King James 1, given the size of Exxon and our little FCE, there is little doubt that Exxon is in the drivers seat. Seeing it that way is not being too sensitive, it's an accurate perception. As we hear so often now, "follow the money"... look at who is funding who. FCE is definitely controlled by Exxon when it comes to carbon capture, evidenced not only with the approvals required in the joint agreement, but in issuing press releases as well. Given the public perception around climate change, Exxon certainly has far more at stake than FCE...and carbon capture is a significant yet little piece of the worlds largest oil and gas company. That said, they need each other. However, as stated in the joint agreement, FCE is free to seek out carbon capture business on their own.
I am no lawyer, but if FCE and Exxon share patents, it would be necessary for Exxon to grant FCE "full use" or in the case where FCE granted certain patents to Exxon, then it would make sense legally to grant them back as stated in the joint agreement where it involves authorized third parties. Certainly the "third party" in any endeavor would require that...especially if the third party was to share in any patents that would arise from their participation.
I appreciate what you bring to the board.
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