 So, first, I want to talk a little bit about the energy context from the U.S. point of view. I find it's not dramatically different than what I've heard from colleagues here in Ireland, so you'll probably resonate with the things that I am going to comment on. In the United States, the major imperatives that we have around energy are noted here. Energy security. We have a strong dependence on petroleum imports from the Middle East and elsewhere. Many of the countries that we import our oil from are not necessarily the best friends we've got in terms of political issues, and so we are constantly getting into discussion about do we really want to remain dependent with these countries. The same holds true with our nuclear fuel supply. We currently import about half of our nuclear fuel. About 20% of our electricity is generated by nuclear power, and that means about 10% of our electricity is generated by foreign sources of nuclear fuel. Most of that comes from Russia as a result of agreements on downsizing their nuclear stockpile and down blending the uranium, and so there's a positive aspect of that. But in long term, we simply don't want to be totally dependent on fuel supplies such as that. We import natural gas, have for quite some time from Canada. We're not so concerned with our colleagues to the north, but we're also now expanding our natural gas production in the country. You're probably reading about the fracking issues and the ability to significantly enhance the production of natural gas in the United States. And in fact, we're now thinking about turning LNG terminals that were produced to actually ship in natural gas, turning them into export terminals to ship out natural gas. So there's a quick equation change there on the economy of natural gas in the country, which I think is a temporary change. The economy, of course, is common to what I'm hearing here in Ireland. We are going through similar downturns. There's not a lot of money available for research. There's not a lot of money available, actually there's a lot of money available for investment, but it's not being used for investment. It's being held by the banks with great concern about what the future of the economy is going to look like. And in fact, our banking community looks very curiously at Europe because Europe is such a strong trading partner with the United States. The outcome of this downturn in Europe is going to strongly change the way we manage our finances in the United States. So we are very tightly linked at the hip with our European colleagues here. And of course, the environment. Our current president came in campaigning on a carbon reduction platform. That platform did not last very long because of other issues that have happened in his campaign. And you've probably heard the whole issue of greenhouse gas emissions drop off of our headlines in our newspapers. It will remain that way until certainly well after this upcoming election in the United States. I think it will remain that way if we have a Republican takeover. This is the Mitt Romney campaign position. We will not see carbon come back up as a major issue. If our current president, Barack Obama, is reelected, I think we'll hear greenhouse gas emissions come back onto the agenda perhaps a year from now. So we're in that strange period where we aren't certain whether greenhouse gases are going to be a driver for our energy economy or not. The reality is they're going to drive the energy economy going into the future. So it's just a matter of the time frame that that happens. There are other issues with the environment as well. We're beginning to begin to decommission coal-fired power plants. The older power plants simply cannot meet the gas stack emissions that are required by our Environmental Protection Agency. And instead of putting on new stack cleaning technologies, they're choosing to simply decommission those and replace them. You perhaps have heard we've already begun construction of some new nuclear power plants, one gigawatt, AP1000 systems. Those will come online in a few years. And as we see those come online, we will see coal-fired power plants drop off. And indeed, we're going to see more renewables come online despite the low percentage that they contribute to our power system. They will continue to grow slowly and will meet new changing load. The load in our country is just very slightly growing right now. So here is the picture of what our energy production looks like. About 75 quads, quadrillion BTUs are produced in the country. We consume about 98 quads. You can see the big slice changes in the dark blue there. That's the petroleum that's imported from overseas. Petroleum almost exclusively goes to our transportation sector. About half of the petroleum right now is imported from overseas. It was as high as 60%. This recent economic downturn, as well as increased domestic production of oil, has allowed us to shift that percentage some. But still, we're 50% dependent on imports of oil. That's going to change in the country. And we see programs already coming online to facilitate that change. You can see on the right-hand side, the small slice about 7.6% of energy production is by non-hydro-renewable technology. That's what my laboratory works on. And you can see the distribution of that biomass, of course, is a significant contributor today to the augmentation of the gasoline supply. Wind technology has been growing fairly steadily and will continue to grow. Geothermal and solar technologies are growing, but at a slower rate. We'll continue to see those rates move at about the same pace that they are today. The shares of renewable, I've already covered this. You can see from this big slice of the pie just what our energy production looks like. We are heavily fossil fuel dependent in the United States, principally because we started with oil. We have huge coal deposits in the country. We're driving most of our electric production from coal. And we became addicted to oil as the rest of the world has, and we're now having to import oil. So this picture I think is probably somewhat common in various countries where you have static pie slices of your energy production. It varies by region what those slices are, but they don't vary very dramatically because you have natural resources in your own environment that you're capitalizing on. That's going to continue. This shows what's happening with the cost profiles for the various renewable technologies. These on the top in the red is electricity. And you can see the various techniques, the biomass source, solar, geothermal, hydropower for instance. The bar shows you the breadth of cost in the different environments. And you can see on the far left there's a single upright bar which is the cost range that those technologies have to meet in order for them to be able to compete with the existing technologies in their region. And so you can see that biomass electricity, that's burning biomass in steam conversion systems to make electricity, is already fairly competitive in most areas of our country. Solar energy is a small slice in certain parts of our country where it is cost competitive with existing electricity. Geothermal electricity, where geothermal exists, is competitive with existing electricity resources. You can see wind. There's a range for wind that where wind blows, it is competitive with electricity in those regions. The problem is wind blows in our little population regions in the country and so it augments an already low demand area. So it's not, we're having to figure out a way that we can move that wind electricity, not the wind resource, but the electricity itself out to the load centers in order for it to be able to penetrate further. The bottom shows the heat where we need space heat or industrial heat. Of course biomass, solar thermal systems are already fairly competitive, geothermal obviously is competitive. And in many areas where biomass fuels are applicable, the biomass is already competitive with existing heat sources. That would be something that you would expect. Now the work that we're doing at our laboratory is to try and push these horizontal bars to the left so that we can push more and more of the resource into that competitive range with existing electrical and thermal use. When we do that, then we'll find that the use of these and the development of these technologies will continue to grow. We don't expect to see and we have not seen electricity demand growth in our country in the United States. It's shown there on the left. It's been fairly flat since this economic downturn happened. So we aren't seeing low demand growth. So our existing system is meeting the demand. The same holds true in Europe. It's been fairly flat, slight growth there. The big demand is occurring out here in Asia. And you can see the expectation and forecast is that fossil fuels will be the major source of fuel for those meeting those demands. That means we're gonna continue to see significant growth in the emission of greenhouse gases. And if you believe that we shouldn't be doing that, then we need to find alternatives for that electricity in those growing sectors. We're not gonna stop the growth in those sectors. We simply need to change the profile of fuel that's used in those sectors. We've reviewed the MIT Future Study on Natural Gas. This shows the impact that natural gas might have on the US production market. It shows that MIT's expectation is the energy efficiency. The hatched area is gonna really be the area of opportunity. We know that energy efficiency is the most efficient way to save energy. The most efficient use of energy is to not burn that energy. And there are opportunities out there in buildings technology, transportation technology, and elsewhere, commercial technologies for reducing the energy demand. But you can see that natural gas will have a major play in our distribution of power in the United States through the 2060 timeframe, according to the MIT Study. We don't see holes in this study. We think it's a fairly valid study. All of this means that we need to be thinking about a fairly transformational future in the way we both produce, distribute, and consume our energy. Today, we're dependent a lot on importing fuels from other countries. That means that those fuels are subject to price volatilities and we don't have a lot of control over that. We're vulnerable in our delivery systems. We have an aging electricity distribution system. It is not centrally owned and operated. It's owned by many, many companies. And that means that the companies themselves can choose to make the investments that they feel are necessary, which inherently brings with it instability in the distribution system itself. Significant carbon emissions exist today and they will continue to grow if we don't change our energy mix and our role of electricity is increasing. We're finding, of course, as everyone is, that electric vehicles are gonna begin to penetrate the market more quickly. We're finding smart grid technologies are coming to bear, both in commercial buildings, industrial applications, and in-home applications. We're seeing fiber being pulled into home so that we can actually control the use of energy within homes, dynamically control at the utility end on both sides of the meter. That's all going to drive increased use of electricity. So we simply need to find a better way of producing, distributing, and managing that electricity. And so in a sustainable energy future, our view is we need to become more carbon neutral. We need to increase the efficiency in the use of our energy. We need to diversify the supply. And diversification means moving away from these large central production area and more into a combined central and distributed production of electricity. Indeed, we're seeing that in our country now where we see a lot of rooftop solar being placed on homes that augment the electricity supply into homes and are actually grid connected so we can actually have two-way flow of electricity. The same holds true in commercial buildings and industrial applications. Here is what we're looking at at the opportunity. First in the upper left, looks at R&D investments that are there to drive the innovation in each of these sectors. The curious thing from my point of view is the small amount of revenue that's actually invested in the energy sector. So the percentage of sales, I'm sorry the words are very small on this, but that far green bar on the left is the pharmaceutical sector where 19% of their revenue is reinvested in innovation for next generation pharmaceuticals. On the far right is the energy sector where you see 0.3% of the revenue from the energy sector is actually reinvested in innovation. I think you can understand those two sectors and understand the difference in the investment if you just think about it. Pharmaceuticals turn over fairly rapidly. The innovation has to happen on a very rapid scale. In the energy sector, we invest in large systems, large power plants and large distribution systems. Those assets don't turn over very quickly and when companies make investments in large power plants, they're counting on a 50-year investment so they need to minimize the risk and they wanna have confidence in that investment. So the investment in innovation is actually quite a bit lower. You can see asset utilization on the upper right chart. Power is, we utilize our electric power in our country about 44% of the capacity. Of course at night, we've got dips in demands and so that capacity goes idle. We have peak periods during the day when essentially all of the capacity is used in an integrated sense about 44% of the capacity is actually used. The second bar over shows the airline industry where when the airline industry was highly regulated, that industry was also around a 50% utilization so you could get on an airplane and fly from coast to coast in the United States and find many, many empty seats. Today you get on that airplane and every seat is full and many times they're asking if passengers are willing to give up their seat for other passengers that have reservations. The capacity factor for the use of the airlines in our industry has grown dramatically because of the deregulation that allowed for that type of change in their business model. And so you can see that red bar on the top went from a 50% which is about where our utility industry is today. Airline industry went to a 72% utilization factor through deregulation. So we're gonna see new business models I think come about because of that type of demand which will begin to creep into the capacity use of our utility industries. I already mentioned on the lower left these investments are intensive capital-wise. We make a billion dollar investments in new production systems. Those systems have to run, they have to recover their assets for their shareholders. They have to run for decades. And then of course each one of these industries is driven by the market in the area and the resources in those areas. And so globally, in fact, even within individual countries you find regions of the country that capitalize on their unique assets. They're generating electricity and moving that electricity in a different way than an adjacent region simply because of asset availability. Renewable energy follows all of the rest of the energy resources that varies by region. So you can see the world is a total over on the far left and then developing countries, European Union, United States, China, Germany, Spain, and India. Each of the distribution of those energy sources varies by the resources in those countries and in those regions. It's so, what I'm saying is that energy itself is inherently a regional issue. We're not gonna solve the energy issue by a single solution that might be used globally. It's gotta be dealt with on a regional basis. We've achieved varying degrees of penetration. Germany of course has got very high penetration of solar. They've made a major move in that area. They've made major incentives in order to make that move occur. The same in Thailand. Major moves in that country, of course lower demand centers, but it is through public policy that allows those major moves to occur, but the technology also has to be competitive economically with other technologies in the regions. You can see the extent to which those penetrations have occurred. We think that equal penetrations can occur in other countries around the world and it's simply a matter of developing the technology and then working the public policy issues which incentivize the move of cleaner technologies into the marketplace. In our country we have those kind of policies implemented as what we refer to as renewable portfolio standards. We are of course a federation of states. We would like to think we're one country, but all of our states would like to think that they have autonomy. And so you see a map of the United States and each of the states is outlined there. Each state that has chosen to do so is promulgated their own laws around renewable portfolio standards. You can see in some cases in California on the far left, 33% of renewable penetration is mandated by the year 2020. And so then the state itself has made investments in that area with their utilities as well as coupling with federal government investments to make sure that that happens. My own state of Colorado kind of in the center there, 30% by 2020. This is an interesting social study that you can look back at. Our major utility is Excel energy. They were very reluctant in accepting a renewable portfolio standard that was promulgated by our state legislature. It went in initially at a 10% renewable portfolio standard. After they saw the opportunity that existed and they saw the ease with which renewables could be introduced into the grid itself, the Excel energy themselves willingly moved forward with increasing that portfolio standard up to 30% today. And so it was initially that skepticism by the utility which held it back and the utility now is the willing partner that is actually pulling that technology forward to the forefront. I think we're gonna see that same algorithm hold with other states in our country. But you can see the various numbers, they all vary by state, 20%, 25%, 16%. And so it is these type of standards which is actually helping to facilitate the move of wind, solar, geothermal and other energy into the production sectors. You can see in 2001 on the left, the amount of renewable energy was actually existing on the grid and the change that has happened in simply 10 years where we've gone in many cases to at least eight to 10% on the grid. In many of the light blue areas, that's the one to 4% region. But essentially in every part of the United States we're now seeing the penetration of renewable energy into the marketplace. Now not all of those states have renewable portfolio standards. Many do, but many have simply been brought along by their neighbors because they've found that there is economy. There is economic development in the state and there's actually economy in the energy production sector to do so. So we're seeing this increase, my guess is 10 years from now we're gonna see a much darker blue country and all of those states that are white will have their own renewable portfolio standards. That's the enthusiasm that's actually spreading across the country today. So what are the major challenges? I've talked a little bit about them. There are of course the legal challenges, there's the market pricing challenges. There are the institutional barrier such as the utilities being reluctant to move in the beginning and then having a bit of an epiphany and they've decided this was really a great opportunity for them. The states themselves are realizing there's economic development opportunity, there's new educational opportunity. It's a higher tech industry and so it requires higher education standards and therefore it's feeding into universities. So you see this entire cascade happening of new development through innovation in the energy sector. Of course coordination becomes an important element here. We're talking about linkages now not just in our energy sector and within our energy department but also with our department of agriculture, with our departments of commerce with our departments of interior. All this coordination across our government is required if we're to see this happen. It's not simply an energy picture, it's hitting all the rest of these economic sectors within the country at once. Public support has grown pretty rapidly in the last 10 years. We continue to see that happen. There are certain areas where for instance in transmission capacity where we're saturated in some areas of the country, our public is reluctant to see additional transmission capacity installed. And so we're trying to find new unique ways, creative ways to use the existing transmission capacity so as to overcome that barrier. And that leads us to customize solutions. Again, it becomes very regional. You have to deal with it in a regional way. You have to engage the public in those decisions. This is really running the country as an entire country. We've recently put out a report. We were asked to evaluate, is it feasible to get 80% penetration of renewable energy onto the grid by 2050? So we went out and did the analysis, does it need new technology or does existing technology fill the bill? Is the resource there to actually do it if we deployed that technology and then can it be done within the economics? Our results were that yes, it can be done. Again, each of the regions of the country has a different portfolio. So this shows in each of the major regions, Northwest, Great Plains, Great Lakes, Northeast and so forth around the map, what the distribution of the various renewable electricity sources needs to be. And we showed that in the study itself, existing technology with some subtle improvements is there today that we could actually achieve an 80% penetration. Now this is a scenario analysis. It is not a forecast. It is not a roadmap. It's simply a point in time saying is it feasible to get there and do we need major investments in technology to get there? And our results showed that yes, it's feasible to get there. It takes public policy, it takes investment. The technology improvement is fairly minor and it's necessary and we can actually achieve this type of penetration. Now when I've been talking with colleagues here in Ireland, I think a similar type of outcome could be achieved. I think the resources here, certainly the wind and wave resources here has to be capitalized upon. But the same type of analysis could be done and we could actually see that electricity could come. In fact, I think when I saw the wind maps of Ireland, there isn't more than enough wind onshore in Ireland to more than power the entire country. You can actually export wind from the country. Take some new technology for storing energy and utilizing your energy, but it is feasible. So those are not roadmaps, they're not forecasts, they're simply a statements of points in time. It takes innovation, it takes integration of our energy together. We need to adopt a variety of technologies I'm showing here. New markets, for instance, in plug-in vehicles, it takes the policies with the government and the commitment, it takes the technologies to all come together at once. It's a change in the way we manage our energy around the world. So let me quickly touch on where some of the technologies are at. Our laboratory started as the Solar Energy Research Institute. It transitioned to become the National Renewable Energy Laboratory, but solar remains at the foundation of the laboratory. Probably a good 25 or 30% of our laboratory's work remains in the solar area. We do work in concentrating solar. This is both solar thermal as well as solar electric, looking at how you can collect solar, focus it, convert it both to electricity and therms, and then use that electricity. Smaller footprints, higher density power. We continue to work on materials around solar PV themselves, the large panels that go on roofs. Silicon technology continues to be the workhorse around the world. Thin films are the advancing technology they're gonna, at some point in time, overcome the rigid silicon materials. Thin films that will actually be used, we now see that DuPont is putting out a thin film replacement for roofing shingles, and you can actually plug in your roofing shingles and generate electricity with them. That's the type of innovation that's gonna occur in the solar PV area. And of course, solar crystal and silicon, as I said, continues to be the workhorse for the time being. Crystal and silicon is the dominant move that the Chinese have made in the solar market. We do a lot of work in wind technology. We have solar large multi-megawatt machines on our National Wind Technology Center. It turns out we have a wonderful location in Colorado for wind research. It's a horrible location for wind energy production. We have a natural wind tunnel that comes out of the mountains there that allows us to get extremes in wind resource so that we can test machines at their extremes and look at the failure modes, look at the durability issues. It would not be a good site to actually put a wind farm because it's not sustained wind, it's only periodic wind. But it allows us to do wind research that the wind manufacturers are happy with and they have actually come to our site and they've built their machines at their cost on our site and then jointly work with us to put those machines through all of the various duty cycles to evaluate the reliability and performance, wind blades, wind towers, nace cells, gearboxes, all of the essential components. Indeed, we're also working on power electronics for connectivity with the grid and we work with the utilities for assuring that grid connections can be done in a stable way. We're moving pretty rapidly offshore because once you've got confidence in the wind turbines themselves, the aeroelastics of the turbines as well as aerodynamics of the wind power plants, you understand those, now you can move into other environments. Indeed, probably the most useful resource we've got for wind is offshore in the northeast of the United States and the northwest of the United States. Both of those environments are deep water so they will require floating platforms. I've just been down and talking with colleagues there about what they're doing in floating platform technology and found very interestingly that they're in the same spot that we are thinking about how you can find, how you can have durability and stability of offshore wind platforms. Something new that I saw was the coupling of wave energy with those floating platforms so you're doing hybridization. You're collecting power from the waves as well as collecting power from the wind itself. So we're doing a lot of work with offshore platform technology to try and understand how we'll let technology actually be able to be deployed. On the lower left you can see the turbulence tails coming off of a wind farm off of Finland, I believe. If you look in the cloud of that turbulence tails where the vapor's coming off, there's actually a second and a third and a fourth tier of wind machines that are dead in line with those turbulence tails. It turns out that the front machines can be tuned to optimize their wind fetch. When you do that, you actually destroy the wind fetch for the downstream turbines. And so when you're thinking about the wind machine and the wind power plant, you've gotta optimize for the power plant and we've actually shown that if you actually cut down on the efficiency of the lead turbines, you can actually increase the overall efficiency of the wind plant. You can manage the wind power plant in a totally different way. You have to understand that if you're gonna actually make the proper investment. Utilities need to understand that when they go to their banker to ask for the money to make the investment. So it's that type of modeling and simulation that we do to help the existing wind manufacturers and utility companies. We're doing all the work around, as I already said, the wind blades. We've got wind blade test facilities where we can run them through thousands and thousands of flexure modes in short periods of time to look at the durability of composite materials as well as looking at durability of gearboxes, direct drive systems, power electronics and so forth. Large push by our laboratory. Biofuels, biomass of course is the original solar collector. Photosynthesis is the original mechanism. We've done a lot of work to understand what that photosynthetic mechanism is and are trying to emulate it. It turns out the kinetics of photosynthesis are very slow. So it's very difficult to consider the idea of building a large solar collector using traditional photosynthetic techniques. And therefore we're working with a lot of the chemistry of solid state materials at how you can modify the photo collection efficiency of materials. I've already mentioned some of the techniques in films in that. In the biofuel, in the bio area we're looking mostly now at fuels. So we're looking at how you convert starches, traditional corn for instance, corn starch, to biofuels and using it as a fuel, turning it into alcohols. That of course is a common technology that is centuries and centuries old. We're now looking at how you deal with the recalcitrance of cellulose. So the stalks and stems, the grasses, how you can chop that cellulose into short change sugars and then digest those into alcohols. The next step in that sequence will be how you chop that cellulose into short chains and convert it into carbon and hydrogen longer change. So instead of taking a six carbon sugar, chopping it down to a two carbon alcohol, how can you change that six carbon sugar into a eight, 10 or 12 carbon polymer or normal alkane, which is euphemistically known as gasoline, diesel and jet fuel. So we go up the chain instead of down the chain and that's the next steps in the whole biofuel area. And we're following all of these pathways. The biological conversion, the chemical catalytic conversion pyrolysis, looking at algae and heterotrophic extraction of oils and then hybridization of these technologies to actually optimize a conversion system. Today we are burning in the United States 10% alcohol fuels. We will soon be going to 15% alcohol fuels. That's now been approved by our Environmental Protection Agency and we're about to put in place the blending systems to do that. Hopefully in the future we're gonna be going to gasoline, diesel and jet fuel replacements of hydrocarbons from our biological source materials. Transportation, we're seeing the same changes that you're seeing of course. We have lived with the internal combustion engine for 100 years plus. It's hard for me to look at any technology that has had that type of a lifespan, that type of a run. Continuous improvements of course occurred in the internal combustion engine but it's essentially the same technology that was established by Benz well over 100 years ago. We're seeing a transformation. We're going now to more electric platforms. The small engines that are on vehicles in the true hybrids are there to recharge batteries to drive the electric platforms. So those new electric platforms will need new technology and battery storage, motors, power electronics on board and new communication systems. You're also seeing great increases in vehicle to vehicle communication and vehicle to infrastructure communication. I foresee a time when we're going to see electricity transported from the infrastructure into the vehicle while the vehicle rolls. We're already doing work in that area, inductive charging of vehicles. You can actually see in some large downtown areas where a bus, an electric bus can pull up over an inductive coil while the guests get off the bus and new guests get on the bus. The bus is picking up a charge and it only needs enough charge to get from this bus stop to the next bus stop before it can get another quick charge. That's leading a new technology forward and I suspect that we're going to at some point in time see that an automobile on the roadway will be able to continuously pick up a charge off the roadway. That's a total new paradigm in the way we transport people. It will allow us to actually platoon vehicles of much closer distances together. I know you may feel that you drive, I feel that you drive very close together on the roads here in town. I don't drive that close to a vehicle in the United States. But we'll find on the major highways, in particular the United States, that we'll be able to get cars moving more safely, less congestion, closer together, a more pleasant driving environment for the passenger. All of that's happening and you can see the technologies that are being developed heavily by the automotive industry but our laboratory works closely with the automotive industry and all the power electronics and thermal management on board of vehicles. Buildings technology innovation, we have been in the buildings industry modes for quite some time. The building on the upper left there is our new office and light laboratory building that we just have taken occupancy of. The first two wings we've been in for a couple of years now, we've just taken occupancy of the third wing. On the roof of that three wing building are solar panels on the side or solar thermal collection systems and the parking garage adjacent to it has solar panels on the roof. Collectively, that building is 500,000 square feet and is a net zero energy facility. It was built at slightly less than what a traditional building would have cost us in the United States, built at building codes. So we've demonstrated you can build highly energy efficient facilities that can actually, that building will put a little bit of electricity back on the grid this year. It'll be slightly positive. You can do that in a cost effective way. Building integrated PV in the middle compressor-less cooling, of course, we do an awful lot of air conditioning buildings in the United States. I don't know the extent to which you do air conditioning in this country, probably not very much. Many parts of the world you cannot live without air compressor-based air conditioning. It's too humid, you have to actually dehumidify the air before you can cool it in order to then reintroduce that temperature into the cooler temperature into the building. So we're working with systems that don't require high compression energy in order to actually cool, provide cooling. Electrochromic windows, which are either electrochromic by flipping a switch or photochromic by simply having a light hit the window itself and convert that light, convert the window itself. My glasses, for instance, are photo gray. Perhaps other reviews have photo gray. It's a similar type of technology, only it's a more responsive technology. It's actually on-off type technology that's controllable. And then, of course, optimized control systems. And this whole issue of two-way fiber-based information flow and control, that's the way of the future. We know it's coming and it's gonna be introduced into each one of our homes. We're already seeing, in addition to fiber, wireless communication systems in home, managing many of your appliances and other utilities. We're gonna see that continue to grow in the future. We're working on those areas. Integration becomes really the important element here. I think you've heard me say integration a lot in the talk. We're moving away from individual appliances, individual vehicles, individual power plants, to more integrated systems. It's through that integration that we will see this great improvement of efficiency in our system. We know that and we're moving to actually do the research to demonstrate that. This building in the middle here is our brand new energy systems integration facility. Inside that building, we are running two megawatt scale AC bus bars and two megawatt scale DC bus bars. And it's a plug and play facility where industries can bring in their own new capacitor banks, their power electronic systems, new generation systems. We're able to stream in live data from wind power plants, from solar power plants, from nuclear power plants and coal-fired power plants. We can amplify that data up to grid scale and run them in live mode on our bus bar systems. We have a fully modern SCADA that can be reconfigured on a moment's notice to be able to deal with the changing technologies in the building. And the idea here is to be able to run those technologies in an integrated way, understand the weaknesses, understand the strengths, optimize the use of those technologies, and indeed run some of those technologies to failure so you know what the extremes of performance are in the technologies. This is one of a kind building in the entire world. We're now working with many of you know, Mark O'Malley at the University College Dublin. He's there in our facility today. We've had a long ongoing relationship with Mark's partnering with us in this facility as an example. Many, many universities and utilities are partnering with us and be able to do their next generation of power management research with us in that facility. So to achieve our vision, what we have to do is we have to invest in innovation. I've shown you that the number of dollars going into the energy sector relative to the cash flow in the sector are small, so we have to be very creative in the way we invest those dollars. I'm here to talk with colleagues here in Ireland about how we can leverage the meager dollars that we've got and the dollars that you've got and make more out of the pie than we have individually. I think that's the wave of the future as partnerships. We need to be looking at this innovation from a global point of view, even though the applications are gonna be at a regional point of view. We need to invent the future that we want. If we want to reduce our dependency, we need to work towards that. It needs to be one of our goals. If we wanna reduce our dependence on fossil fuels, that's gotta be one of our goals. We have to focus on that. So we need to think about work towards and establish policies that will move us in that direction. We need to improve the access to capital. Now, I can't work with the bankers and tell them to invest in something. I've gotta be able to show them the value proposition in doing so. So we work with the manufacturers and the banking community and the VC community to try and communicate what's that value proposition. There's gotta be public policy that comes with that that says we're gonna move in that direction and hopefully that will result in freeing up investment capital. And we need to partner on a global scale. And again, that's one of my missions here this week is to engage with colleagues here in Ireland to figure out where is that common ground, where are our common interests for investing in energy technology. Ireland has made some significant moves in this area. And as I've heard and as I've seen, Ireland could represent an excellent case. It's a contained island and it's large enough that we can demonstrate at scale but it's small enough that the investments aren't huge. Once that case can be made in an environment in a demonstration mode in a location like this, now we can take that algorithm and go to the much larger load centers around the world and show that energy can be used more efficiently. With that, I'm happy to take a few questions.