KOSEN Acquires Additional Shares in Vanadium Battery Company

Kosen announced on the 18th that it has additionally acquired shares of XRBi, a company specializing in Vanadium Redox Flow Batteries (VRFB).

Kosen's stake in XRBi increased by 5.63 percentage points from the previous 28.57% to 34.2%. This is not significantly different from the largest shareholder's stake in XRBi.

XRBi is a company that developed the expandable secondary battery redox battery (XRB), which complements the shortcomings of existing VRFBs. Through securing new technology, it has succeeded in filing global patents in the United States and other countries. Commercialization is underway using domestic technology and domestic equipment.

Due to its design characteristics, XRB can be used for high-power, high-efficiency long-cycle ESS (Energy Storage System) applications. Additionally, by applying existing VRFB technology, it has realized high-power characteristics more than 2 to 3 times higher than conventional levels.

A company representative said, "Vanadium batteries, which have overcome the biggest drawbacks of existing lithium batteries such as fire and explosion, are expected to show explosive growth in the renewable energy and power grid-related markets." He added, "This decision was made with confidence in XRBi's technological capabilities and certainty about the growth potential of the vanadium battery-related market." Numerous research and demonstration investment consultations are underway with companies related to KEPCO in Korea.

XRBi plans to conduct demonstration projects in various markets this year. It is actively negotiating with renewable power producers, large buildings and data centers, EV charging operators, and is also preparing ESS demonstrations for off-grid use in Southeast Asian countries. Depending on the demonstration results, full-scale mass production is planned to begin around the end of this year or next year.

This content was produced with the assistance of AI translation services.