What is Vanadium?, page-4

Schmid before the start of construction of a large battery factory in Saudi Arabia
The medium-sized company from the Black Forest works together with investors from Saudi Arabia. The factory for vanadium redox flow batteries is scheduled to start operations in 2021. A production capacity of three gigawatt hours per year is planned .11. MAY 2020 RALPH DIERMANN

The Schmid Group from Freudenstadt intends to start building a large factory for vanadium redox flow batteries in Saudi Arabia within the next few weeks. For this purpose the medium-sized company had signed a joint venture contract with the Saudi company Nusaned Investment last year. Now all the necessary permits for the construction have been obtained.According to Schmid, the plant will have a capacity of three gigawatt-hours per year and will go into operation in 2021. The joint venture also intends to operate research and development facilities in Germany and Saudi Arabia. By the summer, The Riwaq Industrial Development Company, also from Saudi Arabia, is to join the joint venture as a further investor and shareholder.According to the Schmid Group, the vanadium redox flow batteries will be used for the grid integration of renewable energy power plants as well as for mobile phone masts, mining sites and off-grid supply areas. The Kingdom of Saudi Arabia has set itself the goal of installing a total of 57.5 gigawatts of renewable energy capacity by 2030. The joint venture sees the construction of the plant as a direct contribution to the country's energy strategy.The factory is to be built in Dammam in the east of the country. According to the project partners, the targeted production capacity will make it one of the largest redox flow factories in the world. The batteries will be marketed under the name "Everflow".The joint venture partner Nusaned Investment is a subsidiary of Sabic - an industrial group which is majority-owned by the oil company Saudi Aramco, 98.5 percent of which in turn belongs to the Saudi state. Riwaq develops and invests in industrial projects in the fields of renewable energy, recycling, chemicals, metal processing and mining.In October 2018, the Schmid Group had signed letters of intent with Nusaned and Riwaq for joint ventures with an estimated total volume of 430 million US dollars at an investor forum in the Saudi capital Riyadh. Shortly before, the murder of the journalist Jamal Kashoggi in the Saudi Arabian embassy in Ankara had become known. As a result, several politicians and business representatives had cancelled their participation in the investor forum, including Siemens CEO Jo Kaeser and IMF Chairwoman Christine Lagarde.

(translated with deepl)

https://www.pv-magazine.de/2020/05/11/schmid-vor-dem-baustart-einer-grossen-batteriefabrik-in-saudi-arabien/