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American Vanadium Increases Funding Round Target Amount
Green Technology Featured Articles
September 18, 2013

American Vanadium Increases Funding Round Target Amount

By Oliver VanDervoort
Contributing Writer

Canada-based company American Vanadium has announced that it increased the amount it will be seeking with its latest funding round. The company previously announced a private placement on June 26 and said the money that will be sought in that placement is now up to about $0.50 a unit. This means that the firm is looking to bring in about $8 million when all is said and done.


The private placement, as well as another issue of private funding is expected to close on September 26. The company that is looking to strengthen its standing in a market that hasn’t been heard from a lot just yet - but could pick up considerable steam in the coming years.

Green tech has always been a technology that can become quite lucrative, quite quickly. Inside the Green Tech sector, coming up with better energy storage solutions, such as enhanced batteries are some of the most important offerings around.

Vanadium is a kind of metal that might be able to help make energy storage devices work that much more efficiently and effectively despite the fact that it is a relatively new resource to the market. The company might be based in the land to the north, but the firm is looking to set up the first Vanadium mine in the United States. It stands to reason that a good deal of the money that will come from this funding round will go towards that endeavor.

The Gibellini Vanadium Project has been located in Eureka, Nevada and will work to economically produce vanadium electrolyte. This material will be able to be used in the energy storage industry as well as the steel and alloying industries. There may not be a whole lot of gold in those hills anymore, but if Vanadium electrolyte can be found, American Vanadium might be dealing with something more valuable.




Edited by Stefania Viscusi


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