Government money and St-Malo financing
RJ is wondering why didn't FASC receive a deposit from St-Malo, from their 1 million dollar subside.
St-Malo has a 4 M $ project (District heating plant plus future pellet plant, both supplied with wood dust produced from the KDS.
Three technologies will be in demonstration: the KDS, a wood dust burner and a wood pellet burner fueling the steam boilers.
The remaining 3 M $ partly comes from the promotors' equity and partly from the bankers' financing. This is where it is getting complicated, as the bankers ask for more equity than our accounter had planned.
The 1 M $ subside will be made available in four payments, when each equipement will be ready to produce... This means that no money is available yet for a first deposit on the KDS.
You don't need to know more about our financing situation. It is only a matter of a few weeks and a few hundreds of thousand dollars before we'd be ready to get this precious KDS.
I hope my next post will be to announce you what you've been waiting for a few months now about St-Malo!
