At present, the liquid flow battery will enter a period of rapid development. Players from all walks of life will continue to flock to the circuit of the liquid flow battery industry. A hundred schools of thought contend for the technical routes of all vanadium, zinc bromide, iron chromium, zinc iron and other liquid flow batteries, among which the technology of all vanadium liquid flow battery products is the fastest maturing and the earliest commercialized.

All vanadium liquid flow battery, referred to as "vanadium battery". Compared with lithium battery energy storage, it has the advantages of high safety, strong capacity expansion, long cycle life, and can meet the long-term energy storage requirements. It has become the "new favorite" of the energy storage track for a while.

Recently, the first national large-scale chemical energy storage demonstration project, the world's largest all vanadium liquid flow battery energy storage power station, and Dalian liquid flow battery energy storage peak shaving power station (200MW/800MWh) Phase I project (100MW/400MWh) have been connected to Liaoning power grid, and are expected to be put into operation in the middle of October. Since 2021, several large all vanadium flow battery projects of 100 MWh have been launched in China. According to incomplete statistics, in the first half of 2022, the scale of vanadium batteries in the independent energy storage power station under construction has reached 302MW/1104MWh.

On September 20, the Three Gorges Energy Xinjiang 250MW/1GWh all vanadium liquid flow energy storage project was started. It is reported that this is the first GWh grade all vanadium liquid flow battery project to be started in China and will be connected to the grid by the end of 2023.

In the same month, CNNC Huineng released the announcement on centralized procurement of energy storage system for new energy projects from 2022 to 2023, with a total energy storage capacity of 5.5GWh. In the centralized procurement released by CNNC Huineng, the first bid section is an all vanadium flow battery energy storage system, with a procurement scale of 1GWh. This is also the first time to purchase GWh grade vanadium flow battery project in China.

According to the analysis of the High Industry Research Institute (GGII), liquid flow battery will be the most potential electrochemical energy storage technology after lithium ion battery and sodium ion battery, with strong growth certainty.

GGII believes that at this stage, the all vanadium liquid flow system is the most mature liquid flow technology route for industrialization, and is also the market that is expected to be the first to break out.

At present, the important vanadium resources in the vanadium battery industry chain are controlled in the domestic upstream vanadium resources are highly concentrated in a few suppliers, such as Vanadium Titanium Co., Ltd. (formerly Pangang Vanadium Titanium Co., Ltd.), Hegang Co., Ltd., and these upstream material enterprises have entered the vanadium battery project one after another.

On September 8, the abbreviation of Pangang Vanadium Titanium Securities was officially changed to "Vanadium Titanium Shares". As for the reason for the name change, the company said that its current main businesses include vanadium, titanium and electricity, among which vanadium and titanium are the company's strategic priority development businesses. In order to accurately reflect the company's main business and improve the capital market's perception of the company's industry positioning, the company applied to Shenzhen Stock Exchange to change the securities abbreviation to "Vanadium Titanium Shares". Vanadium Titanium Co., Ltd. has the largest vanadium production capacity in the world, which is converted into 40000 tons of vanadium pentoxide per year. It has significant advantages in raw materials. The day before the name change, the company put forward a fixed increase plan of 2.28 billion yuan. The projects to be funded include upgrading and reconstruction of vanadium pentoxide, industrial preparation and application research and development of vanadium battery electrolyte, and other projects involving the upstream and downstream of the vanadium battery industry chain.

Vanadium Titanium Corporation said that through tackling the key problems of all vanadium liquid flow battery energy storage technology, the raised investment project integrates low-cost preparation process and series of key application technologies from vanadium slag leaching solution high-purity vanadium electrolyte electrolyte, forming a complete set of technologies and equipment for the whole industry chain.

In addition to upstream enterprises, since the second half of this year, titanium dioxide enterprises with strong correlation have also started to layout vanadium battery projects.

On July 13, Longbai Group announced that its wholly-owned subsidiary plans to invest 2.5 billion yuan to build a new vanadium pentoxide project with an annual output of 30000 tons, which is expected to be completed in 2026.

On the same day, CNNC Titanium announced that it would establish a vanadium electrolyte manufacturing joint venture with Weilide, with a planned total capacity of 1 million cubic meters, and the first phase construction of 300000 cubic meters. Previously, the two sides had signed a strategic cooperation agreement to jointly build a vanadium battery energy storage industry chain in Gansu Province.

On September 10, Longbai Group disclosed on the investor interaction platform that by the end of 2021, the company had 133 million tons of vanadium titanium magnetite resources in Panzhihua, including 323600 tons of vanadium metal oxide resources. The vanadium resource in the waste acid produced by the company's chlorination process titanium dioxide is 3000 tons per year. At present, 800 tons/year vanadium pentoxide production line has been built. At the same time, the company's 30000 ton/year iron concentrate vanadium extraction project is being put on record, and will actively promote the industrialization of vanadium extraction from iron concentrate in the future.

As an upstream enterprise of titanium dioxide industry, Anning Co., Ltd., the domestic leader of titanium concentrate, also said on the investor interaction platform that the company has been committed to the comprehensive utilization of vanadium titanium magnetite, and has certain technical reserves in vanadium clean extraction and vanadium electrolyte preparation.

In order to speed up the industrial development, Dalian Rongke, Puneng Century and other vanadium battery enterprises signed strategic cooperation agreements with Panzhihua Iron and Steel Vanadium Titanium Co., Ltd. and Hebei Iron and Steel Co., Ltd. to reach a cooperation consensus on the production of vanadium electrolyte and the promotion of liquid flow battery, so as to lock in the upstream high-quality and scarce vanadium ore resources to supply energy in advance. Vanadium battery energy storage gradually presents a phenomenon of industrial prosperity.

On September 30, China Resources Vigorously Zaoyang Wind Power Vanadium Flow Battery Industrial Park with an investment of 10.9 billion yuan in Xiangyang City, Hubei Province signed a contract.

On September 28, in the High Load Energy Industrial Park of North Bridge in Guazhou County, Gansu Province, Huantai Energy Storage Guazhou's annual output of 300MW vanadium liquid flow energy storage equipment production base project is stepping up construction.

In the middle of September, Beijing Detai Energy Storage Technology Co., Ltd., established by Hyde and Yongtai Energy with a joint investment of 1 billion yuan, according to the plan, Detai's energy storage business will focus on the investment in electrochemical energy storage projects, and promote the development of the whole industry chain in the field of all vanadium liquid flow battery energy storage, such as energy storage material resource integration, purification and smelting, new energy storage materials, electrolyte processing, stacks, equipment R&D and manufacturing, and project integration, Provide a complete set of energy storage solutions for new energy and traditional power systems.

And Shanghai Electric, which entered vanadium battery energy storage earlier, said recently that up to now, its subsidiary, Shanghai Electric Energy Storage Technology Co., Ltd., has nearly 3kWh of vanadium battery reserves in hand, and has also made market breakthroughs in overseas markets such as overseas, Japan, Australia and Europe. Up to now, more than 50 vanadium battery energy storage projects have been delivered, and the cumulative installed capacity at home and abroad has exceeded 50 MWh. The application scenarios cover wind storage, optical storage, wind and solar storage, micro grid and other application fields.

It is reported that all vanadium flow battery has many years of demonstration projects in operation around the world, and its industrialization effect and reliability verification are significantly higher than iron chromium flow battery and zinc bromide flow battery.

However, what the industry still needs to break through is that although the full life cycle cost of vanadium battery is lower than that of lithium battery, the initial construction cost is too high, resulting in a weak investment motivation of enterprises. The government may still need to promote the development of an effective price compensation mechanism and long-term energy storage industry policy.

GGII also said that the biggest problem of vanadium battery industrialization is the high cost of electrolyte, and the change is obvious with precious metal futures. It is estimated that during the 14th Five Year Plan period, the continuous expansion of supply chain capacity and the development of business models such as electrolyte leasing will further reduce the cost of the flow battery supply chain.