Ann: Quarterly Activities Report, page-53

I agree. Flow batteries will probably take over for stationary applications. They are big and heavy and require pumps but their useful life is at least twice as long and they have virtually no degradation. Lithium utility scale batteries can support fewer cycles and generally have to be replaced after 10 years, but the flow battery round trip efficiency isn't as good as lithium either, so there are pros and cons for both technologies. Lithium will still be king for mobile applications, like electronic devices and electric vehicles, so I can't see a problem there.