....“We saw a few years ago, 1% of annual production of vanadium...

....“We saw a few years ago, 1% of annual production of vanadium went into batteries. It was reported in 2023, about 10% of the annual production of vanadium went into batteries,” Woodcock adds.

.“And the forecasts we’ve seen put out by the likes of Guidehouse Insights and TTP Squared, — companies that put out information on the forecast of the commodity growth — are (expecting) anywhere between a 50% and 100% increase in the amount of vanadium required annually, probably by the end of this decade or into the early 2030s. So that uptake of the requirement for the vanadium redox flow batteries is probably going to be a big driver.”..