Just to add further, there was a figure stated in the Annual...

Just to add further, there was a figure stated in the Annual report that had me scratching my head. I know that Fletcher Insulation is a big provider of insulation especially pink batts etc, but it was this that made me wonder:

In the FY20 Full Year Results accompanying statement:



And from the 11 May ASX announcement of the Fletcher agreement:



So........Fletcher Insulation is Australia's biggest insulation provider. Why would they need something produced in Los Angeles and shipped here when it could be done in the Melbourne facility?

Fletcher's is owned by Owens Corning. Who are they?


Ah, USA's largest fiberglass composite company. What is insulation? Um..... a fiberglass composite.

So, what I would dearly love to know is this. Is the $500M market opportunity just Owens Corning and its subsidiaries including Fletchers? Or the entire insulation production industry?

Either way, if Owens Corning is the biggest, and the Fletchers research agreement is successful, it is fairly logical that it could/should flow on to the El Sugundo operations and it will be a very nice revenue stream in its own right.

Then they can do it for the Auto industry, and why not go make some Satellite components as mentioned above, and Rocket engine stuff from their Gilmour Space collaboration. Could be a good year ahead.