Private Placement of up to $5 Million and Extension of Expiry of $0.60 Warrants
February 24, 2014 (Source: Accesswire) — AMERICAN VANADIUM CORP. (“American Vanadium” or the “Company”) (TSX.V: AVC) (OTCQX: AVCVF) announces that the US Department of Energy’s National Renewable Energy Laboratory (“NREL”) will evaluate and demonstrate the CellCube vanadium redox flow energy storage system at its state-of-the-art testing facility. After the demonstration of the energy storage system at NREL’s facility in Golden, Colorado, the CellCube is designated for sale to a US utility.
“Given the strong interest received from utilities, solar developers, integrators and other potential customers, this demonstration of the CellCube at the premier independent testing facility of the US Department of Energy is a critical step for our Company,” said Bill Radvak, President & CEO of American Vanadium Corp. “A number of leading utilities, integrators and developers will be participating and observing the operation of the CellCube, and we welcome other interested customers and partners to join us with this important demonstration.”
American Vanadium is the master sales agent for the CellCube energy storage system in North America. The CellCube is a fully commercial system that has been sold and installed across Europe, Asia and Africa, with more than 50 systems currently in operation at customer sites worldwide. The CellCube system is modular and can serve loads from 10kW to multi-MWs, and, as a flow battery, the system excels at providing multiple hours of energy for long-duration requirements.
As the US Energy Department’s only national laboratory focused on renewable energy and energy efficiency, NREL is uniquely positioned to help inform and guide energy system transformation. NREL complements its scientific research with high-quality, credible, technology-neutral and objective analysis that spans the entire energy portfolio. They inform policy and investment decisions, as renewable energy and energy efficiency technologies move from concept to commercialization to market penetration. NREL is a government-owned, contractor-operated facility; it is funded through the U.S Department of Energy.
About American Vanadium Corp.
American Vanadium is an integrated energy storage company that markets and sells GILDEMEISTER’S CellCube vanadium redox flow batteries in North America. American Vanadium is developing the only vanadium mine in the United States, providing a critical source of vanadium electrolyte for CellCube energy storage systems. The Company’s Gibellini Vanadium Project, located in Nevada, is being designed to economically produce vanadium electrolyte for the energy storage industry, as well as vanadium products for the steel and alloying industries.
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ON BEHALF OF THE BOARD
Bill Radvak, President and CEO
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