Morning, everyone. Sorry, I am a few minutes late. John Gibson, CFO of Electrovaya. We are a battery technology and manufacturing company based out of Mississauga, Ontario, and soon to be Jamestown, New York. Safe harbor statement, I assume you guys have seen that many, many times. Who are we at a glance? We have an incredible advantage when it comes to safety and longevity within our batteries. You cannot find a competitor with the cycle life and the safety that we have. We have over 40,000 batteries in operation right now with zero safety incidents. We have a number of blue-chip customers and partners. Recently, Amazon signed a warrant deal with us. We have been supplying them since 2021. Our OEM partner is Toyota, who have the largest market share in the world of material handling. And we have a number of customers within the U.S. and globally. We are opening our first domestic manufacturing facility in Upstate New York in a little town called Jamestown, which has The Comedy Hall of Fame, if you are ever going past there. It is also the birthplace of Lucille Ball. That is a little tidbit for you. And over the past couple of years, we have really improved the financial position of the company to allow us to grow the business and expand into the different verticals. Why is safety important? Within material handling, when you have a building with billions of dollars of goods in it, the last thing you want is for it to go on fire. Here is a couple of different examples of when that happens, and when a lithium-ion battery goes on fire, it actually produces oxygen, so it is very difficult to put out. Fire brigades will just let them burn. Essentially, if you have an incident, the building is gone. What we provide there is a fully ceramic separator. In every single one of your computers and phones here, you have a polymer separator, which is essentially plastic. When it gets warm, that will shrink, and you will get what is called a thermal runaway. Once that starts, it does not stop. It will go to the next cell and to the next cell and to the next cell. Our technology is built around having zero fires because we have a ceramic separator, so it does not shrink when it gets warm. It also does not degrade either because it is assembled at a very high temperature, unlike the competitors. Here is an example of what happens when you heat up a polymer separator. It gets very, very thin. It is like a plastic bag. You set a plastic bag on fire, it will shrink, whereas we maintain the size and the intensity of the ceramic all the way through, regardless of the heat. And this has all been tested by UL, by TÜV. So third-party testing has confirmed everything that we have already said. What we offer to customers is the safety and the longevity. One of the benefits of having such a safe battery is that the actual cycle life of the unit itself is massively increased. If you were to go and buy an off-the-shelf lithium-ion battery, you would maybe get 4,000, 5,000 cycles out of that. And a cycle would be from 100 to zero. From zero to 100, that would be one cycle. Our offerings are 15,000 cycles. You are going from a life cycle of, certainly in high-use applications, of maybe two to four years to right beyond eight years. The first forklifts that we actually put our units in, which was in a Walmart Distribution Center in 2018, are now on their second vehicle. Rather than replacing the power at the same time as the vehicle, you can just drop it in. What does that do for the customers themselves? Not only do they get the safety and the longevity of the vehicle, but they get increased performance as well. Every single one of our customers, really, what they do is they just move goods. If you are using a lead-acid battery in one of these vehicles, you are going to get a performance which is at the highest level when the battery is fully charged, it is good. But as the battery drains, it reduces the efficiency of the vehicle itself. You cannot move pallets as quickly, you cannot drive as fast. Maybe you cannot lift something up to the second shelf. You have to get someone else to come in and do it. Whereas the power that we provide to the vehicle is constant throughout the charge of the battery. You can increase the number of pallets that you move. The more goods they move in and out of the building, the more money they make. The cost of ownership in these instances is low. The return that they get on the investment they make, because our batteries are more expensive, is very quick. This is really key for these mission-critical applications. People who need to work 24/7 in every aspect, in forklifts and robotics and energy storage in a minute, this is when they really need this technology and the advantages that we can bring. Where do we sit in the whole battery landscape? Within material handling, there are a lot of different options available if you want to power your forklifts, but only one of them will give the longest cycle life and the highest safety. You decide on your investment. Do you want to have to replace batteries after a couple of years, or you want something that is constant and reliable for the long term? But obviously, that is very different from your traditional lithium-ion and other chemistries as well. Material handling is kind of a hidden industry. You do not really see what happens behind closed doors. All I see is the Amazon package on my way for it on the front porch. But the market itself is huge. There are millions of forklifts in operation, not only in North America, but around the world. The majority of those are powered by lead acid. That technology has been around for 100 years. It is good, it is cheap, but it is going the way of the dodo right now. What we have done is positioned ourselves with the more sophisticated buyers, Amazon, Walmart, Home Depot, to provide them an offering that meets their high standards in terms of operations, but also is financially viable because of the benefits that it gives and the return of their investment. But this technology is also applicable to a number of other industries and markets, and these are all the things that we are looking to go into. Firstly, energy storage. Our ultra long cycle life means that your energy storage system can last 15, 20, 25 years as opposed to being replaced after five because they are full of laptop batteries or car batteries. This has really become more important recently with the advent of the data center rush, and this actually, we are positioning ourselves very well with the expansion in Jamestown to meet this increased demand. Robotics is another expanding market as well. Amazon are actually the number one purchaser of robotics in North America. They have about 2/3 of the current robots that are in operation. Airport ground support equipment is another thing that is being electrified quite quickly. There are a number of airports who are retrofitting their existing ICE engine vehicles to lithium, and that is another industry we are looking to get into, or are getting into. Finally, defense as well. We have a couple of defense contractors that we deal with right now, and we are looking to expand that in the coming years. Some of our customers, we have a strategic partnership with Toyota Group, so Toyota and Raymond, which is another brand of that business, and obviously Amazon. Our OEM customers, being Raymond, Toyota, Bastian Solutions is a robotics company. It is an arm of Toyota as well. Jabil is quite a well-known, I guess, multi-industry company based out of Florida. Some of the customers, blue-chip customers there on the screen, Amazon, Walmart, Home Depot, these are all guys who move things. Amazon obviously have their fingers in a lot of different areas. But if the market sentiment really is that CapEx is moving away from material handling towards AI and these data centers, there are still a number of companies out there who have no business with data centers at all. Walmart, Home Depot, all the 3PLs, guys like FedEx, DHL, GXO, Cencora, they are all going to be moving goods, and consumers are not stopping buying these goods either. On to the energy storage. We recently announced this system. It is a 1,500 V DC system. We are using this to target either your data centers or a warehouse. It does not really matter in the application. It provides the same benefits. But currently, companies, what we will be using is your grid scale storage, so a Tesla Megapack or a CATL, or now Ford, I guess, storage container with two to four hours of energy. And it is all good for grid scale purposes, but when you are looking at dealing with smoothing the energy that is coming into a building and the peaks and troughs that those data centers experience, having a slow trickle and a slow charge energy storage system does not really do the work that needs to be done. What we need to look at there is how do we deal with the peaks that last seconds to minutes instead of hours? There is never going to be a situation where there is a blackout and a four-hour energy storage system has to be switched on because every single one of these buildings has a gen set that will trigger and it will power the building. What we are looking at is to have really fast response and very high power to deal with these peaks and troughs. That works to not only help the performance of the actual data centers and the chipsets, but it's also beneficial because it removes the need to pay for these peaks. The power companies really don't like it when the power is going up and down. You pay through the teeth for that. As we commission Jamestown and get that ready, we will be manufacturing 100% of our energy storage systems out of that location. That would then qualify for 48E tax credits. Anybody who buys one of these containers gets a 40% tax credit immediately. On everything. That's the container, the installation, the utility hookup, everything is covered. It really levels the playing field in terms of cost because you can go with a cheap [alien] offering, or you can buy American and the price is pretty much the same anyway. Some of the benefits that I just mentioned, the instant response to these peaks that they experience, our system will actually charge and discharge very quickly, so it can hold onto that power that's required. It can be right back and doing its business very quickly. It's going to last a long, long time. Your typical BESS systems, they don't get as many cycles because you're never using as much energy, so it's maybe 4,000 or 5,000 cycles, whereas ours are lasting 15,000 +. It's a unique offering in the energy storage space. No one currently has this. I'm sure everybody's going to try to do it, but we're looking to be the first mover in this area. The second application for BESS is actually going to be inside the buildings themselves. NVIDIA recently launched a white paper talking about the 800 V architecture. We're actually developing a very fast charge cell to cope with that. This would be for the next gen of data centers. This cell would be charge, discharge in under five minutes. You can put it very close to the chipsets themselves. It operates in very cold environments as well. If you're chilling the whole building, you don't need to worry about the performance of the battery when it's cold. Obviously, it has the same safety aspects as our existing cells, and it lasts a very long time. These are just some of the advancements we've made over the past 12 months or so. Not only are we looking at existing technologies, we're also investing in next gen. We have a solid-state technology that we're currently developing in our labs location, close to our main facility in Mississauga, Ontario. I know there are a lot of companies out there who are trying to develop a solid-state battery. They're spending billions of dollars. They're raising money and spending it all on R&D. We're doing the same and getting the same results as them on a fraction of the investment. That's just a testament to the quality of the engineering team and our know-how in the battery space itself. What do we want to do going forward from where we are now to where we will be in the long term? Material handling has been the backbone of our business and has allowed us to really build a financially stable platform that has sent us into these other verticals. Our technology, we knew from the offset we could apply it to robotics, to energy storage, to defense, to all these different applications, but we didn't have the stable platform that we do now to allow us to go into that. We didn't want to take our eyes off the road, jeopardize our financial future just to look at chasing an opportunity in one of these different industries. We've built this platform. We're great gross margins, and I'll go through those financial numbers in a second. Positive operating profit, positive EBITDA, net profit. It's difficult to find a battery company that also has all of those metrics in the green. What that's allowed us to do is to push into these other industries. Robotics and airport ground equipment and energy storage have all been launched this year. Energy storage deliveries will happen next year in 2027 once the facility is up and running. Mid-term, beyond that, we'll be looking at introducing the fast charge cell for the 800 V architecture data centers. In the long term, it's solid-state. Right now we have our locations in Mississauga, Ontario. We're expanding into Jamestown, New York. We have an office in Japan. There's a lot of opportunity in that area of the world. We have a relationship with Sumitomo Corporation, who are a trading house but have a lot of connections within Japan for applications that would be suitable for us, including mining, construction, and robotics. We're looking to expand into that region more in 2027. Currently, the Jamestown facility is a 137 sq ft building in Jamestown. It has 52 acres, so the campus is huge. We can expand that as required, but it provides us with a low cost of electricity for manufacturing, actually the lowest in the United States. We have support from the county. We have support from the state. We also have a loan from EXIM Bank to fully fund the equipment purchases of that building. We qualify for the 45X tax credits, which would provide us with about CAD 10 million of cash on an annual basis for everything we produce out of there. We meet the domestic manufacturing requirements for things like energy storage, defense, and the like. This is some of the equipment that's going to be installed in Jamestown. This is undergoing factory acceptance testing in Korea right now. The whole line has been set up at the manufacturer. We're testing it from start to finish. Once that passes all of our key metrics, we will disassemble and ship that over to Jamestown. Commissioning of that equipment in Jamestown will start in December, and we expect it to be producing commercially viable products by the end of the March quarter, so end of March, start of April of 2027. From a financial point, the company's improved massively over the past four years. I'm not saying it's all because I'm there, but that's just what's happened. Trailing 12 months of $72 million of revenue and $12 million adjusted EBITDA. We've continued to maintain positive EBITDA for the last 13 consecutive quarters, and we've got six quarters of positive EPS as well, which has been a real shift in the financial performance of the business. How do we finance growth as we continue to go on into expanding Jamestown and going into these other verticals? Well, we secured a CAD 51 million loan from Ex-Im Bank. We have also started discussions with them if we have to expand Jamestown, how would we fund that as well? They are more than happy to lend a helping hand to grow that campus and to add on another building. We refinanced our working capital last year with the Bank of Montreal, so they provided us a $25 million ABL, which is essentially our working capital. We are able to take advantage of the 45X tax credit, so that cash will come in as soon as we start manufacturing out of Jamestown. We will not be paying tax, though, so we will be looking to probably sell those in the secondary market, but we have already had interesting parties reaching out. Most importantly, we are improving our cash flow on a monthly basis. Going from burning significant amount of cash to generating cash has been a real transitional moment for the business. A quick snapshot of the balance sheet there. That is us. Happy to take any questions if anyone has any. Yeah, 800 V would be for next-gen data centers. Everything that is being built right now is 1,500 V. So 800 V, yeah, that would be as a natural progression, the way things are going to go. It will probably change again after that. So we would just pivot towards 800 V on the outside and the inside of the data center when that happens. We would look to have orders before we started manufacturing. That is certainly the case. We just released the product, though. Those conversations, the hyperscaler conversations, obviously Amazon is in that conversation as well, but we have not guaranteed them any capacity. But they would be there. We have other hyperscalers we are talking to, and then the guys who are actually constructing the data centers as well. That is a good question. The ceramic separator was actually first produced back in about 2015, 2016. At that point, the company was not in a great financial position, so we thought that it would be prudent to try and sell that IP. So we took it to all the main battery manufacturers in Asia and said, "Do you guys want to buy this? It is going to do X, Y, Z to your battery." They said, "Oh, that is interesting. Can we bend it?" "No." "Can we shape it in any other way?" "Not really." "So we would have to change all of our manufacturing to incorporate this in?" We said, "Yes." They said, "We will pass." It is also more expensive, so it would increase the cost to the consumer. That is maybe something that these guys did not want to do. So we have gone through that process of trying to sell that. It did not work. Thankfully, it did not work because we are where we are now. We are the only company that has commercialized the ceramic separator. No one else currently uses it. We have a lot of IP around that separator, but a lot of it is really the knowhow of how to handle ceramics and what they can do. Obviously we do not want to put everything on a patent. I do not want to give the world a recipe to how you make our secret sauce. But it has been a blessing that we did not sell it. Actually, we have made some pretty significant advancements in that separator itself. It is about 25% thinner now. The next-gen separator is about 25% thinner, and we think we actually could wind it at that thickness, which would obviously mean we can go after the more traditional cylindrical cells. Yeah. [audio distortion] Most of it is protected by patents. You do not want to put everything on a patent because the know-how is secret to us. It would be very difficult for anybody to replicate that on a scale that would perform the same level that ours does. Revenue guidance? Or guidance would be buy the shares? I do not know. We gave guidance at the end of 2025 for 2026. Obviously, there was a macroeconomic geopolitical situation, it has not been great for some of the customers that we sell to. Certainly, we were expecting to go into airport ground support equipment a bit more this year. Obviously, these guys are paying through the teeth for fuel. That has curtailed some of the CapEx budgets. We expect material handling as an industry itself to probably grow 10%-15% over the next year, and then two years, maybe it increases after that. As we kind of continue into these other industries, our opportunities for revenue growth certainly increase. Yeah. [audio distortion] Certainly an interesting area to go into. One of our partners, Jabil, who are, I think they build Amazon's robots right now. They are moving into humanoids. We power some of their robots as well, so that would be a discussion that we definitely have. In terms of the battery that would go into them, we are obviously on the more expensive side, just because of the benefits you get. I do not think humanoid robots are going to be cheap, so maybe it is a good fit. Definitely not ruling it out. [audio distortion] I am not an engineer, so I will do my best. Essentially what it would do is it would just provide very fast response to any peaks that are required. If you are getting in the seconds of peaks, it just kicks in and then makes sure that that energy level is constant as it goes into the GPUs. Because the performance not only is affected by- [audio distortion] You could, in theory, put it in a GPU. You could put it in a chipset, yeah. Otherwise, it would sit very close to the rack, yes. Yeah. [audio distortion] We have made some shipments to South America. We have a couple of distribution centers in Argentina and Chile, also in Australia as well. We do have some outreach. Those are our easier targets. Europe's difficult. Europe doesn't have any restrictions on Chinese imports, so it's really cheapest battery wins in that instance. Difficult to educate when we don't have boots on the ground either. That process of expanding into Europe is maybe a little bit slower. But certainly into Japan and Singapore, is something that we're discussing with customers as well, yeah. [audio distortion] Not necessarily. I think we may be the only company that ships batteries to Japan. Usually, it's coming the other way. We'll continue to do that until, I guess, a point where the demand cannot be met by the North American facilities, in which case, we would look to maybe it's assembling, maybe we're not manufacturing the cells. Maybe we're just shipping the cells over and the batteries are being assembled in Japan. But we'll be proactive in that sense. We're not going to be reactive where the demand's there and suddenly we can't meet it. So we're definitely keeping a close eye, and we're partnering with really good companies within these areas as well. All right. Thank you very much.