Management must come clean island9999 wrote: High time we heard something regarding battery news from LCE,seems like the business is in a coma..
Coma? Coma is an understatement.
On July 20th 2021, Largo announced its First Battery Sales Contract with Enel Green Power Espaa for a VCHARGE± System:
TORONTO--(BUSINESS WIRE)-- Largo Resources Ltd. ("Largo" or the "Company") (TSX: LGO) (NASDAQ: LGO) is pleased to announce that Largo Clean Energy Corp. (“LCE”) has entered into its first VCHARGE± vanadium redox flow battery (“VRFB”) system sales contract with Enel Green Power Espaa (“EGPE”). Under the contract, LCE is obligated to deliver a 5 hour 6.1 MWh VCHARGE± system for a project in Spain
A year later, “we're ramping the electrolyte production around the delivery of the Enel project” said Stephen Prince, President of Clean Energy Division.
A 5-hour 6.1 MWH (megawatt hours) is a tiny tiny tiny system and there is still no specific delivery date to be expected except a vague sometime in Q4 2022.
Remember the Battery Day management expectation of capturing 3% or about 1,400 megawatt-hours of the long-duration energy storage battery market by 2025?
1,400 MWH = 230 x our first Enel 6.1 MWH project. How long would it take for LCE to deliver 1,400 MWH?
It’s high-time for management to come clean and tell us whether or not the goal of selling 1,400 MGH by 2025 is still feasible. It does look like this is another over-promise, doesn’t it?