Agreement between Ansaldo Green Tech and Largo Clean Energy for the production and commercial distribution of flow batteries

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For the production and commercial distribution of Vanadium Redox Flow Batteries (VRFB)

Ansaldo Green Tech, a subsidiary of Ansaldo Energia which operates in the field of renewable energy and storage and Largo Clean Energy Corp, one of the world's most important vanadium companies, signed a non-binding memorandum of understanding for the commercial implementation of the Company's VCHARGE Vanadium Redox Flow Battery ("VRFB"), a battery composed of the VRFB stack, the vanadium electrolyte and the Balance of System ("Bos") in the European, African and Middle Eastern markets, through the establishment of a joint venture in Italy.

Vanadium flow batteries (Vanadium Redox Flow Batteries - VRFB) are electrochemical devices that accumulate energy by changing the oxidation state of two chemicals (electrolytes). Compared to other electrochemical batteries, the VRFB allow to make the amount of accumulated energy and the electric power charge/discharge independent, granting specific customizations for every possible energy scenario of the energy transition.

Due to their dimensional characteristics, VRFB are particularly suitable for stationary applications.

Energy storage is the real enabler of the energy transition, since it makes available the energy produced by renewable sources when required, thus overcoming the problems related to the intermittence and cyclicity of renewables.

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