Agree the VAM business & funding model is really clever. Project...

Agree the VAM business & funding model is really clever.

Project funded by 3rd party investors so minimal upfront capital requirements for VYS and the major financial project risk is passed on to 3rd party investors.

VYS is the middle man - milk the mgt fees & toll fees like an annuity stream.
Add in the PW kicker upfront too.
Maybe further kicker from construction acqua too - that would make VYS truly end to end.

From VYS perspective, this model is capital light, low risk and easily scalable - they're already considering 3 projects since VAM launch one month ago.

And they have an experienced pro in place to run it.

Water infrastructure is the perfect ESG proposition - insto interest should be high.

P.S. looks overbought ST, so a case of buy the pull back IMO

(wish I bought more in the 8c range!)