VRB Energy announces US$24 million investment from BCPG, one of Asia-Pacific's largest renewable energy companies

0
57

BCPG's support validates VRB Energy's advanced-flow battery technology as the ideal solution for integrating solar and wind power across the region

BEIJING and VANCOUVER, British Columbia, July 02, 2021 (GLOBE NEWSWIRE) — VRB Energy Chairman Robert Friedland and Chief Executive Officer Dr. Mianyan Huang are pleased to announce an investment of US$24 million by BCPG to accelerate growth of VRB Energy's global energy storage business.

The investment by BCPG PLC (BCPG:Bangkok) – a Thailand-based developer and owner of renewable energy projects in the Asia-Pacific region, with 900 megawatts (MW) in operation and a pipeline of over 2,200MW, across Southeast Asia, Japan and Australia – will support rollout of VRB Energy's Gen3 VRB-ESS® product, expanded manufacturing capacity, and vertical integration of vanadium processing to meet growing global demand.

"BCPG is a leader in Asia's green energy revolution, and this investment reinforces our belief that VRB Energy's game-changing technology will be a catalyst for integration of massive amounts of renewable energy around the region," said Mr. Friedland.

"Countries around the world are now committed to net-zero carbon solutions, which will require vast capital investment over the next 25 years in energy storage. We're extremely proud to be bringing forward vanadium-based batteries as a key solution for this global transformation,” added Mr. Friedland.

Developers and utilities are attracted to the low levelized cost of energy (LCOE) that VRB-ESS® deliver – with no cycle limits and no degradation of the vanadium …

Full story available on Benzinga.com

LEAVE A REPLY

Please enter your comment!
Please enter your name here