<div dir="ltr">Hello Gentlemen,<br><br>I spoke with James this week regarding the Red River project in Texas. It appears the Military intends to handle the entire operation internally at their facility.<br><br>Their preferred approach is to purchase the necessary equipment directly from us and then have us train their in-house team. Given our current operational commitments, pursuing this approach doesn&#39;t align with our current strategy or capacity.  Unless we want to sell them equipment. <br><br>It seems the proposal from Forge Nano would be a better fit for their needs. Forge Nano&#39;s angle involves supplying them with everything required to manufacture their cells at the Red River location, following the setup of a new production facility.<br><br>Second part of this email is the term sheet attached with Forge Nano.  The term sheet lays out the roadmap for LBC to source US-made lithium-ion cells from Forge Nano across development and production phases, with commitments expected in the final agreement. It also outlines the mutual interest in joint development and commercialization of battery products and leaves open the door for other future collaborations as a co-packer for FN.  <div><br></div><div>Let me know your thoughts.</div><div><br></div><div>Best, <br><br>Jordan G. Wroblewski<br>Partner | President <br>Lithium Battery Company<br>Direct: (917) 266-5336<br><a href="mailto:jordan@lithiumbatterycompany.com">jordan@lithiumbatterycompany.com</a><br><a href="http://lithiumbatterycompany.com">Lithium Battery Company</a></div></div>