Vanadium firm Stina Resources announced on March 5 it had made Brian Ricker president and CEO of its subsidiary Jet Power and Controls to oversee the company’s goal of becoming a vertically integrated manufacturer of redox flow batteries.
Ricker will integrate Jet Power’s electronic switchgear technology with Gildemeister’s vanadium redox flow batteries with the intent of expanding the company’s market share throughout North America.
Canadian firm Stina announced on February 28 it had bought Jet Power in exchange for six million of its common shares, as well as C$1 million ($735,000) in operating funds to enable the company to fill immediate production orders.
Part of Jet Power’s new business model is providing products and services for storage batteries.
The buy out followed the purchase of VRFB firm Gildemeister Energy Storage. The company announced the deal last November, but it wasn’t until February 5 that the legal process was completed.
Gildemeister’s patented CellCube battery has been installed in more than 100 projects around the world, including 63 in Europe and ventures in Africa, Australia and South America.
Brian Stecyk, president & CEO at Stina, told ESJB: “People are far more knowledgeable about flow batteries in Europe than North America, that’s why we bought Gildemeister because it is an merging technology and in the next couple of decades it will be used in an amazing number of applications.
“Lithium ion is excellent for some applications but flow batteries are far better in others. You will never see one in a car or a garage but you will see them combined with solar or wind, as a diesel alternative and for grid and microgrid uses.”
He said there is a lot of discussion about long duration batteries and many people were looking at the technology for peak shaving services, among others.
Flow batteries offer a good levelized cost of energy, he said, compared to other technologies because of their 20-25 year life span, and the vanadium electrolyte can be cleaned and reused.
Ricker was responsible for managing domestic and international projects at power management company Eaton Corporation.
He said: “Jet Power offered me the opportunity and challenge of building a company with similar products to Eaton, but with greater upside, given the fast growing energy storage industry. I was also attracted by Stina’s vision and its goal of becoming a fully integrated producer of vanadium, vanadium electrolyte and VRBs.
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Vanadium firm Stina Resources announced on March 5 it had made Brian Ricker president and CEO of its subsidiary Jet Power and Controls to oversee the company’s goal of becoming a vertically integrated manufacturer of redox flow batteries. Ricker will integrate Jet Power’s electronic switchgear technology with Gildemeister’s vanadium redox flow batteries with the read more
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