The following is a detailed introduction to the major companies in the global flow battery field, covering core players in Europe, the United States, Japan, South Korea, and China, including technology routes, market positioning, and key operating data:

Comparison table of major global flow battery companies

In-depth analysis of regional competition landscape

1.  Chinese companies: vertical integration crushes

Capacity control: Dalian Rongke + Beijing Puneng account for 70% of the global vanadium liquid flow battery production capacity, and the combined shipment volume will reach 1.2GWh in 2023

Cost advantage: Relying on the raw material support of Vanadium Titanium Co., Ltd., the cost of electrolyte is 40% lower than that in Europe and the United States

Policy support: enjoy 15% corporate income tax exemption and equipment purchase subsidy (up to 5 million yuan/project)

2. European and American companies: Breakthrough through technological differentiation

Technical route: ESS focuses on the iron-chromium system to avoid dependence on vanadium resources, and Form Energy innovates the iron-air route to achieve ultra-low cost

Capital operation: ESS raised $250 million through SPAC listing, Form Energy received investment from top institutions such as Breakthrough Energy

Scenario innovation: Invinity develops an "energy storage as a service" model, allowing users to enjoy peak-valley electricity price arbitrage without purchasing equipment

3. Japanese and Korean companies: Focus on technology exports

Patent layout: Sumitomo Electric holds 387 core patents for liquid flow batteries and charges Chinese manufacturers a licensing fee of US$5 per kWh

Local application: Japan revised the Energy Storage Technology Roadmap in 2023, requiring flow batteries to account for 30% of long-term energy storage installed capacity by 2030

Key data insights

Cost reduction curve: The cost of all-vanadium liquid flow battery system has dropped from 600/kWh in 2018 to 600/kWh in 2023 to 350/kWh in 2023, a decrease of 42%.

Capacity expansion speed: China's new flow battery capacity will reach 2.4GWh in 2023, exceeding the total of other regions in the world

Resource control: China controls 67% of the world's vanadium production. The U.S. Department of Energy has included vanadium in the "critical minerals list" to restrict exports.

Future competition focus

Convergence of technical routes: Cost balance point of all-vanadium system vs. iron-based system (current critical value: energy storage time > 8 hours, iron-based system is dominant)

Standard-setting power: the game between the IEC flow battery standard (TC 21) led by China and the UL certification system in Europe and the United States

Resource competition: Global vanadium trading volume surges 230% in 2023, and the United States accelerates the development of Alaska vanadium mines (estimated reserves of 4.5 million tons)

The essence of global competition in the flow battery industry is a three-dimensional contest between technology route selection, resource control capabilities and business ecosystem construction. In this competition that determines the future energy storage landscape, no single player can dominate the market, but companies with a complete industrial chain and scenario implementation capabilities have already gained a first-mover advantage.