It is not clear what the hurdles were and how much was linked to...

It is not clear what the hurdles were and how much was linked to exixting project or performance of that project as we know it is not commercial. many grants are related to proposals and agreed hurdles and we have seen so many other companies get them and projects go nowhere. that is how science and research works so I know what you are saying and it may seem like a obvious conclusion to come to and a marketing tool but it may not be the reality of the situation.

The best news is they have some more funding.
The downside as a taxpayer is that we don't get a exercisable option to 2% of the company at XX price for putting in. Costst current holders nothing and if technology goes nowhere we lose nothing but if it is a raging success like so many other things 90% of engineering construction etc will be done offshore and Australia doesn't get benefit so the govt should be getting a trailing commission or leverage on a good result for doing early funding. Same as we do with oil and gas royalty. Same as PNG and African govts where upon commercial success of discovery XX% is offered to Govt at price they initially participated in.

I still see that CWE isn't moving fast enough and not sure what $ it will take but they need to accelerate project development or are they waiting on different world energy profile so that eventually they will be competitive?? Get on with it.