Billions of dollars are being invested worldwide in the developing battery boom, involving research into storage techniques to use the growing surpluses of cheap renewable energy now becoming available. Recent developments in batteries are set to sweep aside the old arguments about renewables being intermittent, dismissing any need to continue building nuclear power plants and burning fossil fuels to act as a back-up when the wind does not blow, or the sun does not shine.
According to Bloomberg, around US$600 billion will be invested in large-scale batteries over the next 20 years to provide back-up to the grid and power for the expected boom in electric cars.
One of the latest advances is to use another rare metal, vanadium. Vanadium flow batteries are large static batteries that last for decades and can be charged and discharged completely thousands of times. They are not portable, but last for years without deterioration and are increasingly being deployed by national grids to boost supply during peak demand.
Bushveld Minerals Limited (LON:BMN), together with its subsidiaries, engages in the exploration and development of mineral projects in South Africa. It operates through three segments: Vanadium and Iron Ore, Coal Exploration, and Vanadium Mining and Production.