Hello, and welcome to the Green Hydrogen Systems 2023 annual report. My name is Elliot, and I'll be coordinating your call today. If you would like to register a question during today's event, please press star followed by one on your telephone keypad. I would now like to hand over to Peter Friis, CEO. The floor is yours. Please go ahead. Thank you, Elliot, and welcome to our webcast today, where we are presenting the annual report for 2023. The presenters today will be myself, Peter Friis, CEO, CFO Ole Vesterbæk, and CCO Søren Rydbirk. Now, I will go through the agenda for the webcast today. I will start with some opening remarks, and then I'll go through our business highlights together with Søren, and Ole will give us an update on the financial figures and the guidance for 2024, and I will be coming back with the closing remarks and Q&A. On the surface, 2023 was a year of technical challenges and supply chain challenges. We had delayed deliveries, and we were not meeting our targets. Looking beneath the surface, we also had a lot of positive development. We continued to improve our A-Series based on data from the installed fleet. We have also progressed the development of our X-Series, and we are now heading for commercial launch. We have ramped up and improved our industrial system for assembly and test of our electrolyzers. We have also secured an oversubscribed capital raise, and we have improved our commercial position with new orders. On the organizational side, we have strengthened our capabilities across the board, and from my personal angle, I was glad to take the position as CEO in October. Despite the headwinds that we have been facing in 2023, we have moved our company forward, and we are pretty sure that during 2024, we'll see positive development based on the improvements that we have seen in 2023. We have increased our installed base with additional customer deliveries, and we have a very good data-based fleet monitoring system. Based on these systems, we are collecting invaluable data about the A-Series performance, and this is leading to improvements that we are continuously developing and implementing for future customer deliveries. Also, based on all the improvements that we have done, we have developed a retrofit program for the installed fleet, which we are going to implement during 2024. Also, in 2023, we have delivered and installed the prototype of the X-Series in Skive, and just before Christmas, we produced the first hydrogen, which continued the testing in 2024. Recently, we have published that we have obtained a third-party report confirming our technical concept and the performance data of the X-Series. This is a very important milestone for the X-Series development, before we are launching commercially. More tests will be done to document reliability on the X-Series, and when we feel confident, we will be ready for taking the first orders. In 2023, we expanded our production facilities. We have improved our industrial system to both assembly and test electrolyzers. We have improved our supply chain quality management, and we have also engaged new suppliers for critical components, and we have thereby also been reducing our dependency on single supply for these very critical components. New series we have improved and developed also our production setup, preparing for producing X-Series. We will be starting producing the X-Series around summer 2024. To deliver the units we have planned for in 2024, we have a well-defined plan, and the plan is a good plan with an even split of deliveries. This is giving us a very good comfort in that we are going to deliver what we have, what we have expected. Now, I will hand over to Søren Rydbirk for a commercial update. Thank you, Peter. I will start elaborating on sales of the A-Series products, our current product in the market. Later, I will comment on the new X-Series product... In 2023, we built on our backlog with new sales of the A-Series products, including the largest order to date at that time of 7.2 megawatts. This order was surpassed early 2024, with a new order of 8.1 megawatts to an existing customer. Unfortunately, we also saw delivery delays due to sourcing issues and the ongoing technology improvements of our A-Series, which challenged sales for most of 2023. However, the flow of customer deliveries picked up during the last months of 2023. This momentum continued in the first months of 2024, and with an increasing install base of A-Series products, and thereby an increase in operating hours, we gained important operational learnings, which strengthened our commercial position. Now, let me move on to the X-Series products. We see strong customer interest in our new X-Series product, a 6 MW electrolyzer module for larger scale green hydrogen production of 10-100 MW. In February, we reached technical proof of concept for the X-Series, which is an essential step towards commercial launch and required to enter contract negotiations. This will lead to first sales of the X-Series product. From 2025 and onwards, we expect the X-Series to drive majority of our revenue growth. I will now hand over to CFO Ole Vesterbæk. Thank you, Søren. In the following, I'll walk you through the highlights of our annual report for 2023, as well as our guidance range for 2024. We have ended the year and realized all of our guidance metrics at in the same way as communicated the 23rd of January. I would like to reconfirm that our revenue from customer contracts ended at DKK 42 million, compared to the adjusted guidance range of DKK 30 million-DKK 45 million. Our EBITDA was realized at DKK -267 million, in relation to the adjusted guidance range at DKK -280 million-DKK -240 million DKK. Our CapEx investments in both production as well as our A-Series and X-Series improvements were realized at DKK 271 million, compared to the adjusted guidance at DKK 270-300 million. So there weren't any changes compared to what we have announced previously. If we are looking into our employee number of employees by year-end, we were 297 employees, compared to 276 employees. And we are, of course, very happy about the proceeds from our rights issue process in in June, which resulted in the fact that we have been able to continue our growth strategy. I won't go through the next slides, outlining the detailed annual report numbers. We've, of course, unveiled and announced all of the detailed numbers, as well as, our sustainability report as a part of our announcements. So, it's consisting of all of the various sections the annual report are expected to include. Then, I would like to go to our guidance for 2024, where we are, in fact, would like to reconfirm what we have communicated at the eighth of February, including the new and the biggest order to date for Green Hydrogen Systems, consisting of 9 electrolyzer units, which means that we have upped our guidance range of revenue to DKK 125 million-DKK 165 million. We have increased... No, we have kept our EBITDA and CapEx expectations from our announcements twenty-third of January, to -260 to -220 million, and our expectation is to execute investments in both production equipment, as well as continuation of improving the A, as well as finalizing the X-Series development for DKK 160 million-DKK 200 million. I would like now to hand over to Peter Friis for closing remarks and Q&As. Thank you very much, Ole. As we have said earlier, we have improved the A-Series based on data from the installed fleet during 2023. We have also progressed development of the X-Series, and now we are heading for first orders when we have finalized or come to the level of testing the reliability that we need. We have also ramped up and improved our industrial system for assembly and tests of our products. We have secured an oversubscribed capital raise to support our continued growth. And, last point, we have improved our commercial position. So now we are ready for Q&A. Thank you. If you would like to ask a question, please press star followed by one on your telephone keypad. If you would like to withdraw your question, please press star followed by two. When preparing to ask your question, please ensure your device is unmuted locally. I have a question from Casper Blom with Danske Bank. Your line is open. Please go ahead. Thank you very much. Maybe not surprising, I have a question regarding the X-Series. Could you elaborate a little bit more on what kind of testing that is still outstanding in terms of getting to that point where you start to feel comfortable about taking first orders? Thank you. Yes, thank you very much for your very relevant question. Now we have confirmed that when we are going out selling the X-Series, that we know we can live up to the commercial specifications that we have in our contract, like the number of kilograms hydrogen that we produce per kilowatt hour. But we also need to make sure that the product is running 24/7 day in and day out. And this is actually the next phase of our testing that is giving us the comfort that the product will run, and it will keep running. And when we feel comfortable to the required level about that, we will actually start taking the first orders. Okay. Have you... Can you, can you give us any indication to sort of expected timeline to us when you will feel comfortable about the 24/7 running? We will most likely come to that point during 2024, but we will, of course, come to that point before end of 2024, but I can't give you an exact date. It's depending on progress in our testing. But we hope that we will be ready soon. Okay, that's, that's great. Maybe, maybe I can, Then, yeah. Maybe I can provide an additional comment to that. While we are doing the reliability testing, we are also in deep conversations with multiple customers. And we actually also have several letters of intent on potential order intake for 2024 with some of those customers. It's clear that the technical proof of concept and the additional testing is required for, you can say, going into a final contract, but there is also a lot of work in terms of supporting customers, getting to full project maturity, and thereby them being able to go into a final investment decision. And that is the focus we also have, besides keep testing the equipment. Thank you, Søren. That, that's super relevant information. These letters of intent, I understand that there's probably a limit to how much details you can give about those, but are these sort of the projects that correspond to the, I think you said 10-100 MW projects that are relevant for the 6 MW module? Yes, I can. It's more to sort of understand if we should... If you, is there sort of a fair chance that we will actually see orders for the X-Series for, you know, up to 1 MW projects already, sort of relatively soon, or should we more expect that you will sell, you know, a single module for the customers to feel comfortable? I will say it like this, that we are in dialogues on both. You can say smaller orders of 1 to a few modules, but we also have bigger projects of, e.g., 100 MW. We are working with both in parallel. What we expect is that the smaller orders will be faster to final investment decisions, whereas the bigger tickets will take us slightly more time. That makes a lot of sense. Then just my final question, and it's more about testing. I apologize for that, but you recently issued the announcement of the X-Series having passed this test that was done by an external party. And I just want to understand, was the same external testing done on the A-Series, or is this sort of a new approach to testing the module in order to feel even more certain that things work before you sort of press the commercial button? Thank you very much. This is also a very relevant question. This is new for us to do like this, and we have decided for making a lot more testing and more structured, detailed testing to secure the quality of our X-Series before we are launching projects with customers. Excellent. Thanks a lot. As another reminder, if you'd like to ask a question, please press star one on your telephone keypad now. Ladies and gentlemen, this concludes our Q&A and today's conference call. We'd like to thank you for your participation. You may now disconnect your lines.