NanoNiFe has developed an innovative battery system rooted in the established Vanadium Redox Flow Battery (VRFB) technology, which utilises an aqueous electrolytic solution for energy storage. VRFBs are renowned for their scalability, extensive lifespan and consistent performance. They offer economic advantages with a low levelized cost of energy (LCOE), require minimal maintenance, and boast safety features such as non-flammability. Additionally, these batteries are environmentally friendly, being recyclable and retaining significant residual value.
The Vanadium Redox Flow Battery operates through a process that involves the storage of energy in liquid electrolytes contained within external tanks. These electrolytes circulate through a cell stack during charging and discharging processes, allowing for efficient energy exchange. The unique characteristic of VRFBs is their ability to store energy in the liquid form outside the battery itself, which offers distinct advantages in terms of scalability and longevity. This design enables the battery to have a longer operational life and capacity for large-scale energy storage solutions, making it particularly effective for industrial applications (see the link below for “How Vanadium Redox Flow Battery (VRFB) Works” (https://www.youtube.com/watch?v=qQEbJQhADTU).
When comparing VRFBs to lithium-ion batteries, several differences stand out. Lithium-ion batteries are renowned for their high energy density and are widely used in portable electronic devices and electric vehicles due to their compact size and efficiency. However, they have limitations concerning lifespan and safety issues, such as thermal runaway risks. On the other hand, VRFBs offer enhanced safety and a longer cycle life without degradation, as the electrolyte does not deteriorate with repeated use. This makes VRFBs a more sustainable option for long-term energy storage despite their lower energy density compared to lithium-ion batteries (see below “ Vanadium Redox Flow Battery vs Lithium Battery” (https://www.youtube.com/watch?v=PHytm3H4GNg)
For those interested in a thorough exploration of these topics, refer to the comprehensive white paper titled “Understanding Vanadium Redox Flow Battery,” (https://vanitec.org/technical-library/paper/understanding-vanadium-redox-flow-batteries) which delves deeper into the intricacies of VRFB technology and its potential applications.
