Opening remarks by former New York Governor George Pataki at the signing of the Joint Venture agreement between Margaret Lake Diamonds Inc. (TSX.V: DIA) (FSE: M85) and KORID Energy Co. Inc, a subsidiary of DST Inc. (KOSDAQ: 033430) for the development of a Vanadium Flow Battery Factory. Jared Lazerson, CEO of Margaret Lake and, Paul Kim Chairman of DST Group represented the Companies. The flow battery is designed to pump an electrolyte through a cell from a tank, the capacity is determined by the number of cells and the size of the tanks. These batteries and energy storage systems are designed for commercial, industrial and utility scale energy storage. At the utility scale these batteries will be able to replace the need for additional transmission lines and power plants. By charging at night when power is wasted and releasing it to a localized grid, such as a metropolitan area during the peak daytime working hours, the same infrastructure is used more efficiently and additional power and provides redundancy as well as a smooth integration in the transition to stable renewable energy. John Kerry, former Secretary of Energy of the State of Maine, introduces, Gov. Pataki. …...more
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