A reminder from the 4C a few weeks ago
Wayne doesn't want to have to go to the market again to raise funds, the last couple have been dismal affairs.
The JV deal with Paradise Textiles is mentioned several times throughout the annual report. Remember they have been officially collaborating since early 2022, and obviously were working together for some time before that. The companies know each other well.
"Both parties are progressing due diligence on one another and will continue to negotiate key commercial terms for the joint venture, with discussions focused on pricing and exclusivity".
Paradise Textiles will need to pay for exclusivity, and funding for scaling the technology will be part of the negotiations.
"would likely include a funding solution".
The potential here is tremendous, just need to get this JV and funding over the line ASAP
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