VFlowTech, IIT Delhi Partner to Build Circular Vanadium Supply Chain from Refinery Waste

Singapore-based energy storage company VFlowTech and the Indian Institute of Technology Delhi (IIT Delhi) have signed a Memorandum of Understanding (MoU) to establish India’s first circular supply chain for vanadium, a key metal used in vanadium redox flow batteries (VRFBs).

The collaboration aims to extract vanadium pentoxide (V₂O₅) from petcoke cinder, a by-product of the oil refining process, thereby converting industrial waste into a valuable component for clean energy storage. The project represents a significant step toward India’s energy security goals and a domestic value chain for advanced battery technologies.

“This is not just a lab-scale initiative, it is a commercial blueprint for India’s first circular vanadium ecosystem,” said Dr. Avishek Kumar, CEO of VFlowTech. “With this, we address two major goals: energy security and industrial sustainability.”

Prof. Anil Verma of IIT Delhi’s Department of Chemical Engineering, who is leading the academic side of the partnership, added: “This collaboration is crucial in enabling indigenous battery material production, supporting the 500 GW renewable energy target by 2030.”

India, which currently imports vanadium despite being among the top global oil refiners, stands to benefit from this initiative by reducing reliance on imports and enhancing domestic manufacturing capabilities for energy storage.

VFlowTech recently raised USD 20 million in a Series A+ funding round and is using the capital to scale up its proprietary VRFB technology, branded as PowerCubes. These batteries are known for their high thermal stability, long lifespan of over 25 years, and minimal energy loss, making them ideal for grid-scale and industrial applications, especially in high-temperature regions.

According to government data, India added a record 29.52 GW of renewable energy capacity in FY25, bringing the total installed capacity to over 220 GW. However, large-scale energy storage remains a critical bottleneck. This initiative is expected to contribute meaningfully to closing that gap.