Looking to improve upon today's solid-state batteries, Toronto's Golden Share Resources Corp. (TSX-V:GSH) has partnered with Battelle Memorial Institute, through its Pacific Northwest Division, operator of the Pacific Northwest National Laboratory (PNNL) for the U.S. Department of Energy.
Per the pact, the Pacific Northwest National Laboratory will conduct R&D exploring novel vanadium based solid-state battery technologies for a period of 24 months.
The parties agree that the proposed vanadium battery will be superior to current solid-state and redox flow batteries with respect to high energy density and possibly simplicity of cell design. Golden Share will assume the cost of $906,000, payable as $100,000 up front and monthly invoices thereafter.
The vanadium will be sourced through a strategic partnership between Golden Share and the Chinese State-owned Northwest Mining & Exploration Group Co., Ltd. For Nonferrous Metals (NWME) signed in May 2016 for high purity vanadium from NWME's Qianjiaping Vanadium Mine in Shaanxi Province, China.
The agreement is the latest in a growing relationship with the Department of Energy unit. Previously, Golden Shares entered an agreement with PNNL to license novel vanadium electrolytes produced by PNNL that have advantages over predecessors, such as higher energy density and a wider temperature operating range.
Last February, Golden Shares successfully produced the licensed electrolyte, the latest milestone in advancing the technology.
Shares of GSH have been surging since November, rising from a low of nine cents on November 8 to as high as 30 cents last week. After trading up a penny-and-a-half at the opening bell on the news, shares have slipped back to even on the day at 27.5 cents with about 30 minutes left in Tuesday's session.
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