– Sparton Resources Inc. (TSXV: SRI) (“Sparton” or the “Company“) reported today on recent media articles related to large scale energy storage systems (“ESS”) and energy storage technology.
The Company currently owns, through its subsidiary VanSpar Mining Inc., a 9.8% equity interest in VRB Energy Inc. (“VRB”) a leading manufacturer of vanadium flow batteries for large scale energy storage related to clean renewable electricity generation. (See Sparton News Release dated March 16, 2021).
As reported on June 25, 2021, by the Chinese Media Group “Caixing” and UK based “Energy Storage Publishing”, “China is on the verge of banning the use of second-life lithium-ion batteries in large-scale energy storage systems (ESS) amid a spate of fires this year”.
In January, an explosion at a China recycling plant owned by lithium-ion battery giant Contemporary Amperex Technology (CATL) killed one person and injured 19 more.
In April, two firefighters died when they were putting out a fire in an energy storage power station in Fengtai District of Beijing, according to the China Daily news outlet.
The halt is expected to continue until a “breakthrough in battery consistency management technology and a sound power battery performance testing and evaluation system” is developed” according to Caixing,
The ceasing of lithium secondary battery use follows the National Energy Administration issuance of a draft report entitled ‘Regulations for the Management of New Energy Storage Projects’ on June 22, 2021.
Vanadium flow batteries produced by VRB which are an alternative ESS technology to lithium, are not explosive or a fire hazard, and are fully recyclable.