Are there any CGI engine projects that have reached a point where they cannot stop, and that have not yet been publicly announced?

Shareholder, name withheld

Yes, we are actively involved in car and truck CGI engine programs that have passed the point-of-no-return, but are not yet publicly announced.

The critical point in an engine program is known as “Program Approval”. Program Approval is when the OEM signs-off on the engine and releases funds to prepare for series production. Even if the OEM may have spent 100 million Euros during the development phase, Program Approval is when they release the large sums of money to retrofit or build manufacturing facilities. Program Approval also determines which vehicles will use the engine and what the launch dates will be. Once Program Approval is granted, there will be vehicles waiting for engines and marketing teams preparing sales strategies. Program Approval is the point-of-no-return, and generally occurs about two years before the start of production.

We are actively involved in car and truck engine programs that have already received Program Approval. This provides one element of our future confidence.