In this episode of the podcast, we dissect the vanadium market. Vanadium has been primarily used in the steel market to dramatically strengthen the material but the real growth in the market is expected to come from the Vanadium Redox Flow Battery (VRFB) – a battery that has many advantages over its lithium-ion cousin.

My guest today is Mr. Johnathan Lee. Johnathan is a director at Largo Physical Vanadium (LPV), a seasoned market analyst, and a good friend. LPV is a vanadium holding company that has the mandate to purchase and hold physical vanadium and has relationships with Largo Resources and others. Largo is a tier-one vertically integrated operator of the Maracas Menchen vanadium mine in Brazil.

By the end of this podcast you will:

1. Have a solid understanding of the fundamentals of the vanadium market

2. Have a solid understanding of the VRFB including its pros and cons relative to other battery chemistries

3. Hear Jonathan’s thoughts on the state of the Battery Metals markets

As a brief aside, there are two data points used in the podcast which we wanted to clarify. Regarding the McKinsey report referenced in the discussion, the report is calling for 7.5 TWh of cumulative storage capacity. Second, regarding the amount of vanadium pentoxide used in a VRFB, the ratio is 20 lbs per KWh. Please enjoy this wide-ranging discussion on the vanadium market with my friend Jonathan Lee.