Market reception to this news today is ‘cold shoulder’ with barely 2.8m (edit; now just under 4.5m!!) shares traded so far today - the lowest volume in weeks, and the price staggering around at 1.55c.
No instant gratification on this one.
And I wonder what our overseas-based ‘re-sell’ partners like Invinity and Cell Cube think about AVL aiming to sell its’ own battery rather than theirs?
Invinity still has not formally released its’ new Mistral battery which was targeting sales in Australia per its September announcement, and already has factories in both Canada and the UK https://markets.ft.com/data/announce/full?dockey=1323-16652656-26E7H1AVQIR95N1NN5QQVNLVSM mistral .. Commercial Positioning
The market for Long Duration Energy Storage ("LDES") continues to develop favourably for the Company as alternative battery technologies and domestic supply chains become an increasing priority for decision makers in the UK, EU, North America and Australia.
ouch?
And Lumina is aiming at a 40 year life whereas Mistral appears to be targeting ‘at least 25 years’.
What about the supply deal that AVL is hoping to expand with WA Energy provider, Horizon?
- Will it be waiting for Lumina to go into production or buy another Invinity battery for its’ next installation?
And no mention in this announcement of North Harbour Clean Energy from whom the VSun executive general manager, Stephanie Banning, was (possibly) poached earlier this year, and with whom AVL has had an MOU [ MOU for collaboration on development and installation of vanadium redox flow battery (VRFB) projects and vanadium electrolyte supply] Since May 26, 2022.
Given the powerful and well connected board there, I think it’s in our interests to stay mates but what about its proposed battery installation with CellCube?
Maybe the market needs a bit more clarity on how AVL intends Lumina to fit with previous agreements and ‘friends’ as well as that June ‘25 quarter timeline and the fact it’s shaping up to be competitive with current Li-ion big batteries.
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