The global market for vanadium redox batteries is now estimated at $234m and is projected to reach $4.8bn by 2027, which translates into a CAGR of 54% over the period 2020-27.
The European Marine Energy Centre (EMEC), Orkney, Scotland will deploy an Invinity Energy Systems (AIM:IES) 1.8 MWh flow battery at EMEC’s tidal energy test site on the island of Eday.