Execution And Funding BottlenecksHeavy reliance on approval from a single export-import bank and the requirement to maintain strict schedule and budget discipline create execution and funding bottleneck risks.
Financing And Dilution RiskRemaining pre-revenue status and the need for substantial additional capital create dilution risk for existing shareholders and pressure on per-share value.
Non-binding Agreement RiskCurrent term sheets are non-binding and must be converted into definitive contracts before offtake commitments, strategic investment, or financing outcomes are guaranteed.