Everyone I’ve spoken to was heavily scaled on this, most by...

Everyone I’ve spoken to was heavily scaled on this, most by somewhere between 75-100%

The level of oversubscription isn’t always the best measure of future performance but I’m pretty comfortable that this will stag very well indeed. The honeymoon period will be steamy AF. Once the dust settles you get to see who the real backers are.

It’s clearly good tech, there’s clearly a business case for it and to the right customers it’ll sell itself. The business that can weld at an 80% lower cost stays viable, those competing don’t.

This (like most) is all about execution. If they hit the board running with early sales success then it’s pretty clear this will quickly become a market darling. The sales team won’t be cheap, nor should they be. They need runs early to prove the pathway to profit.

As a side thought. If KTIG can weld things together for 80% less than competition then why are they selling rights to the method? Surely there is a huge advantage in becoming the fabricator or licensing to only select high value clients?