 So, I'm going to talk to you about clean tech, but first I want to ask you a very important question. What do Bill Gates, Steve Case, he's actually from Hawaii, which is where I came from today. Nancy Fund, I know you've heard from before at Socap. Pierre Omidyar, also a Hawaii boy. And Will Smith, what do these five have in common? Does anybody know? The hint is in the name of my talk. They're all clean tech investors. They're all invested in clean tech companies. So why, what does that mean? Well, in June, I was at the White House. This is me at the White House headed in for the Clean Energy Investment Initiative. But more importantly than me being there, Vice President Joe Biden was there as well. And they were there to announce a $4 billion initiative called the Clean Energy Investment Initiative. There was commitments from foundations and family offices doubling their goal of $2 billion of commitments over the next few years to invest in clean energy innovation. And not only were they there announcing that, they were there announcing the Department of Energy opening a new Clean Energy Impact Investing Center as a way for family offices and foundations to learn more about the technology of energy. They're also investing new rules from Treasury around foundations investing in these kinds of areas. And even more importantly, they were there announcing Will Smith's new investment into his first clean tech company. And so this got a lot of buzz, of course, how Will and Jada Smith's foundation ended up backing a little known energy startup. And the little known energy startup they backed is called Quidnet. And it's an energy storage company that actually stores energy in underground pockets of air like caves. Which, of course, made us try and invent some new movie names like Men in Black Caves. We didn't like that one that much. Maybe Independent Investors Day. Still working on it, my favorite is the Fresh Prince of Clean Air. Something we're all working on. And really the question is, how do you bring these kinds of investors and these kinds of people that are interested in the future of our world into clean energy innovation? It's a new area for them. It's highly technical. It's not something people are generally comfortable with. So let's talk about what is clean tech anyway? Clean technology. You probably know a lot about solar and electric vehicles and energy efficiency. But clean tech is much broader than that. So you can think about women's literacy and clean tech can actually support women's literacy. If you care a lot about drought and what's going on in California and other parts of the world right now around water, clean tech technologies can help. And if you care about children and education, clean tech can enable those kinds of things as well. So clean tech is much broader than what we generally think of as just solar, just electric vehicles or transportation. It can actually help children in Tanzania learn to read at night. It can help women in Nicaragua find clean water for their families more easily. And it can help micro entrepreneurs in Thailand provide distributed cell phone networks to many people. So clean tech is a much broader category than many impact investors or foundations even think of. And as energy accelerator, which is the organization that I founded in Hawaii, and invests in a number of different clean technologies, we think about this as a full system. So anything that impacts our infrastructure or environment, the place we live, we consider that clean technology, anything that helps make our place better. So for us, that's clean transportation. It's vehicles as well as mass transit and data. It's clean water. It's security to help secure the grid. It's a renewable energy, energy efficiency and sustainable agriculture. We actually have a cattle company, which surprises some people. So foundations historically have been very involved in this space. Between the two world wars, foundations invested $100 million in basic science to support clean technology and to basic research around these kinds of things. What we've seen over the last few years is most of the money coming from foundations, the biggest part of the pie is not headed toward these kinds of big problems and solving these kinds of problems. The biggest part of the pie is headed to technologies that you probably use every day like Instagram and Snapchat, and I love Instagram too. But these aren't technologies that are necessary to solving our big long-term, hairy problems that we have on this planet. So over the last few months in particular, what we've seen is the impact investors coming back into this space and looking at how they can bring their dollars to commit to some of these long-term problems and bring some long-term solutions. There is a lot of funding in this space. One of the companies that we talk about as an example is a venture capital firm called Venroc, which is a fantastic venture capital firm. Venroc is venture and Rockefeller. And back in between the two world wars, they spent a lot of money investing in really important big idea technologies. So think aeronautical engineering, rockets, lots of health and basic science. And they're still investing in those things, but now they're also investing in really high-tech stuff like Dollar Shave Club. That's one. Twitter analytics. And internet advertising. So we've seen this huge shift in Silicon Valley in the venture capital world into things that have faster returns, which makes a lot of sense if you're a venture capital investor, but also things that aren't addressing those same large problems. So our mission is really to bring much of this money from these foundations back into this space and talk about how long-term commitment to these problems can be a great match for impact investors who have a long-term need to see their dollars at work. The market is still there. In global GDP, energy is actually 10% of global GDP. It's a huge market. There's a lot of money flowing through energy every single day. You probably see it flowing in and out of your wallet personally. That's compared to just 3% of the internet. So the internet is a third of the economic size of energy. But if you look at where the venture capital funding is going, only 2% of it is going to energy, whereas a full 25% of that goes to the internet. So you can see here that the market is there, but the time horizon for many investors may be different. This is where we're really coming into play and trying to bring impact investors back into this space. There's a lot of money out there from these various foundations. In the U.S. alone, there's $600 billion in private foundations. About 1% of that goes to grant making a year, but only .1% of that goes to clean tech and energy. So why is this? What is this gap? Clearly, we all know that climate change, drought, large agriculture, these are all large problems that people want to solve. So why aren't we seeing more dollars in this space? Well, there's a number of reasons why they should come back, and I'll talk to you about three particular reasons right now. The first reason is impact. So I talked a lot about the various sectors that you can be in. But I think what's really important is to realize that climate change in particular affects those who are most vulnerable. So if you're worried about malaria, if you're worried about disease, if you're worried about hunger, women's empowerment, climate change exacerbates many of those challenges. So clean tech can help on many pieces of this challenge. The second reason that's really critical for impact investors to get in right now is timing. So this has a couple different pieces. I talked to a Wall Street executive recently who told me that we're 40 years into a 100-year transition in energy. But the trick is that the change is actually accelerating right now. So it's not a linear path of how this change is going to happen. We're seeing very rapid transformation in the energy sector in particular, as well as in transportation and water. And over the next 10 years, we're going to be making decisions that determine how the next 100 years of infrastructure is going to look in this country and around the world. Massive growth going on across the developing world in China, in India, but also massive transformation here in the United States and in developed countries as well. So we're really looking at how we make investments right now impacting the choices we make for future generations and what our children live with. So timing is really critical. The other thing about timing is that many of these technologies are hardware technologies. So there are things like what I have in my hand. They're not just pure software technologies. But this is a very special time to invest in hardware companies. I would say that investing in a hardware company now is a lot like investing in a software company maybe 15 or 20 years ago. So what you're seeing with 3D printing and rapid prototyping is the same thing that personal computing and the cloud did for software about 15 or 20 years ago. It speeds up the process of innovation and makes it more possible. So that's the kind of change that we're seeing in the hardware space and it makes it a really interesting time to invest in these technologies. And finally, the third thing which we all care about because investors as well as impact investors is returns. So one of our portfolio companies is an example of a company called STEM. They raised $45 million this year alone as they're scaling their company. It's an energy storage company. It does distributed energy storage across the system. They're seeing huge customer traction and creating massive value for their investors. So there are companies that are doing really innovative things and the returns are there if you know where to look. So the question that we get a lot is, we know this is a big problem. We know this is something that we want to play in, but how do we get started? How do we engage? So there are two important tools for impact investors that you can use in getting involved in the clean energy space. One is the program-related investment. Other is the mission-related investment. These are things that you, as foundations, are very familiar with already. But both of these can play in the clean energy space. For program-related investments, which is the 5% of your foundation funding, the requirements are that the funding that you put toward your investments furthers your mission and wouldn't be done except for the fact that you have that mission. So these funds can specifically go toward some of the longer-term areas of energy investment that wouldn't otherwise make sense. And the 95% side of the equation, which is the mission-related investments, there are also returns-based organizations and returns-based investments in this space that can be highly impactful now. So those are two important tools for foundations and impact investors. And finally, you don't have to do it alone. There are a lot of partners out there. There are many friends at Prime in Boston. We're the energy accelerator. There are many networks of different kinds of organizations that are pulling this together. So for many larger family offices, they'll actually set up a staff of people that will do due diligence, have the technical expertise to pull in these deals and assess them and track them over time. But for many smaller family offices or smaller foundations, it may not make sense to make that very large investment up front. It may make sense to partner with other organizations, and there are many of them out there. And actually, more every day, there's a phenomenal network now of organizations that are supporting clean energy companies and clean energy startups and clean tech startups across the field in general. So our friends at Prime are a great example. They're the ones that Will and Jada Smith's foundation engage with to make the investment in QuiddNet. So these are huge, important resources and networks that family offices and foundations can tap into to develop their own expertise, and they don't have to do it from scratch. With the Energy Accelerator, when we were at the White House, we announced a new investment fund to invest in our portfolio companies. So we bring public funding to bear, investors bring private funding to bear, and it's a true public-private partnership. There are many new models out there for people to engage in this space, and I'd be happy to talk to you more about that. So Aloha from Hawaii. I hope you will join us in jumping on this wave. It's the right time for impact investors. We're really excited to be on the journey with you. Thank you.