Storion Energy is a joint venture between Stryten Energy and Largo Clean Energy Corp. to remove barriers to entry for battery manufacturers to use domestic, price-competitive components for flow battery industry. Storion is focused on securing a unique vanadium leasing model to reduce costs. The vanadium electrolyte represents 40-60% of a VRFB system’s cost, making it a key area for reduction. Storion is using a proprietary continuous process and patented purification process to offer high-quality, domestically sourced electrolyte. The company is partnering with Largo Physical Vanadium Corp.’s exchange trade funds to offer a vanadium electrolyte leasing model, which can help VRFB compete with lithium-ion battery energy storage systems. The company’s mission is to supply the U.S. market with reliable energy storage solutions.
Storion’s focus on component supply allows it to enable other VRFB companies and the broader flow battery market. The company believes that vanadium redox flow batteries are a better solution for long-duration energy storage than lithium-based batteries, as they can be scaled up and down as needed. Storion is working to reduce the cost of vanadium electrolyte through its proprietary process and patented purification process, making it possible to achieve the DOE’s goal of $0.05/kWh levelized cost of storage.