Energy Storage Pillar So far the energy storage pillar has cost Largo US$59.2M (not counting finance costs) with another 7M to 9M forecasted for 2024. Since its inception in 2021, LCE has completed 1 VRFB sale of which the associated revenue has yet to be recognized. There is no new sale contract on the horizon.
With the mining operations struggling to survive, the strategy of using one pillar to support the other is unsustainable. If Largo can’t find a JV partner soon then it's time to get rid of LCE and LPV all together.
US$
| | 2021 | 2022 | 2023 | To-Date | 2024 Guidance | Note |
| LCE | 10.2M | 26.7M | 19.3M | 56.2M | 7M to 9M | Excl Finance Costs |
| LPV | - | 2.0M | 1.0M | 3.0M | N/A | Excl Finance Costs |
| Total | 10.2M | 28.7M | 20.3M | 59.2M | 7M to 9M | Excl Finance Costs |
