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NEWS
Zunyi has the production and research and development capabilities of the entire vanadium flow battery energy storage industry chain
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Release time:
2021-11-12 11:01
Good news for Guizhou's battery industry. On September 19th, Guizhou Zhixi Technology opened in Honghuagang District, Zunyi City, marking a new expansion of the Guizhou battery energy storage industry and the official launch of the vanadium flow battery energy storage project in Guizhou.
Good news for Guizhou's battery industry. On September 19th, Guizhou Zhixi Technology opened in Honghuagang District, Zunyi City, marking a new expansion of the Guizhou battery energy storage industry and the official launch of the vanadium flow battery energy storage project in Guizhou.
Guizhou Zhixi Technology settled in Yingtian Gonggu Industrial Park, Honghuagang District, Zunyi in November 2022. It is fully invested by Guangzhou Zhixi Technology Company and has independent innovative technologies. It has formed 15 international and domestic patents and has the production and research and development capabilities of the entire vanadium flow battery energy storage industry chain. The first phase investment is 310 million yuan, mainly to build a production base for fuel cells, perfluorinated ion membranes, and vanadium electrolytes. Among them, the performance of the perfluorinated ion membrane products produced by the company has reached the level of foreign imports and is gradually being replaced domestically; Vanadium electrolyte has a wide range of temperature to temperature specific energy, and is among the top tier domestically and internationally.
"Vanadium flow battery energy storage is a new energy storage technology with enormous potential, characterized by long-term energy storage, safety, a lifespan of up to 20 years, and unlimited expansion." Jiang Xinxi, Chairman of Guizhou Zhixi Technology, stated that he will adhere to the corporate philosophy of "innovation, quality, and service" and make every effort to build an internationally competitive vanadium flow battery energy storage industry base, contributing to the construction of a colorful Guizhou and beautiful Zunyi.
New energy storage plays a significant role in promoting carbon peak and carbon neutrality in the energy sector. According to the policy goals set in the Guiding Opinions on Accelerating the Development of New Energy Storage, by 2025, the transformation of new energy storage from the initial stage of commercialization to large-scale development will be achieved, and the installed capacity of new energy storage technology will reach over 30 million kilowatts.
Zhang Qing, Vice President of Guizhou Zhixi Technology, believes that as a potential stock for new energy storage, vanadium flow battery energy storage has moved from the laboratory to the power generation side, grid side, and user side. The next step in the vanadium flow battery energy storage industry is not from 0 to 1, but a fission period from 1 to 10.
Xintian Green Energy Co., Ltd., the first dual listed company in China to operate A+H wind power and natural gas, covers the fields of wind energy, solar energy, and natural gas. This year, it has signed two cooperation agreements with Guizhou Zhixi Technology for vanadium flow battery energy storage projects. Li Zhao, the manager of Huadong District, said, "The cooperation with Guizhou Zhixi Technology is an important expansion of our company in the field of all vanadium liquid flow energy storage." The two sides will work together to further enrich our business areas from energy storage, energy, market, and expand market channels step by step.
On that day, Guizhou Zhixi Technology Co., Ltd. also signed a contract with Guizhou Green Industry Technology Research Institute to jointly establish Guizhou Liquid Flow Energy Storage Research Institute, fully opening a new situation of joint development layout and market development coordination between the government and enterprises.
"At present, Guizhou Zhixi Technology has signed orders worth billions of yuan with Jilin and other places, with good market prospects. The next step is to invest 3 billion yuan to plan 150 acres of land in Zunyi to expand the production capacity of vanadium flow batteries." said Jiang Xinxi, Chairman of Guizhou Zhixi Technology.
The vanadium battery stack produced by Guizhou Zhixi Technology Company.
Public information shows that multiple securities institutions are optimistic about the prospects of the vanadium flow battery market. According to a research report by CITIC Securities, the market space for all vanadium flow batteries is vast, and it is expected that the market size will exceed 10 billion yuan in 2027. With the increase in the proportion of new energy generation, the importance of long-term energy storage will become increasingly prominent, and we are optimistic about the all vanadium flow battery technology route. According to a research report by Guoxin Securities, as of the end of 2022, the cumulative installed capacity of global flow batteries (mainly vanadium flow batteries) was 274.2MW, accounting for 0.6% of the world's new energy storage. It is expected that the global new installed capacity of liquid flow batteries will reach 1.7GWh in 2023, 19.6GWh in 2026, and a compound annual growth rate of 125% from 2023 to 2026. Zhejiang Securities predicts that by 2025, China's vanadium flow battery energy storage will add 14.2 GWh, with an installed power of 3.5 GW and a penetration rate of 20%. The corresponding market size is 29.7 billion yuan, and the compound annual growth rate from 2021 to 2025 is 92%.
It is also understood that sufficient vanadium resources have given China confidence in the future of vanadium batteries and there is no worry about resource bottlenecks. The data shows that the total metal reserves of vanadium mines that have been proven worldwide are about 22 million tons, of which China's total metal reserves of vanadium mines are about 9.5 million tons, accounting for approximately 43% of the world's proven reserves, ranking first.
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