According to Mining News Pro -Ultra plans to integrate low cost battery grade vanadium electrolyte into vanadium redox batteries from virtually any source. VEPT can be applied at a fraction of the time and capital requirements of conventional vanadium extraction processes. The technology also reduces the related emissions. Operating costs are offset by the production of by-products.

Ultra has been granted a six-month option to acquire the licence for Australia in return for a payment of US$500,000. The licensing terms include minimum annual payments, financing fees, and royalty payments for all vanadium and by-products upon production.

http://www.miningnewspro.com/en/News/312863/VANADIUM: Ultra Power chooses Canadian technology for world’s first processing plant