ASX: PRL up 457%, but why?

So Province Resources took off today, up 457% at close and “valued” at $19.9 Trillion based on todays trading.

WTF? You might well ask that, FOMO obviously took hold today. Read on and understand why Vanadium is the new Lithium.

The Vanadium redox battery is potentially a key solution to the Duck Curve problem facing solar power supply to power grids. With a lower cost/kW.hr and potentially unlimited charge/discharge cycle life, redox batteries are finding a niche in the future renewable energy ecosystem.

As expected several companies are working to commercialise Vanadium Redox flow batteries.

ASX:TNG launched a vanadium redox flow battery (VRFB) business unit as part of the vertical integration strategy for its flagship Mount Peake vanadium-titanium-iron project in the Northern Territory in 2020.

Australaian Vanadium ASX:AVL has the Australian Vanadium Project, and is commercialising conversion of their ore resources into VRFB with Chinese manufacturer CEC VRFB Co. Ltd

Redflow (ASX:RFX ) have zinc bromine flow batteries in the market with retail consumer and commercial products. While the Redflow zinc bromine is an alternative to Vanadium flow battery technology, it’s worth understanding the rapidly growing battery economy.