They will have the money to live a short period and have washed the books and history - job done IMO
The next pivot will be interesting
Will it be a spinfest as they have a new captive audience as I just don't believe there will be $ to last long especially if they try and re-engineer what they have.
AI and Machine learning are the latest buzz words. Brilliant tech that can speed development and get possibly meaningful data out of prior work and lead to greater efficiencies etc. On a smaller scale all the data sensors if they worked on original deployments should have produced much data and reprocessing that can prove prior models but honestly the output , losses and issues seemed great in that piston design hence their change to a different design and efficiency with bosch and rexoth ( sic) but shareholders were only ever told the possible nominal max output of components not the realistic output in their system and in buoy.
The key issue is what are the realistic hurdles in what environment for wave energy to be economic and subsequent to that what circumstances would make it suitably risk free that some organisation would actually pay to give it a go? That is the real hurdle and numbers that CCE should have in a prospectus and the pathway ( with mini hurdles) to achieve those. Shareholders could then see that if they can't jump the first hurdles the finish of the steeplechase is a fantasy. If the mechanical equipment doesn't exist ( off the shelf) to get the efficiency and it isn't easily adaptable to get that performance, longevity in a floating buoy then they are kidding shareholders.
They previously launched a set of buoys that " met their performance expectations" and if that is real then their wave pool and scale up results were known a long before initial builds but shareholder still believed they were building a modular ready to sell product but it was a test bed . They knew expected performance and only launched to meet granta nd funding conditions and to give investors something physical to see. Thanks to Jorc in mining there is a obligation to put out results at least in a standard way !!
I want to know if they have 4 individual component of - lets say 10 - that are required for a suitable installation that currently meets those specs they needed to have a working product. Yes there will be integration risk but if individual components were known never up to expectation end result was...............
- Connections and power to shore - longevity of constantly moving cable connections ? Feed to shore done by other offshore power so that should be a given. -Anchors? -Tethers? -Storm suitability -Maintainance - Onshore - offshore . Size avaliability and equipment required to do so. -- - - - -Etc etc etc
