Protean’s battery achieves ‘in use’ performance milestone

By Megan Graham. Published at Jun 12, 2018, in Small Caps

Protean Energy Ltd (ASX:POW) has provided an update regarding the extensive testing program carried out on its 5kW and 25kW V-KOR vanadium battery units.

Over 3,000 cycles have now been tested on the 5kW stack, representing in excess of nine years of full daily cycles for a typical solar photovoltaic (PV) application. In addition, more than 1,000 cycles (three years of full daily cycles) of testing has been completed on the 25kW stack.

Crucially, both units reported no significant degradation in performance. The completion of this successful testing is considered to be representative of “in use” battery performance and therefore, is a key step in POW’s progression towards the commercialisation of V-KOR and customer orders.

Both V-KOR units were independently tested by Korea Conformity Laboratories (KCL), a leading state-of-the-art national testing laboratory established over 40 years ago.

The proprietary V-KOR technology is 100% owned by KORID Energy (KORID), a 50% owned subsidiary of POW devoted to developing battery technology.

The V-KOR technology — which has been developed over the last five years with over US$3 million dollars invested to date in research, development, testing and IP protection — is underpinned by 15 granted patents.

20kW solar PV integrated with two 25kW V-KOR battery and the electricity grid in a field test site at Seosan-si in Korea.

However, POW remains a speculative play and there is much work to be done, so investors should seek professional financial advice if considering this stock for their portfolio.

About KORID and V-KOR

KORID is jointly owned by Protean (50%) and KOSDAQ-listed DST Company Limited (50%).

KORID has utilised grant funding over the last five years to develop four stack sizes of flow batteries, including 2.5kW, 5kW, 10kW and 25kW units to provide commercial options to customers with varying energy consumption and storage needs.

Ultimately, the end-result of V-KOR’s strategy is to provide large (1-5MW) storage units with energy storage capacity expanded simply by increasing electrolyte volume.

In addition to KORID’s current Australian trial, two 25kW stacks are undergoing field trials with KCL as part of a solar PV and VRFB-ESS combination trial in Korea.


Where to invest $1,000 right now

When the experts at Next Investors have a stock pick, it may pay to listen.

The Next Investors have been investing in ASX small cap stocks for years, with their best small cap picks yielding returns of 1,200%, 1,120%, 900% and 678%.

They have just revealed their hand-picked, FY2021 stock portfolio of high conviction long-term investments.

Click the link below to see what they are currently investing in.


SEE THE PORTFOLIO

S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.

Conflict of Interest Notice

S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.

Publishers Notice

The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.

Australian ASX Small Cap stocks | Why Finfeed.com is Australia’s leading small cap publication

Founded seven years ago, Finfeed.com is Australia’s leading and longest standing website for investor and finance news, education and expert opinion.

Published by StocksDigital, Finfeed was created to report daily on the comings and goings of ASX listed stocks in the small cap market.

As the first digital publication dedicated specifically to this space, Finfeed soon became the most trusted publication in the market, quickly garnering over two million page views – a number that continues to rise.

Finfeed.com provides its readers with informative articles that tackle the latest in market moving #ASX small cap news, plus exclusive content you won’t find anywhere else. It is aimed at those with an interest in investing, market education, company performance, start-ups and much more.

Finfeed.com is the only media organisation operating under the strength of a Financial Services License and is backed by leading journalists and analysts all with brands of their own.

The website aims to inform, educate and entertain with content that drills down into the heart of financial matters.

Finfeed is a leading source of investor and market information, with everything investors need to know about how to invest written in a way that anyone can understand. 

Over the years, the website has expanded beyond exclusively reporting on small caps, to profile Australia’s leading ASX listed small, mid and large caps as well as some of the country’s most successful CEOs and business leaders to find out what makes them tick.

Every day you will find fresh content covering:

Fast Facts

Over 4,000 articles published

Over 2.3 Million Page Views and counting

Over 10,000 followers on social media

Subscriber list growing by 2% monthly

Thanks for subscribing!

X