Ann: Bankable Feasibility Study for Australian Vanadium Project, page-378

Just picked up a small position, I believe that technologies like VFRB will come to the forth as coal power generation is shutdown in coming years

AEMO predicts that all of the brown coal and 2/3 of the black coal power generation plants will disappear from the grid by 2032, perhaps even quicker depending the outcome of the federal election so something will need to take its place sooner than later in the way of stored power and with lithium having some shortfalls such as the fires last year that caused disruption to the Tesla Battery Projects In Moorabool Victoria and Jamestown South Australia both of which burned for several days before being brought under control shows the volatility of lithium batteries in these storage applications which has the potential to cause serious disruptions to systems that wholly rely on these for power so other “safer” technologies will be sought, such as VRFB’s

As per "The Project" economics look reasonable, with a net present value of $833m, versus a current market cap of $233m, but naturally there is a lot of water to flow under the bridge before they are generating any revenue.