Ann: Investor presentation - Q2 FY24 Quarterly Results, page-41

Narrative from webcast seems to be:
1. perceived convenient delay in Paskenta fine print aligning with resolution of inj moulding part which will require rapid confidence testing in first units (not admitted in webcast, passing reference to existing testing/confidence of this new in house component). Other contracts I presume wait for new component units to have MTBF figures signed off vis a vis warranty commitmrnt risks.

2. expansion of Thai capacity to 40MW/pa at which point X10 + deep nationalist love sees 50% capex for Oz factory from non dilutionary sources materialise together with mercan factory and from then, profitable global player in LDES grid + industrial + commercial markets, as it was explicitly stated in webcast that >40MW/pa Thailand not favoured now.

I guess funding for Oz/Yank factory will be next watershed after current contracts at PC & commissioned.

If there's capacity for ongoing R&D and commitment to innovative cost down engineering for product improvement then there's a place for ZnBr reflow LDES gridscale installs. Whether Oz retail SHs ultimately end up as beneficiaries remains to be seen. My money's where my hope is.