sale to eon ruhrgas, page-5

I think the developments over the past months have been outstanding.

Whilst massive orders would be welcomed, it must be kept in mind that every low-production volume Bluegen unit sold will be at a premium price (very likley in the $30-50,000 AUD range, based on information I recall seeing in some Nomura code research).

So the cumulative benefit will be to significantly reduce cash burn, and to me that is the figure that I will be closely looking at over the coming quarters. Another capital raising is not out of the question if things progress slower than expected, but I think the progress so far has been positive, and clearly their sales team are beginning to get signatures on the dotted line.

Furthermore, the more energy companies that commit to these "trial purchases", the more pressure there will be on their peers to not be left out. Hence a snowballing effect might reasonably be expected.

All IMO of course,
r.