It’s only a grift if they know they can’t solve the cooling issue and they falsify data around their proposed solution and they publicly embarrass their investors a la Theranos.
Outside of that, accepting money and saying “I will simply solve the enormous problem with my idea by solving it” is not only normal, but actively encouraged and rewarded in the VC sphere. Suggesting that that way of operating is anything short of the standard that should be aspired to is actually seen as derisive and offensive on here and can get you labeled as gauche or combative.
I'd argue that some of the assumptions made in the whitepaper are so egregiously optimistic that they cross the line into grifting, but it's impossible to know the true intentions of the founders.
For one, the cost they ascribe to the space bound solar array being only $2 million for 40 MW is pretty out there.
