In the webinar Tim talked about government funding (and how they wish government moved quicker) and referred to decisions being made about building a factory in Oz late this year or at the start of next year.
Tim also referred to the Australian Made Battery Precinct ($100M each from Federal and QLD govt). The QLD
minister for energy has said "Our Buy Queensland procurement approach will require these sort of grid batteries to be sourced locally in Queensland, creating a pipeline of demand for new manufacturers which means more jobs in regional Queensland.” Regarding this initiative Tim said (9:30 mark) "...we look forward to how that's going to crystallise in the coming months". I note there's a QLD election on 26 October 2024.
In the webinar Tim also talked about non-dilative funding expecting to be announced imminently as below (3:40 mark):
"But it's also enabling us to confidently engage with a series of non-investor sources of non-dilative funding that's going to help and enable and accelerate the product development and deliver on our growth strategy. And what I can say is that some of those discussions have advanced significantly over the past few months, and we expect to make some
announcements around that imminently."
Tim may not have billions of dollars currently at his disposal, but to say he no longer has the cash or investor support to make the X10 a reality could be misleading without this important additional information.
(20min delay)