Ivanhoe Electric to Allocate $20 million of Transaction Proceeds to Establish US-Domiciled Vanadium Redox Flow Battery Business
Ivanhoe Electric Inc. Executive Chairman Robert Friedland and President and Chief Executive Officer Taylor Melvin are pleased to announce today the signing of Definitive Agreements between the Company's 90%-owned subsidiary, V
RB Energy Inc. , a subsidiary of privately held Shanxi Red Sun Co., Ltd. , and certain other affiliates, finalizing the terms of the transaction announced on September 23, 2024 . The Joint Venture, which will receive a $35 million capital increase from Red Sun, is being formed to expand manufacturing and sales of vanadium redox flow battery systems. In addition to the formation of the Joint Venture, I...