Ann: E25 HPMSM project selected for US$166M DoE Grant, page-5

Although this up to half reference indicates that is one of the T&C's of the grant so either the grant drops back to US$144.5m (being half of a US$289m capital cost), there's been capital cost increases beyond the US$289m estimate from 2023 Scoping study work (quite likely) or items of phase 2 are brought back within scope of phase 1 increasing the phase 1 capital cost to US$332m.

Overall the funding gap is still massively smaller than it was, but larger than the $8m figure in the earlier post because the grant would appear to be capped at 50% of the overall cost.