Ann: Altech - Launch of German Project Equity Strategy, page-58

51% of a $1BAud NPV venture gets us a 7 fold return on our market capitalisation from here. From what I've seen, it seems we won't need to do any further capital raise so no dilution for shareholders in ASX:ATC. For me this is the positive. Yes the deal provides downside risk coverage to the equity raising vehicle in Germany, but it's also got the task of raising the $100m US.

While other deals could be theorised by posters, this option provides a legitimate path to financing complete and for that you have to give it credit. While we've got the project, equity and finance providers ultimately have the power in us achieving any of the projects projections, and hence the degree of bargaining power.

Sharing the fruits of the ATC story playing out is better than maintaining 100% share of the ATC plan failing to access finance.