The first GWh-level centralized procurement bid for all-vanadium redox flow battery energy storage, and the first national-level large-scale chemical energy storage demonstration project, Dalian redox flow battery energy storage peaking power station is officially connected to the grid for power generation... This year Since the fourth quarter, the commercialization process of vanadium battery energy storage is accelerating.
Vanadium batteries are no longer a concept, but on the eve of large-scale commercialization, and are rapidly moving from the laboratory to the power generation side, the power grid side and the user side. A senior industry insider told a reporter from Shanghai Securities News. Many securities firms believe that vanadium battery energy storage space is vast. As photovoltaics, wind power, etc. will drive the rapid development of the energy storage industry, vanadium batteries are expected to enter a period of rapid development.
Recently, CNNC Huineng opened a bid for its 1GWh all-vanadium redox flow battery energy storage system. This is the first GWh-level centralized procurement bid for a domestic all-vanadium redox flow battery energy storage system. The shortlist of winning bidders includes five companies including Dalian Raycom, Velide, Liquid Flow Energy Storage, State Grid Electric Power Research Institute Wuhan Nari, and Shanxi Guorun Energy Storage. Judging from the bidding prices of five companies, the average unit price of the all-vanadium redox flow battery energy storage system is about 3.1 yuan/Wh, which is more than double the cost of the lithium iron phosphate battery energy storage system that was previously opened for bidding. From a full life cycle perspective, lithium batteries may have a lifespan of less than 8 years in actual energy storage projects, but all-vanadium redox flow batteries have a lifespan of 20 years or more, and their single cycle cost is lower than lithium energy storage batteries.
There are many A-share companies behind the winning bid candidates. Among them, Dalian Raycom, Velide, and Liquid Flow Energy Storage have all cooperated with A-share listed companies, and the major shareholder of Wuhan Nari of State Grid Electric Power Research Institute is State Grid Yingda.
Specifically, Dalian Raycom ranks first on the winning bidder list for this bidding section, with a bid price of 2.65 billion yuan and a unit price of 2.65 yuan/Wh. Public information shows that Dalian Raycom was founded in 2008 by Dalian Raycom Energy Storage Group Co., Ltd. and Dalian Institute of Chemical Physics, Chinese Academy of Sciences. It is the first company in China to engage in all-vanadium redox flow battery industry chain services. One of the enterprises. On October 30, the world’s largest flow battery energy storage power station designed and manufactured by Dalian Raycom was officially connected to the Liaoning power grid.
As a partner of Dalian Raycom, Vanadium and Titanium Co., Ltd. has been increasing its presence in the vanadium battery energy storage business since this year.
A few days ago, Vanadium and Titanium Co., Ltd. announced that the company signed a "Strategic Cooperation Agreement" with the Southwest Research Institute of State Power Investment Corporation and Dalian Rongke. All parties will jointly strengthen the frontier key of the all-vanadium redox flow energy storage industry. Technology application, promote the promotion of all-vanadium redox flow battery energy storage applications and business model innovation, achieve the purpose of innovative development of all-vanadium redox flow battery energy storage technology, and reach strategic cooperation intentions. It is understood that in September last year, the company reached a strategic cooperation with Dalian Rongke, and signed a vanadium energy storage medium commissioned processing agreement in October; in October this year, the company jointly built Sichuan Vanadium Energy Storage with Dalian Rongke, building an annual output 62,000 cubic meters electrolyte project. The company said that the signing of this strategic cooperation agreement will further deepen the cooperative relationship with Dalian Raycom.
Weilide is also one of the candidates for winning the bid. In July this year, CNNC Titanium Dioxide signed a strategic cooperation agreement with CNNC. The two parties will conduct a joint venture to build a full industry chain of all-vanadium redox flow battery energy storage, including but not limited to vanadium metal smelting and vanadium electrolyte manufacturing, and all-vanadium redox flow batteries. Energy storage system equipment manufacturing, new energy and energy storage power station construction, etc.
The demand for vanadium batteries continues to rise, which has also attracted some companies to actively expand across borders.
Recently, fluorine chemical leader Yongtai Technology announced that the company signed a "Partnership Agreement" with China Hengtian Capital Management Co., Ltd. and other qualified investors on November 2 this year, and *** jointly invested in Hangzhou Mubang Equity Investment Partnership (Limited Partnership). Hangzhou Mubang will invest in Hangzhou Dehai Aike Energy Technology Co., Ltd., which is engaged in the research, development and production of all-vanadium redox flow battery materials, stacks and systems.
Yongtai Technology said that this investment is a prudent decision based on the company's strategic development needs and overall business planning, and it mainly invests in the field of all-vanadium redox flow battery energy storage. This will further expand the company's industrial layout opportunities in the professional field of energy storage and is conducive to the company's sustainable development.
Yongtai Energy, a traditional energy company whose main businesses are coal and electricity, has been actively transforming and developing into the energy storage industry since this year. The company stated in its recently disclosed third quarter report of 2022 that the company and Haide Holdings established Detai Energy Storage in September this year, and are carrying out an all-vanadium redox flow battery application demonstration project through Detai Energy Storage.
At the same time, the company is also deploying vanadium resources upstream. Previously, Yongtai Energy and Haide Co., Ltd. both announced that the two companies signed an "Equity Acquisition Agreement" with Xinjiang Huiyou Group and Huihong Mining to acquire the vanadium resources held by Xinjiang Huiyou Group through Detai Energy Storage. The company holds 65% stake in Huihong Mining.