Ann: Letter to Shareholders Regarding Consolidation, page-25

You mean take up the research project with outgoings of a listed company?
Gamble that model is correct gamble that morrings anchors and tensioners work at scale

What exactly is a major in Europe going to get ATM?

There are several research programs worldwide looking at wave energy and a research project and there are others that are actually just installing their technology and getting real life data in real world circumstances. Unless CCE can produce some extrordinary data and reason showing longer durability and better cost curve why woudl a " major in Europe" take on CCE and fund them?

Not taking the piss at all. It is 2-3 years until next stage in Europe project while others are moving and other technology is being refined in field with real data on output costs and reliability so that creates a huge hurdle and CCE will need compelling reason for anyone to be party to scale up and install with deep pockets and a very long view?

Meanwhile a barge may be launched and hopefully be a sucess and not sure of retrofit possibilities otherwise it will rely new builds?
What exactly is the scale of any licensing? Exactly what are they licensing? I had hope that codeveloped tensioner cables etc may also be suitable oil and gas etc but nothing yet?