Copyright © 2026 Knight Sac Media. All rights reserved.https://www.siliconinvestor.com/subject.aspx?subjectid=55454VRB Power Systems – Initiating Coverage with a Speculative BUY Recommendation, $1.75 Target Price, Recommendation by Russell Stanley of Loewen, Ondaatje, McCutcheon Limited, December 22, 2004 vrbpower.com Analyst Report We are initiating coverage with a Speculative BUY recommendation and a $1.75 target price. A detailed report on VRB Power Systems Inc. will follow shortly. Summary VRB Power Systems Inc. is the only provider of a full range of energy storage products for utilities and end users. VRB has commercialized the Vanadium Redox Battery Energy Storage System (VRB-ESS), a high capacity energy storage system ideal for applications between 5kW and 10MW. The company has also acquired the intellectual property rights and assets to the Regenesys Energy Storage System (RGN-ESS), which is designed for larger applications in the 10MW-100MW range. These systems allow users to store electricity in the form of electrochemical energy for later use. Target markets for these systems include: *• Utilities *• Commercial Buildings & Production Facilities * Electricity Market Trading * Telecommunications & Cellular Sites *• Renewable Resource Generation *• Remote Area Power Supply (RAPS) The demand for energy storage is expected to be significant in the years ahead due to the deregulation of electricity markets, the need for renewable energy resources, and concerns about energy security. Perhaps most importantly for VRB Power Systems, the market for energy storage should be substantial with or without widespread adoption of renewable power systems.https://www.siliconinvestor.com/images/Logo380x132.pnghttps://www.siliconinvestor.com/subject.aspx?subjectid=5545438013210