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So basically ceo and team are saying “We’re going to build the next version of this thing, except we don’t know how the previous version performed”. Which basically means they’ve got to come up with something completely from scratch. You’d think he might have checked up on how C5 performed after being ceo for few months.

I think either he does know how it performed and it was so badly that they don’t want to publish the data, or he genuinely doesn’t know and hasn’t bother to check before spruiking the “business case” for ceto 6 and its revolutionary new development pathway to shareholders (which if thats the case just makes ceo an idiot/incompetent). (Side note, they only just discovered computer modelling? Really?? And all this computer model is going to give us is what, a preliminary design, not a prototype ready to build, a preliminary, virtual design).

Its the same board and ceo. They couldnt get it right the last time (or the time before that, or the time before that..), so there’s no reason a paltry 5 to 10 mil is going to provide them the means to get it right this time (especially given the ceo was already at the company under the past one). If it was a completely new board and new ceo then maybe they could do something with it.

So there you have it, a board and management who have track record of not being able to get projects off the ground, spruiking ceto 6 which is in fact going to be completely different based on the fact that they apparently don’t know if c5 worked (if they don’t know they can’t learn from it).

If there is any IP of value, it belongs in the hands of a university or a much bigger company with spare capital to allocate to R&D, not this bunch of goons (remember, they struggled to build a 10MW solar farm, in the middle of the renewables boom, and we think they can develop state of the art wave generation? Not likely).

Just my 2 cs.

Tc