Ann: Calix Newsletter May 2024, page-4

I think they can do both. Transitioning various development streams into industrial processes and building the next vertical technologies.
They are using a lot of partner money in the capital light model and if you have ever been involved in engineering process plants, you would see that they are pretty efficient at designing and implementing the pilots and pre-production units such as Leilac 1, 2 and the Lithium calciner. A lot of the time the whole process takes is in getting FEED and FID through, and the partner site set up for construction including permits. Then there is the procurement and material ordering before any construction can start. Getting the whole thing done is planned in terms of many months.