Can’t be just coincidence. Trying to link this to last Friday’s...

Can’t be just coincidence.
Trying to link this to last Friday’s announcement,
”In addition, we anticipate that continued growth of recurring revenue projects in the Caribbean and elsewhere will drive the need for further project financing. We are pleased that Upwell has increased our facility to ensure proper financing of both. Given we have two and a half years to secure additional projects prior to term loan maturity, we anticipate that a major part if not all of the funds will migrate from term loans to project finance loans. Upon such successful reclassification, Fluence will be in a position to prolong repayment of the facility using recurring revenue generated from projects rather than repaying working capital from our balance sheet.”

We could be on the way to convert that $30m term loans into project loans and take it off balance sheet in the next 2 and a half years.

Given a 70% capital financing, we would be looking at $42m of projects in the Caribbean and USA with the facility.