Info ref Kingtide update18 Nov 2024 09:45
I messaged Kingtide directly for an update, just wanted to share the reply. make your own mind up!
Apologies for the lack of communication, unfortunately I cannot comment on the Cel AI business as I am not involved in that.
My team was brought into KingTide to provide advice on the business and although we have made significant progress in 2023, unfortunately the uncertainties around carbon markets still remain. The most prominent seaweed sequestration company, Running Tide, shut down earlier this year as a result of market conditions. While we remain bullish, we believe the carbon market still requires some time to mature. We will continue to look for growth opportunities with KingTide, including various public funding options, but have delayed aggressive expansion plans.
Please note that while we do advise the KingTide business, we effectively operate at arms length and do not have any insight into the parent company operations. Despite not being (or ever having been) employed or paid by KingTide, I do have sympathy for all the shareholders and I hope it will give you a small bit of comfort to know that my team is continuing to have discussions with various partners in the background in an effort to drive the business forward, effectively providing risk free upside to shareholders at this stage.
Thank you,
Derrick