As per the industry estimates, the global vanadium redox flow battery (VRFB) manufacturing market is on the verge of robust growth between 2025 and 2030 at a compound annual growth rate (CAGR) of approximately 20-25%. This growth is driven by increasing demand for large-scale energy storage solutions by diverse sectors to support renewable energy integration and grid stability. The Asia-Pacific region is expected to dominate both production and deployment backed by government incentives.
In a significant move to further strengthen this growth in Indian market, VFlowTech, a leader in long-duration energy storage solutions, has entered into a strategic collaboration with the Foundation for Innovation and Technology Transfer (FITT) – the industry interface of the Indian Institute of Technology Delhi (IIT Delhi) – to research into recovering high-purity vanadium from petroleum coke (petcoke) cinder, a by-product generated from India’s vast refining industry.
The initiative aims to establish India’s first circular vanadium ecosystem, converting refinery waste into battery-grade vanadium pentoxide (V₂O₅) – a critical material used in next-generation long-duration batteries that support grid stability and renewable energy deployment. This partnership sets the course for a circular, self-reliant vanadium ecosystem – one that turns waste into value, strengthens the domestic supply chain, and accelerates India’s energy transition. Backed by its recent USD 20 million Series A+ funding, VFlowTech is investing in India’s clean energy future by advancing local research and development capabilities, and supporting a ‘Made-in-India’ vanadium value chain for vanadium redox flow batteries (VRFBs).
“India’s refinery scale presents a unique opportunity to build a homegrown vanadium ecosystem. By repurposing waste into battery materials, we’re addressing energy security and industrial sustainability in one step,” said Dr. Avishek Kumar, Co-Founder and CEO of VFlowTech.
“We are delighted to be a part of this transformative initiative. By establishing India’s first circular vanadium ecosystem, we aim to support the vision of creating renewable energy capacity of 500 GW by 2030. This partnership will further take India’s clean energy transition to newer heights by strengthening the domestic supply chain ecosystem,” said Professor Anil Verma, Department of Chemical Engineering, IIT Delhi.
India added a record 29.52 GW of renewable energy in FY 2024-2025, with total capacity reaching 220.10 GW, according to the Ministry of New & Renewable Energy (MNRE)—putting the country on track to meet 500 GW of non-fossil fuel capacity by 2030 under PM Modi’s ‘Panchamrit’ pledge. India is also one of the world’s largest oil refiners, but currently imports most of its vanadium, leaving a gap in energy storage supply chains. The waste from the refineries produces large amounts of petcoke cinder, which contains significant vanadium content. This collaboration will fill that gap by extracting vanadium domestically from petcoke waste, advancing both economic and environmental sustainability.
VFlowTech is revolutionising energy storage with its next-gen Vanadium Redox Flow Battery (VRFB) system, known as PowerCubes, which are designed for high-efficiency, long-duration storage. Unlike conventional batteries, PowerCubes boast a compact Power Stack design, maximising energy density while minimising space usage. Their round-trip efficiency surpasses industry standards, ensuring minimal energy loss during storage cycles. Another standout feature is their ability to operate in extreme temperatures exceeding 55°C, making them ideal for tropical climates where lithium batteries struggle.