Recent answers from EVM about commercialization: (all quotes from Kim Forte who is EMV's PR contact, emphasis added by me) There are a number of financing scenarios - they include owner vendor, vendor partner, licensee. Project finance is material to this question. EVM is raising capital at the moment for working capital and FEED (front-end engineering and design). Arup have started some of the work under the MOU and now a formal contract is in place it will be a more dedicated time driven outcome in line with the SCPPA PPA. There are grants and rebates available to ST development. The tax rebate has always been a drawcard to US commercialisation. Utilities could not formerly apply for the tax rebate however this is now changed and utilities are not prevented from owning a utility that qualifies. Naturally this has been up for discussion with SCPPA in many forms. A 200MW Solar Tower will not cost $1b and a second Solar Tower will not cost as much as the first and I am not able to disclose the revenue per kWh - I can say that it is commercial, with a strong ROI. There are two Arizona sites earmarked alongside each other (they are side by side divided by a road) the PPA announced in Oct relates to power to be sold from AZ ST 1, the AZ ST 2 is more of a 'two birds with one stone' scenario re land acquisition, planning and marketing and also in terms of creating value for project/development owners - whoever that may evolve to be. Acquisition of the second site provides a stronger business case for the initial development via scope for further development. It is bewildering that there has not been more traction since the last four announcements: PPA Approved by SCPPA Solar Tower Fits the Bill EnviroMission Signs Arup EnviroMission Starts Regulatory Process Support translated through to a higher market capitalisation is important as finance negotiations had - the higher the market capitalisation the less dilution results from placement and/or even draw down facilities. Existing shareholders will always want to see the least amount of securities exchanged for the most amount of investment - it is the way of the world. I sense that you wonder why certain details ie price per kWh are not released - it is extremely sensitive information with capacity from the second power station as yet not committed under a PPA - however it is expected this will change. Operating Development Capital / Revenue i) Sale of development rights and/or licensing of technology market by market - value will be increased with AZ ST 1 commercialisation success (IP is currently being revalued) ii) M & A activity - not something on the EVM agenda however the current market capitalisation creates its own vulnerability to M & A iii) Partnering or JV - asset security iv) Developer of AS ST 1 via a novated structure - remember utilities in the US are now able to benefit from the tax credit rebate v) Capital Raisings staggered to meet ongoing FEED need