Update on the EFT Fiasco13 Nov 2018 10:56
I have been away and have now caught with events on the EFT side.
I will try, as far my research can unravel (The internet is a wonderful thing) , to add some balance being placed on the Bulletin Board by the usual suspects who are intent on undermining the company and its technology. It my belief that these people are probably being orchestrated by the competition…. Who, I have no idea……
This is my honest opinion….
1) There is zero negative financial impact on the contract with Red Rock as we will still be providing 6 reactors to Red Rock just as the company stated in the interim’s
2) EFT must have been pretty much wholesaled their reactor to RR or even given it away; I suspect EFT was removed by Fulcrum and its major partner BP and are using BP reactors which as far as I can see are still unproven commercially.. But BP is Fulcrum's major investor so they can do what they want….. So no big deal there and tough for EFT.
3) What is clear is EFT could be in trouble as their technology, in my opinion, is not as good or advanced as Velocys or commercially proven.
4) So EFT Technology has NOT been proven at commercial scale and probably may not be even used by RR as I would imagine it would involve significant replanning of the current plant to actually even put it in. Not sure on that point. If this is the case then surely RR would be very unlikely to do this, as it would be at possible significant cost to themselves. Are EFT up the creek without a paddle and could they go out of business because of this collapse in the relationship with BP time will tell….
So I believe Velocys are still on schedule without huge cause for concern and are probably even building the reactors for RR. Perhaps even as I type??? The new management will be pushing this through I have no doubt.
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