Sparton sees VRB China awarded for 200 MWh battery

Executive Summary

• Beijing Puneng Century Technology Co. Ltd. (BJP) won the bid to build a 50‑MW / 200 MWh all‑vanadium liquid flow battery power station in Longzhouping, Changyang, Hubei, China.
• The project is part of the VRB China joint venture (51% Shanxi Red Sun Co., 49% VRB Energy Inc.) and represents an indirect 4.4% economic interest for Sparton Resources via its holdings in VanSpar Mining Inc. and VRB Energy.
• Bid value is CNY 467 million (~US$65.6 million); the plant is slated to connect to the grid by 31 Dec 2025, enhancing regional electricity stability and supporting growth of the vanadium flow‑battery industry.

Key Details

• Bid Winner: Beijing Puneng Century Technology Co. Ltd. (BJP).
• Project Scope: Construction of a 50‑MW, 200 MWh all‑vanadium liquid flow battery energy storage power station.
• Location: Longzhouping town, Changyang, Hubei Province, People’s Republic of China.
• Joint Venture Ownership: 51% Shanxi Red Sun Co. Ltd.; 49% VRB Energy Inc. (100% owned by BJP).
• Sparton’s Indirect Interest: 9.975% stake in VRB Energy via a 90% interest in VanSpar Mining Inc., equating to an indirect ~4.4% economic interest in the VRB China JV.
• Consortium for Installation: BJP, Changyang Lutong Engineering Construction Co. Ltd., and Hubei Electric Power and Design Institute Co. Ltd.
• Bid Value: CNY 467 million (≈ US$65.6 million).
• Projected Grid Connection Date: 31 December 2025.
• Strategic Significance: Expected to improve local grid stability, stimulate economic development in the region, and accelerate broader adoption of vanadium flow‑battery technology.
• Related Announcements: Ivanhoe Electric Inc., majority owner of VRB Energy, previously announced (Oct 15 2024) the formation of the VRB China JV and is proceeding with a VRB USA manufacturing facility in Arizona for non‑Asian deployments.

Notable Quotes

“The combination of the joint venture's ability to execute its projects quickly, BJP's advanced flow battery technology and the successful 17-year history of building the world's safest and longest active service vanadium flow batteries, has resulted in this successful bid. It is very rewarding to see this progress, and we congratulate the Joint Venture and BJP on these accomplishments,” – A. Lee Barker, President, Sparton Resources Inc.