Stina Resources Ltd. ("Stina" or the "Company") (CSE: SQA) (OTCQB: STNUF) (Frankfurt: OIX) - a global leader in vanadium resources and energy storage technology systems, is pleased to announce that it has changed its name to CELLCUBE ENERGY STORAGE SYSTEMS INC. The common shares of the Company will commence trading on the Canadian Securities Exchange ("CSE") under the new symbol "CUBE" effective on or about Thursday, May 17, 2018.
Stina's name change reflects the Company's new strategic focus on full vertical integration in the energy sector. From vanadium exploration and production through to the manufacturing and sale of vanadium redox flow batteries, marks a new chapter in the Company's growth and broader energy driven commitment including its expertise in driving the innovation needed to shape the future of the energy storage industry.
There are currently over 100 CellCube batteries in use globally. CellCube vanadium redox flow batteries ("VFB") are used for a variety of purposes including grid storage; microgrids; off-grid storage for solar and wind power; diesel power replacement; back-up power systems; farming applications; electrical vehicle charging stations; industrial plants and office building applications; and emergency power sources.
The patented CellCube battery, the most commonly installed VFB in the world, developed by Gildemeister Energy Storage GmbH ("Gildemeister") was recently acquired by the Company. The patented CellCube battery amongst all other assets acquired from Gildemeister will now operate under the Company's Austrian subsidiary Enerox GmbH.
Storage markets are estimated to reach 40 GW by 2030 according to Bloomberg New Energy Finance's research, and are estimated to spend over $100 billion in the ramp up phase over the same time period following the same rapid rise of solar installations occurring from 2000 to 2015.
"2018 marks an important point in the evolution of the Stina organization. This new name change will allow us to better emphasize our target driven sales and continue our healthy growth," stated Mr. Brian Stecyk, President and CEO.