For those of you that struggle to consume a document like this, can I suggest you just read page 8, under the heading: Risks. I dont recall seeing this in previous reports but anyone still brave enough to be optimistic about short or medium term positive outcomes for CCE should have it well and truly knocked out of them when they read that.
In summary the key points:
-Governments are reluctant to throw money at wavepower as they need near term solutions and there are already alternative energies, primarily wind and solar, with commercially successful models.
-They may find it difficult to source bespoke parts for the CETO solution which may lead to delays in testing and/or unreliable components.
-Advancement of both Moorpower and Ceto will be heavily dependent of getting partners who will front up with the money. It is a given therefore that those partners will also want a significant part of the action, if, and its a big if, they ever get to commercial viability.
-The financial viability of CCE is the medical equivalent of being on life support.
This time last year and going into 2024, there was a lot of optimism around and I shared in that. Moorpower was going into test mode and the Eurowave success looked promising. There was some anticipation that profitability might be just around the corner. But CCE have done a great job this year in knocking that optimism on the head, letting us know, in a somewhat disguised way, that this thing is still a crock.
CCE Price at posting:
3.9¢ Sentiment: Hold Disclosure: Held
