Stakeholder Alignment
Establish a shared reason to build with suppliers, customers, site and technology partners.
PHASE OUTCOME
Documented interest, usually recorded in MoUs.
HOW WE BUILD
Reconfigure the parts.
Build the whole.
Eight factory components become defined asset classes and operating responsibilities, serving one integrated Factory Operation.
THE RE+CIRCLE ASSET-CLASS MODEL
Different assets.
Financing that fits.
FACTORY COMPONENTSRESPONSIBILITYASSET + FINANCING FIT
FEEDSTOCK + OFFTAKE
FlowCo
Material streams
Materials buy/sell working capital.
PROPERTY + BUILDINGS
PropCo
Property assets
Property Investment Capital, supported by long-term tenant agreements.
TECHNOLOGY + INSTALLATIONS
AssetCo
Equipment packages
Equipment finance or potential leaseback, subject to qualification and lender terms.
OPERATION
OpCo
Factory Operation
Venture and performance risk, operating cash flows and working capital.
FINANCING
Distributed across the asset classes, matched to each asset and cash-flow profile.
Property: a campus may serve multiple OpCos where qualified.
Equipment: vendor residual value certificates may support financing, subject to the actual obligations and lender acceptance. They do not themselves guarantee a buyback or residual value.
Responsibilities: these functions can operate as departments or through separate companies. The model does not itself establish legal entities or ownership.
FROM FACTORY PROJECT TO FACTORY OPERATION
Evidence before commitment.
Leadership through handover.
The Industry Studio leadership team originates and qualifies projects, coordinates development and leads delivery toward Ops Handover.
- Origination
Define the opportunity and initial factory business case.
- SAFE A · B · C
Qualify the configuration and negotiate the commitments.
- FID Close
A distinct investment decision and funding event after qualification.
- Build-to-Operate
Construction, installation, commissioning and team development.
- Ops Handover
Transfer responsibility to the operating team.
Factory Operation · OpCo
The business continues: recovery, customer delivery, operating performance and cash flow.
Process model, not a statement of any project’s achieved stage.
SAFE QUALIFICATION
Three phases.
Specific outcomes.
Design & Feasibility
Use range terms, a system design overview and RFQs as inputs to test the factory case.
PHASE OUTCOME
Progress toward Letters of Intent (LoIs).
Commitments
Negotiate the commercial and delivery terms around the qualified configuration.
PHASE OUTCOME
Callable Agreements, executed upon or after FID Close is declared.
Progress depends on reviewed evidence. A project may be refined, paused or stopped. SAFE C is not FID Close.
MULTIPLICATION, WHEN QUALIFIED
One project first.
Pooling where it fits.
Suitable properties, equipment, material streams or operating businesses may later be pooled across projects.
Pooling is optional. Assets, participants, obligations, risks and financing terms must first be qualified. These are development concepts, not established pools or available financing products.
Explore capital participationA SHARED INDUSTRIAL OPPORTUNITY
Bring your part.
Build the whole.
A material stream, a property, industrial capability or a capital mandate. Let’s explore where it fits.
Find your role