Ann: FBR Extends Memorandum of Understanding with Caterpillar Inc, page-155

There is a clear pathway to a substantial and concrete deal with an identified partner. Whether that deal is signed and delivered is a known risk element, largely tied in to the question of whether the machine works or not at all. It may not be in your risk profile to accept that risk (and associated reward), but your appetite will not be the same as everyone else.

I don't think anybody seriously thinks it's all done and dusted, but the chances seem promising, the potential outcome is firming up, and the risk/reward seems favourable to many.