RE:RE:RE:RE:RE:battery contract
To give further context, on the battery day conference, they said their projections for LCE sales were:
2022: 40 MWh (= about 840,000 lbs. Vanadium).
2023: 180 MWh (= about 3,780,000 lbs. Vanadium)
2024: 460 MWh (= about 9,660,000 lbs. Vanadium)
2025: 920 MWh (= about 19,230,000 lbs. Vanadium)
2026: 1,400 MWh (= about 29,400,000 lbs. Vanadium)
On the conference call, they said that Vanadium requirements for 1,400 MWh of sales in 2026 would approximately equal to their present-day production. That appears about right, since 2020 Vanadium production was 26,069,631 lbs.
Since LCE represents additional demand, they also said on the call that they were increasing their output.
They also said that Capex for LCE should be $3.8 million next year, $4.8 million in 2023, and a total of $35 million over the five-year period.