Executive abstract
0.3 Five asks, and nothing else
The paper is one document with three self-contained tracks. A director reads A. A plant manager reads B. An expert reads C and the annexes. On either outcome of the first measurement — a pass that justifies conversion in April 2027, or a fail that lets filings lapse at a saving — the programme buys a decision worth more than it costs.
What is established
Aluminium reduces water to hydrogen and a hydrated oxide. A native film passivates the metal and is the reason the reaction is not a household accident. Liquid gallium can keep the film from closing (Woodall, and a subsequent literature). The wet film is a bilayer: a dense inner barrier and a hydrated outer shell. Impedance spectroscopy reads that interface.
What is filed
A managed combination of those facts: promoter islands, a bilayer grown and held on purpose, three actuators, and a control loop that takes impedance as its instrument. The preferred civil embodiment is a 25 L, 316L, near-atmospheric, ~70 °C continuous skid. A licence deed of 13 April 2026 sits on file. None of this is a grant.
What is not yet measured
Yield per kilogram of the group’s own feedstock. Residue phase. Gallium recycle. Closed-loop control. ISO 14687 or AS 4839 gas. SIL. Anything that would let a counterparty write a number into a model and keep it.
What has been withdrawn
The April 2026 IM valuations for this family. The March 2026 Monte Carlo median of US$1.14 billion. TRaCE as A$6.8 million executed. Compute-as-product, temporal-reflection, quantum-biology and 377-application maximalism. Kitchen-table foil as validation. ‘Negative-cost hydrogen’ as an unqualified claim.
The five asks
None of them a security in this paper
| Ask | Money | What it is |
|---|---|---|
| 1 · Co-fund a Founding Member seat | A$500k of A$10M | Twenty seats. Aggregate A$10 million. A Foundation Tranche of A$2 million (four seats) is called first and gates the rest. A seat is not equity, a note or a unit: it is a defined contractual position — information rights, a field option, and first look at the first civil pilot. |
| 2 · Host a pilot site, or supply feedstock | In kind + offtake | A smelter, a remelt, a mine depot, a port, a tank-farm. The host supplies a pad, power, water, a waste-aluminium stream and a named safety officer. The group supplies a skid, the control loop and the measurement protocol. |
| 3 · Take a licence by field | Field royalty | One field, one licensee, one territory. The sixty civil applications are the menu. Defence, medical, implant, clothing-on-body, space and compute-as-product are not on the menu. |
| 4 · Take an option over a field | Option premium | A time-boxed exclusive look at one field, exercisable into Ask 3. Lapses if the Foundation Tranche is not completed or if the first measurement gate fails. |
| 5 · Fund a gated measurement package | A$0.85–1.4M | Sponsored research, not equity. Pays for film-and-reactor control, the hydrogen-yield protocol, impedance as a process instrument, independent replication, and a stop rule. |