g24i, page-3

G24i are a private company, so there is little disclosure of their size. They have, however, had two significant cash injections in the time I have watched them. Totalling $50m (I think US) see here
http://www.g24i.com/press,g24i-announces-2nd-major-investment-of-the-summer,116.html


They are a startup though, not a big global like Corus. The main guy is a former speaker in california who after being knocked back for higher office (I think governor) and being frustrated at how opressive the US were to green companies decided to start his up overseas, somewhere that wanted to get in on it. I think Wales wants to be to green tech what Ireland was to IT. The other important thing about him is that he wants a company and a product that is worthy in its own right, not one that needs any govt subsidy, because having been in govt he knows how quickly they can come and go.

On DYE and G24i, it is important to note they are not a partnership. I think G24i prefer to go it alone and DYE prefer bigger partners, so they have a basic supplier relationship where DYE has been manufacturing and supplying research and test run sized orders for them. We recently were told (in a DYE presentation) that G24i are looking to place their first commercial scale order for 200kg, worth between $20-$30m AUD and that DYE had bid on the order. I have seen no word on the progress of this order, who else might be bidding or when G24i might decide. So this is the peice of news I am looking for from them, our shiny new facility is capable of 200kg a year coincidently and if G24i can work it to capacity then we can stop worrying about cash burn while waiting for Corus.