VANADIUM: Ultra Power chooses Canadian technology for world’s first processing plant

VANCOUVER – VanadiumCorp and Electrochem Technologies and Materials have signed a patent option agreement allowing Ultra Pure Systems to purchase an exclusive licence to their VanadiumCorp-Electrochem processing technology (VEPT). The new technology will be used in the world’s first dedicated vanadium processing facility in Australia. [caption id="attachment_1003726064" align="alignleft" width="249"] Canadian lithium technology is headed to Australia. (Image: VanadiumCorp)[/caption] Ultra plans to integrate low cost battery grade vanadium electrolyte into vanadium redox batteries from virtually any source. VEPT can be applied at a fraction of the time and capital requirements of conventional vanadium extraction processes. The technology also reduces the related emissions. Operating costs are offset by the production of by-products. Ultra has been granted a six-month option to acquire the licence for Australia in return for a payment of US$500,000. The licensing terms include minimum annual payments, financing fees, and royalty payments for all vanadium and by-products upon production. For a more thorough description of the VEPT, visit www.VanadiumCorp.com.