Industry Source Consulting Inc (INSO)

[red lexus]

Agreed Hobbes that eventually a capital infusion will be needed. A profitable JV along with biochar sales will open doors. I keep looking at the loan guarantee the State of Maine approved for a start-up in their state. Twenty five million. Joe James is politically connected, has acquired difficult grants, and I'm sure will explore all avenues for capital. Between grants, loan guarantees, private equity, etc., they should be able to find a way. The fact that they aren't deeply in debt already is a plus.
The stated capacity for the full-sized torrefaction machine is 5 tons per hour and it is designed to run 24/7. That would be approx 43,000 tons/yr. The 43k plus the 13k from the initial machine, less any down time, should produce enough biocoal for the large order. You are correct that they need to add a full-sized machine. The list price is 5M, but perhaps the JV gets it for less since Joe James company produces it. I understand your disappointment with the initial capacity, but I think it can be quickly remedied next year. IMO.

GLTY Hobbes,

RL