| Vanadium's Ascension in the Global Energy Landscape Excerpt
China has solidified its status as a vanadium flow battery powerhouse, initiating several massive projects including Detai Energy's 1GW VRFB Manufacturing Base, 2GWh Vanadium Electrolyte Production by China Resources, and landmark energy storage demonstration projects in Sichuan, Lanzhou, Suzhou, and Xichang. It is important to note that every GWh of vanadium flow battery deployment represents approximately 4% of additional global vanadium demand. The agreements signed by various Chinese provinces and companies for the shared energy storage power station projects and vanadium battery production projects demonstrate a significant investment in the building of a solid vanadium infrastructure. Commercialization and technical advancements in vanadium flow batteries have allowed for increased global expansion of the technology as highlighted by Shanghai Electric sending its first batch of customized vanadium redox flow batteries to Europe. In addition, various milestones from QEM, PNNL, Sumitomo Electric, and VoltStorage all reflect increased innovation and globalization of flow battery technology to further align with the push for integrated clean energy. Finally, it's important to mention the broader political context, where China is taking a trade fight to Europe. As vanadium becomes increasingly central to the global energy landscape, its role in international relations and economic policy cannot be overlooked. We at Largo Physical Vanadium are committed to capitalizing on these trends and playing a pivotal role in the development of this vibrant ecosystem. I would like to extend our continued appreciation to our all stakeholders who are on this exciting journey with us. The future of vanadium is bright, and together we are shaping it. |