JedRothwell : I do see your point Jed, and I actually believe it does square somewhat with what Brillouin is trying to do.
Their licenses with third-parties that will incorporate their technology are partnerships with big companies with lots of money. They only have to deliver prototypes to those companies to get enough money to raise their COP through the roof. And while those prototypes require a certain COP to be reached, we’re talking about 3X-4X, that is to say something extremely close to where they are right now.
Those prototypes are your “impractical” devices. Brillouin is not looking to get stuck in an R&D trap. It is looking to get enough money to build a device that will trigger payments under their licenses.
Provided they do not die for lack of funding in the next two years and they reach a COP that seems extremely reasonable considering the progress they have been making, they should succeed.
As I have said above there are two main risks: one is that their calorimetry is flawed and they are actually not producing any COP, and the other is that they do not get funding and close shop.