Investor Call 9 August 2024, page-50

I think a key hidden catalyst for de-risking of FBR and a potential re-rating of FBR stock could be a negotiated deal on an offtake agreements with a large prominent builder like DR Horton.

Similar to what we had with The Kingdom of Saudi Arabia and that Mexican builder, some time back, except contracting for building work for HX in Florida.
This would be a clear sign of intent by a large builder to actually adopt the HX and integrate it into their building processes.

All I know is it would be in the best interest of a large builder to get in early to lock up supply of HX units as they enter the market in Florida.
The builder secures a cost and other benefit advantage of using the HX ahead of their competitors.
FBR secures a commitment from a large builder to keep the HX fully utilized on arrival into Florida. FBR also secures favorable terms (i.e. high Gross Margin) by offering a builder a level of exclusivity.

To be honest, I'm a bit surprised at the muted share price reaction after Mark really layed out their plan during this preso this morning. I suppose common sense is just not so common after all.

Not investment advice. DYOR, etc etc.