Ann: JV to progress graphene oxide technology development, page-53

Strictly speculation on my part, but some of the existing water projects may have been delayed, pending positive developments on graphene/Ionic technology.

What I mean is that CLQ may have been in a position where they said, "We can do X and Y and Z for sure at costs C. But we may be able to add process Q and R and S using new graphene tech at costs of C/1, we need a few months to be sure and we will be able to add the new stuff in once we test it."

One other thing, the timing of the JV is on guidance timing hinted at previously by CLQ.

The existing HOYO contract, last I heard, was pending Chinese design approval;my guess is that the new graphene applications will be easily integrated in flow processes. But those wanting updates on existing contracts are best off contacting CLQ Water for updates.

Based on the Ionic JV, I would expect major project announcements on public water processing within the next six months.