American Vanadium Offers Finance and Lease Options for Cellcube Energy Storage and Microgrid Systems
24 Junho 2013 - 9:29AM
Access Wire
June
24, 2013 - AMERICAN VANADIUM CORP. ("American
Vanadium" or the "Company") (TSX.V: AVC) (OTCQX: AVCVF) announces
it now has arranged with one of America's leading equipment finance
institutions to offer financing and leasing facilities for the
CellCube energy storage systems as well as integrated microgrid
solutions. With over 50 systems installed globally, the CellCube is
the world leading vanadium redox flow battery, capable of scaling
to multi-hour and multi-megawatt size.
"This leasing program
will allow customers in America to install our commercially
available, CellCube vanadium redox flow batteries based on their
operating budget so they can have a world leading energy storage
system without the barrier of the upfront capital cost," stated
Bill Radvak, President & CEO of American Vanadium. "Given that
the CellCube already has a low levelized cost of energy due to the
unlimited number of deep cycling over the twenty year battery life,
this new leasing option provides a very competitive option for
multi-hour, multi-megawatt energy storage for the integration of
renewable energy, microgrid operations and mission critical
facilities."
The CellCube,
manufactured by Gildemeister, is a powerful, durable and by low
maintenance vanadium redox flow battery that can be incorporated
into everyday energy systems. This battery system has a modular
design with the energy and power units being completely
independent, making it truly scalable to multi-hour and
multi-megawatt size. These storage systems will deep cycle (100%)
an unlimited number of times during their twenty-year life. The
CellCube ensures a clean, emission-free energy supply at all times,
characterized by high reliability, high stability and very fast
reaction times.
About American Vanadium
Corp.
American Vanadium has
entered into a master sales agreement with GILDEMEISTER energy
solutions to market and sell the CellCube vanadium redox flow
batteries in North America. American Vanadium is developing the
only vanadium mine in the United States. The Company's Gibellini
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.
A positive Feasibility Study and
updated National Instrument 43-101 on the Gibellini Project were
completed by AMEC E&C Services in 2011.
American Vanadium trades on the TSX
Venture Exchange as a tier-one company under the symbol "AVC", the
OTCQX Market under the symbol "AVCVF" and the Frankfurt Stock
Exchange under the symbol "0UA".
ON BEHALF OF THE BOARD
Bill Radvak, President and CEO
For further information, please contact:
Bill Radvak, President & CEO
Phone: (604) 681-8588 X 101
Email: bradvak@americanvanadium.com
or
Mike Hyslop, Director, Corporate Development
Phone: (604) 681-8588 X 102
Email: mhyslop@americanvanadium.com
Web site: www.americanvanadium.com
NEITHER TSX VENTURE EXCHANGE NOR ITS
REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES
OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE
ADEQUACY OR ACCURACY OF THIS RELEASE.
Forward-Looking
Statements: This press release contains "forward-looking
information" within the meaning of applicable Canadian securities
laws, including future plans and objectives for the Gibellini
Project and the energy storage business. Such forward-looking
statements involve known and unknown risks, uncertainties and other
factors, which may cause the actual results, performance or
achievements of American Vanadium to be materially different from
any future results, performance or achievements expressed or
implied by the forward-looking information. Forward-looking
information includes estimates of mine production rates and mine
life, revenues from future mining operations, capital and operating
costs, and pay-back period. Factors that may cause actual results
to vary include, but are not limited to, changes in project
parameters as plans continue to be refined; future prices of
vanadium; possible variations in reserves, grade or recovery rates;
changes to capital and operating cost estimate, delays in obtaining
governmental approvals or financing or in the completion of
development or construction activities. We may not have adequate
capital, financing or cash flow to sustain our business or
implement our business plans. Statements contemplating or making
assumptions regarding actual or potential sales, market size and
demand, prospective business contracts, customer orders or trends
in the energy storage market constitute forward looking statements.
Our actual results may differ from those indicated in forward
looking statements as the energy storage and renewable energy
generation business is subject to significant economic,
competitive, regulatory, business and industry risks which are
difficult to predict and many of which are beyond our control. Our
business performance may be adversely affected by a general decline
in the economy, unavailability of capital or financing for
prospective customers to purchase products and services from us,
competition, changes in regulations, a decline in the demand for
energy storage and other risks. Although American Vanadium has
attempted to identify important factors that could cause actual
results to differ materially from those contained in
forward-looking statements, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can
be no assurance that such statements will prove to be accurate, as
actual results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not
place undue reliance on forward-looking statements. American
Vanadium does not undertake to update any forward-looking
statements, except in accordance with applicable securities
laws.
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