This is gonna be interesting because we have six people in five chairs. We'll attempt to do this well without getting in each other's way. Thank you so much for coming today. We're really excited to have our Investor Day 2022 in person live, and it's our first one since November of 2019, where some of you heartily trekked to La Crosse, Wisconsin, in the winter. You did. I know that. Hopefully this will be exciting and fun. That's one of the things that we're gonna do today. We're gonna try to make this interactive, try to make it fun, tell you a little bit about the many, many great things that are happening at our company. I'm gonna start with a story, an anecdote. You're gonna hear stories throughout our sections today because that's one of the things that we really like to do at Chart, which is celebrate the great things happening in our business. Every day for the last two years, and actually the last two years exactly today, simply by coincidence, not by design, we do what we call Chart people doing Chart things. These are nominations from our 4,846 team members telling something great that has happened in the business. I send it out every morning, and I talk about somebody that we're spotlighting for one of the wonderful activities that they've accomplished. If you can believe it, every day, seven days a week, I have never run out of nominations. You can get a sense of the culture that we have, and we're gonna talk through this One Chart concept that we've put in place over the past few years. My story to start today is actually about the guy that's up on the screen here. He's our cover model for our third annual sustainability report, which we issued a few weeks ago. He is one of our team members at Theodore, Alabama, or as we call it, Teddy Trailer & Tank facility. Some of you may recall that back in October of 2020, we purchased Teddy. We purchased that business for $10 million purchase price. This picture here, and those of you on the phone, sorry, but it's these guys the first day we bought them, and they were so happy because they were coming to home that was gonna invest in profitable growth. That's the story I want to share with you because one of the things you'll hear is the way that our organic and our inorganic investments are working together in a lot of the synergies that have come from this. Eric Dorsch, who's our cover guy here, he's still with us. He's been instrumental in making a lot of the changes that have happened in that Teddy facility. Before we bought that business, the most trailers that were shipped out of that facility in any given year were nine. Last year, we did 29, and we booked 54 trailers through that shop. What's really unique about this is obviously they're very profitable 'cause they're hydrogen trailers, but on top of that what we're seeing is the way that the core one Chart business is working together. Instead of just doing every piece and part of the hydrogen trailer at Theodore, what we've done is we've taken advantage of our flexible manufacturing footprint, and we do certain components of that in the most efficient places that we can do that in the United States. We build a piece of that in Canton, we build a piece of that in New Prague, Minnesota, and we do the core of the trailer in Theodore, Alabama. That's allowed us to go from literally nine a year to one a week, and we're gonna talk through some of that. Some of the other synergies in this example include the fact that of those 50-some trailers that we booked last year, about 60% of those came through long-term agreements that we've established over the last few years, which is one of the key changes in the business that we've gone from a handful of those LTAs to dozens and dozens of those. We'll talk through kind of why that commercially is really important. In summary, what I would say using this example to kind of kick us off is the Theodore, Alabama facility and team is a really great example of the themes that you're gonna hear me talk about. Innovation. They did the first tandem liquid hydrogen trailer new design, and they built it within six months of getting that design from one of our customers. Agility. You've heard that already in our example. Flexibility, synergies, interlinkages to the Nexus of Clean, which is one of the exciting parts of our growth story. Then loving being part of Chart. I mean, he was so proud of what he did, and we're so proud of what they've done as a team, and this is just the first of many stories I'm gonna share today. The last thing I would comment on is just this week, we were recommended at the Theodore, Alabama facility for ASME certification, which is the T stamp, and this is a very special certification which essentially gives us the ability to manufacture liquid hydrogen trailers and send them to any region in the world through this certification process. There's only 33 facilities around the world that have this U stamp, 29 companies around the world. In the United States, there's only 10 facilities, seven companies that have this. This is a really big accomplishment and another differentiator for us in the hydrogen market globally, where innovation is key, but so are certifications. Another way that we're gonna describe to you today some of the reasons that we have a competitive moat from other entrants into the spaces that we play in. With that, let's move on here. We've got our handy dandy slide here with, which is my quote that I always say, but for those of you who are a little bit newer to the story, you know, if you fundamentally said how do you describe Chart? What's your elevator speech? The elevator speech is our core competency where we're experts is cryogenics. We design, we engineer, we manufacture cryogenic process technologies and equipment, and that happens to hit basically all the molecules you could name. We're molecule-agnostic, we're technology-agnostic. We play in a variety of ways in these spaces, and that's one of the wonderful things about our business and one of the key reasons why we can hit so many different high growth markets with that same core competency and not having to get very distracted outside of that competency. Looking forward to getting rolling here today, and we're gonna do some introductions, but first, I think Wade has to give you the speech. Good morning, everyone. It's great to be here with you all finally, in person. See a lot of familiar faces in the crowd, but some new ones as well. So for those of you who don't know me, my name is Wade Suki. I'm Chart's Director of Investor Relations. On behalf of myself and the management team, we wanna thank you all for taking the time to hear the Chart story this morning. Of course, just one quick housekeeping item. You all are very familiar with these disclosures, so I won't bore you by reading them verbatim. But needless to say, our attorneys send their regards. Just, tradition at Chart is we start the days off typically with what we call a safety moment. You know, whether you're beginning a shift on the shop floor, attending a town hall meeting, executive staff meeting, even a meeting with a board of directors, they always start out with a safety moment. That's where we talk about maybe a recent incident, a near miss. Hopefully, we don't have either of those two things to discuss, and we're really talking more about some preventive measures that we're taking to avoid those kinds of incidents. This is an actual example from one of our recent CEO calls, and it's about forklift safety, which clearly may be not so relevant or applicable to us here at the New York Stock Exchange, but maybe more so if you come visit us at one of our facilities. What I think it really illustrates, I won't go through the slide with you in detail, but what it does illustrate is Chart's core safety culture and our belief that most incidents and accidents are indeed avoidable, and that a job is well done only if it's done safely. Just moving along, we have a lot of material to cover today, so I'd respectfully ask that you please hold all your questions till the end. We're gonna have a full Q&A session at the tail end of the presentation. I promise you'll have the opportunity to ask your questions at that point. For those of you on the webcast, if you wanna ask a question, just email me at wade.suki@chartindustries.com, and we'll try to get your questions in at the Q&A session. With that, I'm gonna turn it back over to Jill to kick things off and introduce the rest of the management team. All right. Thank you, Wade. We're gonna get started with introductions. Before I get started on that. Let's see. There we go. Any of you been here? You guys recognize this? All right. So this is our New Prague, Minnesota, manufacturing facility. We picked this picture because at this facility we actually manufacture equipment that goes into all four of our segments. I'm gonna talk a little bit about how that works in the hierarchy of the flexible manufacturing capability that we have in place. First, let's get started on my team. The top row here is my functional team that reports into me. The reason that we have what is a hybrid executive staff approach is because what we found is that we sell more by having our global commercial teams, regardless of where they're located, report up together through Joe Belling, our Chief Commercial Officer, and same with our engineering. Our global commercial teams report functionally to the CCO, and our global engineering reports up through Brian and Doug to Doug, who's our Chief Technology Officer. The second row are our operational folks. Historically at Chart, what you would see is operational folks that had a facility with a or a series of products that would go into one segment. When we talk about One Chart flexible manufacturing, what we're talking about is the optimization of this wonderful footprint that we have acquired and/or developed organically over the course of the last four years. These people on the bottom here, they oversee operations by geography. They may have a heat exchanger facility in their purview. They may have a tank facility in their purview. They may have a shop that does a bunch of different components. You can see that we have Miroslav, who runs our EMEA and India regions for operations. Sherry runs our Chart China operation. Brad is in North America. We focused him onto brazed aluminum heat exchangers and cold boxes. He is, by history, he comes out of our cold box facility. For once, we timed something kinda sorta close, where we added Harry, who's next to Brad, to oversee the rest of the HTS North American shops so that Brad could focus on delivering for our big LNG, our small scale LNG that is currently here and now, but much more opportunity on the horizon. Shane oversees our North American, what we would call more cryo tank solutions businesses and the tanks and the trailers. I'm gonna ask you guys, as Wade said, hold the questions till the end. We're giving you access today to these folks on my team. If you do have follow-ups after today, please send them to Wade, and he'll appropriately get you the right responses. The reason that we typically don't have a lot of my team out on the road and having investor discussions is because they need to execute, and we want to keep their focus and attention there. With that, I have another individual with us today, Amy George, who is the founder and CEO of Earthly Labs, which we acquired in December of last year. You're gonna get a special treat to hear a lot about what's happening in the Earthly business. What I can tell you is, I am amazed in our first four months of ownership, we can't keep up with the demand for this product category. Amy's gonna share the reasons why behind that today. She not only continues to run that business within our portfolio but participates in what we call internally Oceans Eleven, but we can't say that, so we call it externally the Founder's Innovation Team. One of the things that's really neat about the inorganic side of our business over the last 18 months was we saw a window of opportunity where we could take our disciplined investment approach and get deals into the business at what we consider to be disciplined valuations, doing so without bankers. These were relationship-based deals. No offense to the bankers in the room. Then also keep the founders and the management teams with Chart. What that's allowed us to do is exploit this Nexus of Clean that we refer to. Clean power, clean water, clean food, and clean industrials. One of the ways that we exploit those interlinkages is through Oceans Eleven or the Founder's Innovation Team, where we take the founders of these businesses and we put them together, and we give them the space to come up with creative ways to come up with commercial synergies, back office synergies, manufacturing synergies. Amy's gonna share a couple examples of what this group has come up with just in their short period of time of being together over the last eight or nine months. It's just the tip of the types of innovation that this team has in the pipeline, and we'll share some good examples of that today. With that, you guys, I think, know me. I've been with the Chart business over five years now, as CEO for the last four years. I'd like to introduce Joe Brinkman or have you introduce yourself. It automatically turns on, they said. Yeah, I'm Joe Brinkman. I'm the Chief Financial Officer here at Chart. My career started at Chart back in 1993, so I'm a bit of a cryogenics industrial gas lifer. Started as an engineer, worked through some operations roles, managed global sourcing for Chart, and then most recently I was running the distribution and storage business in the Western Hemisphere before assuming this role last year. Welcome, everybody, and thanks for coming. Good morning, everyone. I'm Douglas Ducote. I'm the Chief Technology Officer for Chart Industries, and Chart's Global Engineering also reports up to me. I began my career with one of Chart's predecessor companies in 1978. That was the year I was born. I was only ten, by the way. Just kidding. Yeah. Yeah. I've held many positions within Chart, in project management, engineering management, of course, R&D development work. I'm one of the principal inventors of Chart's IPSMR process. As Chief Technology Officer, I really enjoy heading up all the R&D efforts and all the technology development stuff that we'll talk about today. Thank you. Hello, everyone. I'm Brian Bostrom. I'm Chart's President of Global Engineering. I've been with the company since 1994 and have held various engineering and engineering management roles. Got a lot of experience with LNG fueling station and other small-scale LNG facilities. Today, I'm leading Chart's engineering teams on behalf of Doug. Good morning, everybody. I'm Joe Belling. I am the Chief Commercial Officer for Chart. I've been with Chart since 1993. Been in this role for a couple of years now, but I do have an engineering background, so I'm not just the sales guy. Happy to be here and look forward to talking to everybody today. Hi, I'm Amy George. As Jill mentioned, I'm the president of Earthly Labs, a division of Chart Industries. We merged in December of last year, and we're thrilled to be part of this amazing team focused on small-scale carbon capture. Okay. Some of you who were at the November 2019 Investor Day are going to recognize this slide. This slide is unchanged. This is our overarching strategy, and one of the things that I love about where we sit today is our strategy is iterative but also revolutionary. It all comes back to these key points that are on this slide. The themes remain focused. Where we are in the journey of this strategy is far different than where we were three years ago. A little bit of background on our company. Our footprint has strategically grown via both organic greenfield expansions as well as through the acquisitions that we've done. This footprint that you see up on the screen, it goes to how we serve our customers. Now the fact that we have manufacturing in all of the key regions of the world has given us access to the 402 new customers that we booked orders with last year. It's given us the ability to be good at flexible manufacturing. That also gives us the ability to manage cost and price appropriately. If you look at this map here, since mid-2018, the last four years, there's 35 locations up on the screen here, 26 of them are manufacturing locations. Okay. Of those 35, we added 16 since mid-2018. Both organically and inorganically, including manufacturing in Sri City, India, including expansions of numerous different locations in the EU, in particular through the VRV acquisition, as well as locations like Theodore, Alabama and Valencia, California through L.A. Turbine and the Teddy trailer acquisition. Lots of opportunity for us to continue down this flexible manufacturing strategy, and we're certainly not in inning nine in this mix. I'd also point out, I commented at the outset, we have 4,846 team members around the globe, half of which are outside of North America and half obviously in the States. When we talk about the challenges that are out there today in our world, I've commented that labor is not one of my top-tier challenges in the business. A portion of that is the result of where we manufacture, what we manufacture, as well as the innovation that you're gonna hear from Doug and Brian, because it's a really attractive space for engineers to come in, because we hit so many fun, different end markets. If you look at general turnover, last year, 2021, our voluntary turnover was 9.5%. If you went out into the market, that number is running for most manufacturing companies over 20%, in some cases over 30%. We've done a good job of setting the right programs in place for talent, but also the Cooler by Design really does help us maintain those folks and get them into the right positions. Later on today, I'm gonna talk about some of the talent programs that we've implemented over the last four years. One of the things that has grown, four years ago, we had zero repair and service in leasing. The RSL segment not only didn't exist as a segment, the footprint itself did not exist at that point in time. What you can see here is our United States footprint, and we've built that out primarily in the last year through our expansion in Richburg, South Carolina. That was a greenfield investment of about $7.5 million. Then we purchased the Skaff business back in 2018, which is your New Hampshire location. One of the things that we see an opportunity, and you're gonna hear about one of our next capital projects is Mid-Atlantic United States region. That's kind of what I would consider Connecticut down to the Virginias. South Carolina kind of hits your southeast in terms of how our customers installed bases and their behavior. The Mid-Atlantic East Coast region for repair and service, but also for cryogenics, is a very attractive geography, and we're gonna get into that in a few minutes. The EU footprint from a repair and service perspective is even newer to us than the United States, and we've started to build that out. We did that through the VCT Vogel acquisition a few years back, as well as some of our core capabilities that came through the VRV acquisition. We will look to add to this EU footprint for service and repair, both organically and inorganically. What I would just leave you with in terms of the footprint for RSL is you won't see us do RSL locations in Asia-Pacific. It's a different model in that region. The customer's behavior is different, and we're focusing in on where customers installed bases and where their behavior is to do refurbishment and repair versus just to buy new at a lower price. One of the slides, you've seen a version of this previously, which is our transformation since 2018. It's been in conjunction with the strategy wheel that I showed a few slides back. I'd really say we've been focused on getting rid of the piec es that didn't make sense to have, adding the pieces and parts that make a lot of sense into the portfolio or this Nexus of Clean solutions, and then getting broader. The footprint helped us a lot. The fact that we have numerous customers now on long-term agreements, whereas we used to have five. That gives us the ability to do things like the pricing that we've put in place over the last nine months without this heavy reliance on a set of customers or waiting for a big project to come. Now, don't get me wrong, right? We worked for three plus years to get everybody to not put a model together with big LNG, and now we're gonna tell you to put your model together with big LNG. But with that said, we sit in a really great place where we consider growth through a cycle, and we've gotten away from these extreme peaks and troughs on these bigger LNG projects. Now we're at a point where all of these pieces are starting to work together, both from the market tailwinds as well as from the pieces that we have to offer into those, that variety of markets. Then One Chart approach is really key, right? I mean, we could call it whatever we want. We call it One Chart inside. It's not just the cohesiveness of how we sell. You used to have a sales guy that sold a heat exchanger, and you used to have a sales guy that sold a tank. In a lot of cases, those two people were selling to the same customer. Now what we see is the people that we have in our sales team globally are able to sell the full solution, and we're getting much more content as the result of that. If you ask me, you know, what would you rank your top few changes that have happened in the business over the last few years? You said, Jill, personally rank it. I would put that global commercial team as one of those top ranks because that has given us so much more ability to have a full solution and in turn, by offering that full solution, more margin. The other thing I would say is that we definitely have taken advantage of this One Chart concept around what we call Chart Business Services, so the back office. Joe BR, Brinkman. We have Joe B and Joe BE. Inside Chart, we call him Joe BR and Joe BE. Joe BR is gonna talk a little bit about some of the back-office activities, but that also has helped us dramatically on achieving synergies. Take, for example, nearly all of our acquisitions that we bring in-house are on our global computer system, which is J.D. Edwards, within six to nine months of the acquisition date. You can imagine how that allows us to streamline and get back-office synergies. There's numerous examples that we'll talk through today. Not new, but one of my favorite one-pagers to describe the Chart business is really this concept of the full menu. That full menu has process technologies in the middle of the page and Chart equipment on the far right. We are molecule and technology agnostic, so our customers, they can come, and they can take the full breadth of the solution from process to equipment, or they can pick and choose. That's one of the beauties of this menu. Operationally and optionality is a key thing that comes from this menu of clean. This is also a lot of people ask us: Who competes with Chart? Who's your competitor at the Chart level? The answer is no one. This page is a key reason why there is no one that competes with us at the Chart level because there's no one that has those process technology capabilities and that cryogenic list of equipment out there. Yes, you can come in, you can compete with us at a component level, but to do this is really difficult and would be virtually impossible to replicate what you see up on this screen. Okay, I'm not gonna drag you through this. Personally, I like this illustration because it visually shows you the interlinkages and the connection points of this cryogenic offering that we have. When you think about cryogenics, the handling of molecules is at the heart of everything up on this page, and that's how we're able to play in these markets. When we talk about our segments, you know, our segments, I think every analyst in this room groaned every time we changed segments. In fairness, it did take us a couple iterations to get to where we're happy with the segments, but we do like the way that the reporting is currently. A portion of that I think is easier to understand the business. You can see Heat Transfer, our most cyclical segment on the left side. Cryo Tank Solutions, growth steady through the cycle, very consistent. Then the higher growth businesses, Repair, Service and Leasing and Specialty. In that, what you have to understand is a lot of the equipment that we showed on that far right is actually used in all of these segments. The question I get frequently is, "How do you manage all these end markets? How do you supply into all these end markets without having massive distraction?" Well, it's pretty easy. Take a brazed aluminum heat exchanger as an example. It's used in LNG liquefaction. It's used in petchem applications, nat gas processing applications, hydrogen liquefaction, helium liquefaction. That concept of this piece of equipment, this cryogenic expertise, hits these end markets without a huge amount of variation from what we're good at, from our heart and soul, is how we hit these markets. Take a brazed aluminum heat exchanger. That could show up in specialty. If we're doing hydrogen liquefaction, it's gonna be in specialty. If we're doing a quick ship, a repair, a weld in the field, it's gonna show up in RSL. If we're doing a traditional brazed aluminum heat exchanger for a petchem application, it's gonna show up in HTS. That's how you have to think about how we stay true to that core capability that we have. These are some pictures. A picture is always worth a thousand words. Is that the right expression? Okay, I got one right, finally. I won't drag you through all these equipment photos, but we also got a kick out of our LNG vehicle tanks that are on the bottom of the screen and one of the only pieces of the business that year-over-year will sequentially be down in part because we had a record year last year and in part because of the semiconductor challenges in the heavy-duty truck industry. That HLNG vehicle tank we just got notified that it was chosen. The patent for that was chosen as by some firm which we don't know who it is, Georgia Patent of the Month last month. The ability to do this, again, the patents, the IP, we have IP on 87% of our products in our portfolio, is truly another differentiator in this world. These markets, we're gonna get into details on them. I'm not gonna walk through those right here. One of the things we do, I'm gonna take a moment and explain is how we think about the value chain of any molecule, and it's really in three parts, the production of the molecule, the storage and transport of the molecule, and then the end use of the molecule. That's very important 'cause we're gonna come back around to those three buckets and where we see the growth ahead of us by molecule type. We sit right in the middle, so we provide equipment and process to bucket one, the production of the molecule. We don't own the molecule. That's very, very important. We will never own the molecule itself, but we will provide processing equipment to those who do. The storage and transport, very obvious with the equipment that we have, ranging from the trailers we talked about to ISO containers, that these guys are gonna share a little bit more detail of what's on the horizon, all the way through to tanks for space exploration and launch. The end use, we provide equipment to, for example, fueling stations. You're gonna hear an update today on some of the fueling station activity, in particular our liquid hydrogen pump. I commented that there are no competitors at the Chart level. If you go down into the business, you have to either approach the competitor discussion by product category or by region. I'm gonna start in the upper left, CryoTank Solutions, and go clockwise around the square here. In CryoTank Solutions, a lot of our competition is regional. For example, Taylor-Wharton would be an example of CTS in North America. INOX typically we will see in India, CIMC wholly in China and Asia-Pacific. You go to heat transfer, and you split it to products. Brazed aluminum heat exchangers, there's four competitors to us globally. There are no other competitors that manufacture brazed in North America. Look at air-cooled heat exchangers with competition like Kelvion and AXH. There's a great example of CTS competition is regional, HTS competition is product category. Bottom right, repair and service. These are really the two guys we see in particular in North America, Eleet and Ratermann. Part of our strategy of getting a location in the Mid-Atlantic United States is to compete on the repair footprint, where our customers are saying, "Hey, we want you to have a Mid-Atlantic location." That's really gonna be competing with Eleet. Lastly, on specialty, the list would go on because they would be very end market specific versus product category specific. You can see water Evoqua, we run into them periodically. What I would comment on in specialty is no one has the breadth of the types of products and full solutions that hit across these variety of end markets, so back to that cryogenic capability. In specialty, liquefaction technology is one of our key differentiators. I mean, you name the liquefaction process for whatever molecule you want, LNG or hydrogen. There's two or three potential competitors out there. Generally what we hear about those competitors is the people buying the liquefaction technology actually are competitors to our liquefier competitors. They don't like. For example, if I'm an industrial gas customer, I don't necessarily wanna buy my process from an industrial gas major because then I'm basically buying from my competition. That holds true whether we're talking about hydrogen or helium or LNG or any of the liquefaction capabilities that Chart has. Now let's turn our attention, and we're gonna get some of these other guys up here to talk a little bit. Before that, I'm gonna talk a little bit more. Market trends. This slide is the same slide I used last Friday on the earnings call to talk about what is certainly on the top of everyone's news feed, energy security, resiliency, access, independence. That is definitely a market tailwind and a growth driver for us, which I would. I said this last week, but I'm gonna repeat it because it's very important. Regardless of the outcome of the current state of the current situation, what we have heard from numerous governments and private sector is this was an awakening for us. We have to do something now. We can't wait until the next go-around of a problem happens. Yeah, I think there was a little bit of lack of understanding that you can't build a regas terminal in a week, right? You can't build a liquefaction facility if you don't have access to gas. There's a construction period that these countries that are looking for independence are now realizing, "I've got to get moving in order to achieve what I'm looking for our people." In the past week, I was asked to serve as a member of the Department of Energy's National Petroleum Council that for 2022, 2023. The focus of that council is around energy independence, energy security with an underpinning of sustainability. Hydrogen will be in that discussion. But I think what we've learned over the last seven weeks is the public sector is now going from talking about it to action, and the private sector is doing the exact same thing, in order to try to help this scheme. The end markets and drivers across specialty. I'm gonna focus a little bit on specialty in these. There are some specific tailwinds in each of the specialty markets themselves, but there's some overarching ones. Stimulus funds, taxes, credit programs, government involvement in the sustainability venture is not going away. In particular, I would say outside of the United States, we're seeing more and more of that with national hydrogen strategies as an example. Public-private sector, corporate sustainability, right? That it's here to stay, and now it's here to stay with required action associated with that. We have a section toward the end of the deck on what we're doing about ESG and sustainability for ourselves, but also for our customers. Input and supply shortages. That's obvious for all of the themes on the supply chain side of that, but also input and supply shortages in turn create thought processes of what else can I do? How can I substitute? We have lots of discussions around, okay, you can do this, but it's gonna take 18 months to accomplish. We can actually do something that solves your same problem in 12 months. That's gotten us, I would say a lot of demand and a lot of activity over the last three months of being able to provide alternatives to the traditional answers. Joe Belling's gonna talk a little bit about some of those examples. Then security emergency planning. We talked about energy, right? The same hits for water and for food. There's more and more discussion around water and power as themes, but also back to this input and the supply shortages. You need water in order to cultivate crops, as an example. We have an order in our backlog that is for what is deemed to be the world's largest water facility in north Egypt, and that's specifically for agriculture applications. Interesting to see the broad themes hit all of the specialty markets. There's a couple of fun ones in here like food and beverage. I love the food and beverage end markets. We don't talk a ton about it because it's just a smaller piece of the puzzle, but this is a great peer pressure market. You got to love when you've got like a hard seltzer company. The next company is gonna do the exact same thing. They tend to be global in nature. They tend to be repeats. When you're talking about store rollouts, Chick-fil-A is a great example of a national account that we have. They'll typically do 100 at a time, franchises, and that's just a couple examples. Also in terms of end market drivers, molecules by rail. I was saying to a couple of the guys earlier, I'm floored by how much sudden interest there is in our gas by rail offering. I commented that, you know, we timed something sort of right finally. We've been at gas by rail since 2014. That one we didn't quite time exactly right, but it's paying off now because we are one of the only companies, and certainly in some molecules, the only company that can do gas by rail applications. This is for LNG outside of the United States, so Mexico is a great region for LNG railcars. The EU, we dipped our toe in the water on railcars in the EU, and it's starting to gain more and more traction commercially there. Argon and other types of molecules by rail are becoming more and more important. We'll talk a little bit about how that plays with the hydrogen side of things, where we're really uniquely positioned with the combination of gas by rail and our hydrogen expertise. Space exploration, we announced an order this morning and just this week on the space exploration side, more and more public and private sector money in space. All the names that you would imagine are customers of ours. What I really like about space is that you think space, we have a picture coming up here. You think tanks. Think storing of the molecules. The next thing in space is doing your own LNG liquefaction. In some cases, that's gonna be floating. You get space customers that are buying tanks from us for their launch pads, and now they're saying, "Well, I want the gas or the liquid to be by my launch pad. Can you guys help me solve for that?" Space is actually converging upon itself to take advantage of this full solution, ironically of floating LNG as well as storage tanks. Hydrogen's a hot topic. I'm not gonna spend a ton of time on the market side. We'll give you some examples of hydrogen commercially. Canada, United States, EMEA, the first three, this is where over the last two years we saw the brunt of the order activity, and that's for all the reasons that we've talked about already. Next up being in the immediate term, China, South Korea, Australia. Canada, US and EMEA continues to tick along. Now we've got a subset of regions that were a little bit further behind and now are becoming quite active. After that, we think kind of medium term, so 2025 and beyond, is where you're gonna start seeing investment from places like India, South and Central America. I'll return to my comment that I said about the ASME, the U stamp certification, but this really applies to many of our facilities that manufacture hydrogen equipment, including India, including China and some locations in the EU. Regional certifications are key. There are no global hydrogen certifications for equipment out there, everyone is very conscious of safety being extremely important. We are differentiated by having GB code as an example in China for a liquid hydrogen storage tank. Two plus years to get that. Imagine if you're the next guy and you say, "Oh, I can do that tank." Well, you have to get it certified. The governing body has to say, "Yes, you can manufacture it, and it can go into use in my country." Same in South Korea. That's a great example there. So differentiators include these certifications. What you see up on the screen is a series of hydrogen orders that we've had over the past couple of years. You know, I would characterize it as half and half equipment and liquefaction. I do expect that trend to continue. $30 million in the Q1 was wholly equipment, no liquefier in there. I will be extraordinarily disappointed, Joby, if we don't book a hydrogen liquefier order in the Q2 of this year. Okay, he says, "Yes." You guys all heard it today. The point being, we're seeing more of them. We're seeing more frequency to them. That's something that I was cautious about, tentative about when we started seeing hydrogen get more active in late 2020 and certainly last year. I was surprised by the amount of hydrogen activity in the order book. Now we're seeing this as it's here to stay. It's gonna continue to grow, and there's a movement from gaseous to liquid and a combination thereof. Keep that in your head, gas-liquid combination, because I'm gonna come back to that later in this deck. It's important. A year ago, the folks that were doing gaseous hydrogen, they thought liquid was the devil. I'm exaggerating there, but in for all intents and purposes, it was gonna be a gaseous solution. Those same folks in many, many of the cases are coming to us now and saying, "There's no way I can accomplish what I need to accomplish using hydrogen gasously only." Looking at a combination of gaseous and liquid, which is great for us. I mean, again, we're agnostic to the gas or liquid. We can handle both. But there's definitely larger content as we start to see the combination there of gas and liquid. Harking back to my three buckets of the value chain of a molecule, so production, storage, and transport and end use. The majority of the $280 million of orders last year in hydrogen were in buckets one and two. Very little in bucket three. Now we're starting to see many more commercial conversations in the end use category. Whether that's fueling stations as an example, whether that's heavy-duty class A commercial trucks. You had to get availability of the molecule solved for first, and it's not complete yet. There's still much more innovation on the technology side that has to happen. Doug and Brian are gonna talk a little bit about how we're addressing that and helping the industry get there. Now there's more molecules available. They can get moved around, storage and transport. Now people have to start using them in this end-use application. We view a key part of the growth in the next three, five, seven, 10 years within our business is the conglomeration of more liquid in the mix from a production standpoint, continued standard equipment on the hydrogen side, more geographic regions playing and using this equipment, and a ramp in the end-use category. I think I covered everything I wanted to on this page, but we'll we might come back around. I might remember something. Okay, every time we try to get something fun in, a pun in, a pun intended in here, does anybody see what it is on this page? There you go. Thank you. The title, this is the cannabis market, has high growth potential. High growth potential. Okay, I think this is my last slide, so I'll hand it off soon. Listen, we have a really small amount in our addressable market for cannabis applications. Look at this. This is market data here. They're talking about $36 billion-$40-some billion of addressable cannabis market. Obviously we've built ours bottom up of what we're seeing today. I do believe that as you get more and more regulatory support behind the cannabis market, that this could be another area of growth for us that's higher than what we've built into our thinking. We are literally one of the only companies, and in some particular tanks that we have, the only company that can do supercritical psi handling, and that's around extraction. The grow houses, the extraction market, we have a very unique offering and extraordinarily well-positioned in the cannabis market. Amy is gonna actually talk a little bit about how the Earthly Labs offering links up with our food and beverage customers as well as our cannabis customers. This concept of synergies and the interlinkages fall into place also for this cannabis market. Now you've got a sense, right? There's so much opportunity for what we have already in our portfolio, let alone some of the other things that are on the horizon that we're gonna do organically and inorganically. Our capital allocation priority remains focusing on profitable growth through organic and opportunistic inorganic means. I'm gonna come back around on the inorganic side and give you guys more specifics later in the deck. Additionally, on top of that, we have the nice inflow of cash related to the bigger LNG projects. Those projects, the cash flow profile, we are never upside down on working capital on those projects, and the cash flow profile of those is earlier in terms of if you're comparing it to the revenue recognition profile and the delivery schedules. We'll have a nice influx of big LNG as well as, you know, driving down the inventory once we're comfortable that the supply chain is at least not completely mad. With that combination, we expect to drive our debt down as well, and that should be sub 1x net leverage ratio. At some point here in the coming few years, we'd expect actually to be cash positive with no debt. Okay, that's enough for me. Joe BE, you're up. Thanks, Jill. The green button? Green button. You guys, when you join the quarterly calls, you hear Jill talk a lot about first of a kinds. First of a kinds are very important for our business. They're about where we can take existing applications or existing pieces of equipment that we have and stretch them into adjacent markets. It's where we work with both new and existing customers to find ways to implement Chart's technology or Chart's equipment into some of their new applications. We work with them hand in hand to do that. When we do that, it gets us very, we use the term sticky with the customers. Stickiness is important because that is how we establish a long-term relationship with our customers. As we move into these first of a kind type offerings, it's one of the ways that we can develop that long-term relationship and extend that offering into other areas that Chart works in. You got a few examples here that you can see. There are a couple of favorites that I have that we've done recently. The first one is around a new offering that we have with our vaporizer product. Vaporizers are typically used for vaporizing nitrogen or oxygen or CO₂ as it's used in, you know, beverage instances or applications like that. We now have one that we just sold that's actually gonna be used to vaporize fuel that's used in rocket engine testing. That one to me is a really cool application. Another one that I really like is one we just sold up into New England, and it's around the PFAS issue with water treatment. PFAS is a forever chemical or a forever metal, isn't it? Yeah. That is present in water supplies. It's in the groundwater, and it's very difficult to remove. Obviously, it's not safe for drinking. Through our AdEdge business, we actually have a technology that can remove that with a FluoroSorb, is the trade name that we use. That's being applied for the first time in the United States in the Northeast for actual drinking water treatment. Very cool applications. They were supposed to handle the microphone. There we go. Dosing, our dosing technology goes into a lot of different things, but recently we sold it for liquid eggs, so packaging and preserving liquid eggs that you can buy in a supermarket. Also for eyelash growth serum. A variety, again, that same doser goes into so many different applications that we're talking about. Also, a fun fact, Joe mentioned our water treatment technology. In the last week, we've sold over $3 million of that technology. Lots of traction gaining in the water market. We did actually get a new one today too, Jill. All right. Hit me with it. We have a product called the PermaMax. It's a storage container that can be used to distribute different types of molecules. In this instance, it's a CO₂ distribution, and it's actually being used for production of solar panels. Very different application. Normally, it would be used for beverages and things like that. Another first of a kind that's gonna continue to move us forward with those different customers. We're gonna talk about a number of different case studies here. One of the themes that you heard Jill talk about is interlinkage. That's interlinkage not only with our traditional products, but also as we move into some of the newer acquisitions that we've had and how those work together, not only in the traditional energy type and industrial gas type business, but also as we advance into the Nexus of Clean. The first one that I wanna talk about is really based on a lot of our traditional technology, but it's one that you're seeing a lot of today, and that is around an LNG liquefier, liquefied natural gas, that liquefies methane. This is a lot of our traditional technology, but you also see a number of different products that we have on there. You've got air coolers, you've got the cold box, which has a brazed aluminum heat exchanger in it. You also have storage for that liquid once it's generated, and then some vaporization that's used as part of the refrigeration process. I would also point out that, you know, this isn't specific to LNG. These same components are also used in our other liquefaction processes. You heard I was challenged today with selling a hydrogen liquefier. These are the same components that are used in those. The interlinkage is definitely there across our entire equipment spectrum. Where this comes into play, you know, with liquefiers, it's a great way for us to advance the Nexus of Clean. We talk a lot about clean technology or clean energy. Here in the U.S., it's about what's next with, you know, with hydrogen, with wind, with solar, carbon capture, those type of things. There are other regions in the world where the next step in the Nexus of Clean is just getting cleaner. Liquefied natural gas is considered a clean technology. When you're sitting in Cambodia or Vietnam and burning coal to heat your home or to cook your food, the next advancement for you is to move to a natural gas solution. We have these type of solutions available. The other one I would say, too, is these same principles can be applied to biogas or renewable natural gas. When we think about a project that we are executing right now that's going into Germany with our customer, it's using actual biogas that's being liquefied and turned into an energy solution. Another hot topic right now is on receiving terminals for natural gas. Once we make that liquid, how do we utilize it at its endpoint of destination? The typical application, specifically right now, we're thinking about Europe with the change in how they're going to be able to receive energy. When we talk about a receiving terminal, we have to be able to take that LNG, we have to be able to get it to its endpoint of destination. Chart has a great solution for the smaller scale. When you talk about a world-class sized, we're talking about custom-built tanks, but for most of the regions in Europe, they're going to need these smaller scale receiving terminals. You can see there's a significant amount of content on there for Chart again. You've got vaporizers, you've got the bunkering and storage, you've got load out bays, and it includes a lot of the offerings that we make all over the world. It could be a solution out of our Czech Republic facility, it could be in here in the U.S., could be India, could be China. Really this is how we get that LNG to where it's needed. You can either regas it right there and put it into a pipeline. You could put it into on-site bunkering to use for ship fuels. You could offload it into ISO containers that we make. You could offload it into LNG trailers or whatever you might need to do to get it to that endpoint of use. Again, it's an interlinkage when we look at from the time the molecule is generated to the point of its end use. One of the keys to this as well is speed to market, right? With this being such a hot topic in Europe right now. The typical turnaround for one of these type of plants is anywhere from 12-18 months, and they can have a value anywhere from $5 million-$30 million depending on the scope. Great opportunity for Chart here in the near term. Jill also talked a lot about the hydrogen molecule and the buildup of liquefaction that's going on across the globe. That's great opportunity for us, as I just mentioned, with the equipment to turn it into liquid. Once it's a liquid, it's gotta get to its endpoint of consumption again. How is that done? It can be done in a variety of ways, but the most common method is going to be to put it into a trailer and truck it to its endpoint of use. Jill mentioned that, after the acquisition that we had with Teddy Trailers, they were building nine trailers a year. That was the maximum that they were doing. We're currently at a rate of one per week, and the demand is significant. We're ramping up that capacity to be able to put out two per week. The other thing that she mentioned too is around the recommendation for ASME Section XII, the U stamp. That's a significant step for us because what that does is it sets us up to be able to supply these trailers into every global market that's out there. There are local regulations that we have to meet. For instance, in Korea, you have to have Korean certification in order to be able to put a trailer on the road in that country. Getting that U stamp is a significant step towards that, not only in Korea, but all over the world. Very important certification for us. The next example that we've got is a really great feel-good story. When we talk about some of the adjacencies with the acquisitions that we've made recently, this one is a significant one for us. In Brazil, this particular project is in Brazil, and they have a significant challenge with wastewater treatment. The infrastructure hasn't been built up for them to be able to treat all their water supplies, and they have a lot of rogue municipalities that simply dump their wastewater right into rivers and streams. As that comes downstream, clearly it becomes a pretty big issue for them. Brazil is actually moving forward with some major infrastructure investments for wastewater treatment plants. One thing that is unique about this particular opportunity is they've made the move to actually do the first time ever, an in situ water treatment in the actual river that the water is flowing down. Eventually, they will pull that water into the permanent treatment plant. In order to take some first steps, they've actually integrated this water treatment where they will inject oxygen and other molecules into the water stream in order to decontaminate it so that the people that are using it aren't impacted as much as they would be. This is an application that our BlueInGreen team has put together, and it utilizes both the BlueInGreen technology for the actual dispersion of the molecule, but it also uses our traditional cryotank solutions as part of it in order to receive and store that molecule. Pretty nice application for us. Jill also mentioned space and there are a number of applications for us here, not only in the traditional equipment offerings that we have, but also in line with a lot of the inorganic investments that we made. A lot of the applications we have are around fueling. I mentioned the first of a kind for rocket engine testing. That's just an extension of how we are looking at the space market. You can see a number of examples here on how we're playing in not only with the governmental space agencies, but also the private ones as well. Each of these launch sites has to be pretty diversified because different agencies use different type of fuels for powering their rockets. You have applications for LNG, you have applications for liquid oxygen, you have applications for liquid hydrogen, and then also getting that fuel into the rockets themselves. A number of ancillary type products like vacuum insulated pipe for the umbilicals. A number of great applications for Chart there. Carbon capture is another hot topic, and it's one that we love to talk about. You're gonna hear Amy talk in a bit about other or kinda smaller scale carbon capture opportunities that we have. This is really around industrial scale carbon capture. Basically anywhere that you have a smokestack where you're doing some sort of a combustion that emits CO₂ out that smokestack, we have an application with our Sustainable Energy Solutions or SES product line that can extract that CO₂ and can take it into some sort of a sequestration or storage or alternate use. This is a technology that we acquired with SES about a year and a half ago. You saw the founders on the founders' CEO slide. They're still with us and applying this throughout different industries. One of the examples that we like to highlight is around cement. When you make cement, there is a combustion process that emits a significant amount of CO₂. We can actually capture that as it comes out of the flue, and then we can store it. When that cement is deployed as concrete in its end use, whether it's in a road, whether it's in a foundation for building, whatever it might be, we can then take that same CO₂, and we can reinject it into the concrete. What happens is it's permanently encapsulated in that concrete. It will never emit up into the atmosphere. It stays right there. As an added benefit, it has about a 20% higher tensile strength. Really, nice application for carbon capture technology there. The other thing I would add too is that it's a cryogenic process or a very cold process, so it integrates very well with our IPSMR LNG technology. Linking flexibility and innovation to customer stickiness. You heard me use the term stickiness. Well, how are we doing that? There's a number of different ways, and this is really about bringing greater value to our customers. How do we bring that value to our customers, and how do we continue to work with those customers? You can see a number of examples. You know, I'll highlight a couple. The leasing fleet, for example. This is a way that we can offer our customers some flexibility on how they do business with us. Traditionally, we would be a buy. They would make a cash payment to us for the piece of equipment. We're giving our customers the option to actually work with us on a lease agreement. They pay us a monthly installment, they get their piece of equipment, and then that piece of equipment helps them to make money to go back and pay that back. Really a nice tool that we have in our toolbox, especially when it comes to new startup businesses, those type of first of a kind type customers where having that initial investment might be a bit of a challenge for them. The second one I would highlight is the on-site engineers. This is another way that we've become very sticky with our customers. Again, instead of having a relationship where they issue us a specification, we sell them a piece of equipment, they go on their happy way. Instead, we're working hand in hand, literally putting one of our engineers in their office to help them optimize their solution. After that solution has been implemented, that engineer can stay on-site and can help the operators with training and startup and understanding how that piece of equipment works. We get paid for it. In some cases, we actually have an engineer at a customer site, and they pay for that engineer in full, plus 100% markup on that engineer. This is a really nice subtext of our business in terms of, you know, we have these folks, and they're dedicated anyway to a customer account, and now we're making a nice profit off of them. We've seen more and more interest in this. When you see us announce what we call an engineering design study or engineering design work or pre-FEED or FEED, that's in many cases linked to what we're talking about here. Yeah. Thanks, Jill. These are all great concepts, but how are we taking this to the next step? You can see a couple of them that are highlighted. I'll talk about a few. One is we talk about the TaaS units. That's treatment as a service. Instead of selling a customer a piece of equipment, we provide that piece of equipment, and they pay us a monthly fee in order for that unit to operate. Then we manage it, we maintain it. We're extending that. We've done it some time around our water treatment opportunities. We're now extending that into our Earthly Labs units that Amy's gonna talk about in a little bit. You know, with on-site engineers, we're actually assigning engineers to some of the key accounts that we have and making them available to those key accounts to be deployed at their need. Again, like Jill said, this is a revenue stream. It brings a lot of value to our customers, but it also generates a lot of revenue for us, and it keeps us very close to that customer for a long term. She mentioned earlier on about the GB code that we have in China. LH2. LH2 tanks. Next step for us, getting in on the group code for liquid hydrogen trailers. Again, it's a couple of year process, but we've been invited to be a part of this next group code, so that is going to get us very sticky in that market very early on, whereas our competition is going to have to fight to catch up. Then I would also talk about on the bottom one, when we talk about taking advantage of different things that are going on in the market. Leveraging brownfield and retrofit opportunities, and I'll hit on this in a little bit. There's an existing infrastructure out there that is not going to go away. How do we find ways to adapt that existing infrastructure into what's next? We're working a lot with customers on how we manage those opportunities. At this point, I will turn it over to Amy to talk about Earthly Labs. Thank you, Joe. It's an honor to be here today and to be part of this amazing executive team at Chart. As you know, they have a 160-year history of innovation, engineering and manufacturing, and amazing team solving some of the world's toughest problems. As an entrepreneur, to be able to tap the wisdom here on the stage and beyond is a dream come true when you have a big idea. And at Earthly Labs, our big idea was to capture and avoid a billion metric tons of CO₂ emissions from small-scale emission sources. In the carbon capture space, this segment had been largely overlooked. About 20 years of history had been focused on really large-scale emission sources and market segments. I focused Earthly Labs on the white space, and this white space requires a lot of innovation. In fact, to go smaller is actually more expensive than to go big because most of the work has been done on that volume. For us to tap the scientists that have been hard at work at Chart on cryogenic solutions, to build process models to manufacture in Tulsa to address these big ideas has been awesome. I get to share with you today three case studies of our customers that showcase our technology at work. Much like Joe shared, the technology that we use is the same across each customer base, so the same standard quote, same core product. As we look at new markets outside of craft beverage, which is our beachhead market, wineries and distilleries, it is the same core product. We do have add-on modules that we would provide and will provide to our customers. It's the same core product. That allows us to scale and under the Chart umbrella, improve our manufacturing and delivery model to continue to improve our profitability. With that, I'll share three case studies, the first of which is The Alchemist. They're based in Vermont. They have a favorite IPA called the Heady Topper, which is loved by craft beer fans across the country. They implemented our CiCi Oak system at the end of last year. You can see here on the side, we have what we call a Smart Foam Trap, which includes a heat exchanger. We capture the CO₂ gas off the fermentation tank and bright tank. We run that through a heat exchanger, drop out moisture temperature, and then we purify it inside our product called CiCi Oak. The three steps of purification there are, we dry it to remove water, we put it through a scrubber to remove impurities, and then we liquefy it all inside that box there, which is about the size of a double door refrigerator. We also have software on all of our systems and a cloud-based system that allows us to remote monitor what's happening in the field and provide maintenance and troubleshooting. Inside the Chart ecosystem, we will continue to build on this software platform to enable our customers to share this impact from an environmental perspective and sustainability perspective with their customers, but also to take advantage of tax credits and rebates as we see them unfold. You can see there the Chart tanks, which are a core piece of every one of our solutions and the vaporizer. In this instance, our customer had existing tanks, and we leveraged one for recovered CO₂, but in most instances, we will sell a standard tank. The immediate post-sale from our installation here was them buying more Chart tanks because they were capturing their own CO₂ and needed a place to store it, to put it. This customer is the first one to buy a second unit. Again, most of our customers are single sites, but they have a second brewery in Waterbury, Vermont, and we will be implementing that this quarter. The next case study, we're gonna talk about is Roadhouse Brewing, and they're based in Jackson Hole, Wyoming. Again, you can see the same equipment, the Smart Foam Trap coming off their fermentation tanks, our CiCi unit, a Chart tank and a Chart vaporizer. What I love about this case study, like the Alchemist, they're very focused on sustainability, but they also are very remote. In some cases, our customers do face short deliveries or out-of-stock position, and they can't brew beer if they don't have CO₂. In addition, they are focused on sustainability and reducing waste at every turn. In the Roadhouse case, the upshot of our technology is the gas coming off fermentation is a natural byproduct of their great beer, but it has less impurities and, we scrub out what is there, but the beer tastes better. I love the story that this brewery operator shared at a recent conference we were at, where he said, "You know, my team just was blown away at the ability to capture molecules that we would just vent off into the atmosphere, purify it, and reuse it to carb our beer. But what we didn't expect was the quality enhancements. Like, the aroma was better, the head retention was amazing, and we prefer the beer, but our same great-tasting beer just a little bit better." Here this week at the Craft Brewers Conference, I got a picture of one of our recent customers, Tree House, that had created a special release beer they labeled Green, and they showcased that at the show, powered by recovered CO₂. Our customers are proud, and they're excited to share that with their customers, and their customers are rewarding them. The third and final case study is Trillium. This is a brewery in Boston, Massachusetts. They are also a very popular beer, but they have grown tremendously and even in COVID have expanded to satellite pubs. One of them is located just outside of Fenway Park, one of the destinations of baseball fans around the world. Because of their growth, they not only wanted to capture their own CO₂ because they were faced with CO₂ shortages, they wanted to take the CO₂ and transport it from larger tanks into smaller cylinders so that they could deliver it to their network of satellite pubs. This is a CO₂ exchange example. We developed with them over the last 18 months a CO₂ pump that allows us to let our customers convert that large tank into smaller tanks. It's a first of its kind, like Joe was sharing, but a real innovative application that we just implemented last month. We have a video here to share with you our customers' own perspective on what Earthly Labs means to them. Trillium was started in 2013 at a little brewery in Boston by me, J.C., and my wife, Esther, with the vision of becoming a modern New England farmhouse brewery. CiCi is really the foundation for what we're starting with for our sustainability efforts. Earthly Labs was one of those opportunities for us to kinda combine quality and environmental sustainability at the same time. We keep efficiency in mind whenever we're doing anything. CO₂ is produced in the fermentation process naturally and has for thousands of years just been, you know, gassed off into the atmosphere. The idea that carbon capture system was gonna be available to smaller breweries, in sort of a plug-and-play environment was incredible. It's otherwise only available to very large breweries. To be able to have the CiCi device and to have it be expandable with the addition of additional capture tanks made us very excited. We're gonna be able to use that CO₂ not only at the brewery but our multiple locations. It's also about where that CO₂ is actually coming from because the CO₂ in fermentation is being released from grains. It's being released from all natural ingredients. Now that we actually have a way to recapture it and get a product that is better from a quality perspective but also better for the environment and ultimately a cost savings, it's a win-win-win. With CiCi, we are using the CO₂ or ensuring that 100% of that beer's CO₂ is from fermentation, make sure it's as good as can possibly be. The taste was noticeable both in the aroma that the gas puts off as it bubbles out of the liquid, but in the flavor and the aftertaste as well. It was pretty remarkable. Nine out of ten could easily distinguish which was commercially produced and which was naturally produced. We ran extensive quality panels, double-blinded triangle tests and all different members of the team here. Eight out of nine, nine out of 10 were all choosing the CiCi carbonated beers, were able to pick it out right away as being a cleaner, crisper, fuller rounder flavor and aromatic profile. As soon as we saw what kind of quality improvements that we would see in the beer itself, after running the machine for a bit, we were totally sold. We're always trying to make the best possible beer, and everything that goes into the beer, we scrutinize. Why shouldn't CO₂ be another one of those things that we scrutinize? Fermentation CO₂ is clean CO₂. It couldn't be better. As you can hear, our customers love doing the right thing, but it also saves them money and makes better product. In addition to being able to help more customers than we have in our history, we realized three amazing business milestones last quarter at Chart, and we continue to try to break records. We had our best quarter on record in terms of order volume. We also closed our biggest deal on record. That's our CiCi Elm product. The customer believed in our engineers and technology, but Chart helped convince them that we were a sound investment for innovation. Our third milestone is we were able to open and say yes to new markets that had been interested because we're now able to service and support the U.K., Australia, and New Zealand. We are working on final certification similar to what Joe shared on our pressure vessels into Canada. We are in the final stages of ASME certification there as well, and that will open that market for us later this year. It's awesome to be a part of what Jill refers to as the Oceans Eleven team, and she doesn't give herself enough credit. She is one of the hardest working entrepreneurs here, as are all the folks that you see on the stage. It's really an inspiration to us. As part of that team, we get to tap this expertise and also that of my fellow CEOs and acquired companies. We meet regularly and ask, you know, "What are you doing? How can I help you? What can we do together?" Some few examples to share with you are in the European market. We've been asked to service the needs of biogas customers that need small scale carbon capture. As Joe described, SCS is expert, and they have, in our opinion, the best technology for post combustion. We have the best platform for small scale, so we're working with them on models to incorporate their technology at a much smaller scale to meet the biogas market. We got a call on Thursday, just of last week, out of the UK for a multinational and CPG that is looking at global distribution of said thing, and they've done their own research and determined Earthly Labs was the best suited for this problem. We couldn't agree more, and we're excited to work with SCS on that. The second example is our collaboration with AdEdge and BlueInGreen in the water space. Most of our breweries are looking at CO₂ capture as part of a larger sustainability portfolio. Water, for some of them, is both a regulatory requirement dealing with that and also just a problem they wanna solve. If they can reuse that water, often they see immediate cost savings. A lot of our brewery customers, in fact, at that conference I mentioned this week, I checked in with the team yesterday, and we had half a dozen of our customers talking to the water team about the needs they have in water. We continue to cross-sell and upsell and present a full solution that will benefit us and of course, Chart and its shareholders. The final thing is the Chart engineering and manufacturing team. To come up with big ideas is one thing. To build them is quite another, particularly in a place where there is no precedent. With our CiCi Elm product, that is our larger scale CiCi system, we are building that in Tulsa. Immediately, Jill established an internal team made of cross discipline folks, manufacturing, engineering, mechanical, chemical, and we are actively building that product together. That innovation that we are targeting for official install at the end of this year, early next, is wouldn't have happened nearly as fast. That team has helped us accelerate our innovation and will accelerate our revenue as a result. Those are just three examples. I could continue to go on, but it's an honor to be part of the Chart team and excited to continue to share our success with you. Let's talk about the Nexus of Clean and how we link that together. You heard me talk earlier about the interlinkage between the traditional portfolio that Chart has with some of the adjacencies that we've brought in. I wanna just walk through a couple of examples that we have here. You know, when we talk about the hydrogen value chain, clearly everyone is familiar with our liquefaction technology. You're familiar with the trailer technology that I highlighted earlier. As we talk about moving into green hydrogen, which is the zero emission generation of hydrogen, how do we play into that? You know, once the molecule is generated, clearly we have that entire solution. In order to generate that green hydrogen, it's gonna be done off of an electrolyzer. Well, what is required for an electrolyzer is very specific quality water. With our ChartWater offerings, you know, as you see in, for example here, it's got our containerized ChartWater POD. That water pod is designed to provide those very specific quality water characteristics that go into that electrolyzer. That is going to be a tremendous opportunity for Chart going forward as we move into green hydrogen generation. The other thing I would add about this too is it you know it becomes part of that full system solution. We're not just selling one piece of equipment here, one piece of equipment there. Nobody comes to Chart. Well, a lot of people come to Chart and say, "I wanna buy a piece of equipment," but that's just a one-off sale. When we can offer that full value solution for the entire system, that is when we get very sticky with customers, and we develop that long-term relationship, and we become part of their normal specification. As they install more and more of these projects, we're specced in from the get-go. You know, similarly with you know, Amy talked about carbon capture and how we play into that. You know, this is true whether it's a Sustainable Energy Solutions, SES type application, or whether it's an Earthly Labs application. When that CO₂ is captured, part of the challenge is what do you do with that CO₂? You know, she gave examples of how breweries are reutilizing it or distilleries or wineries. They're putting it back into their product. There's other applications out there that there's a question mark as to what do we do with this. Through different offerings on this entire value chain, we can go from when that carbon, when that CO₂ is captured, to its final utilization when we put it into one of our transport trailers and then move it into our ChartWater offerings, because CO₂ is a key component in water purification. It gets encapsulated in that water, and it's the perfect scenario where we take that CO₂ out of the air or post combustion and then get it to its final point of utilization. This image has a lot of stuff on it, and I'm not gonna go into every single detail, but really it's about the breadth of the content that Chart's gonna have on a typical, even traditional wastewater treatment plant. You know, when you think about Chart, a lot of people say, "Oh, LNG, industrial gas." Well, wastewater treatment is a big part of our business going forward, and it utilizes many different components that we have. Now, I would point you to the lower left corner as well. You know, we don't make fuel cells. We don't make trucks. But we do provide components that are a very important part of those particular pieces of equipment. They also play into how we go to market. The last example that I'll bring up here is around coal-fired power plants. I mentioned earlier there's a lot of existing infrastructure that's out there. Part of our business going forward is how do we retrofit these brownfield applications and existing infrastructure. Coal-fired power plants aren't going away. Whether it's in the U.S., whether it's in Europe, we have to continue to utilize them. How do we clean them up? That's where the challenge lies, and that's where Chart's solutions come into play. From the time that CO₂ is generated to the final utilization, we have those solutions that are going to help us continue to utilize those existing infrastructures. Okay. I'm gonna start this section off and take the first two slides, and then Joe Brinkman is gonna take it from me there, so you can take the podium. Okay. This slide is what you guys saw last week. This is our this year, next year capital expenditure list. I'm gonna point you to the far bottom right, $47.4 in 2023 forecast. Today, I'm gonna tell you about our next series of in-flight CapEx that's about to kick off. I've commented that the work that we have going for capacity expansion, and Joe's gonna talk a little bit about the progress there, is purposeful. It's purposeful in part because we know what the demand profile is going forward. Let's take the German trailer expansion. I said we had tens of millions of dollars of trailer orders from a European country's government that came in a couple weeks ago. That in and of itself. Let's just round that, right? Let's say that's $25 million-$30 million. The German trailer expansion is about $10.5 million of CapEx. Those trailers for that particular order, the way that their delivery profile is, allows us to do all of them in our capacity expansion. Part of our thinking of when we expand, where we expand, and how we expand is from a competitive situation, but also from ensuring that these investments are gonna pay back themselves, and also in conjunction with where we are in our inorganic processes. I'm gonna point now to the bottom three rows above the chart total. Okay. First, let me point you to 56 on the 2023 number. We've increased that outlook. There's probably some timing in here, right? We're not that good to get to 56.4, but when you split out kind of the timing of the CapEx, that's how it lands. The bottom three are our next series of capacity expansions that are about to kick off. The New Iberia, Louisiana, rooftop expansion. New Iberia is where we manufacture cold boxes in the United States. As you can imagine, with all of the LNG work that is coming our way, in addition to the specialty work, we have lots of activities happening in New Iberia. We also have plenty of land. What we're hearing more and more from our customers is they wanna have their cold box put together under a roof. We have a certain amount of roof line, and then we have a lot of land and a lot of lay down yard. Historically, that was fine, but now folks are wanting their cold box to be made in a facility. We're adding roof line on our existing land, and that has kicked off effective about a week ago. Going up from there, Allentown, Pennsylvania. At the outset, I said Mid-Atlantic. Okay. Allentown, Pennsylvania, is the center of the cryogenic world. Many of you know that, many of you know why. A year ago, we bought the Cryo Technologies business, which is headquartered in Allentown, Pennsylvania. There are other potential inorganic investments in the Allentown area. What we've also looked at is we need a Mid-Atlantic location. We love having our flex manufacturing locations. We have the one at L.A. Turbine, came through the acquisition in California. That's our West Coast flex manufacturing location. The second one we have is Tulsa, Oklahoma, so we've got the Midwest covered. Now we want a flexible manufacturing in the Mid-Atlantic region. We will be kicking off very soon the build of a flex manufacturing facility in Allentown, Pennsylvania, where we will put a center of excellence inclusive of our Cryo Technologies folks. Joe Brinkman was out there yesterday looking at some of the land. One of the things that we do like about Allentown also is, there is cryogenic expertise, there is good availability for welders, and, there's land with rail spurs. Hearken back to the rail cars, we anticipate that we will need another location with a rail spur. Okay. The third up from the bottom, the bulk tank greenfield. Joe BE told you a lot about demand for these applications. In the case of space, this is a, I'll link to space, but this actually applies to a lot of these different markets. Bulk tanks are getting bigger. Okay? When you think of a big bulk tank, for those of you who've been to our Minnesota facility, you've seen those. That's not big. That's not big bulk tank. Big bulk tanks are half the size of a American football field. I mean, these are very, very large. You can imagine the size of a facility that you have to have, the cranes that you need, the height of the facility. We can do a lot of those in Chart China, and we can do a lot of those in the Czech Republic. But you can't move them very easily through your shop. Bulk tank expansion, we're looking at doing that at our Theodore facility in Alabama. We have enough land at that facility to expand there. There's a potential that we would buy some adjacent land as well. We do expect when we kick this off here in the coming months that we would have a similar type of order or series of orders, as I described for the German trailer expansion. That would be our base level load capacity for when that's kicked off. Again, we don't just go out and do these. We do these with knowing we already have volume that is gonna run through those shops that would be very difficult for us to do in other locations. I can tell you also that bulk tanks are in high demand coming out of India. We do have an existing India location. We're not yet currently at the point where we're ready to say we're gonna pull the trigger on doing bulk tanks of this magnitude at that facility, but there's an evaluation by our emerging executive leaders underway for that particular region. Right now we're talking about the U.S. expansion at the Teddy trailer and tank site on our existing land. Okay, those are the next up in the sequence of organic CapEx. There's the potential in our thinking as well that some of our capacity comes through the potential for opportunistic inorganic deals that are in our pipeline, but these are organic investments. With that, we're gonna give you an update on the ones that are already in flight by Joe. All right. Ongoing, we have a capacity expansion at our Sri City, India location, where we're more than doubling the capacity that we have there. As part of this expansion, we're adding a dedicated ISO container line that can build up to 200 ISO containers a year, which adds 30% to our existing ISO manufacturing capacity that we have currently in China as well as the Czech Republic. This additional capacity will be key as we are seeing growing demands for LNG ISO containers and then hydrogen on top of that as well. As you can see in the photos, this site's expansion is well on its way and will be coming online in Q3 of this year. Continuing our strategy of replicating key manufacturing technology in multiple locations, we're adding a brazed aluminum heat exchanger line, and this is in process as well, to our Tulsa flex facility. This is critical additional capacity to support our LNG liquefaction and hydrogen liquefaction growth that Jill and Joe have alluded to earlier. As a reminder, Chart currently owns the two largest brazed aluminum brazing furnaces in the world at our La Crosse facility. What we're putting in the Tulsa location is a replica of the second largest. We can build 96-inch cores that are ideal for mid-scale and specialty liquefaction. Then Jill just alluded to the GOFA trailer expansion in Germany and the recent order that we had from a European government there. What this does is we've been blessed with substantial orders and have a solid backlog there, and our lead times have extended out a little further than we like. This expansion gets us the capacity to get those lead times back in line, but it also we're adding the capability to the special equipment to manufacture liquid hydrogen trailers similar to what we're doing in Teddy in our German location. As the hydrogen market has taken off in the U.S. for fuel cell applications, for clean-burning fork trucks and automobiles and everything else, that is coming to Europe. This capacity expansion gives us the capability of doing these in Europe. This has been kicked off. This will come online next year. A very exciting technology that I wanna share with you, augmented reality for weld training. This is basically virtual reality welding. I'm not a virtual reality gamer or anything, but really. This is very similar in that basically anybody can use this and practice welding. This is especially helpful as we're bringing in newcomers that wanna learn how to weld and maybe have very limited skills. They can basically do a ton of practicing without consuming metals, without wearing the PPE, without burning all the electricity through a welder and very quickly get the repetitions they need to get their skills up so we can turn them over to, okay, here's your. Here's all your PPE, here's your metal, and start there burning for real. But you get, you know, like anything else, that requires motor skills like this, practice makes perfect. This allows you to do a lot of practicing very quickly. This is a key technology that we're gonna leverage across the globe and have recently kicked it off here in New Prague, or over in New Prague, I should say. 3D printing we've added in Tulsa, Oklahoma. Usually, like the last slide indicated, we're joining, we're bending, forming, welding metal in our processes, but we also have many plastic parts used in our equipment. We've added 3D printing capability in Tulsa, Oklahoma, at our flex facility there. One of the many great applications for 3D printing is the quick design turn and manufacturing of jigs and fixtures. The examples shown here are simple jigs that we use to locate parts that are about to be welded or about to be connected, and do that so you can do that quickly and have the parts be in the exact same place every time. This is an example of robotic welding that we've added to our Czech Republic facility in Děčín. This is another force multiplying technology where we're basically reducing headcount by leveraging robotic technology. In this particular example, we're welding carbon steel legs and leg pads together. This is basically taking two welders and turning it into one operator, and then we can redeploy the welders to go weld a hydrogen tank or an LNG fuel station or that sort of thing. We've installed something very similar to this in New Prague back in 2021 and are seeing extremely good results there. We're continuing to roll out this technology globally. Maybe a little less exciting than the CapEx, but equally important, as Jill highlighted earlier, is the quick J.D. Edwards ERP integrations that we're doing with their acquisitions so we can leverage the Chart capabilities with their acquisitions seamlessly. Earlier this year, we completed the Cryo Tech and AdEdge ERP integrations. Early in Q3, we'll have L.A. Turbine and Amy's Earthly Labs completed. I will now turn it over to Mr. Ducote to talk about research and development. Thank you very much, Joe. Now for the good stuff. We're gonna talk about engineering, research and development, and innovation. All the good things that go with that. Brian and I are gonna present to you some of the R&D efforts. We certainly don't have time to present them all, but we'll hit a few key points. The first one is on this cover page here. This is our test facility in New Prague, Minnesota. Brian, would you walk everyone through this? Yeah, sure. This is our test facility in New Prague, Minnesota. It's about a $10 million investment between CapEx and OpEx. It's unique in the industry because it's a dedicated research facility. It's not a repurposed, temporarily borrowed production facility that engineers go and they experiment on and then return back to production. It's exclusively used for R&D. What we're trying to do here is test out the various components that go into our fueling station components, fueling stations for liquid hydrogen, and also trying to optimize our liquefaction processes too, as well. Along the way, we'll be testing various pumps, valves, other components at the site, and then we'll work in cooperation with people like the Compressed Gas Association to do testing and improve industry standards too, as well. Yeah. Okay. We're gonna talk a little bit about two or three of the things on this page, starting out with L.A. Turbine. We have an entire slide on L.A. Turbine coming up, so I'm just gonna point out that we have an extremely good interface between all of the engineers at L.A. Turbine and the engineers in La Crosse doing heat exchanger designs, as well as the Cryo Technologies engineers in Pennsylvania, and the Woodlands engineers. This is something that we've done before on LNG work, where we bring in the principal equipment manufacturers, sit them down with the process engineers, and optimize, iterate on the process solution with the equipment efficiencies and designs, and we have a great program going there. On the Cryomotive side of this slide, in the lower center part of this, we have an opportunity there that we're looking for. Cryomotive Solutions is a cryogenic compressed gas tank onboard large trucks and transports. We also, of course you know this, we have a liquid hydrogen solution. We have the tanks, et cetera. Brian will talk about that. The Cryomotive is slightly different, and our opportunity there is to build stations, fueling stations that go with their tanks. Also, there's an opportunity when the hydrogen is produced locally and is in gaseous form, we have an opportunity to compress the hydrogen first and then cool it down to put it into their tank. We're working on that process plant right now as well. We're gonna hit this market with both solutions. The other thing I wanted to point out was the BlueInGreen and AdEdge water purification for electrolysis. I think we've touched on that quite a bit. The one just below that is the necessity to remove water and to dehydrate flue gas in order to do cryogenic carbon capture. I told them not to get too technical on you guys. Too technical? Sorry. Oh, okay. Anyway, we have the ability to treat that water after we've removed it from the flue gas before it's disposed of or before it's put to some other use. The last one I wanted to just mention on this particular page is the one cryogenic carbon capture to LNG for power plant purposes. One of the ways that we think greenhouse gas emissions will be reduced in the world, of course, is the use of LNG. But when LNG is used in a power plant, it has to be warmed up, you know, before it can be used as a fuel. That cold energy can be recovered in the cryogenic carbon capture process. That process uses IPSMR-type refrigeration systems. We can reduce the power consumption of the carbon capture process by as much as 40% if we just capture the LNG refrigeration value as opposed to just vaporizing it by normal methods. Next. The next thing we're gonna talk about is some of the process work that we're doing, particularly in the hydrogen area here, hydrogen liquefaction area. Our process group out of The Woodlands, Texas, in conjunction with Cryo Technologies, again, a One Chart play here, developing an improved refrigeration process that would allow us to use centrifugal compressors. Hydrogen is very difficult to compress. Typically, it's done with screw compressors or reciprocating compressors. But centrifugal compressors can be installed at a much lower cost, especially in the larger capacity-sized plants. We're seeing inquiries. We see a lot of inquiries for 15 tons per day. Traditional recip machines probably will dominate that. When you get to 30 tons per day in larger sizes, a centrifugal compressor will be a better solution, we believe. It'll reduce capital costs, it will also reduce maintenance costs, and it will have higher availability. Just to highlight two other solutions that we're working here on this slide. To maximize range for things like heavy-haul trucks, Class 8 trucks, dump trucks, that sort of thing, we're working on a liquid hydrogen to liquid hydrogen fueling station. Fueling station will actually deliver hydrogen as a liquid to a liquid vehicle tank that goes on board the vehicle. This will improve the range of the vehicles by about 80% over gaseous storage. It's just a lot more dense than gas would be. Another solution that we're working on, we've had many customers come and approach us asking about maximizing air cooler capacity while minimizing plot space. It's particularly interesting for things like Fast LNG, where New Fortress Energy is planning on doing liquefaction on some jackup oil rigs. Plot space is at a premium there. It's very expensive. It's not dirt, it's steel that they have to construct in order to hold the air coolers. We're working on all sorts of different geometries, testing to try to maximize that cooling capacity. We have a wealth of experience with trailer manufacturing throughout the world, but we don't currently have industrial gas transport trailers in the United States. Something that we're working on currently is developing solutions for that space. The one that's active at the moment is a liquid oxygen storage or transport trailer. Steph. This is kind of an important one in terms of what we're seeing in the market on industrial gas trailers in the United States. Similar to my comment where liquefaction, we have very few competitors, and in many cases, our customers don't wanna buy from a competitor of theirs. We're seeing this same trend in the traditional industrial gas transport space. Last year, one of the trailer companies got purchased inorganically by somebody else. Since then, we've seen an enormous amount of inbound RFQs for us to hit this market in the United States. This is rolling out here, pun intended, within the next couple of quarters. Okay. Most recent milestone for this one. Do you want to move on or? No, no, keep going. Okay. Most recent milestone for this one is just have maximized the tare weight or maximized the carrying capacity of liquid oxygen transport trailer. Some next steps that we'll be taking, it's just very important to our customers that the back end of the transport trailer, where all the plumbing is, it's very ergonomic and easy to use. We're collecting feedback on that. Later along in the year, we'll be working on liquid nitrogen, liquid argon transport trailers too as well. All right. Pumps. Something you've heard Jill speak about over the last couple years quite frequently is this liquid hydrogen high-pressure pump. This will be commercially available in this year. It's a particularly complicated exercise for us, not only because of the pressure operating up at 12,000 PSI, but also the use pattern of the pump. This is gonna go into a fueling station, and everybody here, I'm sure, has fueled up their vehicle at some point in time or another. You need to be able to fill the vehicle quite quickly, so these pumps operate much more quickly than anything currently on the market, also at a higher pressure. Another unique feature is when you walk up and you push a button, you expect the pump to start. You wanna be in and out of the fueling station in three to five minutes. All of the pumps currently on the market take, like, an hour to cool down. You have an eight-hour operation where you're filling a cylinder that looks like a helium cylinder, where you would fill a balloon from. It's just something that they do, you know, three times a day with different shifts. It's not what we need for this application. It's gotta start very quickly, operate very fast too as well. This is a purpose-built pump to do all of that type of work. Our most recent milestone on this one is some slow speed testing, operating up at about 12,000 PSI and well within the timeframe that we would need for the application. Next slide, Jill. What you're seeing on this slide is Chart's first-ever liquid hydrogen ISO container. The picture that you see is the ISO container being structurally tested. That's the most recent milestone for this application. That ISO container is now back at our facility. It's painted, it's undergoing plumbing, and it'll be available for the customer in August this year. We're also concurrently working on a couple of other designs. We have some shielded hydrogen designs and shielded helium designs that we're working on. The shielding is just there to increase the storage time. It intercepts a bit of the heat and makes sure that you're not turning the liquid back into a gas before it can reach its final destination. Particularly important for the helium applications, where you might be shipping helium by ocean, could take a month or more to get to its destination. Working on some very efficient designs too as well. I'll tell you a little bit about L.A. Turbine and the development work we're doing there. This is a great acquisition for Chart. Their expanders fall into use in a number of our liquefaction technologies and processes. Some in the LNG world, but a lot in the helium and hydrogen world. We have a great One Chart team working on that with L.A. Turbine, Cryo Technologies, again, LaCrosse Engineers, as well as the Woodlands Engineers, working on optimized turbines. We have a great design that's ready for market right now that will use magnetic bearings. The reason we wanna use magnetic bearings is L.A. Turbine has a lot of experience with magnetic bearings, by the way. This is the first time they'll put it into hydrogen service. The purpose of the magnetic bearing is pretty simple. It eliminates lube oil in the expander compressor set. Lube oil is a really bad thing if it leaks into a cryogenic process operating at 20 K. You can get it out, you can flush it out, but you just don't want oil anywhere around this equipment if you can get it. The magnetic bearing will eliminate the oil issue entirely. Of course, when you contaminate with oil, it takes solvents to clean it. It's again, it's not fitting the Nexus of Clean when you have to spend a lot of effort and whatnot cleaning a system out. We're also doing a lot of work in the industrial gas space. L.A. Turbine typically do not do industrial gas turbines, but they're very, very capable of doing it. As part of Chart, they have access to resources and capital and whatnot. We're developing that market for L.A. Turbine as we speak, actually. We have parts on order, designs made, et cetera. We will be entering the industrial gas turbine expander market very shortly. The other thing that we're doing is on the smaller scale size, below 15 tons per day, magnetic bearings are not a really good choice anymore. The better choice is a foil bearing, and we're doing designs with foil bearings as well. Foil bearings are a little less expensive. There's no oil in at all involved in the bearing system, so it has the same quality of being completely oil-free. It's just the application for small turbines fits, the foil bearing fits better there. The last item that we have on this list is the generator loaded hydrogen expanders. This is a better way to load the expander than typical methods. We're doing that development work as well. Again, that'll reduce capital costs. It also reduces complexity around the loading devices for the expanders. On the carbon capture utilization storage side, we've talked a lot about CCUS, everyone has talked about it. One of the benefits of the SES carbon capture technology is that it's a better brownfield fit for installing carbon capture equipment than some of the other technologies out there. The reason for that is most of the other technologies have a large steam consumption required as part of their process, which really messes up the steam balance in the plant. SES simply uses some of the electricity that's been generated by the plant to begin with. It's pretty independent. This work is being done with the folks in Orem, Utah, who are the SES originators of the technology and being done with the engineers in the Woodlands as well, again, in another One Chart concept. Okay. Now we're gonna turn away from the engineering side and go toward the things that we see as inorganic opportunities. You know, I would start by saying. I think somebody asked me this question last week, like okay, was it intentional that you haven't acquired anything in four or five months? My answer was intentional, but not permanent. That is probably the best way I can characterize where we sit from an inorganic perspective. Let me give you a little bit of detail. These are inorganic investment principles. This has been our principle since we started doing more frequent acquisitions here and really getting access to either customers, geographies, technologies that organically would have been very difficult for us to do. Second, core cryogenic, right? Related to our cryogenic focus. The third is rounding out this concept of the solution offering and equipment. We feel great about our portfolio where we sit today, and you've heard a lot about that already. There's still some other areas that we like and that there's opportunities in our pipeline. The premise you've seen over the last 18 months has been what I call Pac-Man style bites. The idea that these are not gonna be massive, monumental acquisitions. There's really none out there, first of all. Second of all, we have this really great balance of taking some smaller bets on more innovative technologies and then also bringing technologies in-house through full acquisitions. Technology expansion remains on our inorganic list of opportunities. I would say, you know, the best way I can characterize this is I don't believe that the current technologies for, let's say, the production of hydrogen are actually gonna be the only technologies that get us to the 2030 or 2040 or 2050 targets across the globe. There's more innovation out there. You saw that through our investment in Transform Materials. There's other opportunities. We get a lot of first looks at deals in the Nexus of Clean, and so, staying on top of that, those opportunities and picking and choosing where we see something that we think could be a winner in the long run falls into that first category. The second is the footprint expansion. I call out specifically on this slide the repair and service. I commented that's United States and the EU. Certainly, repair and service small bites in our inorganic pipeline as of this moment in time. The third, logical accelerators. Okay, again, there's things. You've heard us talk about what we're gonna do ourselves organically, both from an engineering perspective as well as a manufacturing capacity perspective. There's opportunities that have companies that we know very well in our spaces, and you saw that again over the last year and a half of the deals that we've done. Those are long-term, decades-long relationships of working together. There's more of those out there. Okay? If you think through the concept of where we like the Mid-Atlantic region, we like the cryogenic expertise in that Mid-Atlantic region. There are certain pieces and parts in the spaces that are ramping up right now that we continue to have relationships with owners and anticipate a couple of them when they're ready to sell that we would be the logical right place for them to land. The linkages between gas and liquid. This is one that I would characterize more around inorganic investment versus acquisition. The first comments I've made are mainly around acquisition with the exception of if we see some innovative technology we might just invest versus buy. The linkage to gas and liquid would be inorganic investment. There are a lot of different ways that you can link these molecules together in various different applications. Doug spoke about the Cryomotive investment and the work that we're doing. That's high pressure gas and liquid going together. I think there's gonna be more and more of gas and liquid applications. There are some really great gaseous hydrogen players in the hydrogen world, and those are players we are talking to about potentially linking up via an inorganic investment. Again, I'll reiterate, kind of headline prices are similar to what we've talked about and executed on over the last couple of years. Without going into a ton more detail on our actual pipeline, there's a handful that are currently actively being worked in the inorganic side. Okay. This morning we announced that we bought out the other half of our AdEdge India JV. Just for relative size purposes, it was $425 thousand. Okay. We didn't put a number out there for the sheer fact of like, okay, that's tiny, but the market potential that it gives us by owning it in full and having a presence in India. India for India water treatment, many of you know how India works in terms of winning these types of projects. Having a physical presence and a capability and an entity there makes a big difference. We also announced this morning. Think about it. It's $425,000. We own it in full, and I just booked a $6.1 million India water treatment order. Again, this concept of, let me make the investment but know my return, my return profile. That was in a particular state that is dealing with arsenic and some other challenges. There is a second of that order. One of the things we love about water, you heard Joe BE talk about, ChartWater in Brazil. That's sequential. That's not the only project in São Paulo, as an example. This $6 million order we announced this morning is the first of a series of these same types of projects. We do have a strong feeling that we anticipate another India water order coming here in the next 60 days-ish, of a similar magnitude. You get the sense that that market's starting to move ahead, and having the presence and having the linkage to the respective states and governments in India, is going to have us be a key player in that market. Okay, we're gonna bring it home with sustainability ESG talent. How do we do everything you heard today? We got a lot of really good people in this organization. You've just seen a few of them, but I'm gonna tell you a little bit more about the programs that we have to pull them out. Before I do that. Oh, and then I'll finish up with our three-year forecast. Ally, come on up. Do you have another microphone? Okay, so you have a handout underneath your books. We also have a new role in the organization that Ally has been promoted into this week, the director of sustainability and marketing. Ally has been instrumental in all three of our sustainability reports that you've seen come out, as well as a lot of the activities that we have in flight around ESG. Ally, introduce yourself. Hello, everyone. Thanks for the introduction, Jill. I'm super excited to enter this role. Just a little bit background on myself. I started out way back when as a corporate intern at Chart. I worked on primarily some marketing and finance-related type projects, finished out my degree and came right back to Chart in the Emerging Leaders program, which Jill will talk about in a little bit. A large majority of my projects in that program were related to sustainability, and I kind of fell in love with it. I fell in love with Chart's whole business plan, how we're uniquely positioned to not only be more sustainable as an organization ourselves, but able to help our customers lower their emissions and reach their targets as well. I thought that was a really neat area to work in this organization. After that program, I moved into a product management role where I managed our packaged gas system, so specifically, beverage tanks and liquid cylinders. I just kinda found myself relating everything I did back to that sustainability aspect and always thinking of ways to make our products more sustainable, more efficient, how can we market these so that the public understands that there's other end-use applications out there, apart from the traditional end uses as well. It was always kind of a very natural fit for me. Then two days ago, I got offered this position and took it without hesitation. I'm really excited to, you know, continue with this momentum that Chart already has in the sustainability space, give it even more attention, and really help us kinda move into that new era. Again, thank you, Jill. Thank you, team, for the opportunity. I'm super excited to hit the ground running. All right. Ally's gonna hang out 'cause she's gonna tell you a lot about what she's done already and put in place. I can tell you guys, I interviewed externally for nine months for this role. I interviewed internally, and the candidates couldn't get close to what you're gonna see come out of our own organization. Just another testament to the Emerging Leader Program, to Ally herself and her efforts, and I think we got a good match here. Our sustainability report we put out earlier this month or last month, I guess, and I point out a couple things. You guys can read it 'cause it's really detailed, but we did reduce our GHG emissions last year by about 14%. That is a direct link to our short-term incentive program, and we have all of myself, these guys, my staff and their staff all have ESG metric in the short-term incentive, and that is the actual percent reduction target for the year. It's not squishy. It's actually really tangible. We also next week, next Friday is our annual shareholder meeting, next Friday morning, which will be virtual. As part of that, we have a current director who's on our board who will be standing for election as our very first chairwoman in the history of Chart. We're excited about Singleton McAllister taking that role on. Just another kinda step in what you've seen us over the course of the last years do board refresh. We've been very structured in our approach of when we add directors. You saw us add three last August. That was purposeful in anticipation of potential changes in the future. You also see up on the screen a lot of the organizations in the Nexus of Clean that we're leaders in. I'm gonna just talk to three of them. Upper left-hand corner is Hydrogen Forward. We were a founding member with 10 other companies in the hydrogen space. These are 11 CEOs, so myself and 10 others, that we speak regularly with government officials around policy, around setting the approach towards sustainability in the United States in particular, but also how the United States government supports other governments with respect to hydrogen strategies. We were a founding or actually early member of Hydrogen Council, not a founding one. Now there's 140 entities in Hydrogen Council. We joined back in 2019. This is a CEO-only organization that works toward educating as well as developing commercial opportunities. A lot of the partnerships, collaborations that Chart and many other companies in the hydrogen economy have announced come through that Hydrogen Council linkage. Then last, on the bottom there, IH2A is India H2 Alliance, and we, along with Reliance Industries, we're the founding members of IH2A. Similar to as I just described on water in India, that's how hydrogen is gonna start to take hold in India as well. It's gonna be mainly through the public sector, unlike what you've seen in North America, EU, and what you're starting to see in South Korea. Lots of things on how we do this ourselves. I'm gonna let you guys read it, and have Ally just talk to you a little bit about the ESG subcommittees we have within our organization, which she was the idea behind that. Thanks, Jill. Obviously, we publish an ESG report once a year. I know that all of you know that ESG doesn't just happen once a year. It happens every single day in and day out. It needs to be at the forefront of our minds. Really what this subcommittee idea is kind of based around is bringing attention to these ideas regularly and keeping a pulse on these ideas. What you quickly learn working in ESG is that some of the best improvement areas, you know, they really don't come from this team. No offense. They come from the people working on the floor every day with our technology and with our equipment and with our processes. The problem is that a lot of times, you know, these ideas don't get you know, brought up and given to our attention. The idea behind these subcommittees is to bring everyone together regularly to discuss these ideas, so that we can be informed, and we can provide resources to get those implemented. Another really important idea about these subcommittees is to kind of bringing in that One Chart approach of learning from other facilities around the world. One of my favorite examples through these subcommittees is we were on one of the subcommittee meetings and One of our China facilities had a really good waste management program. During one of our meetings, they were discussing, you know, how they go about doing that. Through that discussion, we were able to replicate that to some facilities in the United States. That's just one example of how, you know, we're sharing best practices regularly, and we never really opened that line of communication before. Really, this. Jill likes to give me this credit for putting this together, but really it's just how do we open that line of communication amongst ourselves and take advantage of what we're already doing that we might not know about across the world. This has really been. It's worked well for us so far, and I'm excited to see how we can continue to leverage this. Thanks. Okay, you know we help our customers in achieving their sustainability targets as well. That's something that we regularly discuss with you. You know, a couple of examples that I like to share are around things like the dosing for bottling. The dosing equipment doses a molecule, and in many cases, it's about preservation of the food or the beverage. In other cases, it's about holding structure of, say, your water bottle, your plastic water bottle until you open it. Our technology and equipment allows for half of the plastic that used to be used in bottling, but still have the rigidity to hold that. We love to share the equivalent of things that we do for specific plants on saving PET. Lots of examples like this, I'm not gonna drag you through them. We did have a good chuckle as we were going through the deck yesterday in our practice session because we actually say we serve five UN Sustainable Development Goals, but we only show four here. Four or five. Go with it. All right. Safety. Safety is our number one priority. You might have picked up on Wade's safety moment slide. At the bottom, there were four key themes. Those key themes, every single one of our 5,000 team members, no matter where they are, what language they speak, if you walk out to the shop floor or into their office, they could tell you those four key themes. That's number one, safety is our priority. Safety is directly linked to quality, to profitability, to productivity, and to employee engagement. That's something that we monitor very, very closely. We hit our lowest rolling 12-month total recordable incident rate as of March. We're very, very proud of that, but not proud enough until we hit zero. Zero accidents. Number two of our key themes is be nice to your customers. We actually call it BNTOC internally. That's one of Joe's internal trainings that he does regularly is be nice to your customers training. Sounds silly, but I guess it was my first couple of months as CEO of Chart, I randomly ran into someone who didn't know me, and they said, "Oh, I'm in cryogenics too. You guys are the Kardashians of cryogenics." I'm like, "What does that even mean?" What it meant was that we assumed orders were gonna come in. We assumed because we had good quality product, which we do, that people were gonna come to us. That's not the case. You heard today a lot of what we've done to continue to innovate and continue to get sticky with our customers and listen to them, which is a really important theme. Number three is a strong work ethic. Number four key theme is give back and have fun. I'm gonna get there. You saw this last week. This is. We put Tom Drube, so he's one of our four engineering fellows in our entire organization, Vice President of Engineering. We put this in our deck last week, and I'm putting it up here again because, don't underestimate that this award. This is once a year from the Compressed Gas Association, awarded to someone in the industry, and it is truly an honor. One of our board members, Mike Molinini, who's the former CEO of Airgas. Mike, when we told him that Tom won this award, what Mike said was, he said, "We've been at those CGA awards as Airgas for decades, and we won a lot of awards. We never won this award, and this was the one we wanted. We're really proud of Tom." That's why we keep showing this. Again, don't underestimate the power of safety as a differentiator as well within handling of molecules that can be deadly. Okay, talent development programs. Talent, the fundamental base of everything that's going on in our organization. Again, as Ally said, no offense, it's a lot of these guys in terms of leadership, but the actual doing every day is throughout the organization. We're very, very proud of these entities, organizations within our organization. The rotational engineering program has brought in an enormous amount of talent, and that's something that we partner up with universities, we partner up with HBCUs, we partner up with Georgia Tech, with Minnesota, with Texas A&M, and there's just a lot of opportunity for us to bring in key talent through those university programs. The emerging leadership program that we have, which Ally came through, is a dedicated program. This is your job. You are an emerging leader, and these guys do high impact projects that the executive leadership team provides and assigns. Generally, there's 10-12 people in this program at any given point in time from around the world, and they're handling about 40 projects. When I say high impact projects, like, these are legitimately high impact projects. Ally did the sustainability projects. She did a bunch of other ones. Right now we have that same team is evaluating the bulk tank manufacturing in India. They evaluate new designs. They evaluate new markets for us. That's been a really useful tool. We have six graduates from that program already. We started it about three years ago, and every one of them has landed in a manager or director role coming out of that program. It's a really good incubator. We can go on here. I'd say Welding Council is a pretty unique one to Chart. You heard Joe BR talk about the augmented reality for welding training. Welding Council, we take strong welders from every single one of our locations around the world, and they join Welding Council, and then they set up programs like MIG and TIG welding training, like augmented reality training, sharing of best practices, things like the 3D printing that you heard about. The Welding Council is. It might sound kind of, "Okay, why doesn't everybody do that?" But it's pretty unique to Chart. It's not an easy thing to replicate, and that goes to the talent within the welders that we actually have. Ally was a founding member of our Diversity and Inclusion Committee. Briefly touch on that. Sure, yeah. Diversity and Inclusion Committee, it's been around for a couple of years now. What's significant about this committee is that it's not run by the executives. It's supported by the executives, but it's run by Chart team members. The most interesting part of the committee is that it hasn't lost any momentum. I think giving team members the ability to create their own projects and drive their own initiatives really keeps the momentum going and keeps the projects fresh, so to speak. Just to touch on one project that the committee was able to complete, that is one of the coolest projects, in my opinion, from subcommittee one, community involvement. The D&I committee was actually able to create Chart's Giving Back initiative, is what we call it. This initiative allows for every Chart team member to have an additional day of PTO on top of their normal vacation days and sick days to give back to a community initiative of their choosing. Along with that, Chart will also fund match up to $250 per initiative that each team member would like to support. We've gotten some great feedback, not only from our team members about how much they appreciate this, but also nonprofit organizations from all over the world. This initiative has really spread to all of our Chart locations, and it's very well-received. I think that this is amazing that this was something that our own team members came up with, planned, set up themselves, and were able to create that magnitude from all over the world to have it that far-reaching. Great committee, and I'm really proud of where it's ended up. Now we're gonna last couple minutes of prepared remarks. Ally just teed up the Giving Back that we do. You know, we talk about it, but it really is important, and it really is meaningful to our team members. One of the things that is important to our team, we have about 15% of our employees are veterans of the military, and those are organizations that we give back to regularly. One of the ones that more recently we've given to is Tech For Troops. This is something that we give our old laptops to, our old computers to this organization. It's something that I would say when you hear the stories and you get the feedback from people who benefit from something that as simple as we would normally have just gotten rid of those computers, right? How does somebody who's transitioning out of the military in this Tech For Troops organization. How do they transition? We help them with welding school. We participate in training on the welding side, but something as simple as a computer, you're transitioning out. One example is an individual that was leaving the Navy. His wife had a full-time job. They had two kids, one on the way. He was going through school and his wife, who had the job, was using their one family computer from 8:00 A.M. to 5:00 P.M. In the evening, the kids were using it for homework, and he would stay up all night long to work on the computer to study, to get through his schooling. Through a donation through this Tech For Troops, they have another computer. He's able to do his schooling during the day while his wife works, and then they can do the kids' homework together at night. Again, things like that, you know, that says we can be profitable and we can still give back. That's important to us as a company. Cool customers, too. My all-time favorite slide. I love this slide. People don't know Chart as a brand typically, unless you're in the industry or in the space. One of the things Ally is gonna try to do more of is get our brand recognizable, but they sure as heck know these brands that are up on the screen. Okay, some of you might know this. My two favorite brands on the screen. Anybody have a guess? Cisco. Chick-fil-A. That's one of them. Chick-fil-A. I have the diet of a seven-year-old. Chick-fil-A is consumed regularly. The other one? You guys? Caymus. Caymus. I'm a very big Caymus. Wagner Family of Wine is on the bottom there. We provide dosing equipment to the Wagner Family of Wine. I probably single-handedly paid for that through my consumption of wine. So anyway, just a little fun to point out some of these unique ones. The Starbucks is dosing equipment for Nitro Coffee in a can, and the list goes on. A lot of those food and beverage are Carbo-Max tanks for CO₂ utilization in those locations. Again, I comment on the Giving Back portion that you know, we can be successful, we can hit the numbers we're telling you about and be a rounded-out organization, and that's something we're really proud of. Let's close it out here with what are we looking at. Same slide as what you saw last week. Q1 record orders for us in the mix with $220+ million around the big LNG side. We think that's just the tipping point, the starting point on the big LNG front. You saw that through the increase in what we believe is addressable size projects on the big LNG, small scale LNG, floating LNG side of things that we announced last week. I'm not gonna take you back through that. I'm happy to answer any questions around it. Nothing is different in the last five days, so this is a repeat of what we talked about last week. Here's that addressable LNG opportunity and how it has meaningfully increased. Meaningful increase happened in the last few months. Lots of opportunities. Again, I think not only are the size, the number of projects increased, I think the certainty of some of them has gone up, and the certainty and speed with which some of them will be deployed, in particular on the smaller scale side of things, has materially increased. The fact that, you know, I commented, we worked really hard to get away from the peaky trophy nature of the cycle. I think we're gonna stay away from that even with these elevated larger projects, because I don't think you're gonna see that gap in the middle of this decade on the big and small scale LNG. Even if you have a pause, a moment in the big LNG export side of things, we're seeing much more frequency and consistency on the small scale, mid-scale, number of orders and when we see them. So a lot of things coming together really well, in the current state, but I think we're at the starting line, and we're really well-positioned to take advantage of the portfolio that that you've heard about today. This roadmap on RSL, I wanted to include this 'cause I think it's really important that thematically, we started by talking about our EU and US footprint for RSL. We are going to continue to grow this business, and we're gonna continue to make sure that we're in the right locations for the business. These aren't heavy CapEx investments. They're not heavy inorganic buys when we do them, if we do them. This is a nice business that isn't CapEx intensive and has the ability to grow very fast. Specialty markets, total addressable market. We have increased this to the $42 billion and change in 2030. There are numerous drivers in here, and I will reiterate, as I said on the cannabis slide, where the market size was in 2024, the market size was $36 billion-$43 billion, right? You can see here in the next nine years, I've got the cannabis market, you know, isn't even $1 billion on here. I think that there's even more room to grow, this size of the market higher than what you see here, but we built this from the bottom up. Based on what we know with our customers, our commercial pipeline and our sales force system and our thinking around the adoption rates across this decade and how that's gonna happen. I do think space, as you heard Joe talk about in the public and private sector, we're extraordinarily well-positioned with folks like the Indian Space Research Organisation, NASA, United Launch Alliance, and the private sector are all our customers. I think you're gonna see more and more of the space exploration happening. Hydrogen, we modestly increased that TAM today, by another $1 billion. I'm gonna throw out that I think it's gonna be bigger than that. What I'm waiting to see on that is the gas-liquid combo. Okay. That's really if the gas-liquid combo happens the way that we anticipate it will, and we're able to get some of these things done that you heard us talk about today, then that has a meaningful upside to what's shown here on the page. Then molecules by rail. Don't again, don't underestimate these, the end-use bucket of that value chain. The end use, heavy-duty transport, trains, rail. The supply chain challenges you have seen have illuminated just like the Ukraine-Russia conflict illuminated energy security and independence and access, the supply chain challenges have illuminated the need for a variety of different concepts globally as well as locally. Rail is a portion of that. Cleaner rail is another portion of that. Again, this gas-by-rail concept, molecules by rail is important. You've heard most of the themes today that are shown on this addressable market slide. But we also feel like we're very well-positioned to capture a lot of that market that's shown up there. This isn't a 10% capture rate. This is a meaningful capture rate when you drill into each of these addressable markets. We'll end before we open up for Q&A with our three-year outlook here. It took me a while, like, the greater than symbol versus the less than symbol. That is the greater than symbol. On the top line, greater than 17%. What that equates to, if you do the math off of our current guide on the revenue side, is if you start at the low end of the guide, you're gonna get to $2.75 billion. If you go to the high end, you're gonna get to $3 billion. Okay? We actually didn't architect it that way. We've got our two finance folks here. You guys know Greg Shufelt. Wave, Greg. Some of the analysts have talked to Greg and Stephanie Everett. These two folks do a very detailed bottoms-up three-year plan with all of our organization. We got there, and you can kind of figure, assuming you're big LNG. I think lots of different ranges on big LNG in any given year, but it's more, and it's higher than I would've told you at the beginning of this year. I think we have a good number here that we think that is highly achievable, and my confidence level in this three-year outlook is very high. With that, let's take questions. If you don't mind, let me get to you with the microphone. Just to remind those online, please just email me, wade.suki@chartindustries.com if you have any questions. Start with you, Eric. Thanks. Hi, everyone. Question for me, just on the long-term targets, maybe thoughts organic versus inorganic. You know, if I do the math, it looks like you get there pretty much all organic. Is that how we should view it? That's how you should view it. Anything that we might buy in the future from now on is on top of this. Thanks, Jill. Digging in sort of again on the three-year target, you have the 17% CAGR. I was just kinda doing back-of-the-envelope math, and I get about half of that comes from the big LNG. My question is, if you have $7.6 billion of near-term addressable market from specialty, even if you have a low hit rate there, it should be a lot higher than 17%. Am I wrong in my math? The high level of confidence is what's shown here at 17%. The greater than is where we're saying, "You guys figure out what percent of that capture rate do you wanna layer into that three-year outlook." We feel very good at the 17% and above. I think that there's a great opportunity to be higher than that, and there's a lot of things that we've talked about that leverage the pull on getting there. I feel great about this, and this to me should be viewed as the threshold, hence the starting little signal ahead of that. Same applies on the earnings side. Jill, on the IPSMR technology and that mid-scale, small-scale LNG market, there seems to be some growing momentum. You mentioned, or you had a press release today that mentioned a floating LNG facility. You talked a little bit IPSMR with an international client looking at it in your conference call. You've got the fast LNG projects. Could you maybe talk about what's going on in that market in terms of customer demand and any anecdotal commentary that you have? I'll start us off, and then I'll have Belling and Ducote chime in if they want to. It's definitely. I would say the floating side has been the sleeper surprise. That's something that we'd have one or two periodically in the mix on the floating side, and now we're seeing a lot of activity in the U.S. Gulf Coast, also in, as we announced this morning, the South Africa region. I think that it's also being viewed as a unique answer because you can move it, so that's helpful. There's numerous floating LNGs that we're currently quoting on at various different stages of design through pretty darn close to getting the order in-house. The other thing I'd say on the small scale side that we're seeing non-floating, so onshore applications, are the movement to do more than one at a time. That is something that typically you'd see one, and it's gonna be done by one operator, and then maybe in two or three years they might do another. Even just of the last couple of weeks, we had one operator that we know we've won one. We haven't booked the order yet. It's just waiting for them to release us on it. They came back, and they said they might release us on two. That's the type of thing that we're seeing more and more of. I'm very excited about the international IPSMR opportunity 'cause that's really for more of the modular mid-scale. That's outside of the $10 million-$30 million on small scale. This is more in line with what you'd see on the U.S. Gulf Coast. I think. Doug, you know, you tell me, I would bet that when that moves ahead, I think it's a decision point in the next 12 months on the international IPSMR mid-scale. Yes. I think we'll see movement easily within the next 10 months or so. The other thing that we'll see, and we're seeing it as we speak, is we're getting paid to do these proposals, to do these studies, you know. Pre-FEED and FEED work is all paid work. It's not costing Chart anything. We make money on that as well. Of course, if you don't do the FEED and pre-FEED work, you won't get the equipment in the end. It's a heck of an indication of what's to come. Typically, what you'd see there is if you get the pre-FEED and the FEED work, then you gotta do something silly in that process to not ultimately be the winner in the long run, assuming the project moves forward. Jill, hey, how are you? I guess a couple of questions back on the financial targets. Number one, when you say include big LNG, you're including just what's in backlog, or you're including, you know, what you expect to book in backlog? I'm just including what's in backlog with the Cheniere project in full. Okay. No Driftwood? Correct. Okay. Then, you know, the targets here, when we think about the margin target, I think and everybody's probably pretty comfortable with the revenue target. Can you walk us through, you know, how you get to the 33%-36%? Is it, you know, pushing price, more cost out, better fixed cost absorption? Like, how do we get there? All of the above. It is. We do anticipate that we'll be able to hold some price. We've just stayed, you know, on par with the cost side of things in the current state in the near term, but as we anticipate some of these unusual costs that are happening in the world right now temper that we'll be able to hold on to more price than we would have pre all of the last two years of activities. The second element is around some of the automation and robotics that you heard in the shops. That's dual. That's labor, but also opportunity for margin increases, which is, I would say, out of the buckets, that's the third tier. Running capacity through these shops, volume helps a lot. The fourth element, which is the mix shift. The higher growth are the higher margin pieces of the business as well. Hi, Jill. My question is on the carbon capture market. How do you see the commercialization of that developing? Do you see a similar pattern to the hydrogen market, or is it gonna take longer on the carbon capture market? Yeah. I think it was a year ago that I guessed it was gonna follow the hydrogen market a year ago, and it didn't. Take this with you know, Jill's ability to estimate here. With that said, we are starting to see much more traction. I'm gonna answer it in two parts. You heard from Amy today. I would say we cannot keep up with the demand that Amy's Earthly Labs business has for the small scale CC opportunities. That's a matter of us getting more CCs in-house. Amy had that outsourced, and now we're bringing it into our own flexible manufacturing facilities, and just churning those through is how we're gonna get that revenue through faster. On the industrial carbon capture side of our business, I think we are seeing that, you know, May of 2020 was when we're gonna start our hydrogen to get commercialized and start to take off. You know, we are in the month of May here, two years later. We're seeing now we're starting to get paid to do work on the industrial carbon capture side. That wasn't the case two years ago, 18 months ago, when we acquired SES. It was primarily R&D and development and maybe a study here, study there. Now we're getting paid for not just the study side of things, but actual implementation of projects. We have a handful of things in the pipeline. I'd expect that we get a couple of decent orders here in the coming two quarters, and decent orders being kind of in the $1 million-$10 million range for demonstration scale plants. The other thing that's interesting that our customers on the SES side of the business are telling us, we have a 1 ton per day demonstration unit, and we're gonna have a second one here within the month. The customers actually are willing to pay us a decent amount of money to have that demonstration unit come out to their site for a week or a month. We're starting to take advantage of that, and we're gonna put those demo units into play, because the feedback after the customers have them is, okay, let's now get going on actually doing the engineering studies that Doug's talking about. We're seeing ability to commercialize in a different way than what had been happening a year ago. We should have a couple of carbon capture, at least, strong leads here to talk about at the end of this quarter. Hi, Jill, over here. First, thank you to you and the team. I know a lot of hard work goes into these days, so appreciate all of that. Maybe first question just on the financial targets. We're all kinda doing our own back of the envelope math here, but can you help maybe put some brackets around SG&A? Obviously, you're gonna be making investments here, and then maybe, you know, the cash you generate, what's kinda the assumption on the share count there, as you think about going forward? I don't know if you're deploying any cash 'cause looks like your leverage is coming down, but just wanna make sure we know what's in the number. Yeah. Okay. Let me take the second half of the question. Share count, basic share count right now, 35.83 million weighted shares. We would anticipate that you come back down a little bit when the convert settles, which is November of 2024. That'll pull that down to where it was before, which is kinda 35 flat-ish. Could be, I think it was 34.8 technically. That would be the assumption on the share count. Then with respect to cash, we actually are included in this number, talking about deploying cash through some of the organic CapEx that you've seen here today, as well as a couple of these inorganic opportunities on the horizon. The big LNG cash flow allows us to still achieve net cash and make those investments across this period of time. On the SG&A front, our current SG&A levels, you know, kinda $220 million is the assumption there. We anticipate that gets us ish with normal kind of cost of living adjustments over the course of the coming few years to about at least $2.4 billion-$2.5 billion on the top line. Then incrementally from there, you'd probably add about $25 million for additional volume on top of that when you tack on these new facilities. Great. Thank you. Maybe a question around the business. We were actually having this conversation earlier in the morning around kinda first of the kind versus the ability to maybe standardize product. When you think about what the customers are asking for now, are you seeing an ability to kinda, you know, make things more standardized so that customers don't have option one through eight, but maybe one through six, and that's a way to help, you know, improve the margins over time, but anything there would be helpful. Thank you. Absolutely. I'm gonna answer it, and then I'm gonna ask a couple of my team to chime in. Absolutely is the answer. That's not just around cost. It's also around speed. A lot of what we're hearing is, tell me how fast I can get this solution. We have a standard series of small-scale LNG plants that are off the shelf, and those can range anywhere from 100,000 gallons per day to basically what you see on the 1 million ton per annum type of size, including the floating, the FLNG. We have a standard 10, 15 ton per day liquefier for hydrogen. That's a meaningful new thing. We had to develop that over the course of the last couple of years. When you start talking about that, you're really getting into not just the equipment manufacturing, but also the engineering and the design work that goes into these. You can get a lot more throughput through Doug and Brian's groups by having that standard, off-the-shelf design. When you get into the component level, so let's talk about like a tank. You even see this on the trailer side of things, where we can standardize a bottle, the middle of it, and then you can customize where, you know, customers want valves and input points at different spots. That's a very small percent of the total manufacturing. Having the throughput and the standardization in these flex manufacturing facilities really goes together. The same goes for, like, skids. We can standardize skids. Skids are used in a ton of our applications. Let's make all the skids in our flex locations, do them the same way, make them a standard shape and design, and that's underway. You see that across the board. We're in early innings on that. There's a ton more opportunity for us to go after in that space, and that's gonna be helped a lot by some of these expansions that are in flight right now. Anybody else wanna add to that answer? Standardization? Joe, Joe Belling from your customer base? It's a balancing act, I would say. You know, our mantra is we always try to find a way to say yes to our customers. That doesn't always mean we agree to exactly what they want. It means that we find a way to meet their need with our product offering. A lot of times that is around offering some sort of a more standardized product. One of the other things I would emphasize too is what Jill touched on, is with skid manufacturing or putting things on skids. Being able to provide a standard LNG plant that is built on skids in a controlled environment in one of our factories goes a long ways towards standardization versus doing a custom one-off field-built installation. That's kind of how we think about that. In regards to, you know, finding ways to say yes, but doing it in an efficient manner that standardizes our product line. Thanks. How do you think the TAM ultimately plays out and translates into 2030 revenue targets on an annual basis? And what's a reasonable capture rate there? Just you have a lot of different end markets that are gonna have different capture rates. I would say if you go as a whole. Well, let's take hydrogen. That's the largest of that addressable market category, so $25 billion. Same comment I made about how the order book has played out. We anticipate about half and half between liquefaction process and equipment. On the liquefaction process side, 60% capture rate on that. Then on the equipment side, I'd put it more like kinda 30%, ish, because there's more entrants on the equipment side of things. In food and beverage, in cannabis, in molecules by rail, a much higher capture rate and space because there's just not as many folks that can do it or are in it or trying to be in it. Water treatment, I'd say that's a 30%-40% capture rate because of the way we've built that market up. That total addressable market does not include some of the larger projects that you would see the Xylems or the Evoquas of the world going after. Very, very high% capture rate of the total 42 and change, going out to 2030. The hydrogen side, I think, just continues to ramp. I think water and carbon capture have a steeper second half of the decade curve. Maybe just a quick one on free cash flow. No explicit target, but you do expect to be free cash flow positive. Double-digit free cash flow margin are reasonable. Yes. Got more. Okay. Yeah. Absolutely. Yep. Maybe I'll hone it in higher. Certainly, mid-teens or higher. Yeah. Hey, thanks, Jill. You know, clearly there's you know, lots of things happening in the natural gas market where we stand today. They were happening before the Russian invasion of Ukraine. Clearly, they're accelerating. You mentioned you're on some sort of committee that's looking to address LNG. Thank you for the slide on the LNG receiving terminal. As we think about kind of that you know, one, two, and I guess within your three-year target. As we think about these kind of, you know, rush projects, whether there's receiving terminals or more liquefaction, beyond what's on the books, what can actually get done realizing that things take time to address sort of this shortfall that, you know, most of people that are looking at the natural gas market and thinking about Europe are really right in everybody's face. Yeah. We've built, I would say, like, a modest amount into what you're seeing here. I think to Ben and Chase's point, there's definitely upside across the board in terms of what we're talking about. In terms of the near term on that, you heard, I think it was Joe BE say, typically, the import terminals, as an example, will be 12-18 months. We could do it in nine to 12. That's the short end of those types of large or small. What we're hearing is two things, in particular from the EU governments, is number one, I gotta address next winter, and number two, I gotta address the longer term, and they are not moving off the sustainability mark. Nat gas is a solution. It's gonna be here. It's gonna be part of the answer. Then they're also saying, "How do I do this, do it effectively, but also continue to think cleaner and greener?" There's things like ISO containers and ability to move. You know, the number one thing is getting gas, so that's not in our purview. We're not the molecule handlers. Let's just assume that they can. Then you're either saying, "Okay, I'm gonna do FLNG." I think it was Estonia was talking to us about, "I'm gonna do a floating something. I'm gonna do a floating platform." I don't exactly know what that means, but I need to get going on that. Getting that in place at the same time as, "Okay, help me move the gas around my country for next winter." That's where we're seeing that equipment side of ISOs, of trailers, even fueling stations, I would say, are not softening by any stretch or are continuing to build because I think the idea being that infrastructure of moving the molecule is the near-term answer. We're gonna get some of these floating platforms, regas going for the medium term addressing that. Okay, great. Just on repair and service. You know, clearly you laid out that interesting case where, you know, this is a way to take assets off of companies' balance sheets. You guys can kind of hold those. As I think about that, do any customers, when you offer your repair and leasing solution, are they like, "No, we just wanna buy it outright"? Like, is that something where they wanna own it, and they wanna control that? And if there is this nice opportunity in leasing, it seems like it's a lot in things like hydrogen trailers and et cetera. Like, is that something where we could see Chart, as that business grows out, maybe go after like a green bond? Is it something where we're gonna do it, but it's not really gonna be a meaningful piece of the business? We've strategically spent a lot of time determining what we would put into the leasing fleet, and part of that was around ensuring that we weren't cannibalizing original equipment business. That's standard equipment. To John's point, it's stuff we can do standard, we can resell, so there's not a worry about that it's something unique to a customer. Mobile units, standard tanks, and trailers are kind of the bread and butter sweet spot, and ISOs fall in that category. Those are really the four main product categories that are in our leasing fleet. Anecdotally, I can tell you that we have had very, very few leases come back at the end. They do like to buy them. Yes, at the outset, there are some customers that just say, "I don't need the leasing option, I'll just buy it." We offer both of those. We were quite pleasantly surprised at the customer base that buys original equipment is also leasing from us. Part of that is around the way that those customers have a budget, a forecast for purchases, original equipment purchases, but they might need an asset, and so we're getting the best of both worlds. In terms of meaningfulness, right, we had $1 million of leasing revenue in 2020, and we had $50 million last year. It's we expect it to continue to be a meaningful part of the business. I'm not sure specifically to the green bond question that I would say yes or no to that, because right now we're able to build the fleet ourselves and finance it ourselves, and that's part of our strategy is not to have others in the mix on that. Hi, Jill. My question pertains to the shipping industry, and it's two-pronged in a sense. One, do you, and how do you anticipate hydrogen being shipped? I'm seeing commercial developments around switching to ammonia and methanol back and forth, but it seems plausible it could be liquefied and put on the ship. The second part is, in terms of shipping fuel, are you seeing more solutions today or in the near term for using methanol as a fuel source? If so, could that expand the hydrogen total addressable market? Because you could, in theory, convert it from hydrogen to methanol. Yeah, I would say we have zero marine in our hydrogen total addressable market because it's still kinda early to tell. Douglas Ducote, talk about the pros and cons of ammonia in the marine applications. Sure. Well, I guess starting with the con here, ammonia is very toxic and we think there's a lot of resistance to using, you know, to shipping ammonia in large quantities. The other thing that it's toxic to humans, of course, but it's even more toxic to marine life. We think that's a big issue. If there's a significant spill of any kind, maybe not even so significant, gonna have a marine life disaster on hand. The other thing we believe and we continue to do research on these different methods of shipping hydrogen, by the way. What we see in the literature is the folks that are sponsored by the hydrogen group are you know saying hydrogen is the best way to go. The marine folks that are in the ammonia business are saying they have the best way to go and the same thing with methanol. We're seeing all these different things. I think if ammonia has to be cracked to mean the nitrogen is separated from the hydrogen in order to use the fuel, which is the most likely thing that will happen, then the total energy consumption to create ammonia, ship it, and then to crack it again so that it can be used is going to be a good bit higher than just shipping you know shipping liquid hydrogen. The same thing is true, maybe even to a larger extent with methanol. Now we do know that some folks are trying to develop engines that can run on ammonia, and there's some opportunity out there maybe to have dual fuel capabilities. I think that might have some application that avoids the cracking of the ammonia requirement. Right now, we're not seeing anything that has us very concerned that liquid hydrogen will not win the day in the end. That it's the molecule is there, we can liquefy it, we can transport it. There's an ammonia ship out there right now that I think Shell built as a trial run, you know, transporting liquid hydrogen. Did I say ammonia? I meant liquid hydrogen, sorry. Works well. Right now we're thinking that's probably the way the industry is gonna go. Really more to come as engine developers do their thing. The other thing that everyone is concerned about is the NOx emissions from burning ammonia. It's pretty clear that NOx emissions are gonna go up substantially, and that's gotta be treated, that's gotta be dealt with. It's not a hands-down winner at all right now in our minds. At least we're not seeing that it is. We're agnostic to it. See how it plays out. The marine space in general, I would say, you know, you saw this with IMO2020, is there's options but nobody's really kind of a first mover, in terms of speed there in that market yet. The one advantage that ammonia has, by the way, it's, I should've said that to list the pros and the cons, is, you know, ammonia is liquid at something like, -33 degrees Fahrenheit. It's a little bit warmer even than shipping propane over the ocean. You know, all of these tankers have to be, the product has to be refrigerated to the point where it's at very low pressure, it's at ambient pressure. So ammonia has an advantage in that it's just not as cold. That's probably the only advantage that I can think of right now. Not a trivial one. Hi, Jill. Couple questions. First one, I wanna return to LNG that may not be included in the growth guidance here. You said the only thing that's not already booked that's included is Corpus stage three. If I'm not mistaken, you booked a little bit of Plaquemines' phase two. I should have included Plaquemines phase two. You include the whole thing? Yeah. Yeah. Okay. I want to clarify that. Yep. The second thing relating to this, you know, NFE announced that well, they have a filing for 2.8 MTPA in the Gulf, and they just announced that they're looking at a pre-filing for another 6 FLNG that would be a total of 8.4, if my math is correct. I mean, that's just one example at one company. With NFE, how much are you including on this? And is there substantial upside? I mean, obviously, if they got this whole thing, that's like another Plaquemines or something for you. That's correct. We're not including all of that in the outlook because obviously it's kind of a wait and see in there. We include in the three-year outlook on NFE a total of five FASTS, three of which we've booked already. My second question is on product diversification. I mean, two to three years ago, the market was still concerned about Chart's cyclicality. I guess I wanna throw out, you know, just as an example, two product lines that seem to me like they're kind of filling in for each other. Like this year, HLNG is falling off for a number of reasons you've alluded to, but all of a sudden, rail is picking up. I guess what I'm trying to get at is do you feel like you have enough legs on the stool that not only is there. That basically the cyclicality is largely gone and that we're gonna have growth. Now, maybe some years will be, you know, whatever, 20% growth, in some years, you know, 12, whatever. It's variability around a steady, you know, line up. What we had in years past, you know, like five years ago maybe is not gonna happen again. I feel very confident in that answer. Yes. Even when you see which there, like you said, there will be years where it's less growth than others. Even as we contemplated the scenario of one of these larger export terminals where there might be a gap year or two, there's so much momentum on these, what we would say, medium-sized for us. The $10 million-$50 million projects, that the speed with which those are happening and our content as well as how we're positioned in these markets, we feel good that that is a line. It's not a sine curve anymore. That was a key part of an outcome from the strategy that we've put into place. combine that with, you know, high-growth specialty, more and more of these small mid-scale projects, and then the big projects. It's a really nice soup you got going. Jill, not sure if this is for you or Amy. One of the big themes today has been selling across the organization, Oceans Eleven and stickiness with existing customers. Amy, as you think about CiCi and Earthly Labs more formally, given the modular nature of the solution technology, are there applications in buildings, thinking HVAC, indoor air quality, things like that? Yes. We in fact, the origin of Earthly Labs was in built structure, small buildings and homes, and so we're excited with Chart's investment to go back to that origin. That's why that inbound inquiry, which we get, you know, dozens a day around that for multinationals is exciting because it gets us in that built environment, post-combustion with small-scale carbon capture. What we didn't have that we now have with Chart is the access to their existing network of distributors who can play a pivotal role in taking that molecule and helping us convert it, sell it, pick it up. That's Again, we came here from the distributor meeting yesterday to talk through what that vision of future carbon capture looks like and how we, you know, make the pie bigger for everybody. Cisco, I would say on top of what Amy just described, Amy and I refer to it as residential, but I think building is a better way to describe it. That was actually one of the key elements of our strategic agreement when we closed the deal, was that we would develop that as the next step in the commercialization. We have none of that in this three-year outlook because we think that we probably launch that in 12 months-ish, might be about right, and then you gotta get it commercialized from there. We see a massive market for that. The studies that have been done on the residential side, you wanna talk a little bit about the feedback that you've gotten from the market? Yeah. Again, this was the original inception for Earthly Labs, and what we know is similar to the sort of Tesla model. There is a ready market for people that wanna invest in carbon capture for their home. There's high demand and not price-focused. You see in the commercial markets more need for fast ROI. That presents opportunities for innovation. A lot of what we've been doing, again, small scale, even small scale brewery from a technical perspective, we are operating at, you know, well below like 0.05 PSI, so very low pressure that gets you close to a direct air capture concept. Those are things that we've demonstrated technically but haven't commercialized a solution for the marketplace. Again, with Chart's amazing engineers and ability to innovate and build things, we're excited to open those new markets in the coming years. Hey, Jill. Just going back to the expanded kind of big LNG opportunity set. The number of projects you expect to move forward by 2024 has more than doubled from 10 to 22, but it looks like the Chart order potential has actually more than tripled. Is it just simply that these incremental projects are just getting bigger or are more expected to use your IPS and MR process technology? If you could just speak to the expanded order potential, please. Definitely. Obviously, just the number of them have increased, as you point out. We also have expanded content as a result of a lot of what we've done over the last three years. That ranges from air-cooled heat exchangers previously. In the last four years, we acquired the Hudson air cooler business and then the Harsco air exchangers business. Both of those have certain application uses in the LNG arena. Some of those we previously wouldn't have had content that we've now gained a lot of traction in the last 18 months on, and some of them even in the last two months. We're also seeing more scope opportunity on projects that previously wouldn't consider switching process technologies, and that's something that gives us a lot of meat on the bone, meaningful movement on that side of things. Again, all the processes that are out there, they're all fine. They all work. Right? It's just sometimes it's a matter of preference, other times it's a matter of plot space, as you heard Brian talk about. Other times it's a matter of getting more LNG for the same amount of engineering work that you have in the same construct. I'm very pleased to see more and more customers, potential customers looking at utilizing the full solution versus just an element of the equipment. That's probably the number one change in terms of the dollar increase. On the small scale side, the number didn't really go up dramatically in terms of total potential dollars, but the certainty of more of them coming in and more frequently is probably the key message on that side of things. As Marty asked, we're seeing more and more of this floating. If I were a betting woman, which I am, I would say I think we're gonna see more and more of that concept. I earlier in the presentation commented about why I like the future of space exploration, right? I mean, we've got space customers that are talking about doing floating liquefaction on their own next to their other platforms. I think you're gonna see more floating in the future. But yeah. Yeah, I'm really pleased with this concept of LNG customers are seeing this as a total solution versus I'm just buying a heat exchanger or a tank. Hey, Jill. Question on you mentioned the hydrogen liquefaction, sort of the increase in the interest there. I'm, I guess, two questions really. One is that more sort of super niche-y applications right now, or are you seeing it sort of more broad? If it's more broad, I'm thinking sort of long-haul trucking, kind of what's happened there? Because at one point, the economics of liquid versus compressed were pretty different, and that pushed people to compressed, except maybe for, like, super long haul. Has that math changed, you know, markedly over the past year, so people are looking at it differently? Yeah. Yeah. The math has improved on the liquid side, but those folks who previously were gonna attempt to do this with gaseous are realizing it doesn't work. Like, you can't go. When you say super long haul, you can't even go regular long haul using gaseous hydrogen effectively without refilling, without all kinds of other challenges, power challenges, you know, amount of speed, same size trucks as you would normally have today. There's a lot of qualitative changes that have happened in the market around going from two years ago, where everything was kind of dreamers, and I'm gonna do this project, and I'm gonna use gaseous, and it's gonna be green. Well, now the folks who are actually buying stuff and putting it in place have come back to reality and said, "I actually can't do that way. It won't work. It has to actually work and get accomplished." That's probably a qualitative thing I would comment on. In a second, I'm gonna have Joe give some more anecdotes about what we're seeing in the pipeline. The customer base and potential customer base has grown into a broader set of what they're doing with the liquid. That's a plus in for us because we hit many more customers than just a few. I think I commented last week that the number of customers in the hydrogen arena, that individual customers that we've sold to, it was up 70% in the last six months. That's kind of a testament to your question, which is, last year, there were a couple of buckets of hydrogen customers, industrial gas guys. They know hydrogen, they buy equipment from us. It's on our long-term agreements. The second bucket being the hydrogen pure plays, so your Plug Power of the world that that's their business. That's what they're gonna do, and they're doing it to build it as fast as possible. Now we're seeing those two buckets still in play, and then you have utility companies now talking to us about, liquefaction. One of them we just met with a couple weeks ago that is thinking of doing two 30-ton per day liquefiers. That would be initially as peak shaving with the concept of eventually I'm gonna figure out how to maximize my blending approach. Then the last bucket being kind of the dreamer folks. Those guys are coming up with creative infrastructures and hydrogen hubs, and they wanna have a play. Generally, it's regionally, regardless of what country they're in, and they wanna have a construct of liquefaction and then also the infrastructure associated with it and create that hub. Typically, in the United States, it's by the water, by the Gulf Coast also. In Canada, you're seeing that happen in Quebec as well as in British Columbia, so your coastlines. Those guys are starting to get funding. That was one of the delays that was in play over the last two years. Joe, any other color you wanna add? Yeah. I think you hit the high points, Jill. You know, one of the other things that we're seeing too is when somebody wants to build a hydrogen plant, typically, they're gonna have on-site use of it, right? They're gonna put that facility in play, and maybe it's say, it's a 30 ton per day hydrogen generator that they're gonna have. They'll take that gas that's coming off of that and use it on-site. But they're gonna also take half of that or some portion of it, and they're gonna sell that outright to another user somewhere. Really, the only efficient way to move that hydrogen from one point to the next is to turn it into liquid from an energy density standpoint. Just along that hydrogen hub aspect that Jill highlighted is a concept that we're seeing being very popular right now. Thanks. Kind of following up on the liquid hydrogen question as one question. Expensive, right? You lose a lot of energy in doing it. It just costs a lot of money to do it. Where are we on the technological side in terms of advancing on getting those costs down? Is that something that falls inside Chart or something you're waiting on somebody else? And then my other question was, on the carbon capture side, we see a lot of times, if you add on carbon capture after the fact, it's a very inefficient process relative to integrating with the new build design. Didn't talk a lot about integrating with the new build design here today, so I was just curious, where are we on that front as we think about, you know, some of the 2030 TAM and all that? Yeah. The second part of your question, we actually would say that a lot of what we do in LNG facilities, we think through the ability to add carbon capture later. I'm gonna have Doug talk to what that is, how that works, and where is it easy to do and where is it less easy to do in a second. First part of your question, around just the cost of hydrogen production, it really is the production of the molecule. It's really not in Chart's purview where the majority of the cost is. You can think about we say this on LNG, the same really applies on hydrogen, where in LNG, the core equipment that we offer has to work, but it's really 5%-7% of the total cost of the project. If it goes down, it doesn't work, that's a really big negative dollar amount. The key cost, I think in my opinion, would be like the electrolyzer side. You need some innovation there, less so on the liquefaction side. You can actually get a hydrogen liquefier from us very similar in terms of scope to our small-scale LNG offering for a similar price point. It's not a big delta there. What we chatted about, you wanna share that on the carbon capture retrofit to LNG? Sure. I'd be happy to do that. One of the things that I pointed out in the presentation, though, is that the cryogenic carbon capture process from SES is more easy to integrate into an existing facility, by the way, than some of the other technologies because we're not messing with the heat balance and mass balance around the steam system. We're just using some of the electricity to create the refrigeration. That is one advantage that we have. With respect to carbon capture at other facilities in LNG in particular, it is going to be difficult to do carbon capture when the facility is a gas turbine-driven main compressor facility. That's because there are just, you know, 10 gas turbines in our modular design. There's 10 gas turbines in anyone's design, by the way, because pretty much everybody's using similar gas turbines to drive the compressors. It's not easy to do. What we are seeing is a change to electric motor drive for the main refrigeration compressor and a combined cycle power plant generating the power. They're buying power from the grid where the power was already coming from a combined cycle power plant. The benefit of that is that you have a central location for the flue gas, and you can treat the flue gas much easier in a central power plant. The other part of that is typically these gas turbines for the power plants are larger gas turbines. You know, they're 500 megawatt machines instead of 50 megawatt machines on the mechanical drives. So again, you have a more concentrated source of CO₂ that you can treat at a facility that's outside of the liquefaction train itself. You can add in carbon capture in those locations. So I know a number of our customers have talked to me about this and are saying, "You know, I wish we'd done that at the start," type of thing, for that very reason, the ability to capture the carbon. One more question on the long-term financial targets here. Just thinking, basically, we're talking about an incremental $1 billion of revenue, and given the margin targets are higher, it doesn't seem like you're adding a ton of operating costs and also not a lot of CapEx. I guess the question is either that incremental CapEx that you are talking about is the best money you've ever spent, or you have excess capacity right now. I'm just curious if you could sort of walk us through how you have the capability to deliver that much incremental revenue. Yeah. I mean, we do have some locations right now that still have open capacity. On top of that, the addition of these ones that are in flight right now, plus the few that I talked about today, certainly allow us to do that. A lot of that too is around this concept of the flex manufacturing that we've talked about in moving the pieces and parts around. What used to be a tank shop, and that tank had to go from metal input to output. Now we've optimized, and again, we're still in flight on this. A lot of this is underway. We've optimized how those pieces and parts move between shops, what shop makes a lot of sense to do that. We have... I'd also say back to the first part of that, we do have excess capacity at L.A. Turbine. As part of the deal, we actually expanded the lease space, doubled it to the portion next to it for that concept of flex manufacturing. The Tulsa consolidation gave us 500,000 sq ft of flexible space that we're, as you hear me talk about, moving into. We have the same happening in the EU from locations that have excess space at VRV in Italy, where we've moved optimized product lines to other locations there. Through what we currently have CapEx-wise in flight, the open capacity that's in our existing footprint, and the new two or three that I commented on today, we're highly confident we can do it. Unless anyone has any other questions, we might have a couple more minutes. Otherwise, we can adjourn. It never works that way, by the way. 7:30 A.M. to 11:30 A.M., and we actually ended on time. On time. Hey. Well, thank you all for joining us today. We really appreciate your time and attention, and any follow-ups, Wade or myself, can take them or get you to the right people. Safe travels.