Energy storage is the single biggest challenge and opportunity for widespread adoption of renewable energy.
U3O8 Corp. would produce a basket of “battery commodities” for lithium-ion and vanadium redox flow batteries.
Goldman Sachs has stated that “lithium is the new gasoline”, but one could argue that a truer statement is that electricity is the next gasoline, and our challenge is to find efficient and cost-effective ways of storing electricity so that it’s available on demand. Battery prices have been declining steadily, but need to fall further before electricity storage can become competitive and start to displace fossil fuels. As a company with “battery commodities” we have an opportunity to contribute to the deeper penetration of batteries into the energy market.
Lithium-ion batteries (LIB) have been so widely adopted because they store a relatively large amount of power for their size and weight (they have a high energy density); they have a high power output, but for a short duration. LIBs are complimented by longer-duration, lower power output batteries like the vanadium redox flow battery (VRFB) that are capable of storing energy on a large scale. LIBs and VRFBs can be visualized as the fast and strong versus the slow and steady. Many other types of battery are under investigation – this is a field that is evolving at a very quick pace.