With us today is Frank C. Smeenk President & Chief Executive Officer of KWG Resources Inc. Mr. Smeenk discusses recent conversation with Noront Resources after proposed acquisition of Cliffs Chromite was announced.
The thing to remember about these projects is they are pilot projects, if they are successfull which we assume they will be then each of these utilities will be ordering multiple units. Electrovaya states they are talking to many utilities all over the world. When you consider that 10 of these containers is the equivalent of 12,000 vehicles you can see why they are so excited. I believe the profit margins are higher with grid storage as well.