An energy-storage technology survey at Oil Drum:

[phantom power]

It includes a discussion of that graphite storage thingy. I thought this bit on VR was interesting:

King Island received a lot of press attention for an earlier project to store energy using Vanadium Redox flow batteries that began in 2003. The company involved in that initiative, Pinnacle VRB, has since changed name to Cougar Energy and doesn't seem to have any active VRB projects going. Another Australian company developing a slightly different form of Vanadium based batteries (Vanadium Bromide) is VFuel, though there hasn't been much news from them in some time either. Both VFuel and Pinnacle/Cougar are using technology pioneered at the University of NSW.

http://anz.theoildrum.com/node/3608