Largo Physical Vanadium Validates its Unique Leasing Model with 48 MWh Flow Battery Electrolyte Lease; Storion Energy–TerraFlow Energy Supply Agreement Supports Growth

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TORONTO, July 16, 2025 (GLOBE NEWSWIRE) — Largo Physical Vanadium Corp. (“LPV” or the “Company“) (TSX.V: VAND) (OTCQX: VANAF) is pleased to highlight Storion Energy LLC’s (“Storion”) recently announced strategic supply agreement with TerraFlow Energy Operating LLC (“TerraFlow”), as well as the vanadium electrolyte lease agreement between Storion and the customer of TerraFlow’s 9.6 MW, 5-hour flow battery project in Bellville, Texas, which will be one of the largest deployments of its kind in the U.S. Through the lease agreement, LPV’s unique vanadium leasing platform will directly support this milestone flow battery project while positioning LPV to supply future Storion long-duration energy storage projects. Further implementation of projects is expected to increase storage fee revenue and reduce vanadium storage costs.

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Storion, which manages LPV’s physical vanadium holdings as safekeeper, is 50% owned by Largo Clean Energy Corp., a wholly owned subsidiary of Largo Inc. (TSX/NASDAQ: LGO), which also holds a 65.7% interest in LPV. Through Storion’s new supply agreement with TerraFlow, Storion will leverage its production of high-quality vanadium electrolyte and power assembly stacks to support TerraFlow’s flow battery systems. The supply agreement is anticipated to support growing market demand for safe, scalable, long-duration energy storage solutions in the U.S.

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Bellville 48 MWh Flow Battery Project Further Validates LPV’s Unique Vanadium Leasing Model

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As the first project between TerraFlow and Storion, TerraFlow’s flow battery customer has entered into a vanadium electrolyte lease agreement with Storion for the Bellville flow battery project. In accordance with LPV’s safekeeping agreement with Storion, Storion acts as safekeeper of LPV’s held vanadium and may convert it to electrolyte to supply to vanadium flow battery customers. For the Bellville project, use of LPV’s vanadium removes the need to purchase vanadium outright and thereby significantly lowers upfront capital requirements, helping make vanadium flow batteries more cost-competitive and accelerating their broader commercialization.

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LPV expects the electrolyte lease to commence in early 2027, when the electrolyte is deployed and the project is expected to reach initial energization. Leading up until the deployment, LPV expects its cost of storing vanadium to decrease as vanadium is removed from storage, reducing costs while unlocking future revenue streams.

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Francesco D’Alessio, CEO of LPV, commented: “The lease agreement for the Bellville flow battery project is a clear example of our business model in action: transforming our physical vanadium into a revenue-generating asset that lowers upfront battery costs and supports large-scale adoption of safe, long-duration storage.” He continued: “In collaboration with Storion, the Bellville flow battery project highlights LPV’s ability to deliver tangible shareholder value from its physical vanadium holdings while directly supporting the need for U.S. energy resilience. The Company expects the strategic supply agreement between Storion and TerraFlow to drive future deployments, creating additional demand for LPV’s leased vanadium and supporting the wider adoption of long-duration energy storage solutions.”