RE:It’s totally amazing The shareholders equity in E3 at the end of June, 2023 was $ 37,505,000, so a $ 20,000,000 cash infusion is a significant event.
The cost to build the commercial plant and associated infrastructure was estimated in 2020 to be
$ 602,000,000 US (roughly $ 800,000,000 Can). I am unsure whether the cost to develop the DLE process and build and test the pilot plans were components of the estimated cost of the commercial plant. Inflation will also have increased future construction costs.
So it should be clear that E3 will have to go through many more painful financing activities unless we can partner with Imperial Oil or the Brookfield's of this world.