V an S par 斯帕顿钒业 VANADIUM FLOW BATTERIES Large Scale Energy Storage VanSpar Mining Inc. a subsidiary of
FORWARD LOOKING STATEMENTS This presentation does not constitute or form part of, and should not be construed as, an offer to sell or issue or the solicitation of an offer to buy or acquire securities of the Company or any of its subsidiaries nor should it or any part of it, not the fact of its distribution, form the basis of, or relied on in connection with, any contractor commitment whatsoever. This presentation has been prepared by, and is the sole responsibility of, the Company. This document, any presentation made in conjunction here with and any accompanying materials are for information only and are not a prospectus, offering circular or admission document. This presentation does not form a part of, and should not be construed as, an offer, invitation or solicitation to subscribe for or purchase, or dispose of any of the securities of the companies mentioned in this presentation. These materials do not constitute an offer of securities for the sale in Canada, the United States or else where or an invitation or an offer to the public or form of offer or commitment whatsoever. The information contained in this presentation has not been independently verified. No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy or completeness of the information or the opinions contained herein. The Company and its advisors are under no obligation to update or keep current the information contained in this presentation. To the extent allowed by law, none of the Company or its affiliates, advisors or representatives accept any liability whatsoever(in negligence or otherwise)for any loss how so ever arising from any use of this presentation or its contents or otherwise arising in connection with the presentation. Certain statements in this presentation constitute forward-looking statements, including statements regarding the Company’s financial position, business strategy, plans and objectives of management for future operations. These statements, which contain the works "believe", "expect", "anticipate", "intends", "estimate", "forecast", "project", "will", "may", "should", "could", and similar expressions, reflect the beliefs and expectations of the management board of directors of the Company and are subject to risks and uncertainties that may cause actual results to differ materially. These risks and uncertainties include, among other factors, the achievement of the anticipated levels of profitability, growth, cost and synergy of the Company’s recent acquisitions, the timely development and acceptance of new products, the impact of competitive pricing, the ability to obtain necessary regulatory approvals, and the impact of general business and global economic conditions. These and other factors could adversely affect the outcome and financial effects of the plans and events described herein. Neither the Company, nor any of its respective agents, employees or advisors intend or have any duty or obligation to supplement, amend, update or revise any of the forward-looking statements contained in this presentation. The information and opinions contained in this document are provided as at the date of this presentation and are subject to change without notice. This document has not been approved by any competent regulatory or supervisory authority.
V an S par 斯帕顿钒业 VANADIUM Barrack Obama championed “multi -megawatt vanadium redox fuel cells” for mass -storage batteries as “one of the coolest things I’ve ever said out loud” USES: Steel Industry & Alloys 85% other(includes batteries) 15% VanSpar is addressing Major Growth Opportunities in small and large storage batteries for solar/wind energy as well as electric and hybrid vehicles Vanadium Redox Batteries(VRB) are also widely known as “Flow Batteries”
“BATTERIES CORE TO A FOURTH INDUSTRIAL REVOLUTION” A presentation by World Economic Forum founder Klaus Schwab Davos, Switzerland - February 1, 2016 “…energy storage, and the batteries that will make this possible on a mass scale, are key to a fourth industrial revolution” March 2013 Ref: http://benchmarkminerals.com/Blog/batteries-core- to-a-fourth-industrial-revolution-world-economic-forum/
GOLDMAN SACHS REPORT – October 2015 The Great Battery Race Framing the next frontier in clean technology – Electrical Energy Storage Battery technology is at the center of this potentially seismic shift in how the grid operates March 2013
THE ENERGY STORAGE OPPORTUNITY In the USA alone, grid connected energy storage is a US$150 billion opportunity Goldman Sachs recently estimated that flow batteries are 50% lower in cost than Lithium on a Level Cost of Storage (LCOS) basis Flow batteries expected to be almost 20% of global storage markets; growing at a >35% Growth Rate through 2025 (source: Navigant Research)
THE ENERGY STORAGE OPPORTUNITY continued Flow batteries attracted $120 million in VC investment in 2015, the most in energy storage (source: Mercom Capital) No company has more flow battery experience than VRB, with $70 million in flow battery development and deployment invested over the past 10 years; 20 MWh of systems deployed at over 50 sites since 2007 VRB products have over 800,000 hours of factory reliability testing, and a robust IP portfolio of over 60 patents and trademarks
ADVANCED BATTERY ENERGY STORAGE(ABES) AND REVENUE BY REGION – WORLD MARKETS: March 2013
TOTAL ADDRESSABLE MARKET (TAM) FOR ELECTRICAL ENERGY STORAGE (EES) APPLICATION March 2013
INSTALLED REVENUE, ENERGY STORAGE FOR WIND AND SOLAR INTEGRATION WORLD MARKETS: 2015 - 2024 (VRB) Revenue March 2013
Advantages of VRB Vanadium Redox Batteries vs. Lithium Batteries VANADIUM LITHIUM Redox Number of Cycles 100,000+ (20-30 yrs) 3000-10,000 (5-7 yrs) √ Low Self-discharge X √ Low Environmental Footprint X √ Highly Expandable X √ Generates Low Levels of Heat X √ Charges and Discharges Modules Simultaneously X √ Can Release Energy Instantaneously X √ Suitable for Connection to Power Grid X(Without Inverters) √ Small Footprint X CAN be Completely Recycled yes no Source: Wanted: Vanadium Supply The Next Rare Earth Scenario By Nick Hodge. Energy and Capital.com December 2011
LEVELIZED COST OF STORAGE (LCOS) Vanadium Redox Batteries(Flow) March 2013
V 2 O 5 VANADIUM PENTOXIDE
Electrolyte Electrolyte tank tank Electrode Ion Collective Membrane Regenerative Fuel Cell Electrolyte “Stack” Electrolyte V+2,V+3 sulphate V+4.V+5 sulphate Pump Pump Power Source / Load Concept of a Redox Flow Battery System
SAFETY VRB’s systems have been reviewed and validated by TUV, a leading third-party certification body March 2013
VRB – PROVEN TRACK RECORD No company has more flow battery experience than VRB , with $70 million in flow battery development and deployment invested Over the past 10 years, 20 MWh of systems deployed at over 50 sites VRB products have over 800,000 hours of factory reliability testing Robust IP portfolio of over 60 patents and trademarks Utah, USA March 2013 INSTALLED SITES
VRB – PROVEN TRACK RECORD (continued) The Company has just commissioned the largest flow battery for China State Grid, the world’s largest utility; the 2MW - 8MWh system passed intensive grid smoothing and balancing tests at the Zhangbei 600MW wind-solar-storage project outside Beijing. US$4.4M ongoing revenue expected. It also completed validation testing of its Gen2 VRB product in 2015; Gen2 uses the same core stack technology but represents a 30% cost March 2013 reduction and 10% improvement in performance vs Gen1
8 MEGAWATT HOUR BATTERY POWER CONTROL STACK SYSTEMS MODULES March 2013
8 MEGAWATT HOUR BATTERY TANK – STACK CONNECTIONS March 2013
ELECTROLYTE TANKS March 2013
VRB ENERGY STORAGE SYSTEM Small Scale 1 cell stack 5-10 kW x 4 hours system rating 5-10 kW x 8 hours system rating Applications: Telecom base stations Remote area power supplies . March 2013
VRB ENERGY STORAGE SYSTEM Large Scale 12 cell stacks 250kW or 350kW module rating Modules assembled into MW blocks Systems up to 10MW and 80MWh Applications: Wind and Solar Farms Peak Shaving Microgrids March 2013
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