Amsterdam, 23 August 2021 --- AMG Advanced Metallurgical Group N.V. ("AMG", EURONEXT AMSTERDAM: "AMG") is pleased to announce the construction of its first lithium vanadium battery for industrial power management applications. As part of its presence in the “circular economy” AMG is the world’s leading recycler of vanadium products from industrial residues and waste. This expertise includes high purity vanadium-based electrolytes, the central component of vanadium redox flow batteries.
In energy intensive industrial manufacturing applications, companies frequently seek to flatten production-driven spikes of electricity demand to reduce costs and avoid penalties charged by electricity suppliers. The traditional solution has been to install a captive “stand by” power unit running on diesel fuel. This solution is a tradeoff of lower electricity costs for higher CO2 emissions.
AMG has developed an alternative concept in the form of a large scale “hybrid” lithium vanadium redox flow battery (“LIVA”) which avoids CO2 emissions. The lithium part of the new battery design enables fast discharging including black start abilities. The lithium battery is then recharged by the low-cost vanadium battery which in turn is charged by the grid.
To manage the LIVA battery an advanced software solution is essential. AMG is pleased to announce the acquisition of Phyr7 GmbH, Heidelberg, a specialist for artificial intelligence (AI) based power management solutions. The Phyr 7 software ecosystem simulates and operates various energy storage assets like lithium-ion and Vanadium Redox Flow batteries as well as Gas-To-Power facilities with artificial intelligence routines and self-learning algorithms. Besides maximizing the efficiency, safety and lifetime of the batteries, the software enables the economic integration of sector coupling strategies with renewable energies and green hydrogen.
The first LIVA system will be installed in one of AMG’s German manufacturing plants and is scheduled to go online in the first quarter of 2022. Engineering has started for three more systems, two in Germany and one in the US.
Phyr7 will be renamed LIVA Power Management Systems GmbH, Frankfurt, and will manage AMG’s entrance into this very large market opportunity. LIVA Power Management Systems will be established with an initial capitalization of EUR 5 million. AMG Engineering is building the integrated system, AMG Titanium & Coatings will supply the vanadium electrolyte, and AMG Lithium is designing the lithium portion of the battery.
Dr. Volker Koelln, Founder of Phyr7 GmbH, is the CEO of LIVA Power Management Systems GmbH, and Holger Mueller-Rink is CFO, holding the same position at AMG Lithium. Dr. Stefan Scherer chairs the company’s Supervisory Board.