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Toronto, ONTARIO- May 1st , 2024– Sparton Resources (TSXV-SRI), (“Sparton” or “the Company”), is pleased to announce today that VRB Energy Inc. reported through its China domestic website, on April 26, 2024, a visit by Huawei Digital Power representatives to VRB Energy’s Beijing, PRC, area operations.
The General Manager of Huawei Digital Power & Microgrid Business, and his team, accompanied the Vice President of Technical Services, Ivanhoe China, and the Head of Investment & Corporate Development, Ivanhoe China, visited VRB Energy’s factory in Tongzhou, Beijing.
Charles Ge, CEO of VRB Energy, together with the VRB Energy executives and technical team, provided a comprehensive tour and overview of VRB Energy’s history, technical innovations, production facility and R&D operations. This included the recently certified Gen3 system.
Huawei Digital Power (https://digitalpower.huawei.com/en/), is part of the Huawei Group of companies, and a world leader in providing digital power products and solutions. The company is committed to providing digital and power electronics technologies to enhance the operation of clean energy power installations and create new power systems that rely on renewable energy. It continues innovating through collaboration with global partners to promote carbon neutrality.
Sparton owns a 90% interest in its subsidiary, VanSpar Mining Inc., which in turn owns a 9.975% equity interest in VRB Energy Inc.
A full report on the visit is posted below and on Sparton’s website at www.spartonres.ca.
About VRB Energy
VRB Energy is a fast-growing, privately held clean technology innovator. The company has developed the most reliable, longest-lasting vanadium flow battery in the world, with more than 500 megawatt-hours installed or in development worldwide, and more than 1,000,000 hours of demonstrated performance.
VRB Energy’s vanadium redox battery systems store energy in liquid electrolyte in a patented process based on the reduction and oxidation of ionic forms of the element vanadium. This is a repeatable process that is safe, reliable, and non-toxic. The electrolyte can be recycled at end-of-life, dramatically improving lifecycle economics and environmental benefits including safety, compared to lithium-ion and other battery types.
Commentary
“Sparton is delighted to see this development in VRB Energy’s marketing initiatives, stated A. Lee Barker, Company CEO. We believe the success of VRB Energy lies in long-term collaboration with partners like Huawei Digital Power, who have an international network of projects related to renewable energy, storage, and power distribution. There are many synergies between the VRB Energy products and the technologies developed and available through Huawei Digital Power. We are looking forward to further communication between the companies and development of mutual business opportunities”.
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Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
Information set forth in this news release involves forward-looking statements under applicable securities laws. The forward-looking statements contained herein include, but are not limited to, financings and transactions being pursued, and all such forward-looking statements are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this news release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Although the Company believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct and, accordingly, undue reliance should not be put on such forward-looking statements. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein.
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