On 15 November 2023 the European Commission awarded THEMA, a research action coordinated by Nexter Systems SA, a maximum European Defence Fund grant of €14,991,939.22. The call behind it placed European electromagnetic-gun technology between technology readiness levels 3 and 4. It made the pulsed-power supply the priority among the critical components to be matured and required modular power-supply designs to be developed and tested, including an inductive design based on the XRAM principle. Whole-system development and demonstration at level 6 or above were placed beyond its scope. THEMA followed PILUM, a feasibility study under the Preparatory Action on Defence Research whose grant agreement capped the Union contribution at €1,476,622.36. Before that, a French national project funded work towards a one-megajoule inductive generator at the French-German Research Institute of Saint-Louis. The research record is therefore real, and maximum Union funding grew roughly tenfold between the two European actions. What it does not yet show is the sequence that would turn laboratory modules into equipment a European armed force could order: a configuration under change control, a qualification plan accepted by a customer, suppliers with qualified capacity, settled rights over the results and a public authority prepared to buy. The question is which of those links the public record documents, which it does not, and which of the missing ones are structural rather than a matter of time.