Ann: Fluence Placement to Institutional Investors and SPP, page-25

they had to raise now. Working capital required to ramp production of MABR is absolutely crucial. This way they remain ahead of the curve and can deliver on the promise of fast delivery and installation.
Debt funding is not the answer for the CES business. That Generate Capital facility will be at stupid rates and anyway, who wants a debt profile against a turnkey project in the Ivory Coast..one delay or disruption and you get a massive blowout.
This company must accelerate top line growth and a capital injection is the driver to do it. Switching their sales strategies to partnerships in China is a better idea and could deliver big time. But there’s no point doing deals with the Chinese then saying sorry, that’ll be 6 months before we can ramp production to deliver.
The BOOT projects are OK but there’s capital going in to them now which can’t be recycled until they’re delivered. San Quinton still not started?
I’m happy to be kicking in capital to help deliver growth. That’s why equity markets exist!