Province board of Directors believe that climate change represents the biggest threat to the global ecosystem in the 21st Century.
Chairman David Frances (who will assume the role of Managing Director) commented on the recent HyEnergy Project acquisition that he is very pleased to be involved in a Company with a vision to address the decarbonisation of the global economy “This is the other side of the decarbonisation coin – while some environmentally conscious Companies are addressing the electrification of transport and storage of renewable energy, Province is aiming to address the decarbonisation of heavy transport and industry through the production of zero carbon hydrogen products.”
In October 2018, the Intergovernmental Panel on Climate Change (IPCC) reported global temperatures have already increased by 1 °C and that the 1.5 °C limit will be breached by 2030. By 2050, 85% of energy must come from renewable sources to keep the temperature rise below 2 °C. The IPCC recognise that electricity storage is the key third leg to a successful renewable energy strategy.
Storing energy allows renewables to supply more power at the time that customers require energy. Vanadium Batteries offer one of the best solutions for energy storage. The largest battery in the world is a 200MW Vanadium Battery under construction in China. Vanadium batteries have a long life of over twenty years without losing capacity and without the risk of thermal run-away. Furthermore, Vanadium is 100% recyclable making it the only energy material we use but do not consume.
Province intends to build a project where under a complete Life Cycles Analysis of the Vanadium, ‘cradle to cradle’, it has the lowest emissions footprint possible. Amongst other initiatives, the Company has committed to the Science Based Targets Call to Action to set emissions targets in line with the level of decarbonization required to keep global temperature increase below 2°C.
Please see our Science Based Target Commitment Letter here.
Province believes that working anywhere requires significant input and knowledge from the local and greater community. It is our hope to provide a strong net benefit to the people of Österlen and Skåne from an environmental, social and fiscal perspective. It is our intention to continuously consult with all stakeholders to ensure we have the best possible impact on the environment and stakeholders in the areas in which we operate.
Our vision is to:
Have a low impact quarry with large scale regional benefits
Ensure strong financial benefits to landholders and the region
Have a share of the profits to be directly controlled by and invested in the community
Give preference to local suppliers
Be part of a green and sustainable Skåne
We are committed to a fair deal for landowners and will buy or lease land at a premium to the market value. The benefit to the community will come from the Community Fund, controlled by community representatives and financed by a share of the profits from vanadium production. Furthermore, our future business will be a source of year-round employment in skilled technical, mechanical, administration and other fields.
Rolling restoration will keep the active footprint small (~500m x 500m), smaller than many active quarries in Skåne. The quarry will use Invisible Mine principals including environmental bunds and tree planting to limit the external impact.
The clay host of the Dictyonema Formation should allow processing that produces a clean waste that can be used in restoration. Examples from around the world show how land used for quarrying can be returned to agricultural use, nature reserves, parks or fishing lakes.