Ann: Company Update, page-91

All the negative talk we see about the webinar fails to recognise the facts as they unfold. This is not a world here a magician just pops a deal out of a hat. A company like ADO has to do two things; firstly, have technology that works; and secondly tick the boxes that reduce risk from the mega companies' perspective to such an extent that they would like to partner with ADO. This is not an overnight task. So it is important to be aware of each risk box as it is ticked off.

Semi has identified one important risk that has hung over ADO for sometime, which is ADO's IP and its integrity. Hopefully this will be squared away soon.

Other risks are more practical They include:

• Performance - the improvements in performance are now well outlined both with lower and higher Si content;
• Cost - a significant cost saving is evident;
• Product Resilience (cycles) - the standard is demonstrated to be high enough for mega coys to engage - ADO still needs to better the Gold standards which it has shown that it is almost there - note no other company has demonstrated an ability to work with 20% Si let alone 70%;
• Ability to manufacture anodes with AnteoX - This is a very important risk box essential for the adoption of ADO technology - since the first research into use in batteries ADO has always put forward that adoption did not require reworking existing plants (unlike other technologies that require major reworking) - ADO ticked off this vital box in its announcement last December.
• Anodes manufactured with AnteoX function - this is being trialed by a large EV coy now. Early indications reported by David are that all is going well and performance in hands of them is the same as at ADO.
• ADO can manufacture AnteoX at scale
• AnteoX must have a plant that is scalable - the pilot plant is now completed.
• Plant must be operational - commissioning is under way.
• ADO will be around in years to come - the various grants David discussed will demonstrate to 3rd parties independent government support for ADO reducing this risk.

David set out very clearly that progress is being made and that its is consistently happening.

Once these risks are resolved only then will a mega company sign up. Some have already splurged many millions on companies with big promises they have not achieved.

For those of you who are of the 'rabbit out of a hat' mentality sell out now and then there will only be those with constructive comment both positive and negative who understand the program and can properly assess ADO.