I'm more hopeful than convinced, as much as I want them to...

I'm more hopeful than convinced, as much as I want them to succeed. Like you I've been in (and some out) a while - since 2015.

The product seems to be a good fit with the markets they are targetting, especially telco. The Gen 3 battery should deliver lower cost manufacture and improved reliability. If they can get a large install like the 1000+ order mentioned, that would get the manufacturing line operating at a consistent and profitable rate, at least for a few months. The more they sell, the more manufacturing costs will benefit from economies of scale, and they'll be able to get lower costs for components such as the controller electronics board and electrolyte. That will allow them to sell at a lower price if necessary to get sales while still being profitable - a virtuous cycle if they can do it. It looks like they'll be able to make the Gen 3 battery for less than half what it cost to have the current battery made by Flex in Mexico, which puts them in as good a shape as they've been in years.

There's one other wildcard that could be a company maker - the Chinese demonstration installation turning into business, but not holding my breath on that one.

I hope they get a good uptake on the entitlement issue. (I actually wonder if they've arranged the timing so you can sell all of your shares this financial year, and replace them all next financial year with entitlement shares for the same cost and hopefully not run foul of ATO wash sale rules ).