Nothing is 100% in the and access to funding may again provide a...

Nothing is 100% in the and access to funding may again provide a stumbling block. The thing that has been well defined over the many years though is that this tech does 100% offer benefits in certain thermal recovery situations. The system has displayed clear advantages when low grade single pass heat is the input. I wouldn't call it disruptive but it is incrementally better than current technology. Luckily this low grade heat is very abundant so the technology is able to address a large market.

When you look at the projects landed by Kalina over the years one thing is quite clear and that is that the quality of the companies that they have made partnerships with has slowly improved with Sinopec being the best to date. This to me is not so much due to any improvements that management have made. It is in fact more so to do with the maturity of the technology.

When addressing any investment case large companies have rigorous processes in place to manage risk, in the early stages Kalina was a novel process without any real bench-marking completed to suitably derisk an investment in any meaningful development. The large companies will simply not invest in unknown tech. Over the years Kalina and other have substantially derisked the proposition, there are now plants that have been operational for very long periods, failure points have been identified such as the heat exchanger issues, independent research papers in the 100's have been written and in general the technology has matured.

Put simply the process is now ready for adoption by larger players and the worlds focus on efficient renewable energy production further sets the scene for success, management just need to not screw it up from poorly executing projects..