A vanadium redox battery consists of an assembly of power cells in which two electrolytes are separated by a proton exchange membrane. The electrodes in a VRB cell are carbon based. The most common types are carbon felt, carbon paper, carbon cloth, and graphite felt. 

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The demand structure of vanadium is relatively stable, mainly concentrated in the iron and steel industry, accounting for about 90%, and the others are titanium alloy, chemicals and energy storage batteries.

Energy storage is expected to become a new growth point of vanadium demand.

The vanadium battery connected to the grid is equivalent to the water tank in the water supply system. It stores electricity when the power consumption is low. On the contrary, it discharges when the power consumption is high, which is used for peak shaving.