 Well, good morning. Energy's role in improving the state of the world, I can't think of a more inspiring topic to start today's sessions with. And I can't think of a more inspiring person to have speaking on this topic than Cheryl Martin. With a PhD in organic chemistry from MIT, Cheryl's technical credentials are impeccable. But what I find especially noteworthy is the range of experience that she brings to her current role as the managing is part of the managing, a member of the managing board at the World Economic Forum, where she's responsible for the Global Center for Innovation and Entrepreneurship. Cheryl's experience includes a career at Roman Haas, serving as executive residence with the VC firm, Kleiner Perkins Clawfield & Byers, in various roles at startups, including CEO. I first met Cheryl when she was deputy director for commercialization at the Advanced Projects Research Agency, or RPE. Cheryl developed RPE's technology to market program before serving as the agency's acting director. If anyone here isn't familiar with the World Economic Forum, they have a conference every year too in Davos, Switzerland, where they convene inspiring individuals with a point of view to share and the drive and influence to make positive change. People like Cheryl Martin. So thank you and please join me in welcoming Dr. Cheryl Martin. Good morning. Can you hear me? I'm not good with podiums, so I think I'm just going to walk around a bit. Thank you. I'm really excited to be here. I think the last time that I was at this conference was when I was still at ARPA-E, and we chatted a bit about what the progress was and what was the state of energy in the US on the innovation front. And so when I was asked to come in and address the group today on energy at a more global scale, I thought this would be kind of a fitting roundabout for this, because I think it's like anything. When you sit in the midst of something, you tend to take on the view from where you sit. It's your point of view. And I think there's a very privileged point of view here in Silicon Valley and in California and in the US, despite everything that we worry about, about what's possible in energy and the traction we're making in energy. And so what I'd like to do today is help you understand what are we seeing as we look at energy globally? And what do I think are some of the really important, hopeful pieces of movement that should really be the call to action? And so I'm going to walk through, wait a minute, I'm failing slides 101 already. Yeah, it's on. There we go. So driving, I want to talk about driving invention to impact, talk about the forum and what we actually do to think about dealing with very complex issues from a system and platform point of view, talk about the work that we've looked at on shaping the future of energy, and then talk a bit about a call to action. Because I can't help it when I get to think about energy that you've probably seen these slides when I gave any talk on at RPE is that ideas to impact in the world is a very low yield process. I think we all know that. And when we looked at it from an RPE perspective, we thought about it from three perspectives. We already knew about the technical risk, but often things fail because there's insufficient value, so market risk. Do you actually have a market that's available to you? It could be the policy risk that's affecting that market. Do you have the right team around you? Not just in the team that you've hired, but the advisors, you're bored if you actually have a company, the ecosystem, do you have the right network? Or it could simply be because of poor implementation. And so at RPE, when we talked about this, we said, well, if you take this and bring it all back to the beginning and have a conversation right from the beginning that I have an idea that I believe in, I've convinced RPE that they should fund my idea and we're gonna ask you up front before we hand you that check for $2 million for three years that you really want, what happens at month 37? What happens when the money is gone? Because we really wanna talk about the value, the team, and the implementation from the beginning. And that whole piece about talking about all these things on an individual project or an individual energy effort, like where we would put multiple project teams together, is about starting to create an ecosystem that can accelerate the impact in the market. And I think it was really successful. The most recent RPE statistics, I think, are $1.6 billion in grants awarded to date and about $2.8 billion in follow-on funding that's been publicly announced. And so if you think about it from a leveraged perspective, I have to say that that actually, I think, really does work. And there was a recent paper published looking at the work of RPE saying, what's the balance of patents and publications? And there's statistical difference in that compared to other parts of the energy funding ecosystem to say that this is working, this conversation up front and this focus both on market and knowledge is really working to accelerate. And so that's my point of view as I decided to go to the World Economic Forum was that this was super important, getting these conversations, getting this ecosystem set up around things that while they could still fail, we're setting them up to be best positioned to go. And that required a lot of conversations that don't normally happen. And in my mind, also have to be escalated up to the global scale. Like we'd often walk in to talk to project teams or I'd discover that they wrote a grant together but they'd actually never spoken. I'd be like, oh, well, how are you guys gonna set this up? What kind of metals are you using? And they would say whatever they say. And other members of their team would be like, you can't use that. I'm like, oh, I'm glad we're having this conversation today and not six months into this grant. So this whole idea of what it means to communicate with your team and whatever that extended team looks like so that you can move as fast as possible is hugely important, right? And so again, that's my perspective where I come from and I can't help but share that because I still think it's really relevant for all the work that you're doing and I'll come back to that at the end. But as I went to the World Economic Forum, I went there because I believed we had lost the ability in the world to have coherent discourse about things that matter when we didn't already have the same point of view or the same language or the same view of the outcome. And so I went there because the forum is known, a 48-year-old agency for actually brokering public-private cooperation. It was the model that our founder, Klaus Schwab, wrote about when he first founded the forum that in order to form complex problems, their multi-stakeholder discussions are essential. And as the forum has done its work over the years, we've touched on things from geopolitics to energy, to mobility, to humanitarian systems. It's always been about the multi-stakeholder conversation. And so this year in Davos, we had 70 heads of state together with about 1,500 CEOs from around the world in this conversation on what's going on in the world because they too actually wanna know and think about how they can take action. And I've been super excited to see the level of commitment of the private sector stepping up when there's so much political uncertainty in the world. And so the forum though has actually shifted just from highlighting issues to a new model of platform and systems thinking, really taking the world and saying, okay, what are the conversations we wanna have and how do we understand them in a systemic way? So we have 14 systems, future of health, the future of mobility, the future of the environment, the future of work, the future of energy. And we bring together government, public and private sector players in order to have them sit down and talk about, well, what is true about this system? What are the bounds of what we wanna talk about and how do we map it? And then understand what are the acupuncture points? If we want it to be different in the future, where are the points that have to be changed? If we wanna have healthy, robust lives for 10 billion people in 2050, what has to be different about the healthcare system? What has to be different about epidemics? What has to be different about maternal healthcare? We've done the same thing as we go to all those other systems. And then really looked at, once you've identified the places that there needs to be radical change, who needs to come together in order to actually catalyze action and then what should be measured in order to know if we're going in the right direction? And so we've done that in many, many areas. And if you think about, okay, one of the first things, well, what are you measuring? What is impact? Currently, this clicker is designed for someone who stands at the podium. We define impact in three different ways. You could say maybe the first two are cheating, but I think that you need all three in order to get to the last one. You actually have to be able to define the problem. So build awareness and cooperation. You actually have to have people agree there is a problem. And so oftentimes we'll convene people just to actually get some agreement. So that was true on plastic in the oceans. We started that conversation several years ago when it was like, well, I don't know, is there data? Whose problem is it? Are we part of the problem or are we the solution? But we actually got a lot of coalescence in this. I think it has been a part of the dialogue that's become much more of a global movement in this. Then really getting into, once you've agreed there's a problem, well, what are the mindsets and agendas to have to solve it? So getting into agreeing on the criticality of acupuncture points. Is it global work that needs to be done? Is it frameworks that need to be translated locally? Is it a problem among stakeholder groups in parts of the world? And so how and why are we actually going to get the right people together? And so a lot of those outcomes may be meetings, reports, commitments of action, but then you really get into it when they drive collective action. And that's when the forum platform becomes real. The forum is 600 people spread around the globe. We can only do so much ourselves. We are not on the ground organization, so we need to act through others. It works super well when people see that there is a call to action and they move it forward. And so in again, adjacencies to the energy space on water, there's a global water initiative that has moved off the forum platform to be part of the UN water initiative today, a multi-stakeholder coalition looking at the water issues of the world. We have a coalition for epidemic preparedness where it formed two years ago, $700 million as a starting fund as a nonprofit to actually deal with the market failure with vaccines. So we're actually funding research to get the five most likely vaccines for the most likely epidemics ready. And those things take place totally separate than the forum. So you get this collective action going on. We saw it happen as the US was going to pull out of the climate agreement. All those signatures and letters that came out in the national newspapers were by the CEO Climate Action Coalition. It's a CEO-led group of CEOs committed to climate action. And they on themselves mobilized and acted really quickly to get all of that out in the news and again to mobilize across the world. And so these are the types of things we look at and follow across all the arrows that the forum works. And so if we step to energy now, I knew you were thinking, when's she ever going to get to energy? But I had to wait till you're all like, OK, pass your coffee, pass all of this, not talking about something you already know about. So our platform for public-private collaboration and energy, we have 25 stewards. They're about half and half public sector, private sector. Everybody from the CEOs of ABB and Hitachi, NL, NE, Floor, a number of other companies, not all energy companies, and a number of ministers and NGOs from around the world, from Latin America. We've got some from Africa, from Europe. Remember the EU sits on this. And they actually help guide us in what are the most important issues. And then guide the work and the efforts and the outreach. And we've taken this across five different areas most recently. And we looked at it from a spectrum of the energy transition, so where are you going? And how are you going to get there? And it always ends with humans. Much of what the forum is like, how do you keep things human-centered? It's about, ultimately, not about the governments, not about the companies. It really is about the people that in fact. As we think about that, we looked at, well, where could this group have the most impact? And it really is in, what are the energy transition imperatives? And where and how are the policy and market drivers going to play? And so this broad effort that we put together, fostering the effective energy transition, has actually resulted in an index that we're publishing annually now, showing by country, where are they in terms of energy effectiveness today, energy mix, infrastructure, economic ability to build infrastructure? And where are they prepared to go in the future? So it's both a current state and a forward look on all the countries. And it's the basis for a lot of dialogue with countries about what has to happen and how they may dig into other efforts that we have going on. And then we've taken these other four initiatives, which cover both the imperative as well as policy. And I'll talk about each of those in a minute. Let me start with one that I think perhaps doesn't get enough credit for what they're doing. Our work with the Oil and Gas Climate Initiative has gone on for a while. It was founded on the forum platform in 2014. It was coming together of the CEOs of the oil and gas industry to acknowledge that they are a huge part of the energy transition. And again, 81% of the energy today in the world is produced by fossil fuels. That is exactly the same number 30 years ago. So despite all that we see and all the movement and percentages of growth and all those things, which are all awesome, it's still 81% of the mix. And I don't see many forecasts that have it be any different of oil and gas in the mix, no matter what their slope is as it goes down and renewables grow. And so they have to be part of the discussion. And so they proactively have come together. They meet several times a year at the CEO level about what is it they need to be doing and how and why they need to act. And they have put up, it was announced a year and a half ago, Oil and Gas Climate Initiative fund. They actually have a billion-dollar commitment across the 10 of the major oil companies of the world to fund in four different areas, carbon captures and utilization storage, reducing transport emissions, methane reduction and energy efficiency. So they actually are based in London. They hired a woman who used to run one of GE Renewables businesses as their head and they are actively putting out and looking for things to fund in these spaces. And so if you have ideas in these spaces, there's not only fund, but there's the backup of these companies. And their view is that their CTOs sit as advisory group to this fund. And so that as ideas are coming in, you're starting to set up the ecosystem to help get the movement forward. And so if things can go to pilot scale and other pieces, they're willing to step in with other resources in order to move these things forward. And again, they're actively funding right now. And so we're super excited about these types of things because as you stand up efforts from industry around certain pieces of the innovation mix, you can get some real good leverage, partnering with governments, partnering with other like-minded agencies to accelerate innovation. One of the ones that I've been particularly interested in as part of the overall dialogue is also happening in the future of electricity. Again, this audience doesn't need any education in what's going on in energy, right? The decarbonization, the decentralization and the digitalization of the electric grid is happening, happening at varying degrees around the world. We started this work about three years ago in a different way. Again, we have the conversation about what happens like here in California, what happens in the United States. But when you start to go around the world, so we started by going to Juju Island in Korea where they're actually electrifying and creating a whole ecosystem of electric vehicles and microgrids to really drive the carbon footprint of that island down, worked with New York and what they've been doing with their Rev initiative, distributed energy and also in the UK and took a lot of the work and learnings and took it up to some archetypes and frameworks because one of the biggest problems we see in something as complex as the energy system is that we hear about somebody has done a test study, somebody has done a pilot, somebody has actually moved to policy but I don't know how to translate it into where I am. I have one policy but I really need five or I hear about that policy working and not working in different places. And so how do we translate energy policy into useful cases if I am the government? And so we started that work. We then partnered with our work on mobility where we had partnerships going on with Boston and a couple other cities on thinking about their mobility future and how was autonomous and shared gonna fit into this and you start to get to some really interesting use cases when you can balance the grid, go to shared mobility solutions on autonomous about total solutions for cities. And so we actually have published a number of pieces now around this multi-stakeholder framework of bringing together the government, the civil society and companies around these for infrastructure, customer, policy and business models. Again, if you're in the electricity side of energy today this is not new that this has to come together. The thing that I'm excited about is what's in the bottom box is after we started bringing this together as published frameworks and we had conversations with our stewards the energy minister from Columbia said, I wanna sit down and have multi-stakeholder workshops in Columbia that we can actually use these frameworks to change Columbia's energy system. And so over the past 18 months we've worked with him and his staff to actually bring together multi-stakeholder working groups around four areas that they prioritized around what business models would work for them on the electric grid based on where they were starting what technology developments could they act on so they've rolled out smart metering, they've rolled out demand response and actually put legislature through to enable these things to be market effective. They've been doing more to study electrification of their transport system, what would it mean? And also micro grids. And I mean, if you know Columbia at all it's got this big mountain range in the middle. So the whole idea of what are you gonna do to connect this is not only an access to energy question but it's actually fundamental about where and how does that country function and how does it actually be stay stable and generate the right employment and access to energy as it relates to accessing internet and funding growth models for their business. So we're super excited to see the traction and as that has come to bear there's a workshop in three weeks I think in Brazil in San Paulo that the energy minister there as well is driving the same sort of conversation. We're also having conversations with Argentina, India and Lithuania I believe, did I have them on the slide? Yes, Lithuania. And so again, places where the conversation wasn't happening because they didn't have a framework and a place to start the dialogue. And so again, we're not acting we're just actually bringing people together in order to help them have the right conversation. And sometimes the right conversations are among people who you'd think they talk all the time but they never speak. It's just they're always on the wrong side of things. Like it's the electric utility and their regulators never end up in the same room together except when they're having a discussion about and maybe discussion is the polite term about rates and those tensions. How do we actually get some common ground in a gray that we're really gonna have a closed door Chatham house rules conversation about what am I worried about? Am I worried about my business model? Am I worried about my employees? Am I worried about understanding enough technology? Am I worried about having the right workforce? Am I worried about if I'm the government figures? Well, what is it gonna mean if we don't have the right skilled workers to do this? So where and how do we actually share what really is in the way so that we can actually get on to figuring out how to move it forward? And so it becomes a really super important aspect of this that we have these conversations. So that's one aspect of key things that we're worried about in electricity. And then another one that I think is a different angle on the type of work that needs to be done is with looking at the global battery alliance. Again, I think we take it for granted. We talk about the need for batteries. We talk about cost curves. We're talking about what's happening with lithium ion. We talk about large-scale manufacturing. Rarely do we have the, and it's all good. It's, we're gonna have renewable energy. It's gonna flow through grids. It's gonna be in batteries. We're gonna fix the duct curve. We're gonna do all these things. We don't actually have the conversation about the issues with supply of the raw materials, some of the environmental issues, the whole circular economy problem. And so perhaps we should. And if we're really gonna have a truly sustainable system, we actually need to have this conversation. So how do you have it? Even for the largest members of this supply chain, it's a difficult conversation to start. Whether you're one of the automotive manufacturers or whether you're one of the big electronic suppliers, where do you start to have that conversation? You wanna say, well, I'd like to assemble the my supply chain. Well, it kinda, you get up to the battery guy, the guy who's making your battery and then it goes beyond them. It's the mining guys, it's the NGOs. It's the governments in all these countries. And so over the past year and a half, we actually have stood up a global battery alliance. It's 30 companies and a number of NGOs and countries coming together to say that we actually have to grapple with these big challenges in batteries to really be sustainable. And so the whole question about raw materials and batteries has become one of the primary areas. What does a circular economy for batteries look like? And how do we bring innovation in along the supply chain? And again, not saying that there's not innovation happening, but we're not actually looking at it in a holistic way. And so to bring this together, they've actually got a work plan that is driven to some extent as they try to tie it back to the sustainable development goals. So again, from a global government perspective, which problems are we trying to solve? And actually, if you look at it, some really important things are starting to happen. So in the cobalt supply, most of the cobalt comes from the Congo and a lot of issues there, but really starting to actually look at testing with local stakeholders, what would have to be different for the supply chain and how it works in the Congo to be different with cobalt in getting active in-country action on this cobalt action partnership set up and taking action. It really is a huge problem. And actually seeing that everybody's standing together to say we wanna help solve this is gonna be a really massive improvement for a lot of people's lives. Same thing with lithium. The lithium supply chain, how and why it's so critical to electrification today based on the current technologies and holding a round table event soon in Chile to have a conversation about what are these dynamics and what needs to happen in order to have more transparency, more discussion. And these on this side, on the mining side, could not have stood up without work over the years, multi-stakeholder work between the NGOs and the mining industry itself. A lot of times they were at loggerheads and if you cannot talk to people about both the sides of your concerns are, then we're not going anywhere. And I don't think this whole effort could have stood up without that year, multiple year commitment. Interestingly enough, in circular economy, really looking at some key action areas, accelerating the adoption of second use for batteries, which again, big conversation here, but not globally, has not been as active globally. So get them reused at least. Really looking at how and why do we do more with recycling of lithium batteries and how and why do we actually deal with a lot of the lead acid recycling issues that are out there. And so that is all taking action right now. And then unlocking innovation. Again, we have a lot of battery technologies at RPE, I don't know, we funded like $400 million worth of research on different battery technologies. But the whole conversation, if you're gonna look at it from this angle of circular economy and supply chain, would you design things differently? Are there certain technologies that you'd wanna think about accelerating because they have less of the negative issues and perhaps we have to think about how do we drive their cost down faster? How do we enable their manufacturing in better ways? And so it becomes perhaps a different conversation than just, okay, what's my energy density? What's my charge rate? All these different aspects of the technical side of things. And so super exciting to see that this kind of coalition could come together. And lest you think that everybody's just gonna meet and nothing happens, I can share with you one that I think is super important outside of energy, which was the Tropical Forest Alliance. Sustainable palm oil is now a given around the world. It was not a given five to seven years ago. Much of the deforestation was happening because of palm oil production. And so we got together the entire supply chain and as it started to come together from those who made palm oil, it never really coalesced to we got those who demanded palm oil. So the buyers, all the big consumer product companies together in this discussion just like this and got them to commit to sustainable palm oil, that they would buy sustainable palm oil only. And as soon as that started to happen, you watched countries in Africa commit to what it would take in their country to have sustainable palm oil production. And so we've seen a radical turnaround and a radically different conversation in the palm oil supply chain because everybody came together, everybody came together and agreed that we needed to do something and came up with how they were gonna get it done. So I think that this one is the jury's out. We don't have the results yet, but I think it's set up really well. And I think if people have ideas about what could happen here, if you're work for a company in this space, we'd love to plug you into this effort because it is a part of the forum platform and working as a separate entity just attached to where we are today. One of the last examples I'll give is the work that we've been doing most recently on innovation. I think, again, here, innovation's taken for granted. It's part of what we do, it's essential. But accelerating that and what accelerating innovation means is something that we didn't feel an energy had been well studied. And so we put a study together, looking at what are the effective ways that innovation's happening and what are some of the big gaps. We also started conversations with Mission Innovation and Hydrogen Council, which is 30 hydrogen value chain companies about what are the gaps in innovation and how do things come together. And we looked at innovation alliances, public funding programs and regulation and policies. And we just published in May as part of the Clean Energy Ministerial a bold ideas for accelerating energy innovation globally. And if you read through this report, again, I think some of these things are reasonably obvious to this group. Ideas like an ARPA-E, where public, private sector sharing risk, being able to have roadmaps, right? Department of Energy and other places here, we have roadmaps for technology, but they're not globally or even regionally shared roadmaps around the world. And so our suggestions were these six buckets, creating a national institutions for energy innovation, so something like ARPA-E's, right? Which Mexico is actually picking up and looking at what they can do in this space. Bring that together. Developing instruments for public-private cooperation, co-investment, the EU and the UK are both looking right now at putting together funds where this is actually possible. There are all kinds of questions and issues you have to grapple with, but recognizing that some of these problems are just too big for any one country to go after them alone and that we have to come together with the public and the private sector. To actually super transparency of energy R&D investment, we've been talking about the fact that you'll never get every country to agree on what their research priorities are. But why can't we make it more transparent so that if you're looking to fund or to be part of batteries or grids or fuel or one of these pieces, how do you actually get people around the world together? Where are the funding priorities? Mainstreaming public procurement. Again, a lot of ministers will tell you we don't want startups in our procurement because there's too much risk. And I was like, okay, but strategically, there's a lot of interesting ideas about how you work into having new ideas in your procurement. They may start with pre-procurement funding. We did some of those with the Navy where they funded alongside of us in order to get things ready in four or five years to be able to be procured by them. So some really interesting pieces here that we were advocating for to be considered by these global governments. And so how many people are familiar with mission innovation? All right, you guys gotta check out the website. So at the Paris Accord, 22 countries plus the EU came together with a commitment that by 2021, they would double their renewable energy spending, clean energy R&D spending, and that their commitment was to reinvigorate and accelerate global energy innovation. And ultimately, it's not just about the spending on R&D, it's about that fourth line down, partnering with the private sector. So to actually marry up the work that they could fund with the work that businesses and the private sector can come in on. And they picked eight focus areas. Each of these areas is co-led by a couple of countries. And while it's still early, we're two and a half years into this, there's some really interesting things starting to come out. So on the clean energy materials, it's hosted by the US, Canada and Mexico, I believe. And they're actually Lawrence Berkeley, the Canada Institute for Advanced Research are coming together to do rapid prototyping of advanced materials key for energy development with using shared robotics, shared databases and algorithms. And so they've already started to stand this up and work on what needs to happen in this space. But the idea that you have multiple governments sitting down and marshaling the conversation forward is really important. Because you start to get crossover of ideas. So if I'm one country in this cohort and I wanna fund something and I'm in a discussion with the private sector and other governments, if we wanna fund it together, can we actually think about how to do that? That's really hard and really essential for countries, especially smaller ones. And so we were brought into the discussion last year at the China meeting, the second clean energy ministerial to actually, we signed an MOU in Mission Innovation to help them walk alongside the private sector and to have better conversations about what's going on. Because if you go to academic, you can't have a conversation with the businesses. If it's all about just funding research and not about how it's gonna get to market, you can't have academia show up and tell business, if you just give us some more money, we got it, right? It won't, it doesn't work, right? So how and why could we facilitate conversations about what needs to happen in this space? And so we were really pleased to see the evolution of the conversations over the past year. And we were just in Denmark on the 3rd of May for the ministerial and across these countries an increase of over $4 billion in the actual amount of R&D being moved into clean energy. And I think it's a 38% increase from the baseline of two years ago, they're on track to actually double, which is fine, except you could say, okay, is there a good outcome for that investment or not? But I think that improved transparency on their country strategies, on outcomes, on pilot projects was very much highlighted. If you go to the Mission Innovation website, you can see these country level strategies being laid out. They've actually gotten a lot of engagement with IEA and IRENA on measuring this, is recognizing that if we're not measuring progress and we're not being honest about what's going on, then we're really not getting there. And if IEA presented some data that says there's 38 critical areas that's necessary to keep to the climate Paris Accords that we need progress on innovation, we're only on track globally on four of them. Solar PV, data centers, electric vehicles, and lighting. Everything else is off track from what's estimated to be necessary in order to deal with the commitments of Paris, so the 2% climate goals. And so really coming up with how and why do we have more traction around these spaces is absolutely essential, and so this MOU that they signed with both of these agencies, we're excited about because that gives us the tracking and the knowledge that we need to actually continue to buoy partnerships. I already mentioned the new EU instruments that they're considering for public-private investment. The new challenge on hydrogen was launched, they started with only seven, they added hydrogen. And this one's being designed right from the beginning as a public-private cooperation. It's not, we as governments are committing to those other seven and we wanna get the private sector on board, but we're actually designing this with the hydrogen council and governments in order to be able to move this forward. So hopefully as you look at what are the developments happening in hydrogen, it will be much more a public-private sector conversation. Cross-border partnerships, very significant number of them announced, and again, there's sometimes where I was like, I don't get it, why can't you guys are both interested in funding carbon capture, why can't you get together? But if you think about it, if you're a minister and you're gonna use your taxpayer's money to fund something, what's the conversation when that money goes somewhere else? Right, there's a lot of rules and public perception about how you do that. But we are seeing motion that I think is super important. We saw that Mexico put out a call for carbon capture technologies where anyone among the mission innovation countries can apply. Sweden put out some as well and Denmark where anybody can apply. There's joint funding going on among many of the Danish countries where it's open to any mission innovation nation. And so you all could apply to the Mexico challenge if you have a carbon capture idea that needs to be funded. And in addition, there's also some pieces around challenge spaces where people like Sweden, it's called gross Sweden I think, Innovate Sweden, where they actually are putting out procurement challenges to the globe to say innovators, we want you to come in, we want to be able to drive our agenda and among the Nordics, they're among the most progressive in the world on driving a clean energy agenda. But really trying to take the chance and demonstrate that we can do something more globally, more holistically than every nation alone. And so we're excited to be part of it and Canada is hosting the next clean energy ministerial in Vancouver next spring. And they are already in the planning stages about how do you drive commitments with everyone in order for action. And so this is my last slide before we go to questions but the energy transition is an imperative. I don't think anybody here doubts that. You probably wouldn't be at this meeting if you didn't already believe that. But it has both challenges and opportunities. And I think one of the biggest ones is that you have to translate things from a global level or a national level to a regional implementation. And the translation and the communication of those things is still not very good. I think we have a lot of issue just with information moving. But I am encouraged that there's more cross region, more cross border understanding cooperation either at least in road mapping if not in shared financing happening. There's more partnerships going on and there's more emphasis on metrics and tracking. And so if that's the encouraging part then what are you all gonna do about it? I think that that's the call to action is we have tremendous work being done both on the research side, on the business model side, on the growth of businesses side that needs to actually get though translated and out to the rest of the world. And so take advantage of opportunities on funding. I really do urge you to look at the mission innovation and the Clean Energy Ministerial websites. The countries are showing what's going on if you're a company thinking about going to other places. If you wanna be part of a partnership is let's look at that. Follow the developments on the mission innovation website, see what's happening in different places around the world. And consider how the work you're doing could be translated for use by somebody else. I mean it's enough sometimes to translate between technologists and business folks. How do we translate from one jurisdiction to another? Perhaps some of you have insights, perhaps there's coalitions already forming that might wanna help with that translation because I think that that's where we can provide the most good. And I have written here, you talk to people and ask questions but I would urge you to listen to people and see what their problems are. Where are the language different than yours? What's the barrier that keeps us from moving things forward? And think about what commitment you can make in order to help this transition move forward. We need to be in a different place than 81% fossil fuel in order to meet these commitments. And I am quite hopeful that we can do this but it is about everybody thinking about what can you do beyond your day to day focus that can actually help others move to this next phase. And given what I've seen in these dialogues around the world, people want to do the right thing. They need help translating some things where they actually know what to do with it. And so we know how to do that. We've done it in the communities here in California, in the US. And so I urge you to be inspired to take action because energy is key. There really isn't, we can't have any other conversation about what to do about the good inclusive growth of the world if we don't have energy in this. And that's a really important place, I think that I should leave it and maybe invite Barbara up to have some questions. So thank you very much.