RE:RE:RE:PGX ahead of schedulelscfa wrote: The many iterations of PGX plant planning leaves investors thinking CZO mgmt is flying by the seat of their plants. Why the hell build pilot size plants in Edmonton and Austria and then later a larger facility somewhere in Canada, especially when co. said Germany had the cheapest input costs? Where the hell is the strategic planning?
Those who live in reality adjust to the facts. We've lived in historic times. We had COVID and then entered the worst biotech bear market in history as central banks had to deal with multi-decade high inflation. The inflation and interest rate shock and uncertainty had many biotech companies trading below cash. Raising $40 million for a speculative plant was a no-go under the circumstances. We may only now be moving beyond this as inflation fears ease and the S&P Biotech ETF presses up to multi-year highs after a sharp surge in the last four months. There was no money for biotech. CZO adjusted its PGX plans to scale-up PGX within cash on hand to de-risk the project. It hired a VP of Technical Operations who brought his ideas. CZO used its plant to scale-up 5X and fed the learnings to Natex which is scaling up to 10X. CZO's equipment was in Europe and Natex is a leading critical fluids company with its own facility. CZO leveraged Natex;s facility. Germany is also dependent on Russian energy and Russia invaded Ukraine. Germany has been in an energy and industrial crisis as a result. Bottom line CZO is now 7 months from small scale-commercial PGX. This facility is 10X the size de-risking additional scale-up. CZO has maintained control of PGX, advanced it within its limited resources, coped with historic global and macro uncertainty and is stronger than ever.
German electricity normalizing after Putin's invasion: