Phenom Reports Commercialization Progress at MK Plus's New Swedish Base
Phenom secures $12m in swedish funding to advance its vanadium battery commercialization efforts.
Phenom Resources Corp. holds a 5% equity interest in MK Plus Co., Ltd., which has secured nearly SEK 120 million (US$12 million) from the Swedish Energy Agency to industrialize its Vanadium Solid-State Battery (VSB) technology. The company has added over 10 new interested customers in Europe and the Middle East. The first round of batteries is scheduled for delivery this fall to the Austria State government of Burgenland, Agelus/Aramco, and Saudi Arabia. The Swedish plant retooling is at an advanced stage, marking a transition from technology developer to international manufacturer.
Phenom Resources Corp. (PHNM) holds a 5% equity stake in MK Plus, a company that recently secured SEK 120 million in funding and developed a customer pipeline. This news serves as incremental commercial validation for MK Plus, though the financials do not directly flow to Phenom’s balance sheet or operations. The update follows an April 2026 announcement regarding a 2.5 GWh order from Austria, indicating steady progress rather than a sudden market-moving catalyst. Phenom’s core operations remain focused on Nevada gold and critical metal exploration, with no immediate revenue generation from the vanadium battery venture. The announcement is consistent with management's long-term thesis but does not alter the company's near-term financial requirements or exploration timeline.
Phenom Resources Corp. (PHNM) is a pre-revenue junior explorer headquartered in Vancouver, with operations in Nevada, USA. The company holds a diversified portfolio of gold and critical metal projects, primarily in the Carlin Gold Trend region. Flagship assets include the Dobbin Gold Project, a Carlin-type target; Crescent Valley, a Bonanza-type epithermal gold and IOCG REE deposit; King Solomon; and the Carlin Gold-Vanadium Project. The company is pursuing a strategic split into two standalone entities, Gold and Vanadium, to maximize value. Management emphasizes near-surface, lower-cost drilling targets to advance exploration efficiently.