MO doesn’t mind being asked questions and he usually perceives...

MO doesn’t mind being asked questions and he usually perceives the level of the questioner’s thinking and answers appropriately. Sometimes these are simplistic and at other times he is willing to give considerable depth of information. It also depends on whether he knows you and how the question is asked. The hint here is, don’t ask naive questions; prepare well in advance.

There were no tirades at the Sydney road show but there were two or three people who showed dissatisfaction with repeated SPPs over the last three occasions. MO said that on each occasion the statement justifying the SPP was different. This time CCE is in receipt of revenue. Never before has CCE been in such a position of strength. Even if no one participated in the SPP they could get the funds by several other means. In my view most questioners do not read the ASX announcements diligently enough nor have much concept of how an R&D company has to operate.

MO went through the presentation adding interesting verbal detail. I interrupted him on the Ceto 6 update since he was keen on talking about the locations where they were going to be deployed whereas I wanted to know more about progress on the actual technology. The multi tether BA diagrams have not shown any PTO in the way of the large and massive pistons hanging from underneath. My question was, since the new design has been worked on for at least three years, has it been decided whether the PTO is going to be a hydraulic system or a linear generator? Answer: “The hydraulic system is still the default choice, but we are seriously interested in linear generators.” “These might appear down the track when linear generator manufacturers produce a suitable model”. This sounds a good way forward to me as one sticks to known and available technology for the time being, but is ready for the more efficient product when it arrives. Much more was said.

The question I didn’t get to ask: What prospects are there of the European Commission or its subdivisions providing FiTs or equivalent (like the discontinued ROCs) so that CCE can take up its place at Wave Hub in Cornwall? Someone else please ask. The aim is to extract information on what the EU might still do besides just giving development grants. Wave Hub at present looks like a white elephant but they would move mountains if they could get CCE to deploy there. MO in usual manner keeps the PR pots boiling.

There were only 40 people present in Sydney. At the road show of 4 April 2017 there were over 100 (more people than chairs). Attendance has fluctuated widely over the years. Puzzling.

Jukes