Nathan Latka

So that buyer is the housing company.

The seller is the heating system provider, the solar provider.

And what's the average project value that goes through that marketplace?

I think the marketplace, what you do, makes perfect sense.

I'm just trying to get a sense of traction.

So if I asked you, like, what was 2023 total project value that flowed through your marketplace, what would you say?

Okay, so hundreds of thousands of euros in terms of projects completed in fall of last year, right?

Moving into obviously winter.

And what do you think you'll do in 2024 in terms of total project value?

How much are you targeting in that SPV?

And Tara, in that, let's say you raise 10 million to make the math easy from a warehouse partner and you set up a bankruptcy remote SPV, how much haircut capital will you as the company have to contribute?

In other words, that warehouse is only going to fund 90 cents on the dollar.

Do you have to fund the other 10 cents or how much are they advancing to every dollar you lend?

Let's say there's a 50-company housing project in Finland.

They're going to spend, let's make the math easy, $100,000 installing solar panels.

Walk me through how you'd fund that.

Okay, a million.

Give me an example, Tara.

A million dollars installing solar panels.

What would it be for a million-dollar heating project?