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Margaret Lake Progresses Reliable and Affordable U.S. Energy Storage
Company Evaluating New Lubrizol Electrolyte that Would Bring Reliability and Scale to Margar...
About this update from Vault Strategic Mining Corp.
[{"type":"text","content":"Margaret Lake Progresses Reliable and Affordable U.S. Energy StorageCompany Evaluating New Lubrizol Electrolyte that Would Bring Reliability and Scale to Margaret Lake's Vanadium Battery SolutionsVANCOUVER, BC / ACCESSWIRE / May 28, 2020 / Margaret Lake Diamonds Inc. (TSXV:DIA)(FRA:M85)(OTC PINK:DDIAF) is pleased to announce as part of its efforts to accelerate reliable energy storage through vanadium redox flow batteries (VFRB), the company will soon begin testing a new vanadium electrolyte from The Lubrizol Corporation.This electrolyte is essential in holding energy and electricity inside the battery, but it has typically been available only through non-domestic sources, carrying significant transportation costs, tariffs and time-intensive handling processes.Margaret Lake's VFRBs provide value for both utilities and commercial business. For utilities, the batteries bring reliable energy storage, ensuring energy that is generated is captured and not wasted, reducing the strain on the power grid by dispersing energy from renewable sources. For businesses, the battery allows the capture of energy when it is more affordable or available, enabling not only a sustainable power source but cost savings by supplementing traditional energy sources.Vanadium ElectrolyteThe Vanadium electrolyte is core to the VFRB, and the unique physical characteristics of vanadium are the primary reason behind the batteries' high level of consistency and performance, lack of degradation over time, and long life compared with lithium ion batteries. The electrolyte makes up 35% of the cost of the VFRB for four hours of energy storage and 50% for eight hours of energy storage, making U.S.-based supply partners critical in enabling affordable VFRBs for U.S. installations.Battery DesignThe Company's proprietary Vanadium Flow Battery has been developed, tested and is patent-protected. The flow battery design allows for limitation of storage only based on the capacity of the electrolyte tanks versus the fixed capacity of lithium-ion. The battery is non-flammable and non-explosive. There is no degradation as a result of cycling, partial charging, or time with a 100% depth of discharge and projected lifetime of 20 years. Battery efficiency is currently rated at up to 80%. The battery is scalable into the MW-range through simple parallel connection of multiple uni...