LCE’s 2nd battery sale?
Vanadium represents 1 ⁄ 3 of the costs of a VRFB. Vanadium is dirt cheap right now and LCE can not make a second sale?
Invinity seems to be the only utility-grade energy storage manufacturer outside of China having substantial sales with about 65+ MWh deployed & contracted and about 911MWh in the pipeline (2023 data).
Imagine Largo/Enel 6.1MWh is considered the largest VRFB at a solar farm in Europe. The VRFB market outside of China is expanding at a slow rate while the prices of V2O5 are almost at historical low?
By now we all know that Largo’s plan to deploy 40MWh by 2022 was just an empty promise. I expect that the company’s goal of achieving 1,400MWh in 2025 is nothing but another pipe dream. The fact that Largo doesn't bother to update that unrealizable fantasy is troubling. Management could not care less about keeping the shareholders well informed. That may also explain why they have no skin in the game. Sad!
DYODD