Largo Inc (LGO)

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Largo Resources enters the clean energy market with Largo Clean Energy
New group company will manufacture vertically integrated vanadium redox flow batteries

Largo Resources launched LCE – Largo Clean Energy, a vertically integrated vanadium redox flow battery (VRFB) business in Toronto, Canada to provide renewable energy storage systems. Vanádio de Maracás, the group's company, which operates in the interior of Bahia, is the only vanadium producer in the Americas and has one of the best products in the world. The energy storage market over the next 10 years is $50 billion and the group estimates that VRFB can account for 18% of this market.

"VRFB is well known for its technical and economic merits, but a key issue that plagues most VRFB deployment projects is the safe and reliable supply of high purity vanadium. We believe that the launch of Largo Clean Energy helps solve this problem by combining industry-leading VRFB technology with Largo's world-class high purity vanadium supply," explains Paulo Misk, CEO of Largo Resources and President of Vanadio de Maracás. "In addition, Largo's cost-effective expansion plans should support the expected future demand for VCHARGE ± Largo Clean Energy deployments," Misk adds.

http://www.conexaomineral.com.br/noticia/1845/largo-resources-entra-no-mercado-de-energia-limpa-com-a-largo-clean-energy.html