 Just a quick poll. How many of you are from California? Oh, there's quite a few outside California, so welcome to California. How many of you international students? Wow, that's good. Welcome to the United States of America. I'm going to talk about energy innovation, and frankly, just to give you, let you in, I mean, this is going to be in a, you'll be drinking from the fire hose of all information being downloaded on you. And I just want you all to not only just absorb all of that, but also get some time to interact with each other because the bonds and the friendships that you'll form and the network that you'll create will last you for a long time, not just in Stanford, but beyond. So this is the opportunity to really create this network of people. So let me, I think, as I said, Sally and Catherine have given a terrific background on what the various issues are. I'll talk about kind of the historic perspective of where we are in energy. So let me start by showing the world map of population density. This is where the people are, okay? It's all about people and the planet at the end of the day. This is where the people are, and you can see where the population density are the highest. You're in that corner over there right over here, which you can see where this is. And if you overlay on top of that a picture, which is the satellite image stitched together on lighting, you suddenly realize that it's an amazing picture. Lights are where the people are, mostly. And there are parts of the world where the people are, where they have not yet turned on the lights, okay? And there are about two billion people who do not have access to the grid, electricity grid. And without that, there is no chance of them getting into the 21st century. They're still stuck in the 19th century. So if you look at the challenges that we have, the grand challenges that we have moving forward, this clearly what you heard is the environmental aspect of CO2 emissions, and the energy system has to change. But there are really three big challenges. One is, how can we decarbonize the system cost effectively, and continue economic growth for all? That's a big, big challenge because our energy system and economic growth have been kind of pinned towards fossil fuel use, and we need to kind of separate from that. That's not an easy deal. The second one is how do we provide access to affordable, modern energy to every human being in the world, okay? Because otherwise they will get stuck in the stratum of society where they'll never come up in terms of prosperity and just quality of life, okay? So that's the second one. And the third one is more of a security issue. How can we make our energy system resilient, adaptable and secure against various threats? Could be climate, as we just heard, could be cyber, could be other threats as well, okay? Energy is people, countries and regions have gone to war on energy in the past. So these are three issues, and whatever we decide on energy has to address all three of them. If you ignore one, it's just not sustainable in the long run. So that's the challenge that we have. And I want to just walk you through, where were we about 250 years ago? 250 years ago, the United States was being created, 1776, and it's about 240 years ago, right? And at that time, people were traveling this way. This is not a picture photograph from that time. They weren't a photograph. That's where we had paintings. Right? This is pretty modern. But this was the mode of transportation, mobility, and this was the mode of lighting, whale oil. Whale was the deal at the time. People were wailing for the blubber because the lighting was based on that. All right? And then we went 250 years ago from there to here. Okay? This is 300 horse powers. You see two horses? There are 300 horses embedded in that engine, right? There are 10,000 horses, and those of you who've come internationally, 100,000 horses brought you here in a time of maybe a day which would have taken months in the past. And for electricity, we have the grid, where the National Academy of Engineering has said, that's the greatest engineering achievement of the 20th century, okay? So this is what has happened. It has not been like a major jump from this to this. Suddenly, people didn't decide what a Camry ought to be. But it has been some of them big jumps, some of them incremental changes. And that's how innovation happens. And what you find is that this is now creating a problem, an environmental problem, and not everyone has access to all of this. So moving forward now, what you all, I mean, I tell people, I wish I was an undergraduate student. You're a little older now. I wish I was an undergraduate student right now, because the next 20, 30 years is gonna be absolutely fabulous, exciting. Why? Because what we do now, what you do now, is going to decide, by the way, this is, we wrote a paper, Steven Chu and I wrote a paper in Nature. We call this, the Industrial Revolution as the horse power to horse power. That's what it is, frankly. And what we are now trying to decide is which innovations that you will create will shape the next 100 years of energy. That's your goal, that's Stanford. Shape the next 100 years of energy. So let's talk about some trends that are happening that you should be aware of. This is the snapshot that you just saw from 250 years. This is the actual connecting the dots. This is GDP per capita. Okay, it's gone up exponentially. Per capita has gone up exponentially. And the population has also gone up. Today it's about 7.5 billion people in the world. And by the end of this century, this 2100 out here, end of this century, it's supposed to be, the UN predictions are about 10 billion, but you can see the error bar is also 10 billion. And it really depends on the fertility of women in Africa. That's where the most of the population growth is gonna be. Obviously this has been, the economic growth has been fueled by mostly fossil fuel, as we all know. And this has given rise to CO2 emissions and the concentration of CO2 is going up. And that's a problem. This is good, that is bad. We really don't have much control on this. And so we have to change this. Okay, that's, at the end of the day, it's as simple as that. Obviously it's easier said than done. How can we decarbonize cost effectively and continue economic growth and prosperity for all people? That's really the challenge. So I'm gonna talk a few trends that are going on globally that you should be aware of. One is urbanization. The population growth, where are they gonna live? How they live, whether it's a rural community or the urban community, the energy use can be quite different. This is the population growth for the next 40 years or so, 30 years, two and a half more billion people will be added. Most of the growth is gonna be in the urban regions. And so this is data from Africa, Asia, Europe, Latin America, North America, Oceania. So the big red dots are mega cities that are more than 10 million people. These are large cities, five to 10, medium cities one to five, and cities half a million or half a million to one. And these are the annual growth rates, okay? So you can see in Asia, some of these growth rates are 10% per year. And as you can well imagine, these are not planned, okay? These are unplanned growths going on, but that's how people are moving to the cities for economic reasons, okay? And how we develop the infrastructure of the future is up in the air because the former infrastructure, if you spend a little bit of time in the traffic out here, you'll realize that is not sustainable in the long run, okay? And this is the Bay Area, which is actually quite nice. You go some of the developing countries and look at the traffic out there, it's just impossible to move, right? So what should be the infrastructure? Infrastructure is energy. We will need energy to run that infrastructure, mobility, transportation, electricity. So this is a major trend that is going on globally. Second trend on the energy side is natural gas. The United States, Canada and Mexico, we just found a lot of natural gas. We always knew there was natural gas embedded in the shale formations, but over the last 20, 30 years or so, people have figured out the technology and brought down the cost to be able to extract the hydrocarbons and actually make money out of that. And that has changed the ball game globally. Certainly changed it for the United States, but really this natural gas is going by LNG. Look if I natural gas to other parts of the world. And so the price of natural gas, whether it's in the United States or Europe or Japan, the big price of differentials, that's any price of differentials is business. And so this is what is going on and there's going to be a massive growth in the natural gas trading business in the world. Many of the oil and gas companies are shifting towards gas to reduce carbon emissions, but also as a very cheap commodity. In Stanford, you'll hear about this. We have now created, launched about three years ago, the Stanford Natural Gas Initiative. This has to look at upstream, midstream, downstream, as well as the LNG trading, the economics, all kinds of geopolitics of natural gas. And this is predominantly unconventional resources. So this is a big, big trend that is going on. The second big trend that you may have already heard about is renewables. And in the last 10 years, the cost of wind and solar has come down at a rate that no one really had expected. It's the learning rate is like you, the cost of solar and wind come down by 20% every time you double. And that's a big, big reduction in cost. And as a result of that, you have deployment of solar and wind going up exponentially. Many of these technologies, not just energy, but others, go through what is called an S-curve. You have sudden growth, you have early adopters, and then it grows like that, then it saturates. So this is in the early days of this S-curve that is going on. There's more global investments on the order of about $350 billion that are going into renewables than in oil and gas today. This is a massive deployment of capital as well as technology in the field. And that is because the cost of generating electricity has gone down so much and it's crossing a few things that have not changed. One is US natural gas and China coal. And it's gone below that. And it's certainly gone below US coal and nuclear. So the fact that coal is going out of business is not because of some policies in Washington. It's purely economics. And you're now seeing, this is two years ago, Abu Dhabi Electricity and Water Authority, they had a, this is contracts that have been signed at $24 a megawatt hour. And this is now going to $20 and people are expecting down below $20 in the next few years. So this is a major, major change. The grid, and I'll come to that, was never designed for this fluctuation of solar and wind in the grid. And so as a result of that, we have at Stanford created an initiative which is cross campus looking at called bits and watts. Okay, and we'll talk about that in a few minutes. The other major revolution that is happening is digital. The digital world, we are very akin to the Watt steam engine and the other automation that happened thereafter. We are in a similar stage of automation from the digital world, not the mechanical world but the digital world. And I call it the data science and I hope really take this seriously. I think data science is going to be the algebra of the future. People won't even argue about it. Even if you're not a scientist or engineer, you'll have to know some data science, how to manipulate data. That's the algebra of the future. And so this is a major revolution that is happening and you are right in the middle of that going on in the world, right out here. So there's a data science initiative, lots of that in bits and watts, et cetera. The other major trend that is happening is that of batteries cost. And 10 years ago when we were in the DOE, we did not expect the battery cost on the wind and solar cost to come down this fast. This has come down to the point that we expect that Tesla Gigafactory will produce batteries at the cost of $150 a kilowatt hour. What does that mean? Well, if it's $100 or below in capital cost of a battery pack, not the cell, the battery pack, if it's $100 below, it is the electric cars will be range competitive and cost competitive without subsidies compared to gasoline cars. And give it another 20 years because the fleet takes about 15 to 20 years to turn over, you'll see deep penetration. It's not gonna happen immediately, but you'll see deep penetration of electric vehicles in the car. Now, think about that for a minute. You have, if the electric cars, let's say you have 50%, today we have like a few percent electric vehicles and especially in the Bay Area, there's a huge penetration, but still a few percent. Imagine you're at 50% penetration, 40% penetration electric vehicles, you wanna get it charged, where do you wanna go? And well, you could do it at home, but not everyone has a home and a garage. They live in apartments, where do you go? It turns out the car companies never had to speak to the electricity companies and vice versa. They'll have to have a dialogue right now. So this is not just for the United States, this is globally. India has announced they're not gonna sell gasoline cars after 2030. That's only 12 years from now. Not gonna sell gasoline cars. All's gonna be EV. China has got major deployment EVs. This is totally new worldwide. It's disruptive, if you can, in terms of technologies. To address that, we have an initiative that we're launching this year called Storage X. X equal to lithium-ion today, but it could be others in the future, okay? Just to give you a word, you heard about cooling technology, passive cooling and using radiation tool. Let me give you sort of the global view of cooling. The, if you look at the hydrofluorocarbons that are used for refrigerants today, the global warming potential for these refrigerants is about 2000 to 3000 times that of CO2, okay? So if these leak out, the global warming effect is gonna be very significant to the point that it is, as was predicted a few years ago, it's gonna be anywhere from 20% to 40% that of CO2, the total global warming. Given the economic growths that are going on in those tropical regions where air conditioning will be used, okay? So let me give you what that is. These are the cooling degree days, okay? You rate cities based on the number of cooling degree days, okay? So where is the first, the top US city is over here. This is Chennai, Bangkok, Vietnam, Ho Chi Minh city, Ahmedabad, Manila, all of this. This is where the economic growth is happening. India is going at what, 7.5% economic growth? Guess what people do when they're miserable in the heat and the sweating and they get a little bit of income. They buy an air conditioner, okay? And so that's what's going on. In fact, it's been predicted that the primary energy that'll be spent on cooling will exceed that of heating in the next, you know, 15, 20 years or so, okay? So this is a big change and we need to figure out how to cool ourselves without messing up with messing the environment, okay? So again, if you step back from all this, this is why I think this is one of the most exciting times to be at your age or maybe even younger, because we are the major tipping point of a major transformation that's going on. This is decarbonization, as you heard. The digital transformation that's going on, that's entering energy now. The diversification, whether it is fuel, whether it's hybridization, whether it's EVs, whether it's rooftop solar, this is different. And this industry, by the way, the whole energy industry put together is anywhere from an account count at some point, 10 to 30 trillion dollars per year, okay? I lost count of the zeros out there, but it's 10 to 30 trillion dollars a year and that has to go through a major transformation. That's the opportunity. It's a challenge, of course, but any challenge is an opportunity. It's for you to shape, okay? So again, I won't go through this and the speed at which this is happening is absolutely incredible. Paris, COP 21, has set in motion the train. The train is leaving the station. No matter what policies are going against it, this train is leaving. The industry, the big oil and gas industry, have figured out that they have to change. And the way I like to put it is, it's a gigaton problem, as you know. It needs gigaton solutions. How many industries are there at the gigaton scale? Oil, gas, coal, steel, concrete, agriculture. So if we really want to address this problem, those industries have to be a part of the solution and not part of the problem. And they have realized it. It's an opportunity. Okay, so I'll say a little bit. So what do we do? This is, just like you went from here to there, we're not trying to figure out where to go next. So innovation happens in many different ways and let me just tell you through using sort of techno economics. Any technology, whether it is this horse carriage, will reduce in cost, had been reducing in cost and improving performance. Well, you can have better bearings, lighter wheels, stronger horses, okay? And it comes down in cost and improves in performance. As you go to scale, these are incremental improvements in existing technology. And that's important. That's very important, but that's not an automobile. And what happened in the past is that people tried out transformational ideas. This is the steam-powered automobile. This is the Benz automobile in 1885. This is 1769. And people tried this and they failed, okay? They didn't quite succeed, but it's set in motion the transformative ideas of a automobile, which is fundamentally different from horse carriage, okay? And they're set in motion, but at that time it didn't think that it's gonna be disruptive. But one of those technologies was able to scale. And so this transformative idea became Model T, the Ford Model T, and that became disruptive because it is cleaner, faster and cheaper. If it's cleaner, faster and cheaper, why would you want to go the other way, okay? And this transformation happened in 1910s and 1915 or so, and it happened very quickly in the United States. And then it spread around the world. This is what we're talking about. And as you go down this curve out here, you need more and more money. The capital investment goes up. But what does the university do, okay? We are looking at the whole thing out here. At the upfront out here, we're looking at technology, transformative ideas. Many of you will be involved in transformative ideas that will make the existing technologies just obsolete. But there is research that has to be done in the scaling as well. There's economics, there's business involved in this. There's policy, there's law involved, and we do all of that out here. So that's what we're really talking about in terms of innovation. So, but innovation just wanna make it very clear. It's certainly, there's technology part of it. There's technology science, engineering, math, technology, but there is business model innovation. There is economics, there is law, there's finance, and there's people. At the end of the day, if people don't accept it, it's not gonna be used. So it's the combination of all of that, that is innovation. And what we would like you to have is the broader perspective. You will be involved in your masters of PhD thesis and you'll go dig deep in a certain area, which is great. Let's make sure that you don't forget the broader perspective as well so you can see how the dots are connected. And that's the holistic view that you ought to get at Stanford. I'll give you a few just ideas of how to decarbonize cost effectively. And this is already being said, I'll walk you through very quickly. First is fuel switch from coal to natural gas. You already heard this, with global access to cheap natural gas and low carbon fuel, it's methanol. Second is decarbonize the grid by integrating renewables or reducing the cost of nuclear, not ore, and reducing the cost of nuclear and reducing the cost of carbon capture and utilization. So this is how to decarbonize grid. And by the way, of all the things that we can decarbonize, the grid is the easiest. It's not easy, but it's the easiest. And if you want to decarbonize transportation, well, this is the way to do it. Today, the approach is using renewables, but we got to do the others as well. Decarbonizing transportation by electrification or by low carbon fuels, and I'll talk a little bit about that, find alternative materials to steel and concrete or decarbonize industrial heating for steel, concrete, petrochemicals and food. There's a lot of energy. This is probably the most difficult part. How do you decarbonize industrial heat? Today it's done by natural gas or coal. It has to have other sources of heat and we have to figure or change the process where it does not require heat. We don't know how to do all of this. And finally, as you heard, energy efficiency and conservation is very important. So if this is not, there's no silver bullet for this one. You've got to have multi-prong approaches. And at a place like Stanford, you can look at multi-prong and each one of you will be involved in different things, but it's the whole that's bigger than some of the parts, okay? Very quickly, I'm gonna talk quickly on this, on the grid. This is the, today we are still living in the Tesla Edison grid architecture. You have one-way power flow from the generators to the loads. The generation always traps the load. The generation is slave of the load, not the other way around, okay? So if you turn on the switch, someone has to turn on the generator. But this is centralized generation. This is changing because we are trying to put in now 50% volatile, 50% or more volatile generation of in a solar and wind. And the grid was never designed for it. It was never designed for this. So we have to change this. We have to change the operation of the grid. And this is a classic, what it's called, the ducker. Have you ever heard of that? The ducker. This is the ducker. This is the daily use of the net demand. So if you look at the total demand and you subtract out what solar and wind can provide, this is, the demand goes down. And then when sun goes down, the demand shoots up. This is the duck, this is the neck out here. The duck is getting fatter, okay? And people are now coming, oh, this looks like a camel now, okay? So all kinds of animal analogies are here. But nevertheless, it's a massive problem. Because in the middle of the day, you have excess electricity. In the evening, you really have to ramp up very quickly. Today, natural gas is providing that. We don't have storage solutions that can meet this. And so we need to develop them. It's very simple, okay? And so this is, what about storage, okay? And what does the first thing that come to your mind when you think about storage? Sir? Battery, right? What, lithium-ion battery? Cell phone battery? Yeah. Want to use, you know how Stanford runs? It runs like this, okay? These are the batteries. You know what these batteries are? Thermal batteries, okay? We have, we draw electricity from the grid. This is where the big heat pumps are. The heat pump dumps cold water in these two and hot water out here. And we use heating and cooling that way. And when the price of electricity is low, we draw that electricity more to run heating and cooling. And when the price of electricity is high, we reduce electricity consumption only for the lighting and we don't use of heating and cooling. It's 10 times cheaper than lithium-ion battery, okay? So batteries, so storage, one has to think broadly. So where does lithium-ion fit in? It's great for transportation, by the way. We can see the glide path for EVs getting cost-compatible, competitive, and range competitive. But that's not enough for the grid, okay? So this is a paper that came out of MIT. I won't go into the details except to say that four-hour batteries lithium-ion can manage. Four to five hours, we have the technology when the lithium-ion cost comes down to about $100 or lower, it'll taper out at about $80 or so per kilowatt hour. And that's good enough for three, four-hour storage. But for eight-hour storage, maybe of an ADM Redox low battery, maybe, maybe, okay? Maybe not. But if you want to do it for multi-day, we don't have any cost-effective solution today, okay? So if someone says, oh, we have all the technology, we just got to deploy it. This is an example. We don't have the technology. It's for you to develop it, okay? That's a storage. There's a lot of connectivity, networking that's going on. I don't have to tell you guys this. You all know this, you're connected, and the homes are connected now. Whether it's the automobiles, whether it's Nest thermostats or PVs, they'll all be networked. And that gives us the idea of using data analytics to be able to connect networks. So let me tell you how the grid is changing. This is what the grid was in the past. You have generation, one-way power flow to the home. This is the meter, the utility like PG&E, local utility comes only to the meter, and this guy's a rate payer. Everyone's a rate payer. Okay, no one talks about a customer. It's a rate payer. We are trying to do this, and that gives you that, which is difficult, and this is volatility on one side of the grid. This is volatility on the other side of the grid. We have two volatility, we have a double whammy to deal with, and now the question we are asking is, could we use data to connect and coordinate, and so that you have stability on the grid? Because otherwise you have problems of instability on the grid. So this is what Bits and Watts is all about, and we have lots of corporations that are interested in this, because they're all trying to figure out what to do. No one really has solutions for this. I'll give you a quick. This is a couple of students on their own that developed this deep learning algorithm to take Google Maps and came up with a GPS location in size of every solar panel in the United States. This paper just got accepted in Juul. This is the largest database. Otherwise it was based on voluntary information. This is now, we can do it for United States. Hopefully we have high resolution pictures or other countries, we can do that too. It's a simple thing that now we have the location, we can look at what the grid will do when the sun goes up because we have the location of these. Very quickly on carbon management. This is, if you look at carbon management, this capture of carbon dioxide, whether it's from the air or whether it's from concentrated sources, this capture and conversion, whether it is electrochemical conversion or cryogenic or thermochemical, all ways of doing it. And then the question, where does it go? The carbon can go into fuels that can be reused or could go into forests or on grasslands or into geological formation. So it's very important to take a holistic view on carbon. This is not just one thing only. We have to look at holistically on carbon. And these are the various pathways that can go. As you can see, it's extremely complex. You can go many different pathways. So the goal is to really find the pathways that are scalable to the gigaton scale and the lowest net cost. And so this is, and I won't go into the detail, I'll give you a few examples of that. What are the big challenges? Carbon capture. Today, if you take a coal-fired power plant, the cost of carbon capture is about $60 to $70 a ton. And why is it so expensive? Can we reduce it? Well, that needs science and engineering. Science and engineering economics are intimately related. This is how we do it. We have a mixture of gas of carbon dioxide, water vapor, and nitrogen, if you burn in air. And you have a sorbent, call it A, which binds and then separates it out. And then you have a dissociation reaction. Two different reactions, right? This is where the challenge is. If you look at the thermodynamics of this reaction, and I'm going to go a little technical out here, and if you look at the kinetics, most of the sorbents, whether it's an amine, monoethanol amine, or piprazine, or an alkaline solution of sodium hydroxide or calcium hydroxide are over here. Whereas if you really want to reduce the cost, you want to be over here. You need new materials. Because if you go this way, it increases the energy or operating cost. And if you go that way, it increases the capital expenditure of the plant. So if you really want to minimize the cost, you got to go over here and we really don't have any materials to absorb CO2 with the right kind of kinetics and thermodynamics. That's just a challenge to all of you. These are some of the very important reactions in energy, and I'll talk a little bit about the chemistry. The holy grail reduction reactions, if you can do it cost effectively. Water to hydrogen, water splitting, which is the first step in photosynthesis. We got to do it at less than $2, a kilogram of hydrogen. We don't quite know how to do this without being carbon free. And I won't go into the details of this. CO2 splitting to CO. Also, it has to be done at scale and cost. Of course, we can split water with a battery and put two electrodes in water and we can split in a get hydrogen oxide. The question is, can it be scalable? And it can be cost effective. And finally, if you can turn CO2 into some hydrocarbon, if you can reduce the carbon and produce a fuel, then of course it's fantastic. The other are more oxidation reactions. We have a lot of methane. Right now, we cryogenically cool it to transport it to China or Japan. Can we turn that to methanol directly, not through what is called syngas? Or can we do this as a... These are oxidative coupling of methane to form ethane. These are some of the holy grails of chemistry. We really don't know how to do it. And so my lab is involved in a little bit in this. So if I'm looking for top graduate students, okay, if you're involved, let me show you very quickly what we are doing. So this is, I'm here to represent Stanford, but I'm also here to represent my lab. So we have found and discovered a new class of metal oxides. And where you heat it, you get the oxygen out and the oxygen is then grabbed from H2OCO2 and you get the hydrogen and carbon oxide. This is, the CDIA is the current state of the art material. It requires 1500 degrees. And the question, it was thought to be impossible to reduce it below 1500 to down to 1100 degrees or so. And what we really wanted to do is to get it down to 900 or so. This is a new class of oxides, very complex oxides. And what we found is in water splitting, we have five times better yield than CDIA at much lower temperatures. And this is the CO2 splitting, again, five to six times that of state of the art material. It's a complete, I mean, we, it is surrender pit us in many ways. We discovered it and very excited about it. Again, a lot of people thought this was impossible. A lot of people will tell you that it's impossible when you're doing your research. And you know, you got to first ask the question, does it violate any laws of physics? Okay. If it violates a lot of physics, it's probably impossible. But if it does not violate laws of physics, there have been people who have said on naysayers and you got to take that, you know, listen to them, but then address it. Because I'll let me give you some examples of the past of people who, you know, did game changing work, but they didn't quite realize what was going on. This is Lord Kelvin in 1890 who claimed radio has no future. X-rays will prove to be a hoax and heavier than air flying machines are impossible. Lord Kelvin, as good as he was, was opinionated, but he was dead wrong. Okay. Because you had, you had, you had existence proof of birds flying. Okay. What? So you got to be careful of what people say, okay. Now, if it violated the laws of physics, absolutely, you got to be careful about that, okay. In fact, when I was an RPE, one of the proposals started off, the first line of the proposal was, the laws of thermodynamics are a little outdated. And I said, oh, okay, now let's see. Another perpetual motion machine. This is Wilbur Wright in 1901 who said, man will not fly for 50 years. Thank God you had a brother. Who in two years, they figured out how to fly. Okay. The best way to predict the future, okay, is, I like the saying of Arthur C. Clark, is any sufficiently advanced technology cannot be distinguished from magic, okay. And it's for you all to do some magic at Stanford and beyond. Thank you. You actually have a minute for a question. What is that? I know some of you, but yeah, no questions. Hi, my name's Roger. I was wondering, you said, we've heard a lot about energy generation and storage, but I was wondering, is transmission a part of this equation as well? So I think that certain geographic areas are more pre-exposed to produce energy than others, and getting that interest of their obviously to do so, is that an area of optimization? Absolutely. It's part of the infrastructure. You know, today in China has the highest voltage of long distance transmission. It's like 1.1 megavolts. They're trying 1.4 megavolts and higher the voltage, you go the lower the loss so you can go longer distances. And so, we don't have that yet in the United States, frankly, and so this is a big deal, but getting a transmission lines built is more than technology, all kind of permitting and other legal issues. We don't know how to transmit heat long distance. Okay? We do it in cities with steam and things like that. We do it on a campus like this with water, but if I want to transmit heat from here to let's say Las Vegas, I don't know how to do that. And this is a big deal. When I was in RPE, we looked at that. It's a can you take heat and put that in a reaction where you get two liquids, okay? And you add to the enthalpy of that. And so that I can transport the liquids and when I bring them back again, I get the heat back. We're not quite there yet. There are very interesting chemistry involved. And the chemists did not know about the heat problem. The heat guys did not know about the chemistry problem. You bring them together, magic happens, okay? Okay, maybe one more and then we've really got to move on. Yeah. So you know what, like with your modern batteries, right? One of the batteries is a lot of it. So like, you know, you got to do some Nobel Prize in chemistry. Yes, you're going to do that. No. I like this, so I'm not that kind of person. So like, do you see that being a large problem? Like, you know, in the exponential program, that's why different, yeah. So cobalt is certainly an issue. There's no question about it, right? But if you look at the cathode of the lithium-ion battery, it's not just cobalt, cobalt, this cobalt, it's NMC, nickel, manganese and cobalt. And cobalt has some unique, you know, orbital structure that really allows it to do its job. What people are trying to do is to reduce the cobalt content in it to about 10%, 20% and thereby still be able to get the behavior, right, of high energy density cathode. On the other hand, people are now looking, there's a company that is funded that looking for cobalt reserves. So right now, cobalt is a byproduct of other things that we get, that we mine for with copper, et cetera. Can we find cobalt directly go for cobalt? And so there are studies going on in geophysics and trying to figure out where the cobalt reserves are.