Ann: Managing Director to present at the NT Resources Week, page-6

Thanks Noodly, this line confirms what Chris Reed from Neometals said the other day about 1MWh requiring 5.5 Tonnes of Vanadium
In fact this is a better number again as it gets 1MWh below 5 Tonnes.
14600/3000(MWh) is 4.86 Tonnes per MWh... now here I go again....



So 2,205lbs per Tonne.
TNG's cost basis for Vanadium is at $2.50lb.
1MWh of Vanadium is 2205lbs x $2.50 x 4.86T = $26,790 - to get kWh cost / 1,000 OR.....
US $26.79 Cost per kWh of vanadium.

There are going to be many studies with different ratios of the cost structure of Vanadium, but a brief search is showing the figure up at the 30-35% mark - https://www.lesys.jp/english/initiatives/characteristics.php


If the ratio of cost were constant that the Electrolyte was 35% of the assembled VRFB, cost would be
$26.79 - 35% - Electrolyte
$19.14 - 25% - Assembly/construction costs
$13.78 - 18% - PCS (I think this is the control system ie Plant Control System)
$9.19 - 12% - Piping & Tank
$7.65 - 10% - Cell Stack
US $76.54 kWh cost

The cost target for Lithium Ion batteries is $100 kWh.

Noting the VRFB advances in Electrolyte requirement is a number I haven't seen & I probably pay more attention than most. In fact 9.8T/kWh was the only figure I was able to find only about 2 weeks ago.

In the space of the week Neometals MD has stated 5.5T & now it has been reported that it is even better than this at 4.86T/MWh

Those other cost components above - Cell stack, piping & tank I'd suggest R&D will have reduced those.
PCS - this is a no brainer - better software, better/cheaper sensors for control will bring this cost down
Assembly construction costs - this is economies of scale.

I think US$76.54 kWh may turn out to be too high an estimate.