They will do both. Clearly the V price will be a major headwind...

They will do both. Clearly the V price will be a major headwind for VFRB but the supply side will come to the party eventually and shortages of Co, Li, V and graphite will impact the other choices.

Robert Freidland is forecasting 1,000 GW of energy storage by 2050. 1,000 GW!! If only 30% of this was addressed by VFRB that would be the equivalent of over 1,000 years of annual V production at 100,000tpa (currently only 80,000).

Something has to give and I'm afraid it's going to be the V price in the short term (5 years) he he