supply chain for vanadium flow battery solutions. By leveraging LPV’s owned vanadium, along with Largo’s high-quality materials and Stryten’s expertise in battery manufacturing, Storion is set to streamline access to vanadium electrolyte. This collaboration aims to lower costs and meet the urgent energy storage demands of companies operating in North America.

"LPV is eager to work with Storion Energy as it assumes the role of safekeeper for our vanadium units," said Francesco D’Alessio, CEO of LPV. "We expect Storion to generate revenue for LPV through the leasing of vanadium, which will support the uptake of vanadium flow battery solutions in the U.S. This partnership will also help LPV advance its mission of promoting vanadium-based LDES solutions in various applications. The innovative leasing model developed by LPV will not only reduce initial costs for battery users but also enhance renewable energy integration and improve grid stability through the deployment of vanadium flow batteries in the future."

About Storion Energy

Storion Energy is focused on enhancing energy resilience and security in the U.S. by providing accessible and competitively priced locally sourced electrolyte for vanadium redox flow batteries (VRFBs). As a joint venture between Stryten Energy and Largo Clean Energy Corp., Storion aims to boost domestic electrolyte production and establish a fully integrated supply chain for utility-scale VRFB energy storage systems. This technology provides reliable long-duration energy storage for over four hours, supporting grid stability and the increased adoption of renewable energy across business and consumer sectors. Storion will operate facilities in Wilmington, Massachusetts and Alpharetta, Georgia.

About Stryten Energy

Stryten Energy is dedicated to addressing pressing energy issues with a wide range of storage solutions across various sectors, including power generation, transportation, and military applications. Based in Alpharetta, Georgia, Stryten partners with globally recognized companies to meet the rising demand for dependable energy storage solutions. Their technologies encompass advanced lead, lithium, and vanadium redox flow batteries, along with intelligent energy management systems to optimize performance across different platforms. With over a century of expertise, Stryten is committed to delivering innovative energy solutions that meet contemporary challenges.

About Largo Inc.

Largo Inc. is a leading global supplier of high-quality vanadium and ilmenite products from its renowned Maracás Menchen Mine in Brazil. As one of the top primary vanadium producers, Largo manufactures vital materials for industries, including steel, defense, chemicals, and energy storage, focusing on operational excellence and sustainability.

About Largo Physical Vanadium Corp.

Largo Physical Vanadium Corp. (LPV) provides a secure and convenient way for investors to gain direct exposure to physical vanadium, crucial for promoting sustainability in various industries. LPV's strategy includes acquiring vanadium while supplying it to users of vanadium flow batteries, essential for integrating renewable energy in long-duration applications. With its environmentally friendly and recyclable attributes, vanadium is a key player in achieving a greener economy.

For more information about LPV, please contact:
Francesco D’Alessio
Chief Executive Officer
+1.571.491.7827
[email protected]

Note: This article contains forward-looking information that reflects management’s expectations and is subject to risks that could cause actual results to differ materially.

Storion, Energy, Vanadium