[gpm]

> Because it doesn't cost MS a bean until Helion have something working

I doubt that (unless you have some source for it which I missed, in which case sorry). It seems really unlikely that Helion would commit to a contract with penalty clauses if they didn't get money before they got fusion working.

Once (if) they have commercial fusion working they're golden, it will be trivial to raise money on excellent terms, and as such they won't need income from this contract. If this contract only gave them money at that point it wouldn't be worth very much to them.

If the contract gave them money now though... well right now it's hard to raise money. Taking a loan out could make sense. Getting the option to repay that loan by providing services could make sense. And what is a contract where you get paid now on the condition that you pay back more at the end (either in dollars in energy) if not a loan?

Besides, it's a loan which serves as great PR for both companies.

[trebligdivad]

Fair; but I think their problem is that they'd like to get money to start to build the production reactor before they've demoed they have it working - of course that's risky as hell. But if they're right, and can start going the basic building and construction on the next phase while finishing the current phase it chops a couple of years off. But being risky as hell anyone sane would be more worried about making a loan or investment - so some encouragement in the opposite direction from a customer would help them get that loan.