Ktex and C Brooks I really like reading your posts most of the time, you always have an interesting piece of news or perspective. However you've both been around enough to know spending time responding to certain posters is generally futile. Maybe just consider if you're furthering their cause?
Totally aside, I like the wording "Strategic partner process continues with strong support shown by UAE state organisations" on slide 14 of the latest presentation. I have no reason to believe this is a falsehood, but given ongoing delay (as one poster noted, we were originally meant to be in production 4 years ago), I place less stock in it meaning breakthrough is imminent.
What I'd like to hear from the company is, why, if UAE state support is strong, is the issue of substantial delay down to failing to settle what state actor will invest. I have emailed the company to ask, and yes, I know I am 99.99% certain to be rebuffed. I can only presume it is either too commercially and/or politically sensitive (whether in UAE internal politics or sensitive to geopolitics with the US) to disclose, if they could have I am sure they would have.
Assuming the company is unable to clarify, does anyone else have any insight into why UAE might be so backwards in coming forward? Some threads to consider:
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https://masdar.ae/en/news/newsroom/ad-ports-group-and-masdar-to-explore-the-development-of-a-green-hydrogen-hub UAE State fund Masdar appears to be linked to the green hydrogen hub at KEZAD which we know LPD has talked about drawing on to further reduce carbon emissions per tonne of production.
- Perhaps unsurprisingly Masdar lists promotion of energy storage and clean technologies as its field of interest, including lithium battery storage.
- LPD's tech seems to fit into pillar 1 of the 2022 PACE agreement between UAE and USA to catalyse new technology development. I draw from this: https://ae.usembassy.gov/u-s-uae-partnership-for-accelerating-clean-energy/#:~:text=Launched%20in%20November%202022%2C%20PACE,shared%20net%2Dzero%20emissions%20objectives.
- PACE launched a first wave of projects in 2023, and apart from some news on nuclear energy in December 2023 I haven't heard much more about it.
- Is the creation of this new fund UAE announced at COP28 a potential cause of confusion over the investment vehicle used?
https://www.ft.com/content/fbe6e38b-4808-480a-ab20-9379fc2a91fd-Given the upcoming P2 location study, and presuming both UAE and USA are actively interested in LPD's product, potential for jobs, investment etc I imagine there is some competitive tension between UAE and USA over the P2 location. If I were either party I'd be leaning on LPD to make a decision in my country's favour and presumably UAE has maximum leverage given the effort gone into the P1 plant being located at KEZAD. Also, the general, slightly freer rein of non-democratic countries to make up rules as they go along.
None of this ties off neatly into any formed conclusion obviously. But while all the other stuff on caesium pricing and potential use in batteries is great and I find it awesome to log on and read this stuff and its part of why this forum is so great, I can't tear my mind off the stumbling block of finance. Potentially not needing the 27km transmission line is awesome, lower capex is awesome, extra profitability and prospective combined uses for byproducts is all awesome, don't get me wrong.
However a lower margin on revenue is far more value accretive than no margin on no revenue. Keen to hear any other's thoughts on all this.
(20min delay)