Nobody wants the product
To come this far without sales is a bad sign. Production means nothing if nobody wants to buy the product and the company knows this. That is why the dismiss production related questions last earnings.
Government regulations are not a compelling reason to recycle. The economics have to make sense. If your thesis is “the government will force companies to recycle and PCT is the only option” that is not capitalism that is slavery and I want no part in it.
Talking with Toyota means nothing if they don’t hand over cash. This has been a long standing relationship which resulted in nothing so far.
I would not touch the stock until they get cash from a customer.