American Vanadium Offers Finance and Lease Options for Cellcube Energy Storage and Microgrid Systems
(via Thenewswire.ca)
June 24, 2013 - AMERICAN VANADIUM
CORP. ("American Vanadium" or the
"Company") (TSX.V: AVC) (OTCQX: AVCVF) announces it now has
arranged with one of America's leading equipment finance institutions
to offer financing and leasing facilities for the CellCube energy
storage systems as well as integrated microgrid solutions. With over
50 systems installed globally, the CellCube is the world leading
vanadium redox flow battery, capable of scaling to multi-hour and
multi-megawatt size.
"This leasing program will allow customers in
America to install our commercially available, CellCube vanadium redox
flow batteries based on their operating budget so they can have a
world leading energy storage system without the barrier of the upfront
capital cost," stated Bill Radvak, President & CEO of
American Vanadium. "Given that the CellCube already has a low
levelized cost of energy due to the unlimited number of deep cycling
over the twenty year battery life, this new leasing option provides a
very competitive option for multi-hour, multi-megawatt energy storage
for the integration of renewable energy, microgrid operations and
mission critical facilities."
The CellCube, manufactured by Gildemeister, is a
powerful, durable and by low maintenance vanadium redox flow battery
that can be incorporated into everyday energy systems. This battery
system has a modular design with the energy and power units being
completely independent, making it truly scalable to multi-hour and
multi-megawatt size. These storage systems will deep cycle (100%) an
unlimited number of times during their twenty-year life. The CellCube
ensures a clean, emission-free energy supply at all times,
characterized by high reliability, high stability and very fast
reaction times.
About American Vanadium Corp.
American Vanadium has entered into a master sales
agreement with GILDEMEISTER energy solutions to market and sell the
CellCube vanadium redox flow batteries in North America. American
Vanadium is developing the only vanadium mine in the United States.
The Company's Gibellini Project, located in Nevada, is being designed
to economically produce vanadium electrolyte for the energy storage
industry, as well as vanadium products for the steel and alloying
industries.
A positive Feasibility Study and updated National Instrument 43-101 on
the Gibellini Project were completed by AMEC E&C Services in 2011.
American Vanadium trades on the TSX Venture Exchange as a tier-one
company under the symbol "AVC", the OTCQX Market under the
symbol "AVCVF" and the Frankfurt Stock Exchange under the
symbol "0UA".
ON BEHALF OF THE BOARD
Bill Radvak, President and CEO
For further information, please contact:
Bill Radvak, President & CEO
Phone: (604) 681-8588 X 101
Email: bradvak@americanvanadium.com
or
Mike Hyslop, Director, Corporate Development
Phone: (604) 681-8588 X 102
Email: mhyslop@americanvanadium.com
Web site: www.americanvanadium.com
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS
THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Forward-Looking Statements: This press release contains
"forward-looking information" within the meaning of
applicable Canadian securities laws, including future plans and
objectives for the Gibellini Project and the energy storage business.
Such forward-looking statements involve known and unknown risks,
uncertainties and other factors, which may cause the actual results,
performance or achievements of American Vanadium to be materially
different from any future results, performance or achievements
expressed or implied by the forward-looking information.
Forward-looking information includes estimates of mine production
rates and mine life, revenues from future mining operations, capital
and operating costs, and pay-back period. Factors that may cause
actual results to vary include, but are not limited to, changes in
project parameters as plans continue to be refined; future prices of
vanadium; possible variations in reserves, grade or recovery rates;
changes to capital and operating cost estimate, delays in obtaining
governmental approvals or financing or in the completion of
development or construction activities. We may not have adequate
capital, financing or cash flow to sustain our business or implement
our business plans. Statements contemplating or making assumptions
regarding actual or potential sales, market size and demand,
prospective business contracts, customer orders or trends in the
energy storage market constitute forward looking statements. Our
actual results may differ from those indicated in forward looking
statements as the energy storage and renewable energy generation
business is subject to significant economic, competitive, regulatory,
business and industry risks which are difficult to predict and many of
which are beyond our control. Our business performance may be
adversely affected by a general decline in the economy, unavailability
of capital or financing for prospective customers to purchase products
and services from us, competition, changes in regulations, a decline
in the demand for energy storage and other risks. Although American
Vanadium has attempted to identify important factors that could cause
actual results to differ materially from those contained in
forward-looking statements, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can be
no assurance that such statements will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not place
undue reliance on forward-looking statements. American Vanadium does
not undertake to update any forward-looking statements, except in
accordance with applicable securities laws.
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