There's been independent papers going around for the better...

There's been independent papers going around for the better part of 10 years suggesting CAGR in VRFB that would support a V boom. hasn't happened to date....why? high V price does not support a VRFB industry.

I'm not saying VRFB won't find it's place in the storage stack, I'm simply saying it will be a slow burn. just because there's a bit of research suggesting that, doesn't mean it happens. a lot of variables in the CAGR assumptions.

look at the macro....the world will be burning in 18 mths time and recessions aren't fun. jobs are lost, business capex is delayed and the best laid forecasts turn to shit.....most important point is that Capex is delayed. businesses don't invest in a recession. last time I checked installation of a VRFB is Capex.

I suspect not one of you has ever crunched a number on the cost of a VRFB and if you did, you'd see V price will drive the uptake. low V price, maybe those CAGR are achievable. that also means more mines which then comes back to margins and being a lowest cost producer. high cost of V, throw the forecast VRFB uptake out the window as it simply doesn't stake up.