Second OEM has internal combustion based products that will need to be switched over to electrical.

reach into Japan

Signed second order for high voltage battery for diesel replacement. First order to global aerospace corporation was recently announced.

currently in late stage negotiations to multinational bus company- IF they get this contract it will be a similar size to current material handling contracts.

Solid State Battery progress:

developing ceramic material with high ionic conductivity.

developing innovative separator based on proprietary ceramic technology.

no guarantee that these innovations will result in commercially viable solid state battery

Ontario: maximum production capacity ~$130 million in annual revenue. Will need additional capacity by mid 2025.

Nothing finalized on plans for raising cash for expansions. Will need more money. Want favorable terms. Don't want to dilute equity. Still optimistic about getting favorable terms but would sell Jamestown (at a profit) if they can't get favorable terms.