How time flies - 18 month gone and nothing has come of it, or at...

How time flies - 18 month gone and nothing has come of it, or at least nothing has been announced to the market.
Tranche 2 options agreement will expire today.
From the announcement dated 25 August 2021


Under the agreement, FUND4SE will assist Redflow with the following in relation to the Project:
• introductions to Project stakeholders including the project principal, project developer, EPCM
contractor and other technology suppliers;
• Underwriter Laboratories certification, initial pilots and technical due diligence; and
• review and analysis of potential manufacturing locations in the US including funding requirements.
For FUND4SE’s services, Redflow has agreed to the following consideration:

• Tranche 2 Options – the issue of 100,000,000 options, exercisable at A$0.08 per option. The Tranche
2 Options will vest if definitive legal contracts are entered into by Redflow, by no later than 18 months
after the date of Redflow shareholder approval, to supply a specific commercial-in-confidence project
with Redflow batteries representing a minimum of 10MWh of energy storage to be delivered over a
maximum of 24 months after the date of the contracts.