 in Helsinki I'm actually quite frequently here since two years back I'm on the board of Metzo and so that brings me to Finland and it actually helps me to learn a lot about the demining industry which is very important to this transformation that I'm going to talk about. About two years ago we started up this project that we now have evolved into to Northvolt with ambition to to drive transformation through battery and battery solutions into three different industries because we clearly see that that energy storage is as it comes down now in cost and with technology is really bringing a large transformation into both the automation industry or sorry the transportation industry as well as to to energy distribution where you know where we are replacing wind and solar we are replacing oil and and and gas of course the fossil fuels with wind and solar and in the grids we then need to we need to balance that with with the energy storage and so so the energy storage is a key to this transformation out of our dependency of fossil fuels. What you see here on the on the picture is the first step of our plan which is is building what we call the demo line. We're building that demo line in InvestorOS in outside Stockholm where we have a number of big electronics companies ABB, Westinghouse, GE etc. That's where we're setting up this in beginning of next year. It's a fairly sizeable setup. It's 19,000 square meters and it will also host our development in in technology. What we are seeing when these industries are changing is that both legislations as well as roadmaps in specifically in transformation is very very rapidly changing. We're seeing that that countries such as Norway, such as Netherlands, such as UK, France and now even China is starting to put a clear regulation on the face out of combustion engines and of course the replacement will be electrical cars. We also see that that in most cases we have a large transformation of their product portfolios in the big automation company or in the big auto companies between 2019 and 2023 where they're bringing in entire portfolios of electric cars that are as competitive as their combustion offering. What does this mean for the demand? Well it basically means that we'll go from in this is the European numbers from basically about five gigawatt hours of use of batteries towards over 217 gigawatt hours just in Europe by 2025 and we don't have too much time to fix the supply chains to support that. You might think that this sounds you know unrealistic but you should know that only the German auto industry, the German auto industry is looking to source about 190 gigawatt hours of batteries for their transformation of product portfolio in 2025. That's about six large scale gigaf type of batteries, battery factories that needs to be established. What Norfolk wants to do is to build as a starting point one of them and we have selected a place up in Skellefteå in northern Sweden. It's been built in four phases, eight gigawatt hours per phase and we're aimed to start just after summer of next year in 2018 where we would be up and running with production in the late 2020. We are aiming to do a full vertical integration so compared to a traditional battery plant we're also aimed to integrate a number of different processes back towards the raw material. This enables us to both scale but also manage cost in a way that enables us to bring batteries way down to the point where we see these markets are exploding and those costs are sub 100 US dollars per kilowatt hour then you will really see these markets transforming. Why do we think we have an opportunity to do this? Well, if you take the contents and the cost structure of a battery when you're doing this vertical integration you're starting to consume a lot of energy. You're consuming a lot of energy when you do what's called the formation in the end of the process but you're using even more energy in the early material preparation phases so much that in order to produce one kilowatt hour of batteries you consume 60 to 80 times the amount of energy so 60 to 80 kilowatt hours to produce one kilowatt hour of battery and of course when you have access to hydropower that you have up north in northern Sweden you can integrate this flow you can actually have the lowest cost of energy in the world plus you can have a zero carbon footprint of your manufacturing stage. If you're building the same battery in a cold based industrial system such as China such as a whole bunch of other countries also in Europe you're basically when you're building a Tesla like car 80 kilowatt hours you're building up towards three to four tons of CO2 just by producing that batteries before you have even driven one kilometer in the vehicle so we see a huge opportunity of basically driving the world's most sustainable battery. We're also driving and I would say a fairly technology agnostic roadmap in the sense that we are bringing the best of Japanese technology we already have an entire design team of Japanese cell designers that have moved from Japan to Stockholm. The lithium ion battery was invented by Dr. Yoshino in Japan 30 years ago. Japan is still leading in cell technology even though in manufacturing they have been outrun by Korea and China so we're bringing the best of technology. We will have the opportunity to move with newer later technologies also into solid state going forward with our manufacturing setup. With the vertical integration and with the scale and with the energy advantage we bring really a structural cost and together with a very very ambitious plan this is just to give you a feeling for that the energy advantage if you take when we are fully up and running with our 32 gigawatt hour factory we will consume 1.5 percent of Sweden's electricity generation when we compare our energy bill with the equivalent energy bill of in China the gap will almost pay for all our employees about 2000 employees so that's that's a big energy advantage and together with a very very ambitious plan to to build a recycling that the recycling is a big issue that needs to be solved as we're going big time into this electricity electrification wave it is not yet solved today but there are very very interesting developments among research in Europe where it's very likely that the one of the better solutions to resolve it is to reversing the manufacturing process in order to to recycle the battery so that you dissolve the cathode and when you have an integrated manufacturing flow as we plan to have in the factory it also gives us a unique opportunity to build a full circular economy around our batteries so that is is what we are planning to do starting the demo line in Västerås in in early next year later next year start the construction of this facility in in Skellefteå and by the way since we announced them a month ago that we're moving to to Skellefteå with this facility there has been 40 other companies that have asked to buy land next to our setup which is ten times the amount that Skellefteå gets in in a regular year this is in one month so we're seeing that we building an ecosystem around large-scale manufacturing up in in Skellefteå so with that I thank you for listening and yeah thank you