Largo Inc (LGO)

[douginil]

Largo Resources Launches Largo Clean Energy; Creating a Leading, Vertically Integrated and Sustainable Renewable Energy Storage Provider

December 08, 2020

- Launch of Largo Clean Energy creates an industry-leading, vertically integrated vanadium redox flow battery ("VRFB") business to provide clean energy storage systems to the fast-growing, long-duration renewable energy storage market
- Acquisition of 12 patent families previously owned by VionX Energy Corp. ("VionX Energy") with coverage in key jurisdictions to enable Largo Clean Energy to deploy VionX Energy's battery systems under Largo Clean Energy's VCHARGE± branding
- Onboarding of core technical team members previously employed by VionX Energy with decades of VRFB expertise
- Over US$150 million of investment by VionX Energy in commercially proven VRFB technology and operational optimizations
- VCHARGE± System: Combination of patented VRFB electrolyte processing technology, utilization of industry-leading flow battery stack technology and supply of Largo's high purity vanadium required in the manufacturing of vanadium electrolyte will result in unparalleled competitive advantages
- Provides Largo Resources with additional commercial and growth opportunities for its high purity vanadium products at attractive overall economics
- Aligned with Largo Resources' goal of contributing to a lower carbon future through the advancement of renewable energy storage deployments worldwide
- Opportunity to significantly increase additional shareholder value
- Webcast and conference call to discuss Largo Clean Energy and VCHARGE± technology transaction: Wednesday, December 9, 2020 at 10:00 a.m. ET

TORONTO, Dec. 8, 2020 /CNW/ - Largo Resources Ltd. ("Largo" or the "Company") (TSX: LGO) (OTCQX: LGORF) is pleased to announce the launch of Largo Clean Energy Corp. ("Largo Clean Energy"), a newly formed company in Delaware (U.S.) whose aim will be to provide safe, long-duration vanadium redox flow battery systems for the fast-growing global renewable energy storage market. Largo Clean Energy has acquired superior VRFB technology that was previously owned by VionX Energy, a company that had been involved in the renewable energy storage market since 2002.


Read more at:
https://www.largoresources.com/investors/news/press-release-details/2020/Largo-Resources-Launches-Largo-Clean-Energy-Creating-a-Leading-Vertically-Integrated-and-Sustainable-Renewable-Energy-Storage-Provider/default.aspx