Good morning, good afternoon, everybody. This is Sebastian Koks Andreassen speaking, the CEO of the company. A warm welcome to this conference call on Green Hydrogen Systems trading statement for Q1 2023. We're delighted to have you here. Before we crack on with the report on the quarter, I would like to remind you that what we cover today will include forward-looking statements, and please be aware of that. Also please refer to the overview of risk factors section in our recent annual report for 2022, which is available at our corporate website, greenhydrogen.dk. I'm joined today by my two colleagues, Ole Vesterbæk, my CFO, and Jens Holm Binger, who is our Head of Investor Relations. Jointly, Ole and I will cover the ground with you today. The agenda we have put in place will include a business update, firstly covering the recent events and the near-term value milestones of the company. We will provide you with an update on the A-Series and X-Series of the company. Ole will cover the guidance for 2023 and also the recently announced medium-term targets for 2026. I will comment on the capital increase process that is ongoing, we will be very happy to take any questions that you may have after some closing remarks. With that said, on the business update, firstly, an overview of the significant events and multiple near-term value milestones. On the left-hand side, we are looking backwards, and we take positive note on how the market has developed the past year and also the past quarter, including in the U.S., the Inflation Reduction Act that was put forward by the Biden administration towards quarter four of last year, and also the EU response to that. As a company, we have continued during the recent quarter, where we ended the year 2022 on delivering further of our A-Series units to customers, also allowing us for this quarter to revenue recognize on these orders. Lastly, we also during quarter one have had the pleasure of firstly taking the largest order to date in January, which we did with a U.K. customer of 7.2 megawatts. Also later on, in March, we also announced recent changes to the board of directors and also the addition of very capable hands to the C-level team. My colleagues have been expanded during the first quarter and in March with a new CTO and also a new COO. Looking forward, towards 2023, the program is, as we also reported as part of the full year announcement in March, we are very focused on, of course, scaling the A-Series and, now having started delivering on the order backlog on the A-Series. As I will touch upon later also, towards the end of March, we had the great pleasure of reaching the milestone where we shipped the prototype version of the X-Series to its test and, to its test site in Denmark. We are also targeting towards the end of the year on the X-Series to resume or to start up X-Series sales for that version once we have more test results conducted. Part of the program today, I will comment on the ongoing capital raise that we announced back in January. Firstly, on the A-Series, we have, as said, continued in first quarter of delivering and revenue recognizing further A90 electrolyzers to 2 customers. That has allowed us to revenue recognize for the first quarter DKK 14 million, and Ole will cover that further under the financial section. These electrolyzers have been delivered to customers and revenue recognized, and we have also continued delivery of additional electrolyzer units, which is an ongoing flow, obviously, to customers around Europe. We can also say, and that remains as we reported in March, that the challenges related to the A-Series electrolyzers that we reported in April of last year, they have been managed and we have taken very positive note on the improvements and the learnings from these difficulties, which makes our system much more robust today than even a year ago. Right now, the focus in on industrializing the production facilities, the newly inaugurated facilities, of additional square meters up to now 18,000 square meters. We are, with our competent operations team, scaling that for serial production of up to potentially 400 megawatts capacity in a couple of years. The majority of the current order backlog is expected to be delivered in 2023, and there will be a tranche of that following with delivery in 2024. Our sales team are, of course, heavily engaged on creating further sales to that which will be reported as we have or when we have signed further contracts. With that status on the A-Series, I will now comment on the X-Series. You're here, for those of you watching, looking at a fantastic picture of the actual test site for our X-Series. It's on the overall GreenLab facility in Skive, Denmark. You can here see the tents or building where the prototype of the X-Series that you can actually look at on the back of the truck there, will be installed. This 6 megawatts module, together with a power module, will be installed on this facility. This part of the EU GreenHyScale program will allow us very important and valuable test results over the next coming quarters. Firstly, we are in quarter one and also towards in the first half, we are focusing now on the installation of the equipment, and that will be followed by another quarter of testing on that equipment. Expectedly, by the end of 2023, we will be in a position where we can, based on these test results, make a decision to switch into mass version production of the X-Series and also take the first sales on commercial contracts for this product. Until now, it's a prototype, the first of its kind, and we are also in parallel manufacturing and finalizing the prototype number two, which we will also send to a test site that has not been yet announced. Overall on the X-Series, very positive traction and clearly, as you will also appreciate in a moment when Ole Vesterbæk will comment on our medium-term targets for 2023-26. The X-Series is a very significant component in building up revenue and the further commercialization and commercialization of this company. With that said on the products, I'm very delighted to hand over to you, Ole, who will comment on the guidance for this year, 2023, as well as, of, our medium-term targets. Please. Thank you, Sebastian. In the following, I will update you on the guidance for full year 2023, as well as our new midterm targets for 2026. As earlier communicated, as part of our annual report, we did the first successful acceptance test deliveries and thereby revenue recognition of our A90 electrolyzers in December 2022. In Q1 2023, we continued to deliver and revenue recognize A90 electrolyzers to our customers, while also observing a positive progress on assembly of additional orders from our backlog. With that in mind, we maintain our guidance both on revenue, EBITDA, as well as investments. Revenue is expected in the range of DKK 120 million-DKK 160 million. The revenue range is substantiated by recognized orders as well as our current order backlog. EBITDA is expected in the range of minus DKK 240 million-minus DKK 210 million. We continue to invest in the sales organization and in marketing efforts, while also focusing on R&D activities to further strengthening our competitiveness of our products. Investments are expected in the range of DKK 270 million-DKK 300 million. The investments relate, among others, to production scale-up, the X-Series production line, X-Series prototype 1 and 2, as well as, additional test capacity and facilities in Kolding. It's important for me to state and stress that the revenue guidance range reflects the uncertainty of the exact timing of our electrolyzers passing revenue recognition criteria within the 2023 calendar year, and that revenue and EBITDA may be negatively impacted by the example supply chain disruptions, increasing component and raw material prices, general inflation, and/or delays in product assembly. Then I'll go into our medium targets for 2023-2026. Back in March, in connection with the release of our annual report for 2022, we announced new medium-term targets to include the financial development for 2026. By 2026, we target total revenue of more than DKK 1.2 billion and a positive EBITDA. Revenue recognition of 150 megawatt of electrolyzers capacity in 2024 is corresponding a revenue of around DKK 1 billion, including service revenue. Successful development and commercial ramp-up of the X-Series is expected to be a significant growth driver. From 2024, the X-Series will become the main revenue contributor when the X-Series electrolyzers are expected to be delivered and revenue recognized. Demand for the A-Series electrolyzers is expected to continue around the same level as in 2023, based upon various decentralized central applications and projects. The revenue growth is expected to be the main contributor to the targeted EBITDA development. In addition, our cost out plans is expected to contribute to the gradual improvement in our margins with clear cost out targets expected our cost of goods sold to be around 75% of our revenue in 2026. We continue targeting cost out of around 50% from the X-Series and 20%-30% from the A-Series in 2026 compared to current cost levels. The revenue and EBITDA development towards 2026 are sensitive to a number of key assumptions, including particularly the future timing of the validation of the X-Series and the subsequent sales and delivery. The medium-term targets will be continued on a capital increase during 2023, which Sebastian will update you on the next slide. Thank you very much, Ole. Following from that, we did, as the company announced back in January, that we were targeting a capital increase of up to DKK 650 million in gross proceeds, approximately DKK 600 million in net proceeds. That capital raise will be supporting our continued investment level, the commercial development of the company, and the new and updated medium-term targets, as Ole just reported a moment ago. Together with our advisors and our main shareholders that we have been in dialogue with all along, we have also assessed the current financial market sentiment. Altogether, we have concluded for now that we do not feel it right to pursue a rights issue as an instrument in quarter two of this year, as we have previously announced as part of our March communication. However, we are still very keen, obviously, to raise further capital and also to have that done now. We have, with our board of directors and our advisors, now issued a plan where we are raising a capital increase of approximately half of this 650 million DKK, also by Q2. We will look into how to do that in other combinations of debt and equity instruments. Altogether, as said, these net proceeds will be supporting, firstly, the continued investment level of the company, but also the further commercialization and the new medium-term targets. We are also here on the right-hand side stating the five areas in particular that we do expect to invest in the years to come. Firstly, we see ourselves very much as an R&D-focused company, and we will make sure that we continue investment in research and development to improve both the current A-Series and also the future X-Series, in particular towards commercialization, and at that stage also to become even better and more efficient on the system performance. In other words, how much hydrogen we produce based on the electron energy value. Secondly, we will also continue investment in our production industrialization and the scale-up of the facilities. We have, as reported, inaugurated and built new production facilities in Kolding, Denmark, but we will also continue to invest in the ongoing scale-up optimization of these facilities. We will also continue investing in sales and organizational ramp-up all across, but in particular around the technical functions. For commercial, also make sure that we tap into the very attractive recurring revenue stream of the service business. We will now also start investments in building up that service business as part of our total revenue model. We also need strengthening of our balance sheet. That is a requirement that we can fulfill certain security guarantees required by our customers, and that is going hand in hand with the larger and larger project commitments by size and also financial extent. Important also to strengthen our balance sheet. Lastly, to, of course, to make sure that we have sufficient working capital to operate at the growth of the company. With all those five areas indicating use of proceeds, we are still committed to raising capital by quarter two. As said, we may foresee a different instrument compared to a rights issue as originally reported, and we will of course come back to the market and to you, our investors, when we have more news to report. With that said, we are nearing the closing remarks, I mean, remarks, and after that, I will open up for questions and answers. As a quick recap, we see our A-Series platform as significantly matured and also de-risked, based on the past year's events. We are very pleased to continue for the second quarter in a row of recognizing revenue of DKK 14 million. The... undertaking installation, and that will continue into further tests and validation during quarter three. We will also come back to the market with more results from that in due time. Ole put forward the new medium-term targets, announcing that back in March, with the total revenue exceeding DKK 1.2 billion and a positive results from operations EBITDA by 2026. Lastly, as I just covered, very importantly that we are continuing progressing the capital increase process that we have already announced. With that said, please operator, back to you and the team here and I, we are very willing to take any questions that may come in. Please. Okay, perfect. Thank you. Ladies and gentlemen, if you would like to ask a question, please press star followed by one on your telephone keypad. That's star followed by one on your telephone keypad now. We wait a couple of moments. I can see a couple of questions coming in. Our first question comes from Casper Blom from Danske Bank. Casper, your line is now open. Please go ahead. Thank you very much. I have just a couple of questions, and I'll take them one by one. First one goes to the A-Series, both the ones that you recognized in the revenue recognized in Q4 and now here in Q1. If you could maybe give a little flavor to how these are operating. Is it functioning completely according to plan, i.e., there is no need for additional servicing or monitoring or maintenance of it? Is it as it was expected to be a couple of years ago? That's my first question. Thank you, Kasper. Good afternoon to you and, your question noted. Firstly, in order, and that sits in our revenue recognition model, in order for the orders to leave the factory and to be accepted by customers, they will need to undergo certain performance tests. Those tests are tests that need to meet satisfactory results. At the moment, they are tested. We are expecting, as for any of this equipment, and in particular because these are the first versions that are leaving the factory, that they need may need more attention in the startup and commissioning phase with the customers when they are out there. In terms of the level of service, maintenance, and parts, if that was, I take the liberty of recapping, that was the nature of your question? Some of these equipments also coming from the difficulties we faced last year. We have committed to these customers to come back and make certain corrections, and that includes, not least, for the equipment where the stack is not delivering according to the contracted performance level. We will come back and undertake corrections of that at a later stage. We see that very much as a startup thing only, not as a permanent thing. Since this does relate to the first of these equipments, that is commitment we have for our customers. That has been fully reflected in our financial numbers in terms of adequate provisions which are relatively moderate. Okay, if I may follow up, Sebastian. When you are then shipping units, A units out of the factory today, are they as they should be so that you don't have to come back and fix anything on the stack on those ones? Yeah. It depends on the contractual terms under which they are committed. Some of the contractual terms, Kasper, they are in line with our system performance. Others, mainly contracts of, what can you say, of, dating further back. Some of these contracts, they are committed at levels with higher performance criteria and where we may need to come back and make certain corrections to these equipments, as we go along. I expect that, for when this is all normalized, and we expect that to happen over the next quarters, and we will start then delivering on the fresh and new contracts, this will not be a phenomenon anymore that we will need to come back and make corrections on these equipments. inevitably, we have to to work ourselves through the order backlog also consisting of relatively old contracts with higher commitment levels than we would make today. Okay. Understood. Secondly, on the X-Series, you mentioned that you are now constructing a second prototype, which will also go into to some sort of test facility. Could you talk a little bit more to what that is? Is that a second commercial project lined up, or is it a, yeah, you're self-sponsoring a second test? Just a little bit of flavor on that would be useful. Thank you. Absolutely. I'll be pleased to. Firstly important to note that these are prototypes, so these are not by us considered as commercial versions. They are not typically considered as equipment that we can go and make a revenue on. They do represent a value, but it's not a maturity of equipment that would fit the under normal circumstances requirements in our revenue model. We are nonetheless very focused on this prototype equipment for testing and validation purposes. It is a significant de-risking when you switch to a marked serial production later on that you have made sure, which is also a learning we have from the A-Series, I must admit. We have made sure to conduct the appropriate testing to make sure that we understand the design, the functionality, et cetera, before we switch into serial production. Typically, if you can talk typically for a company like ours, where most things happen for the first time, but we consider it typically this test equipment with the prototypes, the win for the OEM, in this case us, will be that we can, ideally, we can get the electricity cost during the testing period sponsored by a partner, where that partner is allowed to take the hydrogen for the electricity cost. We can then take away the test results from these prototypes. That is also why we have not only chosen to manufacture one prototype, but in fact two. Prototype number 2, actually, that was the one we showed a quick picture of sitting in the assembly hall now in Kolding, Denmark. Prototype type 2 will be manufactured towards the next couple of quarters. We are still to find and conclude on the final home for that prototype. We have a couple of interested partners that are interested in having the prototype for further testing. We will of course announce that when we are ready to announce that. That altogether will allow us also from prototype 2 valuable testing data and information that will be factored into the further scaling of the market versions later on. Perfect. Thank you very much, Sebastian. Thank you, Casper. Operator, please. Our next question comes from Dan Togo from Carnegie Investment Bank. Dan, your line is now open. Please go ahead. Thank you. One question relating to your financing activities in the quarter, raising DKK 233 million. Can you share some color on the source of funds for this financing activity? Thanks. Yes. Thank you, Dan. First of all, we have finalized and thereby started to utilizing part of our new facilities in Kolding. We have been able to obtain a real estate loan for part of it. Secondly, as a part of our new orders, as well as some installments for the existing orders, we have received additional prepayments from customers. It's equal split between those two financing sources. Maybe if you can also share a bit on the backlog currently stands at 20 megawatt, as far as I can see. What about the value of the backlog? Just to get some sort of feel of ASP. I expect that you are seeing cost inflation as most OEMs are seeing at the moment. Can the prices that you approach clients with, can they compensate for this cost inflation you're seeing? Thank you, Dan. I will make the comment on that. Firstly, as we have covered also in previous calls, given the situation we've been through, we have suffered from penalty payments to customers and that altogether reducing the revenue value of the most delayed contracts. Some of these contracts are not yet revenue rec'd, and the revenue from these contracts, actually from the most impacted orders, that is a heavily reduced revenue value compared to the original contract value. In other words, we will not advise you to take the simple math by dividing revenue value in our order backlog to get an indicative ASP. Mm. On the other hand, we are not, we are not externally commenting on ASPs. However, were you are a customer in the company, you would, you would see that we have increased ASPs over the past months and quarters. We are now seeing ASPs per megawatt on the A-S eries nearing EUR 1.5 million per megawatt asset. That is not a firm number. It depends very much on the equipment that is in scope and out of scope. Obviously we are, as an OEM, always testing the higher price point in the interest of the company and our shareholders and investors. That is an ASP as we commented on that will come down over time, on the A-S eries, also quite significantly over the next couple of years. In terms of the contracts, we do have certain index regulations in the contracts where we have within reasonable degrees pass-through mechanisms in the contracts linked to index of raw materials. If we see after the signing date increases in raw material costs on certain raw materials, we can pass it through. Obviously, there are also other parts of the cost base, which is our risk, so to speak. We are working as actively as we can on protecting ourselves against these raw material fluctuations. Thanks a lot. Thank you, Dan. We currently have no further questions, I'd like to hand back over to Sebastian. Thank you very much, operator. That will be only from my part and on the behalf of the team saying Thank you very much for paying attention to this trading statement. We are very excited to continue working with the team at home. We see 2023 as a really exciting year. We have a lot of hard work in front of us, and also fulfilling the commitments we've done now on the revenue guidance range and reaching between DKK 120 million and DKK 160 million this year. Really exciting times, and we look forward to getting back to you with more news, if that happens before the next quarterly report, where we will report our second quarter, further on in August of this year. So far, and thank you very much for today's attention from all of you. Thank you. Ladies and gentlemen, this concludes today's call. You may now disconnect your lines. Thank you.