A binding MOU conditional on field trails is an oxymoron. Theres nothing binding about it. Who decides what a successful field trial is? And we don’t even know what specific field trails are being conducted.
Examples of binding contracts would be like the binding Offtake agreements Vulcan received from Volkswagen, Renault, Stellantis ect which are agreements to purchase a minimum amount of product over specified timeframe on a take or pay basis. If Vulcan have the product these companies have to buy the amount agreed to. This is what banks want.
A binding MOU conditional on field trails is an oxymoron. Theres...
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