Mining
Protean Energy (ASX:POW) is a vertically integrated vanadium resource and energy storage company focused on the advancement of its flagship Daejon vanadium/uranium project and commercialisation of vanadium redox flow battery (VRFB) energy storage systems. At the centre of the business is its high-quality vanadium and uranium deposit in South Korea, which is owned via a 50:50 partnership with KOSDAQ-listed DST Co.
Protean is also working alongside its 50 per cent Korean Partner, KORID Energy to develop its VRFB energy storage technology, which can store more power and last much longer than lithium-ion batteries. The company has run a successful trial of the technology in Australia, with funding from the Korean Institute of Energy Technology Evaluation and Planning (KETEP).
With applications for vanadium on the rise due to demand for electric vehicles, stationary storage and VRFB technology, Protean sees a number of commercialisation opportunities for its business.
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