I think the reality of the situation is that vanadium is...

I think the reality of the situation is that vanadium is essential for safe and economic BESS at scale. I don't need to preach to the choir here, we all know. However, it is a question of timing. Look at bushveld, only making like circa 16m from their latest financial results. Simply put, the lithium "aha" moment hasn't happen. That is probably a few years yet so traction needs to start now. However you can see the parallels with electrification, poor policy, burgeoning demand whilst chronically underfunding. I have spoken previously on price capture mechanisms and opacity in the market which needs to come. Whilst this sounds negative trust me it is not, the deficit will come and the underfunding will propel projects. Take into account unstable jurisdictions too (both esg and sovereign/war risk). Onto the demand side.

So where does this traction come from? Ignoring steel demand (which also is affected by jurisdictional risk) lets just look at some near term Australian prospects. From AVLs perspective the water corp and more so the IGO 300kwh battery at nova are bigger drivers than people realise. I alluded to a nice connection here. Zenith energy built the power plants for igo nova. Zenith energy just scored the hybrid powerplant deal for LTR to supply circa 53mwh, including circa 19mwh pv array linked to a 17mwh bess. Aha, interesting no? I'll leave the nitty gritty for you all to summise. I realise I should included a quantitative measure but this is purely to loft an idea, thought process and get some neurons firing. So demand will be realised by these projects as just the beginning and marketing and networking pushed by the vertically integrated businesses will escalate this into future. They will bring opacity and demand to the market.

This is why I remain bullish on V. I still think we are a little way off in general however. Exciting times. Thanks for the insights Rhys!

Ps typing on phones sucks!