Something I’ve been circling around, informed by several recent discussions:

- vc/family office great for early
- project finance is great for plants 2 through 10
- but how does that first demo plant get funded?

Everyone I talk to seems to think that is gaping hole.

Yes?

I know there are a few players starting to do it, but tiny dollars relative to market needs, right?

How does the traditional project finance model need to shift for a vehicle focused on plant one and the corresponding higher tech risk?