From my discussions both are still viable. Europe is a new thing and it is only with two "unnamed" countries. I threw out the Ukraine when talking with him because I do business there and have made a ton of money working with VC groups over their...he seemed to almost bite on that, but wouldn't comment.
From all that I have learned about ECOS over the past two months, I can give you all a very honest opinion on this company. First off, they actually do have a great product that could make billions. Not millions, I do mean BILLIONS. Secondly, ECF in Chile has used their product and did find it to work and be a cost saving technology which they are highly interested in utilizing.
But ultimately, this company is very cash poor and has not created sufficient revenue to successfully take their product to market without a significant "cash upfront" type of contract or funding from an outside source to forge a global marketing campaign. Fortunately, their operating costs are fairly minimal so the company can continue to exist and do business with very little income for quite sometime, but the big boom in pps will not come until something legitimate occurs.
To contract, if you look at a company like Clean Energy Fuels (CLNE) you see a company in a very similar situation as ECOS: Great niche in the energy market with a developed business plan, yet NO current revenue streams. However, CLNE has received tremendous national attention and gained the backing of VC and private equity firms which are funding it's political PR campaigns and marketing efforts. PPS difference is tremendous.
