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SCHMID Energy Systems GmbH signs MOU and Partnership Agreement with VanadiumCorp
SCHMID Energy Systems GmbH signs MOU and Partnership Agreement with VanadiumCorp S...
About this update from Vanadiumcorp Resource Inc
[{"type":"text","content":"\n\n\n\nSCHMID Energy Systems GmbH signs MOU and Partnership Agreement with VanadiumCorp\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nSCHMID Energy Systems GmbH signs MOU and Partnership Agreement with VanadiumCorp\nCanada NewsWire\nVANCOUVER, May 25, 2016\n\n\n\n\n\n\nVANCOUVER, May 25, 2016 /CNW/ - VanadiumCorp Resource Inc. (TSX \"VRB\") (the \"Company\") is pleased to announce the execution of a non-binding Memorandum of Understanding (\"MOU\") with SCHMID Energy Systems GmbH (\"SCHMID\") and a partnership agreement with the Vanadium Electrolyte Process Partnership ('VEPP\") to collaborate and explore joint business opportunities in the areas of: \n\n1.) The development of vanadium electrolyte (VE) and other specialty high purity vanadium materials by direct process from VanadiumCorp's mineral claims located in the mining center of Chibougamau, Quebec\n\n2.) Commercialization of efficient and environmentally friendly mineral extraction and processing technologies for vanadium electrolyte\n\n3.) Marketing of VRB technologies to the large-scale grid-energy storage market\n\n4.) Pursue reasonable efforts to enter into a definitive agreement within 12 months from the effective date of signing for the MOU\n\nThe Company's CEO Adriaan Bakker commented, \"We are delighted with the opportunity of working with SCHMID regarding the development of battery electrolyte opportunities for vanadium on our Quebec mineral claims in tandem with process technologies for high purity vanadium extraction.\"\n\nDr. Olaf Conrad, Director Technology of SCHMID Energy Systems GmbH, said, \"The long-term security of supply of VE at predictable cost is of utmost strategic importance for our goal to become the leading global supplier of large-scale grid-energy storage systems. We are excited to work with VanadiumCorp on the development of a primary VE supply by a direct process from vanadium containing mineral.\"\n\nAbout SCHMID Energy Systems GmbH:\n\nSCHMID Energy Systems develops and distributes stationary energy storage solutions based on the powerful Vanadium Redox Flow Technology. Th...