I quite agree the lead time may be long. We are in the...

I quite agree the lead time may be long. We are in the development stage so right now it's about opportunities and exposure. Opening up doors. As with any new business the opportunities often come from left field. For example a major that wants a foot in the door for renewable energy at a time that AVL is getting well known. I doubt they will do it without a domestic product and that's what I would be looking for over the next year.

I have no doubt flow batteries will be more viable than Lithium for non mobile storage. Where I have doubts is that Vanadium will have the market to itself or even be the pick of the technologies for flow batteries.

A long way to go and I don't see the steel sector as a saviour. AVL is cheap and cheap for a reason. This is the start of a long journey and it's management that hold the key whether that will be a successful journey or not. So far, they are going about things perfectly imo.