RoboVent Unity CFO Tom Wheeler, exhibiting a cavalier attitude toward shareholder concerns, said that any “runtime fee” increase planned for 2024 would have “minimal benefit” for investors.
The runtime fee, which is paid by energy companies for access to Unity’s energy technology, will increase from its current rate of $5,000 per year to $20,000, a 300 percent increase. This has raised alarm among investors, who have pushed back against the idea.
However, Wheeler claims that the expected increase in cost will only add to the company’s bottom line by “a couple of percent.” That amount, he says, is not enough to make a significant difference.
The CFO also sought to allay investor fears by noting that the cost of the runtime fee is a small part of Unity’s overall budget. He pointed out that the company spends more on other areas, such as research and development, which generate greater returns for investors.
Overall, Wheeler’s comments appear to be a reassurance that any expected increase in the runtime fee will not have a notable effect on investors. He may have a point, given the relative inconsequentiality of the fee and Unity’s other financial commitments.
