{"id":3283,"date":"2024-08-14T19:12:04","date_gmt":"2024-08-14T17:12:04","guid":{"rendered":"https:\/\/emerald-horizon.com\/thorium-ticket\/"},"modified":"2026-07-02T16:36:26","modified_gmt":"2026-07-02T14:36:26","slug":"invest","status":"publish","type":"page","link":"https:\/\/emerald-horizon.com\/en\/invest\/","title":{"rendered":"Invest"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"3283\" class=\"elementor elementor-3283 elementor-1560\" data-elementor-post-type=\"page\">\n\t\t\t\t<div class=\"elementor-element elementor-element-6ced288 e-con-full e-flex e-con e-parent\" data-id=\"6ced288\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t<div class=\"elementor-element elementor-element-4d8b913 frostedglass e-flex e-con-boxed e-con e-child\" data-id=\"4d8b913\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-4b6916d e-con-full e-flex e-con e-child\" data-id=\"4b6916d\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-2bf3725 elementor-hidden-widescreen elementor-hidden-desktop elementor-hidden-tablet elementor-widget elementor-widget-image\" data-id=\"2bf3725\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"2400\" height=\"2400\" src=\"https:\/\/emerald-horizon.com\/wp-content\/uploads\/2024\/08\/Thorium-Quadrat.png\" class=\"attachment-full size-full wp-image-3204\" alt=\"\" srcset=\"https:\/\/emerald-horizon.com\/wp-content\/uploads\/2024\/08\/Thorium-Quadrat.png 2400w, https:\/\/emerald-horizon.com\/wp-content\/uploads\/2024\/08\/Thorium-Quadrat-768x768.png 768w, https:\/\/emerald-horizon.com\/wp-content\/uploads\/2024\/08\/Thorium-Quadrat-1536x1536.png 1536w, https:\/\/emerald-horizon.com\/wp-content\/uploads\/2024\/08\/Thorium-Quadrat-2048x2048.png 2048w\" sizes=\"(max-width: 2400px) 100vw, 2400px\" title=\"\">\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8fcb7f8 elementor-widget elementor-widget-video\" data-id=\"8fcb7f8\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;youtube_url&quot;:&quot;https:\\\/\\\/www.youtube.com\\\/watch?v=n8acQV7dUGc&quot;,&quot;autoplay&quot;:&quot;yes&quot;,&quot;video_type&quot;:&quot;youtube&quot;,&quot;controls&quot;:&quot;yes&quot;}\" data-widget_type=\"video.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-wrapper elementor-open-inline\">\n\t\t\t<div class=\"elementor-video\"><\/div>\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-501e8dc elementor-widget elementor-widget-text-editor\" data-id=\"501e8dc\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-family: Times New Roman, serif;\">SMRX focuses on next-generation small modular reactors (SMRs) and integrated energy storage infrastructure for scalable, low-carbon baseload energy systems.<\/span><\/p><p><span style=\"font-family: Times New Roman, serif;\">Emerald Horizon AG shares have been listed on the stock exchange since 26.06.2026:<\/span><\/p><ul><li><span style=\"font-family: Times New Roman, serif;\">Trading venue: Official trading on the Vienna Stock Exchange \/ Xetra<\/span><\/li><li><span style=\"font-family: Times New Roman, serif;\">Ticker symbol: SMRX<\/span><\/li><li><span style=\"font-family: Times New Roman, serif;\">ISIN: AT0000A3UZE1<\/span><\/li><li><span style=\"font-family: Times New Roman, serif;\">Corporate structure: 3 subsidiaries (Austria, Slovakia, U.S.),<br \/>, as well as minority stakes in emerging markets in Asia and the Pacific region<\/span><\/li><li><span style=\"font-family: Times New Roman, serif;\">Valuation: ~\u20ac1 billion (As of July 1, 2026)<\/span><\/li><li><span style=\"font-family: Times New Roman, serif;\">Liquidity: Free float of ~25.1% (as of July 1, 2026: ~\u20ac250 million), 2 market makers, independent research coverage, and global investor outreach<\/span><\/li><\/ul><p><span style=\"font-family: Times New Roman, serif;\">The shares are admitted to trading pursuant to and based on the securities prospectus published on the issuer\u2019s website (https:\/\/emerald-horizon.com\/) and approved by the Financial Market Authority (FMA) on June 16, 2026. The securities prospectus contains the information required by law for investors and can be accessed free of charge via the following link: <\/span><\/p><p><a style=\"color: white; text-decoration: underline;\" href=\"https:\/\/emerald-horizon.com\/wp-content\/uploads\/2026\/06\/Kapitalmarktprospekt-Emerald-Horizon-AG.pdf\"><span style=\"font-family: Times New Roman, serif;\">https:\/\/emerald-horizon.com\/wp-content\/uploads\/2026\/06\/Kapitalmarktprospekt-Emerald-Horizon-AG.pdf<\/span><\/a><\/p><p><span style=\"font-family: Times New Roman, serif;\">Potential investors are strongly advised to read the prospectus before making an investment decision. Please note that the FMA\u2019s approval of the prospectus should not be construed as an endorsement of the securities by the FMA. <\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-97dbced elementor-widget elementor-widget-ucaddon_diamond_button\" data-id=\"97dbced\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"ucaddon_diamond_button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\n<!-- start Diamond Button -->\n<style>\/* widget: Diamond Button *\/\n\n#uc_diamond_button_elementor_97dbced.button-link {\n    text-decoration: none; \/* Remove underline *\/\n    display: inline-flex; \/* Make the link container an inline flex *\/\n}\n\n#uc_diamond_button_elementor_97dbced .button-container {\n    display: flex;\n    align-items: center;\n    background-color: transparent;\n    color: #FFFFFF;\n    font-weight: bold;\n    flex-wrap: nowrap; \/* Ensure no wrapping *\/\n    transition: transform 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transparent;\n    border-bottom: 30px solid transparent;\n    border-left: 30px solid #104D2A; \/* Triangle color *\/\n    margin-left: -3px; \/* Push triangle inward *\/\n    border-radius: 5px; \/* Slightly round corners *\/\n    transition: border-left-color 0.3s; \/* Add transition for hover effect *\/\n}\n\n#uc_diamond_button_elementor_97dbced:hover .button-container {\n    transform: scale(1.05); \/* Slightly scale up the button *\/\n}\n\n#uc_diamond_button_elementor_97dbced:hover .button-text {\n    background-color: #53992F; \/* Change background color on hover *\/\n}\n\n#uc_diamond_button_elementor_97dbced:hover .triangle-left {\n    border-right-color: #53992F; \/* Change triangle color on hover *\/\n}\n\n#uc_diamond_button_elementor_97dbced:hover .triangle-right {\n    border-left-color: #53992F; \/* Change triangle color on hover *\/\n}\n\n<\/style>\n\n<a href=\"#kontakt\" id=\"uc_diamond_button_elementor_97dbced\" class=\"button-link\">\n    <div class=\"button-container\">\n        <div class=\"triangle-left\"><\/div>\n        <div class=\"button-text\"><span  class=\"uc_style_diamond_button_elementor_text\" >REQUEST FURTHER INFORMATION<\/span><\/div>\n        <div class=\"triangle-right\"><\/div>\n    <\/div>\n<\/a>\n<!-- end Diamond Button -->\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-dfdfdb3 elementor-absolute elementor-widget elementor-widget-image\" data-id=\"dfdfdb3\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;_position&quot;:&quot;absolute&quot;}\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"632\" height=\"289\" src=\"https:\/\/emerald-horizon.com\/wp-content\/uploads\/2024\/08\/eh_Wabengitter_neg.svg\" class=\"attachment-large size-large wp-image-3073\" alt=\"\" title=\"\">\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-12959e0 e-flex e-con-boxed e-con e-parent\" data-id=\"12959e0\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-3ee4439 elementor-widget elementor-widget-html\" data-id=\"3ee4439\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t\t<style>.eh-need{\r\n  --eh-green:#104d2a;\r\n  --eh-green-soft:#2f7d4e;\r\n  --eh-text:#3c403b;\r\n  --eh-callout-bg:#e7e9e1;\r\n  font-family:\"Barlow Semi Condensed\",sans-serif;\r\n  box-sizing:border-box;\r\n  width:100%;\r\n}\r\n.eh-need *{box-sizing:border-box;}\r\n.eh-need__head{\r\n  display:flex;\r\n  align-items:flex-start;\r\n  gap:22px;\r\n}\r\n.eh-need__num{\r\n  flex:0 0 auto;\r\n  display:flex;\r\n  align-items:center;\r\n  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font-size:24px;\r\n  font-weight:700;\r\n  line-height:1.25;\r\n}\r\n.eh-need__list{\r\n  list-style:none;\r\n  margin:0;\r\n  padding:0;\r\n}\r\n.eh-need__list li{\r\n  position:relative;\r\n  padding-left:34px;\r\n  margin-bottom:16px;\r\n  color:var(--eh-text);\r\n  font-size:18px;\r\n  line-height:1.5;\r\n}\r\n.eh-need__list li:last-child{margin-bottom:0;}\r\n.eh-need__list li::before{\r\n  content:\"\\2192\";\r\n  position:absolute;\r\n  left:0;\r\n  top:0;\r\n  color:var(--eh-green-soft);\r\n  font-weight:600;\r\n}\r\n.eh-need__callout{\r\n  margin-top:32px;\r\n  background:var(--eh-callout-bg);\r\n  border-left:4px solid var(--eh-green-soft);\r\n  border-radius:0 4px 4px 0;\r\n  padding:26px 32px;\r\n}\r\n.eh-need__callout-label{\r\n  margin:0 0 12px;\r\n  color:var(--eh-green);\r\n  font-size:13px;\r\n  font-weight:700;\r\n  letter-spacing:2px;\r\n  text-transform:uppercase;\r\n}\r\n.eh-need__callout-text{\r\n  margin:0;\r\n  color:var(--eh-text);\r\n  font-size:18px;\r\n  font-weight:400;\r\n  line-height:1.6;\r\n}\r\n.eh-need__chart{margin:34px 0 0;}\r\n.eh-need__chart svg{display:block;width:100%;height:auto;}\r\n@media (max-width:600px){\r\n  .eh-need__title{font-size:30px;}\r\n  .eh-need__head{gap:16px;}\r\n  .eh-need__num{width:44px;height:44px;font-size:16px;}\r\n  .eh-need__lead,.eh-need__list li,.eh-need__callout-text{font-size:16px;}\r\n  .eh-need__statement{font-size:20px;}\r\n  .eh-need__callout{padding:22px 24px;}\r\n}\r\n<\/style><div class=\"eh-need\"><div class=\"eh-need__head\"><div class=\"eh-need__num\">01<\/div><div class=\"eh-need__headtext\"><h2 class=\"eh-need__title\">Is there a structural market demand?<\/h2><p class=\"eh-need__verdict\">Finding: Yes \u2014 politically anchored and demand-driven.<\/p><\/div><\/div><p class=\"eh-need__lead\">The demand for CO\u2082-free, baseload-capable energy and storage infrastructure is no longer a matter of debate but official policy. The European Industrial Alliance for Small Modular Reactors has more than 350 members and adopted its first Strategic Action Plan 2025\u20132029 with ten targeted measures in September 2025 \u2014 with the goal of deploying the first SMR projects in Europe in the early 2030s. A dedicated SMR strategy from the EU Commission is announced for 2026.<\/p><p class=\"eh-need__sublabel\">Who drives the demand<\/p><ul class=\"eh-need__list\"><li>AI &amp; data centers: enormous, predictable baseload demand off the grid.<\/li><li>Energy-intensive industry: high-temperature heat, hydrogen, and electricity for steel, chemicals, cement.<\/li><li>Critical infrastructure &amp; grid stability: redundant, decentralized supply.<\/li><li>Renewables need storage: volatile wind\/solar power only becomes baseload-capable with storage.<\/li><li>Emerging markets &amp; islands: supply even without a grid connection.<\/li><li>Transport: ship propulsion, EV charging stations via electricity, and aircraft fuel via e.g.&nbsp;hydrogen.<\/li><\/ul><div class=\"eh-need__callout\"><p class=\"eh-need__statement\">Why now<\/p><p class=\"eh-need__callout-text\">Emerald Horizon addresses both sides of this demand \u2014 storage today, generation tomorrow \u2014 exactly within the window of the largest European nuclear and storage funding initiative in decades.<\/p><p class=\"eh-need__lead\"><strong>The energy market forces investors to choose:<\/strong> early liquidity or long-term scale.<\/p><p class=\"eh-need__lead\">What delivers returns quickly \u2013 solar, classic storage \u2013 stays small and low-margin. What truly grows large \u2013 nuclear, 40+ GW \u2013 requires years of lead time before the first euro flows.<\/p><p class=\"eh-need__statement\">SMRX resolves this trade-off.<\/p><p class=\"eh-need__lead\"><strong>Scale \u2013 without waiting out the lead time.<\/strong> The multi-year build-up that the nuclear path inevitably requires is already behind us. We started in 2019 \u2013 not today, amid the emerging hype.<\/p><p class=\"eh-need__lead\"><strong>Early returns \u2013 independent of the nuclear path.<\/strong> SMRX does not earn through nuclear power alone. With our own IP, CALStore, we additionally tap the thermal market: a separate, high-margin revenue source that carries today \u2013 independent of the ramp-up of the deep tech.<\/p><p class=\"eh-need__lead\"><strong>The result:<\/strong> investors no longer have to choose. SMRX delivers both.<\/p><\/div><div class=\"eh-need__chart\"><svg viewBox=\"0 0 820 430\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" role=\"img\" aria-label=\"Kurvendiagramm: zubaubare Kapazit\u00e4t in GW \u00fcber Years from development start, je Technologiepfad.\"><defs><linearGradient id=\"ehNuc\" x1=\"0\" y1=\"0\" x2=\"0\" y2=\"1\"><stop offset=\"0%\" stop-color=\"#0B3D2E\" stop-opacity=\"0.85\"><\/stop><stop offset=\"100%\" stop-color=\"#0B3D2E\" stop-opacity=\"0.30\"><\/stop><\/linearGradient><linearGradient id=\"ehSolar\" x1=\"0\" y1=\"0\" x2=\"0\" y2=\"1\"><stop offset=\"0%\" stop-color=\"#3E7C66\" stop-opacity=\"0.40\"><\/stop><stop offset=\"100%\" stop-color=\"#3E7C66\" stop-opacity=\"0.10\"><\/stop><\/linearGradient><linearGradient id=\"ehAmber\" x1=\"0\" y1=\"0\" x2=\"0\" y2=\"1\"><stop offset=\"0%\" stop-color=\"#C9972A\" stop-opacity=\"0.45\"><\/stop><stop offset=\"100%\" stop-color=\"#C9972A\" stop-opacity=\"0.10\"><\/stop><\/linearGradient><\/defs><line x1=\"70\" y1=\"20\" x2=\"70\" y2=\"360\" stroke=\"#0B3D2E\" stroke-width=\"1.5\"><\/line><line x1=\"70\" y1=\"360\" x2=\"795\" y2=\"360\" stroke=\"#0B3D2E\" stroke-width=\"1.5\"><\/line><g font-family=\"Barlow Semi Condensed, sans-serif\" font-size=\"11\" fill=\"#8A8475\"><line x1=\"70\" y1=\"320\" x2=\"795\" y2=\"320\" stroke=\"#E3DED2\" stroke-width=\"1\"><\/line><text x=\"58\" y=\"324\" text-anchor=\"end\">4<\/text><line x1=\"70\" y1=\"235\" x2=\"795\" y2=\"235\" stroke=\"#E3DED2\" stroke-width=\"1\"><\/line><text x=\"58\" y=\"239\" text-anchor=\"end\">8<\/text><line x1=\"70\" y1=\"150\" x2=\"795\" y2=\"150\" stroke=\"#E3DED2\" stroke-width=\"1\"><\/line><text x=\"58\" y=\"154\" text-anchor=\"end\">12<\/text><line x1=\"70\" y1=\"65\" x2=\"795\" y2=\"65\" stroke=\"#E3DED2\" stroke-width=\"1\"><\/line><text x=\"58\" y=\"69\" text-anchor=\"end\">16<\/text><text x=\"58\" y=\"364\" text-anchor=\"end\">0<\/text><\/g><g font-family=\"Barlow Semi Condensed, sans-serif\" font-size=\"11\" fill=\"#8A8475\" text-anchor=\"middle\"><text x=\"70\" y=\"382\">0<\/text><text x=\"173\" y=\"382\">2<\/text><text x=\"277\" y=\"382\">4<\/text><text x=\"380\" y=\"382\">6<\/text><text x=\"484\" y=\"382\">8<\/text><text x=\"587\" y=\"382\">10<\/text><text x=\"691\" y=\"382\">12<\/text><text x=\"794\" y=\"382\">14<\/text><\/g><path d=\"M120,360 C150,360 160,343 215,341 C270,343 285,360 320,360 Z\" fill=\"url(#ehAmber)\" stroke=\"#C9972A\" stroke-width=\"1.2\"><\/path><path d=\"M170,360 C220,360 230,270 235,268 C300,270 330,360 400,360 Z\" fill=\"url(#ehSolar)\" stroke=\"#3E7C66\" stroke-width=\"1.2\"><\/path><path d=\"M230,360 C280,360 300,308 348,306 C396,308 420,360 470,360 Z\" fill=\"url(#ehSolar)\" stroke=\"#3E7C66\" stroke-width=\"1\" opacity=\"0.7\"><\/path><path d=\"M170,360 C185,360 188,84 189,84 C190,84 198,360 215,360 Z\" fill=\"#3E7C66\" fill-opacity=\"0.18\" stroke=\"#3E7C66\" stroke-width=\"1.4\"><\/path><path d=\"M400,360\r\n               C430,359 470,356 484,353\r\n               C500,349 512,335 535,333\r\n               C558,335 575,352 600,355\r\n               C640,357 650,345 668,335\r\n               C700,300 715,110 742,98\r\n               C772,110 788,300 800,352\r\n               C805,357 808,360 812,360 Z\" fill=\"url(#ehNuc)\" stroke=\"#0B3D2E\" stroke-width=\"1.6\"><\/path><g font-family=\"Barlow Semi Condensed, sans-serif\" font-size=\"11\" fill=\"#3A3A33\"><text x=\"189\" y=\"76\" text-anchor=\"middle\" font-weight=\"600\">Solar+BESS (IA) \u00b7 16 GW<\/text><text x=\"300\" y=\"250\" text-anchor=\"middle\">Solar+BESS (thermal replacement) \u00b7 5 GW<\/text><text x=\"360\" y=\"295\" text-anchor=\"middle\">Solar+BESS (Off-Grid) \u00b7 2 GW<\/text><text x=\"480\" y=\"330\" text-anchor=\"middle\">Gas+CCS \u00b7 2 GW<\/text><text x=\"170\" y=\"335\" text-anchor=\"middle\">Geothermal \u00b7 1 GW<\/text><text x=\"560\" y=\"345\" text-anchor=\"middle\" font-weight=\"600\">Nuclear (uprates) \u00b7 3 GW<\/text><text x=\"742\" y=\"85\" text-anchor=\"middle\" font-weight=\"700\" fill=\"#0B3D2E\">Nuclear \u00b7 40 GW<\/text><\/g><text x=\"432\" y=\"412\" text-anchor=\"middle\" font-family=\"Barlow Semi Condensed, sans-serif\" font-size=\"12.5\" font-weight=\"600\" fill=\"#0B3D2E\">Years from development start<\/text><text x=\"22\" y=\"190\" text-anchor=\"middle\" font-family=\"Barlow Semi Condensed, sans-serif\" font-size=\"12.5\" font-weight=\"600\" fill=\"#0B3D2E\" transform=\"rotate(-90 22 190)\">Potential capacity (GW)<\/text><\/svg><\/div><\/div>\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-f58bb5f e-flex e-con-boxed e-con e-parent\" data-id=\"f58bb5f\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-a5ec6a6 elementor-widget elementor-widget-html\" data-id=\"a5ec6a6\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t\t<style>.eh-tech{\r\n  --eh-green:#104d2a;\r\n  --eh-green-soft:#2f7d4e;\r\n  --eh-gold:#cfa24c;\r\n  --eh-text:#3c403b;\r\n  --eh-muted:#6f7a6e;\r\n  --eh-border:#d6d3c5;\r\n  --eh-callout-bg:#f3ece4;\r\n  font-family:\"Barlow Semi Condensed\",sans-serif;\r\n  box-sizing:border-box;\r\n  width:100%;\r\n}\r\n.eh-tech *{box-sizing:border-box;}\r\n.eh-tech__head{display:flex;align-items:flex-start;gap:22px;}\r\n.eh-tech__num{\r\n  flex:0 0 auto;\r\n  display:flex;\r\n  align-items:center;\r\n  justify-content:center;\r\n  width:52px;\r\n  height:52px;\r\n  border-radius:50%;\r\n  background:var(--eh-green);\r\n  color:#ffffff;\r\n  font-size:18px;\r\n  font-weight:700;\r\n  letter-spacing:1px;\r\n}\r\n.eh-tech__title{\r\n  margin:0 0 12px;\r\n  color:var(--eh-green);\r\n  font-size:40px;\r\n  font-weight:700;\r\n  line-height:1.15;\r\n}\r\n.eh-tech__verdict{\r\n  margin:0;\r\n  color:var(--eh-green-soft);\r\n  font-size:13px;\r\n  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var(--eh-border);\r\n  border-radius:3px;\r\n  padding:7px 14px;\r\n  color:var(--eh-muted);\r\n  font-size:11px;\r\n  font-weight:600;\r\n  letter-spacing:2px;\r\n  text-transform:uppercase;\r\n  white-space:nowrap;\r\n}\r\n.eh-tech__badge--partner{\r\n  background:var(--eh-gold);\r\n  border-color:var(--eh-gold);\r\n  color:var(--eh-green);\r\n}\r\n.eh-tech__chainverdict{\r\n  background:var(--eh-green);\r\n  padding:22px 26px;\r\n}\r\n.eh-tech__chainverdict p{\r\n  margin:0;\r\n  color:#ffffff;\r\n  font-size:16px;\r\n  line-height:1.55;\r\n}\r\n.eh-tech__chainverdict strong{color:var(--eh-gold);font-weight:700;}\r\n.eh-tech__source{\r\n  margin:16px 0 0;\r\n  color:var(--eh-muted);\r\n  font-size:12px;\r\n  line-height:1.5;\r\n}\r\n.eh-tech__callout{\r\n  margin-top:34px;\r\n  background:var(--eh-callout-bg);\r\n  border-left:4px solid var(--eh-gold);\r\n  border-radius:0 4px 4px 0;\r\n  padding:26px 32px;\r\n}\r\n.eh-tech__callout-label{\r\n  margin:0 0 12px;\r\n  color:var(--eh-gold);\r\n  font-size:13px;\r\n  font-weight:700;\r\n  letter-spacing:2px;\r\n  text-transform:uppercase;\r\n}\r\n.eh-tech__callout-text{\r\n  margin:0;\r\n  color:var(--eh-text);\r\n  font-size:18px;\r\n  font-weight:400;\r\n  line-height:1.6;\r\n}\r\n@media (max-width:600px){\r\n  .eh-tech__title{font-size:30px;}\r\n  .eh-tech__head{gap:16px;}\r\n  .eh-tech__num{width:44px;height:44px;font-size:16px;}\r\n  .eh-tech__lead,.eh-tech__list li,.eh-tech__callout-text{font-size:16px;}\r\n  .eh-tech__row{flex-wrap:wrap;padding:20px;}\r\n  .eh-tech__rowbadge{flex-basis:100%;margin-top:6px;}\r\n  .eh-tech__callout{padding:22px 24px;}\r\n}\r\n<\/style><div class=\"eh-tech\"><div class=\"eh-tech__head\"><div class=\"eh-tech__num\">02<\/div><div class=\"eh-tech__headtext\"><h2 class=\"eh-tech__title\">Is the technology feasible?<\/h2><p class=\"eh-tech__verdict\">Finding: Every component is physically validated \u2014 the task is integration, not invention.<\/p><\/div><\/div><p class=\"eh-tech__sublabel\">The concept<\/p><p class=\"eh-tech__lead\">ADES (Accelerator Driven Energy Source) combines thorium in molten salt with a particle accelerator to produce CO\u2082-free energy. The scientific basis is the Energy Amplifier concept developed by Carlo Rubbia (Nobel Prize in Physics 1984, former CERN Director-General). Four properties characterize the approach: mini-modular (compact 8 m accelerator), 100 % thorium (no plutonium, no uranium-235\/238), subcritical (no chain reaction), and switchable on\/off via the neutron injector.<\/p><p class=\"eh-tech__sublabel\">Physical distinguishing features<\/p><ul class=\"eh-tech__list\"><li>No critical chain reaction \u2192 no explosion risk, no meltdown risk.<\/li><li>No plutonium, no uranium-235 \u2192 no weapons-grade material, no uncontrolled transuranic waste.<\/li><li>~80% of the thorium is converted into energy; ~0% transuranic waste \u2014 only fission products with short half-lives.<\/li><li>No thallium-208 production.<\/li><li>Thorium energy density: 0.34 barrels of thorium deliver the same 4.4 TWh as 2.8 million barrels of oil \u2014 20 years of operation without refueling.<\/li><\/ul><p class=\"eh-tech__sublabel\">ADES Physics Proof Chain \u2014 every component individually validated<\/p><p class=\"eh-tech__lead eh-tech__lead--intro\">The physics underlying ADES is validated; the remaining challenge is system integration and scaling \u2013 exactly what the Tier-1 partner VDL Groep delivers.<\/p><div class=\"eh-tech__chain\"><div class=\"eh-tech__row\"><div class=\"eh-tech__rownum\">1<\/div><div class=\"eh-tech__rowmain\"><h4 class=\"eh-tech__rowtitle\">Neutron production via accelerator<\/h4><p class=\"eh-tech__rowtext\">High-energy proton linacs generate neutrons for subcritical systems \u2013 proven in spallation sources worldwide.<\/p><p class=\"eh-tech__rowsrc\">CERN \u00b7 CERN n_TOF \u00b7 PSI SINQ<\/p><\/div><div class=\"eh-tech__rowbadge\"><span class=\"eh-tech__badge\">Proven<\/span><\/div><\/div><div class=\"eh-tech__row\"><div class=\"eh-tech__rownum\">2<\/div><div class=\"eh-tech__rowmain\"><h4 class=\"eh-tech__rowtitle\">Thorium \u2192 U-233 Transmutation<\/h4><p class=\"eh-tech__rowtext\">Th-232 converts via neutron capture and beta decay into fissile U-233; 60\u201390 % FIMA achievable.<\/p><p class=\"eh-tech__rowsrc\">IAEA Thorium Fuel Cycle \u00b7 ORNL Molten Salt Reactor Experiment<\/p><\/div><div class=\"eh-tech__rowbadge\"><span class=\"eh-tech__badge\">Proven<\/span><\/div><\/div><div class=\"eh-tech__row\"><div class=\"eh-tech__rownum\">3<\/div><div class=\"eh-tech__rowmain\"><h4 class=\"eh-tech__rowtitle\">Heat generation (subcritical ADS)<\/h4><p class=\"eh-tech__rowtext\">Controlled thermal energy through subcritical fission, sustained by an external neutron source \u2013 exclusively subcritical.<\/p><p class=\"eh-tech__rowsrc\">MYRRHA \/ SCK CEN \u00b7 GUINEVERE \u00b7 Forschungszentrum J\u00fclich<\/p><\/div><div class=\"eh-tech__rowbadge\"><span class=\"eh-tech__badge\">Proven<\/span><\/div><\/div><div class=\"eh-tech__row\"><div class=\"eh-tech__rownum\">4<\/div><div class=\"eh-tech__rowmain\"><h4 class=\"eh-tech__rowtitle\">Heat transfer & energy conversion<\/h4><p class=\"eh-tech__rowtext\">Thermal energy transferred via HTHX, converted into electricity (Rankine or sCO\u2082 Brayton cycle).<\/p><p class=\"eh-tech__rowsrc\">Los Alamos National Lab \u00b7 US DOE \u00b7 DLR<\/p><\/div><div class=\"eh-tech__rowbadge\"><span class=\"eh-tech__badge\">Proven<\/span><\/div><\/div><div class=\"eh-tech__row\"><div class=\"eh-tech__rownum\">5<\/div><div class=\"eh-tech__rowmain\"><h4 class=\"eh-tech__rowtitle\">System integration & industrialization<\/h4><p class=\"eh-tech__rowtext\">Scaling validated components into series-ready, container-sized modules \u2013 precision manufacturing at industrial scale.<\/p><p class=\"eh-tech__rowsrc\">VDL Groep \u00b7 ASML\/PALLAS\/Thorizon-Zulieferer \u00b7 EU Industrial Alliance on SMRs<\/p><\/div><div class=\"eh-tech__rowbadge\"><span class=\"eh-tech__badge eh-tech__badge--partner\">VDL Partner<\/span><\/div><\/div><div class=\"eh-tech__chainverdict\"><p><strong>Finding:<\/strong> Every ADES component has independent physical validation. The remaining challenge is integration \u2013 delivered by VDL Groep.<\/p><\/div><\/div><p class=\"eh-tech__source\">Sources: CERN, IAEA, Oak Ridge National Laboratory, SCK CEN\/MYRRHA, PSI, Los Alamos National Laboratory, US DOE, DLR, VDL Groep (public publications). Full reference list in the Emerald Horizon validation document.<\/p><p class=\"eh-tech__sublabel\">Three scaling stages \u2014 from proven technology to GW output<\/p><p class=\"eh-tech__lead\"><strong>Stage 1 (proven):<\/strong> A compact accelerator \u2248 1 MW already exists as TRL-9 medical technology (AD-BNCT). <strong>Stage 2 (ADES innovation):<\/strong> The closed geometry of the thorium molten-salt loop enables continuous operation and subcritical neutron-flux amplification to 25 MW(th) \/ 10 MW(el). <strong>Stage 3 (grid scale):<\/strong> 100 identical modules in parallel = 1 GW \u2014 at the point of demand, without large grid infrastructure.<\/p><p class=\"eh-tech__sublabel\">Why VDL Groep is the decisive partner<\/p><p class=\"eh-tech__lead\">VDL Groep (around 15,000 employees, ~\u20ac6.2 billion revenue) is a Dutch industrial group that masters exactly what separates ADES from a prototype: precision manufacturing and system integration at series scale. VDL is, among other things, a supplier to ASML, a partner in the PALLAS reactor project, and a co-developer of the molten-salt reactor of Thorizon \u2014 thus already deeply rooted in high-tech and nuclear manufacturing.<\/p><p class=\"eh-tech__lead\">The real lever lies in the model: VDL runs <strong>co-development and manufacturing simultaneously<\/strong>. Instead of fully developing ADES first and then looking for a manufacturing partner, series manufacturability is co-engineered from the start. This decisively shortens time-to-market \u2014 the jump from TRL-9 validation to series production happens without the otherwise typical, years-long industrialization break. For Emerald Horizon this means: no own factory build-up, no engineering risk \u2014 what remains is a replication risk, not an invention risk.<\/p><p class=\"eh-tech__sublabel\">Already real today: the storage product<\/p><p class=\"eh-tech__lead\">DUALstore PLUS is not a concept but real hardware: the Estore component (BESS) is available, and the CALstore high-temperature component (TESS, prototype cell validated, FFG-funded) is going into series production via VDL. This demonstrates industrial implementation capability before the energy source is finished.<\/p><div class=\"eh-tech__callout\"><p class=\"eh-tech__callout-label\">Honest maturity level<\/p><p class=\"eh-tech__callout-text\">According to our internal classification, ADES is at TRL 4.5 and is therefore technology in the prototype phase \u2014 not yet commercially available (completion expected in 2029). We deliberately communicate this distinction transparently.<\/p><\/div><\/div>\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-d434239 e-flex e-con-boxed e-con e-parent\" data-id=\"d434239\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-be2e609 elementor-widget elementor-widget-html\" data-id=\"be2e609\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t\t<style>.eh-reg{\r\n  --eh-green:#104d2a;\r\n  --eh-green-soft:#2f7d4e;\r\n  --eh-text:#3c403b;\r\n  --eh-callout-bg:#e7e9e1;\r\n  font-family:\"Barlow Semi Condensed\",sans-serif;\r\n  box-sizing:border-box;\r\n  width:100%;\r\n}\r\n.eh-reg *{box-sizing:border-box;}\r\n.eh-reg__head{display:flex;align-items:flex-start;gap:22px;}\r\n.eh-reg__num{\r\n  flex:0 0 auto;\r\n  display:flex;\r\n  align-items:center;\r\n  justify-content:center;\r\n  width:52px;\r\n  height:52px;\r\n  border-radius:50%;\r\n  background:var(--eh-green);\r\n  color:#ffffff;\r\n  font-size:18px;\r\n  font-weight:700;\r\n  letter-spacing:1px;\r\n}\r\n.eh-reg__title{\r\n  margin:0 0 12px;\r\n  color:var(--eh-green);\r\n  font-size:40px;\r\n  font-weight:700;\r\n  line-height:1.15;\r\n}\r\n.eh-reg__verdict{\r\n  margin:0;\r\n  color:var(--eh-green-soft);\r\n  font-size:13px;\r\n  font-weight:600;\r\n  letter-spacing:2px;\r\n  text-transform:uppercase;\r\n}\r\n.eh-reg__lead{\r\n  margin:28px 0 0;\r\n  color:var(--eh-text);\r\n  font-size:18px;\r\n  font-weight:400;\r\n  line-height:1.6;\r\n}\r\n.eh-reg__sublabel{\r\n  margin:36px 0 18px;\r\n  color:var(--eh-green);\r\n  font-size:14px;\r\n  font-weight:700;\r\n  letter-spacing:2px;\r\n  text-transform:uppercase;\r\n}\r\n.eh-reg__list{list-style:none;margin:0;padding:0;}\r\n.eh-reg__list li{\r\n  position:relative;\r\n  padding-left:34px;\r\n  margin-bottom:16px;\r\n  color:var(--eh-text);\r\n  font-size:18px;\r\n  line-height:1.5;\r\n}\r\n.eh-reg__list li:last-child{margin-bottom:0;}\r\n.eh-reg__list li::before{\r\n  content:\"\\2192\";\r\n  position:absolute;\r\n  left:0;\r\n  top:0;\r\n  color:var(--eh-green-soft);\r\n  font-weight:600;\r\n}\r\n.eh-reg__callout{\r\n  margin-top:32px;\r\n  background:var(--eh-callout-bg);\r\n  border-left:4px solid var(--eh-green-soft);\r\n  border-radius:0 4px 4px 0;\r\n  padding:26px 32px;\r\n}\r\n.eh-reg__callout-label{\r\n  margin:0 0 12px;\r\n  color:var(--eh-green);\r\n  font-size:13px;\r\n  font-weight:700;\r\n  letter-spacing:2px;\r\n  text-transform:uppercase;\r\n}\r\n.eh-reg__callout-text{\r\n  margin:0;\r\n  color:var(--eh-text);\r\n  font-size:18px;\r\n  font-weight:400;\r\n  line-height:1.6;\r\n}\r\n@media (max-width:600px){\r\n  .eh-reg__title{font-size:30px;}\r\n  .eh-reg__head{gap:16px;}\r\n  .eh-reg__num{width:44px;height:44px;font-size:16px;}\r\n  .eh-reg__lead,.eh-reg__list li,.eh-reg__callout-text{font-size:16px;}\r\n  .eh-reg__callout{padding:22px 24px;}\r\n}\r\n<\/style><div class=\"eh-reg\"><div class=\"eh-reg__head\"><div class=\"eh-reg__num\">03<\/div><div class=\"eh-reg__headtext\"><h2 class=\"eh-reg__title\">Is the licensing path viable?<\/h2><p class=\"eh-reg__verdict\">Finding: Structurally more favorable than any classic SMR.<\/p><\/div><\/div><p class=\"eh-reg__sublabel\">Physical regulatory advantage<\/p><p class=\"eh-reg__lead\">No critical chain reaction means a fundamentally different regulatory starting point than with classic SMRs. The 'non-criticality' classification is physically grounded, not just a marketing term: subcritical operation, no plutonium\/HEU, no weapons-grade material, and no Tl-208 formation. According to IAEA INFCIRC\/153, thorium corresponds to a safeguards weight of 0.00005 ekg\/kg \u2013 around 20,000\u00d7 lower than plutonium.<\/p><p class=\"eh-reg__lead\">On the regulatory spectrum, ADES therefore sits between classic nuclear power (critical chain reaction, 10\u201320 years of licensing) and Gen-IV SMRs ('nuclear adjacent'): subcritical, exclusively thorium, an expected low safeguards level, and fast-track licensing.<\/p><p class=\"eh-reg__sublabel\">Compliance partners already active<\/p><ul class=\"eh-reg__list\"><li>Haskoning (NL): EU regulatory path, already in implementation.<\/li><li>Pillsbury Winthrop Shaw Pittman LLP (US): US classification &amp; licensing assessment.<\/li><li>FFG-funded development of central components with regular audits \u2013 productive research substance instead of startup narrative.<\/li><\/ul><p class=\"eh-reg__lead\">Haskoning is no arbitrary consultant here: the Dutch engineering and consulting firm has been active in the nuclear industry for decades and knows the approval procedures of European nuclear authorities from its own project practice. For nuclear licensing this is decisive, because the value lies not in a report but in preparing the technical design from the start so that it withstands the regulatory review grid \u2013 and in conducting the dialogue with the authorities with the necessary reputation. It is precisely this technical validation along the entire regulatory process that Haskoning handles.<\/p><div class=\"eh-reg__callout\"><p class=\"eh-reg__callout-label\">Doubly secured<\/p><p class=\"eh-reg__callout-text\">The storage product DUALstore PLUS is not subject to any nuclear regulation \u2013 it follows standard industrial approval. The early revenue stream is therefore regulatorily decoupled from the nuclear path.<\/p><\/div><\/div>\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-8823407 e-flex e-con-boxed e-con e-parent\" data-id=\"8823407\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-50a5fd4 elementor-widget elementor-widget-html\" data-id=\"50a5fd4\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t\t<style>.eh-fin{\r\n  --eh-green:#104d2a;\r\n  --eh-green-soft:#2f7d4e;\r\n  --eh-text:#3c403b;\r\n  font-family:\"Barlow Semi Condensed\",sans-serif;\r\n  box-sizing:border-box;\r\n  width:100%;\r\n}\r\n.eh-fin *{box-sizing:border-box;}\r\n.eh-fin__head{display:flex;align-items:flex-start;gap:22px;}\r\n.eh-fin__num{\r\n  flex:0 0 auto;\r\n  display:flex;\r\n  align-items:center;\r\n  justify-content:center;\r\n  width:52px;\r\n  height:52px;\r\n  border-radius:50%;\r\n  background:var(--eh-green);\r\n  color:#ffffff;\r\n  font-size:18px;\r\n  font-weight:700;\r\n  letter-spacing:1px;\r\n}\r\n.eh-fin__title{\r\n  margin:0 0 12px;\r\n  color:var(--eh-green);\r\n  font-size:40px;\r\n  font-weight:700;\r\n  line-height:1.15;\r\n}\r\n.eh-fin__verdict{\r\n  margin:0;\r\n  color:var(--eh-green-soft);\r\n  font-size:13px;\r\n  font-weight:600;\r\n  letter-spacing:2px;\r\n  text-transform:uppercase;\r\n}\r\n.eh-fin__lead{\r\n  margin:28px 0 0;\r\n  color:var(--eh-text);\r\n  font-size:18px;\r\n  font-weight:400;\r\n  line-height:1.6;\r\n}\r\n.eh-fin__sublabel{\r\n  margin:36px 0 18px;\r\n  color:var(--eh-green);\r\n  font-size:14px;\r\n  font-weight:700;\r\n  letter-spacing:2px;\r\n  text-transform:uppercase;\r\n}\r\n.eh-fin__list{list-style:none;margin:18px 0 0;padding:0;}\r\n.eh-fin__list li{\r\n  position:relative;\r\n  padding-left:34px;\r\n  margin-bottom:16px;\r\n  color:var(--eh-text);\r\n  font-size:18px;\r\n  line-height:1.5;\r\n}\r\n.eh-fin__list li:last-child{margin-bottom:0;}\r\n.eh-fin__list li::before{\r\n  content:\"\\2192\";\r\n  position:absolute;\r\n  left:0;\r\n  top:0;\r\n  color:var(--eh-green-soft);\r\n  font-weight:600;\r\n}\r\n@media (max-width:600px){\r\n  .eh-fin__title{font-size:30px;}\r\n  .eh-fin__head{gap:16px;}\r\n  .eh-fin__num{width:44px;height:44px;font-size:16px;}\r\n  .eh-fin__lead,.eh-fin__list li{font-size:16px;}\r\n}\r\n<\/style><div class=\"eh-fin\"><div class=\"eh-fin__head\"><div class=\"eh-fin__num\">04<\/div><div class=\"eh-fin__headtext\"><h2 class=\"eh-fin__title\">Is the financing of the prototypes secured?<\/h2><p class=\"eh-fin__verdict\">Finding: DUALstore PLUS financed \u00b7 ADES prototype backed by funding &amp; shareholder commitments.<\/p><\/div><\/div><p class=\"eh-fin__lead\">The central question is not how much the end product could be worth, but whether the two prototypes are fully financed through to market readiness. Here the answer splits into two clear strands.<\/p><p class=\"eh-fin__sublabel\">DUALstore PLUS \u2014 fully financed<\/p><p class=\"eh-fin__lead\">The prototype of the storage product is financed. The first, regulatorily decoupled revenue stream is therefore not dependent on further capital rounds \u2013 it forms the cash-flow basis that supports the ramp-up of the energy source.<\/p><p class=\"eh-fin__sublabel\">ADES \u2014 the path to series production requires less capital than the scale of the vision would suggest.<\/p><p class=\"eh-fin__lead\">The path of the SMRX system \u2013 consisting of ADES and CALstore \u2013 to a market-ready product requires a total investment of approximately \u20ac225 million: around \u20ac75 million for the prototype and around \u20ac150 million for the subsequent transition to series production. This is significantly less capital than the scale of the vision might suggest, because three of the most expensive cost components of conventional nuclear projects are systematically eliminated: No large-scale power plant \u2013 container-sized modules instead of a multi-billion-euro mega-project. Minimal grid expansion \u2013 decentralized generation at the point of demand eliminates the need for expensive high-voltage infrastructure. No dedicated factory \u2013 manufacturing, supply chain, and quality assurance are handled by our Tier 1 partner, VDL Groep. We are addressing the regulatory requirements together with our partner, Haskoning.<\/p>\r\n<p class=\"eh-fin__lead\">Following this de-risking, the immediate next step is the development and <b>construction of the prototype, requiring approximately EUR 75 million in capital.<\/b> This will be covered by a financing mix of equity from the main shareholders and public funding. Funding from the Austrian Research Promotion Agency (FFG) has already been provided for the development of key components. For further development phases, we intend to <b>strategically access additional funding programs at the national and European levels, thereby further leveraging the impact of the equity injection.<\/b><\/p>\r\n<p class=\"eh-fin__lead\">On June 30, 2026, CEO and majority shareholder Florian Wagner, as lead investor, committed at the official Supervisory Board meeting to provide the company with an additional \u20ac20 million in equity capital in four tranches over a two-year period, in addition to the \u20ac5 million equity financing already provided in June 2026 \u2013 with co-investments from the second-largest shareholder, MMag. Philipp P\u00f6lzl, and the new investor, Carl Page <b>(totaling \u20ac25 million).<\/b> The funds will be used primarily for the collaboration with Tier 1 partner VDL Groep on the co-development of the ADES prototype and for deepening regulatory cooperation with Haskoning DHV.<\/p>\r\n\r\n<ul class=\"eh-fin__list\"><li>No large power plant: container-sized modules instead of a billion-euro mega-project \u2013 this eliminates the largest single cost block and its risk.<\/li><li>Hardly any grid expansion: decentralized generation at the point of demand makes expensive high-voltage infrastructure unnecessary.<\/li><li>No own factory: manufacturing, supply chain, and QA are handled by the Tier-1 partner VDL Groep (asset-light) \u2013 no greenfield CAPEX.<\/li><\/ul><p class=\"eh-fin__lead\">What remains as the actual capital requirement for the prototype after this de-risking is manageable \u2013 and is covered from two sources: a state funding program and commitments from the main shareholders.<\/p><p class=\"eh-fin__sublabel\">Prototype financing and transition to series production in detail<\/p><p class=\"eh-fin__lead\">The equity injection already realized in June 2026 by the majority shareholder (EUR 5 million) and the additional equity financing committed according to the ad-hoc announcement of June 30, 2026 (EUR 20 million in four tranches over four six-month periods) \u2013 totaling <b>EUR 25 million<\/b> \u2013 together with the planned funding programs, result <b>in a multiplier effect<\/b>. This alone provides sufficient and substantial funding for the ADES prototype (CAPEX requirement approx. <b>EUR 75 million<\/b>).<\/p>\r\n<p class=\"eh-fin__lead\">The remaining capital requirement for transitioning to series production is expected to become relevant in the period from late 2028 to 2029 and is currently estimated at around EUR 150 million. At that point, we anticipate being very close to having a fully functional prototype or being able to present one in its entirety. We therefore expect a capital increase with a comparatively low dilution effect for existing shareholders \u2013 a significantly higher valuation would then keep the number of newly issued shares correspondingly low.<\/p>\r\n    \r\n    <p class=\"eh-fin__lead\">Series production itself is financed through long-term power purchase agreements (PPAs) in the Energy-as-a-Service model. These create a credit-checked, recurring cash flow and thus enable predominantly debt-based financing at the project level \u2013 analogous to the model already established for DUALstore PLUS.<\/p>\r\n\r\n<p class=\"eh-fin__sublabel\">EaaS \u2014 bankable instead of equity-hungry<\/p><p class=\"eh-fin__lead\">The Energy-as-a-Service model is designed so that scaling runs not primarily on equity but on debt financing: every installation is underpinned by bankable contracts of up to 20 years. Three factors increase the probability of success:<\/p><ul class=\"eh-fin__list\"><li>Complete EaaS financial prototype already run through: the entire cycle \u2013 contract, bank financing, delivery, ongoing revenue \u2013 has been tested end-to-end. The model is therefore not theoretical but practically validated. (Raiffeisenbank St. P\u00f6lten, PV contracting)<\/li><li>Easier access to debt capital: a listed company gains significantly easier and cheaper access to bank loans, investment-grade debt, and project financing \u2013 exactly the financing backbone that carries EaaS scaling.<\/li><li>Institutional enabler: Prof. Dr. Robert Holzmann (with, among other things, a former central-bank background) strengthens access to EaaS financing, green-bond eligibility, and institutional capital.<\/li><\/ul><\/div>\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-09eb183 e-flex e-con-boxed e-con e-parent\" data-id=\"09eb183\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-a2aa7e3 elementor-widget elementor-widget-html\" data-id=\"a2aa7e3\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t\t<style>.eh-road{\r\n  --eh-green:#104d2a;\r\n  --eh-green-soft:#2f7d4e;\r\n  --eh-gold:#cfa24c;\r\n  --eh-text:#3c403b;\r\n  --eh-border:#d6d3c5;\r\n  font-family:\"Barlow Semi Condensed\",sans-serif;\r\n  box-sizing:border-box;\r\n  width:100%;\r\n}\r\n.eh-road *{box-sizing:border-box;}\r\n.eh-road__head{display:flex;align-items:flex-start;gap:22px;}\r\n.eh-road__num{\r\n  flex:0 0 auto;\r\n  display:flex;\r\n  align-items:center;\r\n  justify-content:center;\r\n  width:52px;\r\n  height:52px;\r\n  border-radius:50%;\r\n  background:var(--eh-green);\r\n  color:#ffffff;\r\n  font-size:18px;\r\n  font-weight:700;\r\n  letter-spacing:1px;\r\n}\r\n.eh-road__title{\r\n  margin:0 0 12px;\r\n  color:var(--eh-green);\r\n  font-size:40px;\r\n  font-weight:700;\r\n  line-height:1.15;\r\n}\r\n.eh-road__verdict{\r\n  margin:0;\r\n  color:var(--eh-green-soft);\r\n  font-size:13px;\r\n  font-weight:600;\r\n  letter-spacing:2px;\r\n  text-transform:uppercase;\r\n}\r\n.eh-road__lead{\r\n  margin:28px 0 0;\r\n  color:var(--eh-text);\r\n  font-size:18px;\r\n  font-weight:400;\r\n  line-height:1.6;\r\n}\r\n.eh-road__sublabel{\r\n  margin:36px 0 18px;\r\n  color:var(--eh-green);\r\n  font-size:14px;\r\n  font-weight:700;\r\n  letter-spacing:2px;\r\n  text-transform:uppercase;\r\n}\r\n.eh-road__timeline{margin-top:30px;}\r\n.eh-road__phase{position:relative;padding:0 0 30px 40px;}\r\n.eh-road__phase:last-child{padding-bottom:0;}\r\n.eh-road__phase::before{\r\n  content:\"\";\r\n  position:absolute;\r\n  left:7px;\r\n  top:8px;\r\n  bottom:-22px;\r\n  width:2px;\r\n  background:var(--eh-border);\r\n}\r\n.eh-road__phase:last-child::before{display:none;}\r\n.eh-road__phase::after{\r\n  content:\"\";\r\n  position:absolute;\r\n  left:0;\r\n  top:2px;\r\n  width:16px;\r\n  height:16px;\r\n  border-radius:50%;\r\n  background:#ffffff;\r\n  border:3px solid var(--eh-green);\r\n}\r\n.eh-road__date{\r\n  margin:0 0 8px;\r\n  color:var(--eh-gold);\r\n  font-size:12px;\r\n  font-weight:600;\r\n  letter-spacing:2px;\r\n  text-transform:uppercase;\r\n}\r\n.eh-road__text{\r\n  margin:0;\r\n  color:var(--eh-text);\r\n  font-size:18px;\r\n  font-weight:400;\r\n  line-height:1.55;\r\n}\r\n.eh-road__income-item{\r\n  margin:0;\r\n  color:var(--eh-text);\r\n  font-size:18px;\r\n  font-weight:400;\r\n  line-height:1.6;\r\n}\r\n.eh-road__income-item + .eh-road__income-item{margin-top:16px;}\r\n.eh-road__income-item strong{color:var(--eh-green);font-weight:700;}\r\n@media (max-width:600px){\r\n  .eh-road__title{font-size:30px;}\r\n  .eh-road__head{gap:16px;}\r\n  .eh-road__num{width:44px;height:44px;font-size:16px;}\r\n  .eh-road__lead,.eh-road__text,.eh-road__income-item{font-size:16px;}\r\n}\r\n<\/style><div class=\"eh-road\"><div class=\"eh-road__head\"><div class=\"eh-road__num\">05<\/div><div class=\"eh-road__headtext\"><h2 class=\"eh-road__title\">Roadmap \u2014 from development to series production<\/h2><p class=\"eh-road__verdict\">The time-intensive groundwork is complete. Now comes the implementation.<\/p><\/div><\/div><p class=\"eh-road__lead\">The lengthy, riskiest phase is behind the company: seven years of development, validated components, secured partners and regulatory paths \u2013 completed with exceptional capital efficiency. What begins now is no longer fundamental work but realization \u2013 step by step.<\/p><div class=\"eh-road__timeline\"><div class=\"eh-road__phase\"><p class=\"eh-road__date\">2019 \u2013 2025 \u00b7 completed<\/p><p class=\"eh-road__text\">Development &amp; de-risking. Founding in Graz, technology development, component validation, Tier-1 partners and regulatory paths secured \u2013 led capital-efficiently to realization readiness.<\/p><\/div><div class=\"eh-road__phase\"><p class=\"eh-road__date\">Second half of 2026 \u00b7 Phase 1<\/p><p class=\"eh-road__text\">Storage roll-out (DUALstore PLUS). Start of commercial delivery of the electrical part (Estore\/BESS), thermal part (CALstore\/TESS) in 2027. Risk reduction through purchasing finished components or through outsourced series production to VDL Groep (NL). Goal: optimize the existing energy generation at the customer. Bankable 20-year EaaS contracts.<\/p><\/div><div class=\"eh-road__phase\"><p class=\"eh-road__date\">from 2029 \u00b7 Phase 2<\/p><p class=\"eh-road__text\">ADES connection = upgrade to SMRX. The ADES module is connected to the already installed DUALstore \u2013 pure storage becomes CO\u2082-free self-generation. Earlier or later depending on the country; the customer base from Phase 1 is gradually upgraded to the finished SMRX. Anschlie\u00dfend\r\nbeginnt die\r\nschrittweise\r\nSkalierung\r\nder\r\nProduktion.<\/p><\/div><\/div><p class=\"eh-road__sublabel\">Customer build-up in two phases<\/p><p class=\"eh-road__lead\">The decisive advantage of this sequence: Phase 1 already builds a paying customer base and installed base before ADES is finished. Phase 2 is then not a new sale but an upgrade into an existing, contractually bound installation \u2013 this significantly reduces sales risk and sales costs.<\/p><p class=\"eh-road__sublabel\">Two types of income<\/p><div><p class=\"eh-road__income-item\"><strong>Phase 1 \u00b7 DUALstore PLUS:<\/strong> Steady, predictable revenue from storage leasing (DUALstore PLUS) via bankable 20-year contracts. Begins early, is regulatorily decoupled, and forms the cash-flow foundation.<\/p><p class=\"eh-road__income-item\"><strong>Phase 2 \u00b7 ADES:<\/strong> The significantly higher earnings potential from ADES energy generation. Sets in with the upgrade of the installed base and scales with every connected module.<\/p><\/div><\/div>\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-5be3a8e e-flex e-con-boxed e-con e-parent\" data-id=\"5be3a8e\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-5250bab elementor-widget elementor-widget-html\" data-id=\"5250bab\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t\t<style>\r\n.eh-bp{\r\n  --eh-green:#104d2a;\r\n  --eh-green-soft:#2f7d4e;\r\n  --eh-text:#3c403b;\r\n  --eh-callout-bg:#e7e9e1;\r\n  --eh-border:#d8ddd2;\r\n  font-family:\"Barlow Semi Condensed\",sans-serif;\r\n  box-sizing:border-box;\r\n  width:100%;\r\n}\r\n.eh-bp *{box-sizing:border-box;}\r\n.eh-bp__head{display:flex;align-items:flex-start;gap:22px;}\r\n.eh-bp__num{\r\n  flex:0 0 auto;\r\n  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var(--eh-border);display:flex;align-items:center;}\r\n.eh-bp__pbar-fill{position:absolute;left:0;top:0;height:100%;background:#4aad82;opacity:.18;}\r\n.eh-bp__pbar-save{position:absolute;right:8px;background:var(--eh-green);color:#fff;font-size:12px;font-weight:600;padding:3px 9px;}\r\n.eh-bp__pseg{display:flex;height:44px;}\r\n.eh-bp__pseg div{display:flex;flex-direction:column;align-items:center;justify-content:center;color:#fff;}\r\n.eh-bp__pseg .sl{font-size:10px;letter-spacing:.5px;text-transform:uppercase;opacity:.9;}\r\n.eh-bp__pseg .sv{font-size:14px;font-weight:700;}\r\n.eh-bp__seg-a{background:#6f7a6e;}\r\n.eh-bp__seg-b{background:#cfa24c;color:#3c403b;}\r\n.eh-bp__seg-c{background:var(--eh-green);}\r\n.eh-bp__profit{margin:0;background:#fff;border:1px solid #cfa24c;border-radius:4px;padding:20px 24px;display:flex;align-items:center;justify-content:space-between;flex-wrap:wrap;gap:10px;}\r\n.eh-bp__profit .calc{color:var(--eh-text);font-size:22px;font-weight:700;}\r\n.eh-bp__profit .calc b{color:#9a7d2e;}\r\n.eh-bp__profit .formula{color:#6f7a6e;font-size:13px;letter-spacing:.5px;}\r\n.eh-bp__dcf-intro{margin:0 0 16px;color:var(--eh-text);font-size:16px;line-height:1.6;}\r\n.eh-bp__flow{display:grid;grid-template-columns:1fr 44px 1fr 44px 1fr;border:1px solid var(--eh-border);border-radius:4px;overflow:hidden;}\r\n.eh-bp__node{padding:18px 20px;}\r\n.eh-bp__node--result{background:rgba(16,77,42,.06);}\r\n.eh-bp__node-lbl{margin:0 0 6px;color:#6f7a6e;font-size:10px;font-weight:600;letter-spacing:1.5px;text-transform:uppercase;}\r\n.eh-bp__node-val{margin:0;color:var(--eh-green);font-size:22px;font-weight:800;line-height:1.15;}\r\n.eh-bp__node-sub{margin:5px 0 0;color:#6f7a6e;font-size:12px;line-height:1.4;}\r\n.eh-bp__op{display:flex;flex-direction:column;align-items:center;justify-content:center;background:var(--eh-green);color:#cfa24c;}\r\n.eh-bp__op .sym{font-size:22px;font-weight:800;line-height:1;}\r\n.eh-bp__op .sym-lbl{margin-top:4px;color:rgba(255,255,255,.7);font-size:9px;letter-spacing:.5px;}\r\n.eh-bp__rate{margin:16px 0 0;display:flex;flex-wrap:wrap;align-items:baseline;gap:10px;}\r\n.eh-bp__rate-val{color:#9a7d2e;font-size:26px;font-weight:800;}\r\n.eh-bp__rate-txt{flex:1 1 260px;color:var(--eh-text);font-size:15px;line-height:1.55;}\r\n.eh-bp__rate-txt strong{color:var(--eh-green);font-weight:700;}\r\n@media (max-width:600px){\r\n  .eh-bp__hero-h{font-size:20px;}\r\n  .eh-bp__hero-grid{grid-template-columns:1fr;}\r\n  .eh-bp__cell{border-right:none;border-bottom:1px solid var(--eh-border);}\r\n  .eh-bp__cell:last-child{border-bottom:none;}\r\n  .eh-bp__profit .calc{font-size:19px;}\r\n  .eh-bp__flow{grid-template-columns:1fr;}\r\n  .eh-bp__op{padding:10px 0;}\r\n}\r\n<\/style>\r\n\r\n<div class=\"eh-bp\">\r\n  <div class=\"eh-bp__head\">\r\n    <div class=\"eh-bp__num\">0X<\/div>\r\n    <div class=\"eh-bp__headtext\">\r\n      <h2 class=\"eh-bp__title\">Invest in the energy of the future \u2013 Business Plan SMRX<\/h2>\r\n      <p class=\"eh-bp__intro\">Lower energy costs for customers. Long-term recurring cash flows for investors.<\/p>\r\n    <\/div>\r\n  <\/div>\r\n\r\n  <h3 class=\"eh-bp__h\">Energy-as-a-Service (EaaS)<\/h3>\r\n  <p class=\"eh-bp__text\">The core principle is consistent: customers pay for delivered energy \u2013 not for capital goods. Across all five fields of application, long-term, contractually secured, and recurring revenues arise. This combines predictable energy costs for the customer with stable cash flows for the investor.<\/p>\r\n  <div class=\"eh-bp__tablewrap\">\r\n    <table class=\"eh-bp__table\">\r\n      <thead>\r\n        <tr><th>For the customer<\/th><th>For the investor<\/th><\/tr>\r\n      <\/thead>\r\n      <tbody>\r\n        <tr><td>No capital expenditure (CAPEX = 0)<\/td><td>Long-term secured revenue streams<\/td><\/tr>\r\n        <tr><td>Predictable, reduced energy costs<\/td><td>Contractually fixed margin per kWh<\/td><\/tr>\r\n        <tr><td>Maintenance by Emerald Horizon<\/td><td>Stable cash flows independent of the spot market<\/td><\/tr>\r\n        <tr><td>Fixed terms, scalable<\/td><td>Five fields of application with multiplier effect (MW x term)<\/td><\/tr>\r\n      <\/tbody>\r\n    <\/table>\r\n  <\/div>\r\n\r\n  <h3 class=\"eh-bp__h\">Financing structure: Debt &amp; PPA<\/h3>\r\n  <p class=\"eh-bp__text\">Behind every project stands a long-term power offtake agreement \u2013 a so-called Power Purchase Agreement (PPA). This contract secures the future revenues and creates the basis for efficient debt financing at the project level.<\/p>\r\n  <div class=\"eh-bp__callout\">\r\n    <p class=\"eh-bp__callout-label\">The leverage effect at a glance<\/p>\r\n    <ul class=\"eh-bp__list\">\r\n      <li>PPA as collateral: the lender receives a long-term, credit-checked payment stream as collateral.<\/li>\r\n      <li>Low-cost debt financing: the project risk falls \u2013 and so does the cost of debt.<\/li>\r\n      <li>Little dilution effect: growth is financed mainly through project loans, not through capital increases.<\/li>\r\n      <li>The model creates three winners at once: the bank\/green bond earns from the project financing, Emerald Horizon AG generates recurring income from the energy supply contract \u2014 and the customer saves energy costs from day one, without investing a single euro.<\/li>\r\n    <\/ul>\r\n  <\/div>\r\n  <h3 class=\"eh-bp__h\">X-Multiplier \u2014 from fixed profit to present value<\/h3>\r\n  <p class=\"eh-bp__text\">We answer the valuation question not with a wishful figure but with a single, hard metric: the profit that SMRX earns as a fixed amount per kilowatt-hour delivered. Every valuation statement derives from this \u2014 nothing beyond it.<\/p>\r\n\r\n  <div class=\"eh-bp__hero\">\r\n    <div class=\"eh-bp__hero-top\">\r\n      <p class=\"eh-bp__hero-eb\">The central metric<\/p>\r\n      <p class=\"eh-bp__hero-h\">3.8&nbsp;ct\/kWh fixed profit <span class=\"x\">\u00d7<\/span> 250&nbsp;SMRX <span class=\"x\">=<\/span> \u20ac790&nbsp;million profit p.&nbsp;a.<\/p>\r\n    <\/div>\r\n    <div class=\"eh-bp__hero-grid\">\r\n      <div class=\"eh-bp__cell\">\r\n        <p class=\"eh-bp__cell-lbl\">Customer target price<\/p>\r\n        <p class=\"eh-bp__cell-val\">8,5<small>&nbsp;ct\/kWh<\/small><\/p>\r\n      <\/div>\r\n      <div class=\"eh-bp__cell eh-bp__cell--hero\">\r\n        <p class=\"eh-bp__cell-lbl\">SMRX fixed profit<\/p>\r\n        <p class=\"eh-bp__cell-val\">3,8<small>&nbsp;ct\/kWh<\/small><\/p>\r\n      <\/div>\r\n      <div class=\"eh-bp__cell\">\r\n        <p class=\"eh-bp__cell-lbl\">Profit p. a. \u00b7 250 SMRX<\/p>\r\n        <p class=\"eh-bp__cell-val\">790<small>&nbsp;Mio. \u20ac<\/small><\/p>\r\n      <\/div>\r\n    <\/div>\r\n  <\/div>\r\n  <p class=\"eh-bp__note\">The target price of 8.5 ct\/kWh is well below the industrial market price \u2014 the customer saves, SMRX earns a fixed margin. It is precisely this two-sided logic that makes the model viable.<\/p>\r\n\r\n  <h3 class=\"eh-bp__h\">How the contract price is composed<\/h3>\r\n  <p class=\"eh-bp__text\">The delivered Energy-as-a-Service price of 8.5 ct\/kWh noticeably undercuts the market price and still contains a fixed profit share of 3.8 ct\/kWh \u2014 the foundation of every calculation.<\/p>\r\n\r\n  <p class=\"eh-bp__pstep\">\u2460 Market price vs. SMRX contract price<\/p>\r\n  <div class=\"eh-bp__pbar\">\r\n    <div class=\"eh-bp__pbar-top\">\r\n      <div class=\"eh-bp__pbar-name\">Market price, industry DE <span class=\"sub\">incl. grid, levies, taxes<\/span><\/div>\r\n      <div class=\"eh-bp__pbar-tot\">18,0 ct\/kWh<\/div>\r\n    <\/div>\r\n    <div class=\"eh-bp__pbar-track\"><div class=\"eh-bp__pbar-fill\" style=\"width:100%;\"><\/div><div class=\"eh-bp__pbar-save\">\u22129.5 ct savings<\/div><\/div>\r\n  <\/div>\r\n  <div class=\"eh-bp__pbar\">\r\n    <div class=\"eh-bp__pbar-top\">\r\n      <div class=\"eh-bp__pbar-name\">Market price on-site <span class=\"sub\">without grid fee<\/span><\/div>\r\n      <div class=\"eh-bp__pbar-tot\">11,5 ct\/kWh<\/div>\r\n    <\/div>\r\n    <div class=\"eh-bp__pbar-track\"><div class=\"eh-bp__pbar-fill\" style=\"width:64%;\"><\/div><div class=\"eh-bp__pbar-save\">\u22123.0 ct savings<\/div><\/div>\r\n  <\/div>\r\n  <div class=\"eh-bp__pbar\">\r\n    <div class=\"eh-bp__pbar-top\">\r\n      <div class=\"eh-bp__pbar-name\">SMRX contract price <span class=\"sub\">Energy as a Service \u00b7 target price<\/span><\/div>\r\n      <div class=\"eh-bp__pbar-tot\">8,5 ct\/kWh<\/div>\r\n    <\/div>\r\n    <div class=\"eh-bp__pseg\" style=\"width:47.2%;\">\r\n      <div class=\"eh-bp__seg-a\" style=\"width:26%;\"><span class=\"sl\">Own costs<\/span><span class=\"sv\">2,2 ct<\/span><\/div>\r\n      <div class=\"eh-bp__seg-b\" style=\"width:45%;\"><span class=\"sl\">SMRX fixed profit<\/span><span class=\"sv\">3,8 ct<\/span><\/div>\r\n      <div class=\"eh-bp__seg-c\" style=\"width:29%;\"><span class=\"sl\">Flex margin<\/span><span class=\"sv\">2,5 ct<\/span><\/div>\r\n    <\/div>\r\n  <\/div>\r\n\r\n  <div class=\"eh-bp__callout\">\r\n    <p class=\"eh-bp__callout-label\">The flex margin works in both directions<\/p>\r\n    <ul class=\"eh-bp__list\">\r\n      <li><strong>Downside:<\/strong> any overruns of own costs above 2.2 ct\/kWh are buffered first from the flex margin \u2014 the fixed profit of 3.8 ct\/kWh remains untouched.<\/li>\r\n      <li><strong>Upside:<\/strong> if own costs fall below 2.2 ct\/kWh through economies of scale, the flex margin grows \u2014 creating negotiating power on price and terms without touching the fixed profit.<\/li>\r\n    <\/ul>\r\n  <\/div>\r\n\r\n  <p class=\"eh-bp__pstep\">\u2461 What 3.8 ct of fixed profit means for the company<\/p>\r\n  <div class=\"eh-bp__profit\">\r\n    <div class=\"calc\">3.8 ct \u00d7 250 SMRX\/Ades units = <b>\u20ac790.59 million profit p. a.<\/b><\/div>\r\n    <div class=\"formula\">250 SMRX \u00d7 10 MW \u00d7 8.760 h \u00d7 95 % \u00d7 3,8 ct<\/div>\r\n  <\/div>\r\n  <p class=\"eh-bp__text\">The static 250-SMRX path serves as a reference package (reference example).<\/p>\r\n\r\n  \r\n<\/div>\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-f70e57f e-flex e-con-boxed e-con e-parent\" data-id=\"f70e57f\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-12774a1 elementor-widget elementor-widget-heading\" data-id=\"12774a1\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Strong political tailwind<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-fe9bdd3 elementor-widget elementor-widget-text-editor\" data-id=\"fe9bdd3\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>In March 2026, the European Commission adopted its formal SMR strategy with the aim of commissioning the first Small Modular Reactors in the early 2030s.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-4ae29ad e-flex e-con-boxed e-con e-parent\" data-id=\"4ae29ad\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-d4fb680 elementor-widget elementor-widget-heading\" data-id=\"d4fb680\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Market potential<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1a54a7a elementor-widget elementor-widget-text-editor\" data-id=\"1a54a7a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>ADES addresses a market in the multi-billion euro range across three segments: industrial heat supply, decentralized power generation and energy-as-a-service contracting for state and institutional energy buyers. Customers pay for the energy supplied &#8211; not for capital goods. This generates long-term, recurring revenue.    <\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-c0f1a84 e-flex e-con-boxed e-con e-parent\" data-id=\"c0f1a84\" data-element_type=\"container\" data-e-type=\"container\" id=\"kontakt\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-0088f06 elementor-widget elementor-widget-heading\" data-id=\"0088f06\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">CONTACT<\/h2>\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-2349b9c e-con-full e-flex e-con e-child\" data-id=\"2349b9c\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-89afa35 elementor-widget__width-initial elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"89afa35\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"tel:+43316574648\">\n\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Phone: +43 316 574648<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"mailto:schneider@emerald-horizon.com\">\n\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">schneider@emerald-horizon.com<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/maps.app.goo.gl\/LhLCN4J9hPKA1egz8\" rel=\"nofollow noopener\" target=\"_blank\">\n\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">15 Karl-Huber-Gasse, 8041 Graz, Austria<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-bdddebc elementor-widget elementor-widget-shortcode\" data-id=\"bdddebc\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"shortcode.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-shortcode\">\n<div class=\"wpcf7 no-js\" id=\"wpcf7-f5703-o1\" lang=\"de-DE\" dir=\"ltr\" data-wpcf7-id=\"5703\">\n<div class=\"screen-reader-response\"><p role=\"status\" aria-live=\"polite\" aria-atomic=\"true\"><\/p> <ul><\/ul><\/div>\n<form action=\"\/en\/wp-json\/wp\/v2\/pages\/3283#wpcf7-f5703-o1\" method=\"post\" class=\"wpcf7-form init\" aria-label=\"Kontaktformular\" novalidate=\"novalidate\" data-status=\"init\">\n<fieldset class=\"hidden-fields-container\"><input type=\"hidden\" name=\"_wpcf7\" value=\"5703\" \/><input type=\"hidden\" name=\"_wpcf7_version\" value=\"6.1.6\" \/><input type=\"hidden\" name=\"_wpcf7_locale\" value=\"de_DE\" \/><input type=\"hidden\" name=\"_wpcf7_unit_tag\" value=\"wpcf7-f5703-o1\" \/><input type=\"hidden\" name=\"_wpcf7_container_post\" value=\"0\" \/><input type=\"hidden\" name=\"_wpcf7_posted_data_hash\" value=\"\" \/>\n<\/fieldset>\n<div class=\"cf7-row\">\n\t<p><label>First name*<br \/>\n<span class=\"wpcf7-form-control-wrap\" data-name=\"firstname\"><input size=\"40\" maxlength=\"400\" class=\"wpcf7-form-control wpcf7-text wpcf7-validates-as-required\" aria-required=\"true\" aria-invalid=\"false\" placeholder=\"* First name\" value=\"\" type=\"text\" name=\"firstname\" \/><\/span><br \/>\n<\/label><br \/>\n<label>Last name*<br \/>\n<span class=\"wpcf7-form-control-wrap\" data-name=\"lastname\"><input size=\"40\" maxlength=\"400\" class=\"wpcf7-form-control wpcf7-text wpcf7-validates-as-required\" aria-required=\"true\" aria-invalid=\"false\" placeholder=\"* Last name\" value=\"\" type=\"text\" name=\"lastname\" \/><\/span><br \/>\n<\/label>\n\t<\/p>\n<\/div>\n<div class=\"cf7-row\">\n\t<p><label>Email*<br \/>\n<span class=\"wpcf7-form-control-wrap\" data-name=\"email\"><input size=\"40\" maxlength=\"400\" class=\"wpcf7-form-control wpcf7-email wpcf7-validates-as-required wpcf7-text wpcf7-validates-as-email\" aria-required=\"true\" aria-invalid=\"false\" placeholder=\"* Email\" value=\"\" type=\"email\" name=\"email\" \/><\/span><br \/>\n<\/label>\n\t<\/p>\n<\/div>\n<div class=\"cf7-row\">\n\t<p><label>Street and house number*<br \/>\n<span class=\"wpcf7-form-control-wrap\" data-name=\"address\"><input size=\"40\" maxlength=\"400\" class=\"wpcf7-form-control wpcf7-text wpcf7-validates-as-required\" aria-required=\"true\" aria-invalid=\"false\" placeholder=\"* Street and house number\" value=\"\" type=\"text\" name=\"address\" \/><\/span><br \/>\n<\/label>\n\t<\/p>\n<\/div>\n<div class=\"cf7-row\">\n\t<p><label>City*<br \/>\n<span class=\"wpcf7-form-control-wrap\" data-name=\"city\"><input size=\"40\" maxlength=\"400\" class=\"wpcf7-form-control wpcf7-text wpcf7-validates-as-required\" aria-required=\"true\" aria-invalid=\"false\" placeholder=\"* City\" value=\"\" type=\"text\" name=\"city\" \/><\/span><br \/>\n<\/label><br \/>\n<label>Postal code*<br \/>\n<span class=\"wpcf7-form-control-wrap\" data-name=\"zip\"><input size=\"40\" maxlength=\"400\" class=\"wpcf7-form-control wpcf7-text wpcf7-validates-as-required\" aria-required=\"true\" aria-invalid=\"false\" placeholder=\"* Postal code\" value=\"\" type=\"text\" name=\"zip\" \/><\/span><br \/>\n<\/label>\n\t<\/p>\n<\/div>\n<div class=\"cf7-row\">\n\t<p><label>Country*<br \/>\n<span class=\"wpcf7-form-control-wrap\" data-name=\"state\"><input size=\"40\" maxlength=\"400\" class=\"wpcf7-form-control wpcf7-text wpcf7-validates-as-required\" 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it.<\/span><\/label><\/span><\/span><\/span><br \/>\n<input class=\"wpcf7-form-control wpcf7-submit has-spinner\" type=\"submit\" value=\"Send\" \/>\n<\/p><div class=\"wpcf7-response-output\" aria-hidden=\"true\"><\/div>\n<\/form>\n<\/div>\n<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-b9ca01f e-flex e-con-boxed e-con e-parent\" data-id=\"b9ca01f\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-3d7e1fa elementor-widget elementor-widget-spacer\" data-id=\"3d7e1fa\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>https:\/\/www.youtube.com\/watch?v=n8acQV7dUGc SMRX focuses on next-generation small modular reactors (SMRs) and integrated energy storage infrastructure for scalable, low-carbon baseload energy systems. Emerald Horizon AG shares have been listed on the stock exchange since 26.06.2026: Trading venue: Official trading on the Vienna Stock Exchange \/ Xetra Ticker symbol: SMRX ISIN: AT0000A3UZE1 Corporate structure: 3 subsidiaries (Austria, Slovakia, [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":3204,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"footnotes":""},"class_list":["post-3283","page","type-page","status-publish","has-post-thumbnail","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/emerald-horizon.com\/en\/wp-json\/wp\/v2\/pages\/3283","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/emerald-horizon.com\/en\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/emerald-horizon.com\/en\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/emerald-horizon.com\/en\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/emerald-horizon.com\/en\/wp-json\/wp\/v2\/comments?post=3283"}],"version-history":[{"count":183,"href":"https:\/\/emerald-horizon.com\/en\/wp-json\/wp\/v2\/pages\/3283\/revisions"}],"predecessor-version":[{"id":8036,"href":"https:\/\/emerald-horizon.com\/en\/wp-json\/wp\/v2\/pages\/3283\/revisions\/8036"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/emerald-horizon.com\/en\/wp-json\/wp\/v2\/media\/3204"}],"wp:attachment":[{"href":"https:\/\/emerald-horizon.com\/en\/wp-json\/wp\/v2\/media?parent=3283"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}