Today’s announcement had me consider the following. Imagine if...

Today’s announcement had me consider the following.

Imagine if we did go down the path of commercialising our technology with a family owned steel manufacturer for example. For the same kind of commercial terms they would have hit us up for 75-25% split in their favor if we were lucky, and on top of that they would be reluctant to share the technology and commercialise it with their competitors.
So from that POV it wouldn’t surprise if they would then frustrate any negotiations carried out be ECT for commercial plants outside of their own.

With NMDC and NLCIL we have the complete opposite and best possible outcome that few have considered over the last number of years imo. It is a significant partnership because our partners own the majority of their respective resources in India, it’s not hard to imagine these Indian government entities wanting to stitch up supply contracts with every steel manufacturer in India, the benefits for all steel manufacturers will become clear as we progress.

What Indian steel company would not wish to get behind their own government and majority owned technology that was proven in their own backyard, and at the same time utilise indigenous resources, no imports.

The added benefit for all steel manufacturers is the opportunity to monetise and eliminate their of own waste in the form of mill scale.

So anyone that suggests ECT hasn’t achieved a significant outcome with the 51/49 % split of future royalties hasn’t seriously considered the enormous opportunity that lays in front of us.