11/01/2019 19:59:10

VRB Energy Completes Commissioning of Phase 1 of the Hubei Zaoyang 10MW/40MWh Utility-Scale Solar and Storage Integration Demonstration Project

BEIJING and VANCOUVER, British Columbia, Jan. 11, 2019 (GLOBE NEWSWIRE) -- Robert Friedland, Chairman of VRB Energy, and Dr. Mianyan Huang, Chief Technology Officer and President of China Operations, are pleased to announce the company has completed the commissioning of Phase 1 of the Hubei Zaoyang 10-megawatt (MW)/40-megawatt-hour (MWh) Utility-Scale Solar and Storage Integration Demonstration Project, with a 3 MW 12 MWh vanadium-redox-battery energy-storage-system (VRB-ESS®) commencing operation.

“I am delighted to see the commissioning and operation of the largest capacity vanadium redox battery built in China to date. This project represents a key step in applying China's rich vanadium resources to renewable energy development that will transform the energy industry and help alleviate environmental problems,” said Mr. Friedland.

“Hubei Province has abundant vanadium mineral resources. This project combines locally sourced vanadium with VRB Energy's advanced energy storage technology to serve as a brand new partnership model for fostering local economic development, energy transformation, comprehensive utilization of resources and sustainable development,” said Mr. Xie Guoguang, Chairman of Hubei Pingfan Ruifeng New Energy Technology Ltd. – the project’s investor.

Upon completion of the commissioning and the commencement of operations, Chinese government official Mr. Li Lecheng, member of the Standing Committee of Hubei Provincial Party Committee and Secretary of the Xiangyang Municipal Committee, led government leaders from Xiangyang City and Zaoyang City in inspecting the project.

Secretary Li affirmed the significance of the project and the achievements in its construction. He encouraged the parties involved in the project to continue efforts to promote project construction methods and learnings, accelerate construction of renewable energy generation and storage, and drive development and localization of the energy storage industry in order to advance economic development and environmental protection.

Building on the valuable experience gained from construction of this project, the project investor and all parties involved in the construction are working closely on pursuing multiple 100MW-class vanadium redox battery storage projects in Hubei, China.  These projects would help to fulfill a key initiative under China’s 2017 energy storage policy published by the National Development and Reform Commission – the macroeconomic management agency under the Chinese State Council that has broad administrative and planning control over the Chinese economy – to deploy multiple 100 MW-class vanadium flow batteries as part of broader efforts to increase renewable energy use, lower emissions and improve efficiency in the electricity sector.

About VRB Energy

VRB Energy, formerly known as Pu Neng, is a fast-growing, privately-held clean technology innovator. The company has developed the most reliable, longest-lasting vanadium flow battery in the world, with more than 30 megawatt-hours installed and in construction worldwide, and more than 800,000 hours of demonstrated performance. The combination of VRB Energy’s proprietary low-cost ion-exchange membrane, long-life electrolyte formulation and innovative flow cell design sets it apart from other providers.

VRB Energy’s vanadium redox battery (VRB®) systems store energy in liquid electrolyte in a patented process based on the reduction and oxidation of ionic forms of the element vanadium. This is a nearly infinitely repeatable process that is safe, reliable, and non-toxic. Components can be nearly 100% recycled at end of-life, dramatically improving lifecycle economics and environmental benefits compared to lead-acid, lithium-ion and other battery systems.

VRB Energy is majority-owned by High Power Exploration (HPX), a metals-focused exploration company that also invests in minerals-dependent, high-growth emerging technologies. HPX is a subsidiary of I-Pulse, a global leader in developing innovative commercial applications for pulsed power technologies that convert small amounts of electrical energy into limitless power to address a broad and growing suite of applications across multiple industrial markets.  I-Pulse is a private company with offices in San Francisco, London, Toulouse, Tokyo and Vancouver.

For more information on VRB Energy, HPX and I-Pulse, please visit our websites at www.vrbenergy.com, www.hpxploration.com, and www.ipulse-group.com.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5787287e-e06d-4fca-994d-aef22c2d11fa

Information contacts

Jim Stover

jim.stover@vrbenergy.com

+1 604 648 3900

Charles Ge 葛启明

charlesge@vrbenergy.com

+86 186 7010 7777

David Baker

davidbaker@ivancorp.net

+1 604 648 3900

Kimberly Lim

kimberly.lim@ipulse-group.com

+1 604 689 8765

VRB Energy Logo.jpg

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