"Not sure why you would be concerned about patents (or lack thereof). The real advantage is the catalyst which will remain a trade secret."

The catalyst seems to be the key to whole operation and if patented, it would be the single biggest asset for the company. They would own the tech and be able license it around the world giving investors tremendous value right away without having to wait decades to build hundreds of facilities. I agree that the real advantage is the catalyst which is precisely why I would be concerned about the protection of that information.

Why aren't you concerned about unpatented, unprotected technology as the keystone of the whole operation?