ESS is already listed and they can raise money, who says ESS...

ESS is already listed and they can raise money, who says ESS doesn’t have the option to chase funds from a partner of their choosing.

Management have stated repeatedly that their aim is to secure customer financing, if this fails to eventuate or
sufficient commitments to cover capex are not met then there is the option of a standard CR as an alternative.

There are positives and negatives for both funding routes, an institutional CR will lead to significant price volatility due to the loose register ESS has, CXO is a good example of this.

The primary downside I see with customer financing is that you are then beholden to your customers, depending on the form the deal takes.