Good afternoon. I would like to welcome all of you on behalf of the SPI Energy team. I'm Randy Conone, the CFO of SolarJuice and Head of Investor Relations for SPI Energy. We are pleased to hold the first SPI Energy Investor Day, and are very excited about the immense prospects for the company's solar and other green energy businesses over the next decade. Now, I would like to turn over the presentation to our Chairman and CEO, Denton Peng. Good afternoon. Thank you for everybody joining today's, our first SPI Energy Investor Day. My name is Denton Peng. I'm the Chairman, CEO of SPI Energy. I'm really very honored to welcome you here because it's the first time we do the Investor Day. Listening to an investor, they say you need to make Investor Day to invite the investor to join. Ayah, Thank you. I think that now we finally have our first Investor Day. When I listen to the part of the investor just a few weeks ago in Oaktree, they say they're only in their first day of the other company, they now have 30,000 investors coming. In the first half during Investor Day, only have 3. I think, hope we have more and more maybe to show our what we are doing here. Today is a very exciting. Next page, please. Yeah. Oh, sorry. Okay. Go ahead. Okay. Sorry. Our vision is to build a great renewable energy company. Myself have over 20 years experience in the renewable energy sector. Normally the big industry for renewable energy from the energy generation, energy transport, energy consumption. What are you doing? With my background of last 10 years in the energy, in renewable energy sector, we have a linear resource to find a way, a sector that have a potential, big growing potential in the future. This is what we are doing. We want to find some sector that have big potential, growing sector in the renewable energy sectors. Business. SPI Energy had when we're starting this company, 2006, in Roseville, just a few miles from here, a company called SPI Solar. SPI Solar is starting as a solar developer. Why the company want to now grow in a renewable energy company? I mean, we see the last 20 years when we started to produce solar cells at $8 per watt. Today, we see that solar cells, we can easily now sell about below $0.50. We can easily produce the electricity. 10 years ago, we say if we can produce the electricity, less than $1, it will be dream. Now, after less than 10 years, we see our electricity cost, production cost building from $1. Now, we see in many areas like Texas and mainly in California, we can produce electricity costs less than $0.02 or less than $0.03. This we are seeing. We are seeing a huge potential that we want to build a renewable energy company. This is the portfolio we, what we have select. The first company we develop is called SPI Solar. SPI Solar is starting to develop solar projects starting from Hawaii, California. This is why we have a very strong pipeline in Hawaii because Hawaii has, in that time, a big incentive program and the same for California. The company starting to grow into other markets like in Oregon, Massachusetts, Illinois, Maryland. SPI have a very s trong pipeline in cross the U.S., which we develop starting from seven years ago, five years ago. This asset become a very huge return for the shareholder and for SPI. Recently, we have signed some big contract to selling some portfolio to like a big fund, a partner like AES, Brookfield. For Hawaii and Oregon projects. Second portfolio we are doing one today. Later today, I think our SPI team, Jack Lee and Kevin will give you more detail about SPI. Jack, could you show up? Hi, Jack. Yeah. Thank you. Now I want to introduce our Orange Power. Our Orange Power is our platform that produce solar electricity to the grid. Normally, we try to have a 2 years or 25 years of power purchase agreement. When we do a project, we found some project like Hawaii, we sell the grid at the price of $0.26, $0.28. When we do some project in Greece, in Italy, UK, for example, Greece, we sell electricity to the local grid at EUR 0.28, EUR 0.26. Sometimes we better keep this project and have a stable cash flow for next 20 years and, or 30 years. You will see the company have invest more than $100 million to build a very strong pipeline portfolio in Greece, Italy, United Kingdom and Hawaii. Of course, later on, our Orange Power team, Paul and Vassilis will give you more detail. Paul, if you show up. Hi, everyone. The three reasons we are performing we appear low is SolarJuice. SolarJuice is a leading distribution solar company in Australia. They are starting to promotion the Tesla Powerwall in Australia. Their one of the first, now also largest Powerwall distribution for home in energy. I think also now this company have been profitable growth for last three years. This quarter, in just recently, they're doing the best ever quarters. I think SolarJuice now continue growing one of the leading brand, have a reputed brand in the country and also from Australia growing to New Zealand and other market. The founder of SolarJuice, Rami and Andrew, also presented here. Rami and Andrew can show. I think later Rami and Andrew will give you a bit more detail about SolarJuice. I know Rami personally when he's starting the business from BP Solar. I see some picture when he's very young. I think now, of course, he says so we have, we now building very strong relation to building this SolarJuice out in Australia. Most importantly, another business we call Solar for America. This brand have been existing for in U.S. last two decades. If you see many building, it's like for like Fremont, like San Francisco, you can easily see they have some building called Solar for American buildings or essentials. We rebrand this brand to a module manufacturing two years ago. We're starting from here as a here to manufacturing the module. Solar for America have become the largest solar module manufacturer in California and also the leading manufacturer, Second largest in the nation. This company already been profitable from quarter four last year and continue growing the profits in the sense for the Inflation Reduction Act of the bill passed by August. I think later the CEO of the Solar for America HK will give you more detail of these companies. All these business is profitable business, but why you see the company still in last few years is lose money. We are in the meantime, we try to doing growing the future. We also have some business we are now doing the growing business we call. One of the business, our EV business we just acquired three years ago, called Phoenix Motorcars. Phoenix Motorcars is now one of the leading EV commercial working company. Now we already have four million miles, driving mile. Not like many other EV companies, still zero startup, but this company already have many EV on the road. Secondly, what I want to introduce is that on this very potential is, today also we'll show you our colleague, will show you in the Folsom, the final asset of the RBG fuel cells manufacturing facility in Folsom, just 30 minutes driving from here. Originally at EdisonFuture, we designed the next generation of a pickup one with solar-powered and also with the EV hydrogen to power together. We call hybrids. Later on, Dr. Yang Po and Dr. Chen will give more detail about our green hydrogen business later. This is the most interesting story. As a founder of LDK, the largest solar wafer company in that time, 15 years ago, we are about involved the largest supplier for the global wafer market. We starting to think of building a solar wafer factory for U.S. We starting from last year. We are now at all our facility design process in progress in Sumter, South Carolina. We will now hope to build one of the first largest solar wafer company in the United States for the new technology. Thanks for also our one of our key customers, Kyocera, today also send the people come here to share information. Kyocera is one of our, my key customers in 15 years ago for the wafer technology. This is where also we use our some, our cash flow to reinvestment some of our other the business. Over last six, seven years after we debuted in Nasdaq from 2016, we have raised more than $720 million in this business to build this platform. We are think we are well-positioned to build the company to next level of growth, especially the company in the U.S., the manufacturing business. Before we dive into deep in looking at each of these business units, I want to also some key investment highlights of the company. In recent years, we have established solid trend of strong revenue growth that have placed us in a clear path in near-term profitabilities. We anticipate the trend will actually move forward as we benefit from strong industry given including incentive under the Inflation Reduction Act in the U.S. I think later on, Randy Conone will give more detail about Inflation Reduction Act, including the module. You later will have facility C. We have a $0.07 grant for every watt we produce in here and also for $3 for green hydrogen production in our facility Folsom can produce. All this incentive program that we are doing that not today, we already invest this technology five year, six year, two year ago to building this platform. This is why we think we are well-positioned in the renewable energy sector in both solar, EV, and hydrogen sectors in here. I think we have assembled a outstanding leadership group that impressive combination of technical expertise, operational efficiency, and strategic insight. I believe this combination of talent will allow us to continue executing our vision to building a great renewable company in the next decade. I wanna also highlight, with our $700 trillion million dollars raised in the last few years, we build the platform, can definitely build the company to next level. You'll be able to hear where also today from many of our top leader today to give a dive deeper into each business. Before to do that, I will quick snap our share of to 2023 outlook. As in April, we report a $177 million revenue in fiscal 2022. This is accepting our guidance, previous guidance. Looking ahead, we also projection $250 million to $300 million in revenue in this year. With the first year, with a net profit of $29 million to $36 million in this year. This is including the $0.07 grant of less module production, and also SPI Solar and Orange Power developments. This included. Of course, we are waiting all this guidance declared this year. As I mentioned a moment ago, I'm joined today by many of our top leaders from our various business units. You will hear from us throughout the remainder of the investor presentation. Thank you for everybody. I also want to introduce our Chief Operating Officer, HK, to you the presentation for the next. HK, thank you. Thank you. Yeah. I think they're all here. Thank you, Denton Peng. Hi, this is H.K. Cheong, and thank you for coming again, and good afternoon. I would like to start the presentation to give you a little bit of operational highlights of Q1 2023. In Q1 2023, we have begun manufacturing and deliver first made in the U.S. M10 solar modules from Solar for America, state-of-the-art, fully automated production line in Sacramento. You will see later on after the discussion here. We have also showcased the make in the U.S. solar modules, including the 550 watt modules. I think it's right here, too. At a multiple trade show like the Community Solar Power Summit and Intersolar North America, and many more. Our Solar for America 550 W modules were also showcased in a 948 kW ground mount C&I project in Ohio that is expected to be completed in June 2024. We have also appointed a leading silicon wafer industry expert as the CTO of the recently formed SEM Wafertech subsidiary. Lastly, we have jointly announced the addition of the newly leased facility in South Carolina to expand the solar wafer and the solar module manufacturing capacity. Now, I'm exciting to share more information with you today about Solar for America, our rapidly expanding American-made solar module manufacturing business. Solar for America began production last year in a 140,000 sq ft state-of-the-art facility in California right here. This cutting-edge facility boasts the latest M10, or we call it the 182 mm cell technology. Which allow us to produce high-efficiency solar module for various markets. To meet the increasing demand, we've recently leased additional 50,000 sq ft of space to expand our production capacity even further. It's next door. We have leased the space next door. Our current annual solar module capacity in California is an impressive 700 MW. With the addition of our 270,000 sq ft facility in Sumter, South Carolina, we expect to get 1.5 GW to our production capacity in the near term. Our customers at Solar for America have diverse needs, so we have developed a wide range of products to serve residential, commercial, and utility markets. Our commitment to quality and safety has earned us a certification from UL, CSA, and ETL, and we are proud to be on the California CEC listing as well. Importantly, our solar module have been approved by multiple financial institutions, including the Dividends, Mosaic, and Sunlight Financial. This partnership solidify confident in our products and enable us to provide accessible financing option to our customers. Looking ahead, 2024, the combined capacity of our California and South Carolina facility is expected to reach 5 GWs, more than double of 2023 that we targeted. As I mentioned a moment ago, our California facility came online in the second quarter of last year, and it has been supplying customers with American-made solar modules ever since then. In April this year, we in fact just announced the addition of a newly leased facility in South Carolina. We expect to begin solar module manufacturing operation at this facility during the fourth quarter of this year. Which will help us to reach our year-end target of 2.4 GWs of production capacity. We will also be manufacturing solar wafer at the same facilities, which work I will cover later in today's presentation. I want now to draw your attention to highlight to our various certification, approval, and qualification that set Solar for America apart in the renewable energy industry. Firstly, the international labs such as CSA, UL, and ETL have strictly tested and certified our solar modules. These certifications are testament to the quality, safety, and reliability of our product. It's important to know that we believe in continuous improvement and strict testing. That is why we are collaborating with the third-party labs, you know, for extended tests on our product, ensuring that they meet and exceeding the industry standard such as IEC 2X, 1X, 2X, and 3X. In addition, as mentioned earlier, we have already gained the trust and approval from the top residential financial service companies, like including Dividend Finance, Mosaic, and Sunlight Financial. This recognition allow us to offer to our customer very competitive financing option for their solar installation, making the clean energy more accessible to home owners nationwide. We are also proud to be qualified, you know, by the government's clean energy incentive program like the CEC and the Florida Solar Energy Center, you know, FSEC. This qualification enable our customers to benefit from various incentive and further promoting the adoption of solar energy. As we continue to grow, so we are actively pursuing bankability for large-scale projects. As everyone knows that we need bankability. This ongoing effort will allow us to participate in even more significant renewable energy incentive, driving positive change on the large scale as well. Overall, Solar4America extensive certification, approval, and qualification demonstrate our commitment to our customer with the highest quality solar modules. We are confident that our dedication to excellence will continue to drive our success in the renewable energy market. I think this slide is, there's a lot of opportunity here. In our addition of a U.S. made solar modules and solar wafer manufacturing's operation was well-timed. With the Inflation Reduction Act expected to provide a strong tailwind for both business line through 2032. In fact, it's 10 years from now. Importantly, the Act provide a robust framework that not only benefit the Solar for America, but also that supports the entire renewable energy sector. A significant component of the Act is the $260 billion in federal tax credit. This tax incentive directly benefit our customers, making solar energy more affordable and accessible to a broader audience. Moreover, the tax credits create a favorable environment and for investment, which in turn accelerate the growth of the renewable energy industry. Another essential aspect of the Inflation Reduction Act is the $27 billion dedicated to accelerated the clean energy technologies, specifically targeting emission reduction in disadvantaged communities. The funding presents a unique opportunity for Solar for America to expand our reach and make a tangible impact on the underserved populations. We are committed to leveraging these resources to bridge the gap in access to clean energy solution and contribute to creating more equitable and sustainable future for all. Furthermore, the Act's long-term commitment to 2032, in fact it's 10 years from now, provide us the stable policy landscape to operate. This extended period of support allowed us to plan and execute ambitious projects. We're confident knowing that we have the backing of the government and a clear path forward. I think this is huge. Overall, the trend is expected to drive domestic solar energy market to $16.9 billion by 2030 as the market reaches a projected 126 GW of installed capacity. The domestic production required to meet the rapid growth is expected to be 50 GW annually by 2027. Right here today we are only 700 MW. It's a huge potential for us. Looking close, more closely, you know, at the tax incentive of the IRA, you know, our domestically produced solar modules are eligible for 40% tax credit, which include the base at 30% and plus additional 10% for being American-made. Our solar modules, this manufacturing business is also eligible to receive a $0.07 per watt of being a American-made solar modules. With the benefit in effect now until 2032. Our smaller solar project also benefit from the IRA and is eligible of up to 70% tax credit opportunity if located in a fossil fuel energy community or selling to a low-income families. Solar for America has quickly become a industry leader in the production of the high-quality solar modules. Our team at our cutting-edge facility in Sacramento is currently producing a range of the output options from the 330 watt modules to a powerful 550 watt modules. A half-cut, you know, 72-cell half-cut modules. With the ability to produce such a diverse range of modules, we are well-positioned and to meet the needs of the wide varieties of customer and industry. 330 watt, 410 watt is being built from our Gen 1 automatic line. In fact, 410, 108 and 550 watt, 144, are being produced out of a new M10 production line that you will see later today. This is also very exciting. Solar4America is embarking on the exciting endeavor to produce solar cells specifically for the U.S. market. Our initial product lines will include the high-performing M10 TOPCon and the innovative M12 HJT solar cell. With the M10 TOPCon series, we are introducing advanced solar technologies that maximize efficiency and deliver exceptional energy conversions. This cutting-edge solar cell have been engineered to harness sunlight and convert into clean and renewable energy, ensuring a greener future. Additionally, we are proud to present the M12 HJT product, which combine heterojunction technology with advanced material. This groundbreaking solar cell offer increasing efficiency and enhanced power generations capabilities, pushing the boundary of renewable energy solutions. A little bit of our channels. Our rapidly product line-up is meeting customer demand in residential, in commercial and utility project applications. Starting with the residential market, our sales channel are strategically designed to reach a wide array of customers. We work closely with national distributor channel, CED, Krannich, SABC, or they have hundreds of branches in the entire U.S. And regional distributors and large installer ensure that our high-quality solar modules are accessible to homeowner across the country. This multi-approach allow us to penetrate various segment of the residential market effectively. Moving on to the commercial and utility projects. Solar for America has established strong relationship with the key stakeholders in these sectors, including commercial and industrial entities, utilities, developers, independent power producer, IPP, engineering, EPC firms, and financial investors. Our ability to cater to the unique needs of these customers demonstrate our commitment to provide the tailored solar solution across a diverse industry. Our growing list of satisfied customer include many well-known names. This partnership not only validate and the quality and the reliability of solar modules, but they also serve as a testament to our excellent customer service and support. Looking ahead, our R&D roadmap demonstrate our commitment to continuous improvement and staying ahead of the market. Our R&D effort, which have resulted in numerous IP achievement related to manufacturing efficiency and quality improvement. This innovation include a machine learning-enabled EL system for auto-detecting defects and automatic ID measuring apparatus for solar module production line, and a cell replacement machine for solar modules. Additionally, we have developed a reverb apparatus that achieves EVA backsheet and whole solar cell string replacement for solar module production line. This groundbreaking technology allow us to maintain the highest quality standard while minimizing the waste and reducing the cost. In other words, reduce the scrap. We have also designed a solar powerhouse model house showcasing the seamless integration of our solar modules into the residential application. In terms of product innovations, our development lineup includes module with capacity up to 670 watt or M12 modules. Also module with smart racking system and ultra light VIP modules and smart AC modules. This cutting-edge product cater to various customer needs while ensuring optimum performance and efficiency. We believe Solar for America innovative spirit and dedication to R&D set us apart in the renewable energy market. Our ongoing commitment to developing new technologies and refining existing one will ensure that we remain at the forefront of the industry, providing our customers with the best possible solar modules. Before we move to the other area of SPI operation, you know, I would like to briefly summarize the key investment highlight that make Solar for America so attractive. Our state-of-the-art module manufacturing facility provide us with a significant production capacity that enable us to meet the growing demand of the market. We have established a top brand recognition and well-established sales channel across a large installer, regional distributors, and national distribution channels, which position us well for continued growth. Furthermore, our patented intellectual property lead to a superior manufacturing process that ensure high efficiency, reliability, quality in all of our products. Our track record of growing revenue, growing margin, growing profitability over the past four quarter demonstrate our sound business strategy and our ability to execute on our growing plan. With the favorable policy in an environment that include a tailwind and economic incentives such as the federal tax incentive, we are well-positioned to benefit from this growing benefit, growing demand of the renewable energy solutions. Our experienced management team, I have been in the industry like Denton, you know, about 16, 17 to 20 years in the industry, making nothing but making solar cell and solar modules. We are confident that our continuing focus in innovation, in operation excellence, and strategic partnership will drive sustained success and shareholder value in the coming years. I do like to cover a little bit of this very exciting story about solar wafer in the United States. Our SEM Wafertech subsidiary is set to become a key player in the solar wafer manufacturing industry in the U.S. Formally registered in the third quarter of last year and led by a team of industry pioneer and technology expert. SEM Wafertech is expected to reach a production capacity of 1.5 GW in 2022. With the increasing demand for solar energy solution in the U.S., there is an immense need for locally solar wafer to avoid potential supply issue from overseas manufacturer. With the launch of SEM Wafertech, SPI Energy will gain the new high margin, high revenue generating business segment that complement on our existing Solar for America solar module manufacturing business. I think that will pretty much put us in the local content position. We are targeting the initial delivery of the production of solar wafer in the U.S. from our first silicon wafer manufacturing facility in Sumter, South Carolina, which will create a high quality and reliable solar wafers that meet the standards for solar module manufacturing in the same facilities. Importantly, the Inflation Reduction Act of 2022 has created not only attractive incentive for solar module manufacturer, but also for solar wafer manufacturers, providing $12 per square meter of solar wafer produced. This will benefit our operations for years to come, for the next 10 years. Fueled by the IRA, you know, the domestic solar energy market is forecasted to reach $16.9 billion by 2030. You know, as a market which is projected 426 GWs of installed capacity. The domestic production required to meet this rapid growth is expected to be 50 GWs annually by 2027. Huge opportunity. As with the Solar for America, SEM Wafertech also benefit from positive tailwinds, including the Inflation Reduction Act and its climate provisions. Under the IRA climate provision, we can expect long-term extension of the investment tax credit, ITC manufacturing tax credit, manufacturing production credit, and effective tax credit monetizations. These incentives are expected to drive significant new investment into solar ingots, solar wafer, solar cell capacity over the next decade, providing a favorable environment for the growth and expansion of the cell wafer. For companies that produce solar wafer in the U.S., including SEM Wafertech, will receive $12 as I mentioned per square meter of solar wafer produced. This incentive not only helps to offset the manufacturing cost, but also encourage further investment into the space. Moreover, there are additional provisions that benefit the entire industry. These provisions include the $500 million for the Defense Production Act, which aim to secure domestic supply chains and strengthen national security. There are also $29 billion Greenhouse Gas Reduction Fund to support the clean energy initiative, as well as the $5 billion in Climate Pollution Reduction grants for state and local government to invest in emission reduction projects. Furthermore, the Department of Energy, DOE, has been allocated $40 billion in the loan guarantee to support innovative clean energy projects. Providing companies with the necessary financial backing to develop and deploy groundbreaking renewable energy solution in the United States. Overall, this favorable tailwind present a very unique opportunity for SEM Wafertech to capitalize on the growing demand for solar energy while benefiting from the substantial support provided by the U.S. government. We are very optimistic about the future prospect of SEM Wafertech, and look forward to contributing to the clean energy revolutions. Overall, SEM Wafertech is ideally positioned to have established a robust solar manufacturing base in the U.S. as the country seeks to reduce its reliance on foreign supply. Today, I don't think there's any supply to the U.S., that can pose significant risk of its economic health and competitiveness and also energy security. I think the next several slide is pretty much, you know, the product spec of our wafer that we plan to build in South Carolina facilities. Maybe just let me go through this the spec. You know, our soon-to-open, you know, state-of-the-art facility in Rock Hill, South Carolina, will use the cutting-edge technologies to produce high-quality solar wafer efficiently and cost effectively. We will have two type of wafer featuring different sizes, are built thinner than other wafers. This will also features high minorities, carrier lifetime, lower oxygen content, and higher overall efficiency. By manufacturing this critical component domestically, we are supporting the U.S. solar module, solar industry growth, and contributing to the nation energy independence. Moreover, our commitment to research and development will ensure that we remain at the forefront of the solar technology advancements. As a result, we can provide an innovation solution to meet the growing demand for clean energy, while also fostering the creation of high-skilled jobs and stimulating economic growth in the South Carolina. Just to give you a spec, this is kind of the quick view of the facility in South Carolina. As we already mentioned, we expect to reach 1.5 GW of solar wafer production capacity by the end of 2023. It's our goal to reach the 5 GW capacity in 2025. Thank you very much. I'm now to turn the presentation to my colleague, Rami and Andrew, to speak about SPI Australia business, solar business. Thank you very much. Over to you. Thanks, Cheong. I'm Rami Fedda. I'm from SolarJuice Australia. I'm joined along with my colleague, Andrew Burgess. Both of us are the co-founders of SolarJuice in Australia. Today is a pleasure for me to speak about SolarJuice. SPI is a very successful Australian solar solutions trading provider for the Australian market. SolarJuice Australia was established in 2009. Sorry about that. SolarJuice was established in 2009. The founders myself and Andrew. We have a combined 50 years industry experience in solar. SolarJuice has established itself as a market leader in Australia, currently servicing over 5,000 customers across Australia. We manage supplier and solar relationships. We're working tirelessly to build brand equity and grow profit margin. Our team actively seeks market feedback to ensure we remain at the forefront of customer needs and industry trends. At SolarJuice, we have built a reputation as a channeling market of choice to service the Australian solar market. By developing premium tech-savvy brand image, and we can effectively provide a point of difference versus our competition to foster customer loyalty. Leveraging our long-standing supplier and customer relationships in Australia, we are now expanding our reach through to New Zealand and the Pacific Islands. The strategic growth allows us to capitalize on new market opportunities while continuing providing our proven service and support to our existing customer base. I now will let Andrew speak further on our growth strategy in Australia. Over to you, Andrew. Well, thank you, Rami. I'd like to thank everyone for joining today and inviting us to come and present and talk to you about SolarJuice and what we're doing in Australia. Please apologize for our Australian accents. It's great to be here and to be able to go through the factory yesterday, was wonderful to see the factory being ramped up. In terms of SolarJuice, our growth strategy sort of hinges on expanding our distribution network. We've been around in Australia since 2009, but really the next phase of our growth is all around both Asia and the broader Pacific. In terms of what we've been able to offer is quality products, as you've been able to see in the previous slide here, to our network of installers, whether that be wholesalers, whether that be retailers, to be able to deploy the best-in-class products in terms of renewable energy. As we know, the demand for clean energy is growing exponentially with governments and consumers across the globe recognizing the importance of transitioning away from fossil fuels. The Asia Pacific region, in particular, represents a significant opportunity for SolarJuice to capitalize on this demand, given its rapidly expanding population and the increasing awareness of sustainable energy. We see a great opportunity to address this growing energy demand of other SPI business units, namely Solar for America. By doing so, we can ensure a steady supply of high-quality products through our channel in Australia and be able to help support SPI's activities in terms of Solar for America. SolarJuice has consistently demonstrated strong growth and profitability in our financial performance over the last four years, as the chairman pointed out earlier. In 2022, we successfully grew our revenues to nearly $133 million. This remarkable growth can be attributed to our commitment to innovation, strategic partnerships, and expanding our reach in the Asia Pacific region. Our gross margins have remained above 9% for the past two consecutive years, reflecting our ability to maintain cost efficiency and operational excellence. In addition to this robust growth and solid gross margins, SolarJuice has achieved its fourth consecutive year of net profits. This consistent profitability is a clear indication of our financial strength and stability, as well as our ability to generate value for shareholders. Our prudent financial commitment and commitment to delivering high-quality products and services has positioned SolarJuice for long-term success. As we look ahead, we remain optimistic about the future of SolarJuice and the renewable energy market as a whole. With increased global awareness about the importance of transitioning to sustainable energy, we believe that demand for our products and services will continue to grow. As such, we are confident in our ability to maintain our strong financial performance and deliver long-term value to our shareholders. That concludes the first half of today's formal presentation. We'll take a short break, and the presentations will resume at 5:00 P.M. Eastern or 2:00 P.M. Pacific Time. Thank you very much. Thank you. Everyone we have a freshman table over there. Still pretty wrapped. Thank you. This is our best one. You're looking for us, we're looking for you. You found a gem here with Katie. Oh, yeah. She said, "When they told me you were here," she said, "You got to talk to HP. Everything is possible here because of you. Oh, okay. Thank you. Once I arrive, John, I don't have to go through here. Hey, everyone, please be seated. We're about to resume. Thank you. I'll give everybody 1 minute. Yeah, let's start. Good afternoon. Good afternoon. I would like now, turn on your attention to SPI Solar, the wholly-owned subsidiary of SPI Energy that is focused on solar project development. I'm Jack Lee, Senior VP of Global Project Development for SPI Solar. As a global development company, SPI Solar specialize in engineering, procurement, construction, and transferring of utility and distributed solar power plant, energy storage and customized sustainable energy solution. SPI Solar Share the screen. Okay. Sorry. Down. Down. SPI Solar's broad expertise is evident in its impressive track record, having completed over 150 MW of project across nine country, and facilitate more than 2 GW of component sales, showcasing our ability to navigate the complex renewable energy landscape effectively. One of the key strengths of SPI Solar is its long-term relationship with leading component suppliers and EPC or engineering, procurement and construction company. This strategic partnership enable SPI Solar to achieve the best price to performance for its customer, ensuring that project are not only cost-effective, but also deliver optional performance and efficiency. As part of the SPI Energy family, SPI Solar benefit from the synergies and resources available within the group. This enable SPI Solar to leverage the expertise and capabilities of other business unit to expand its reach and enhance its product offering. We have built a large geographically diverse project pipeline in the U.S. with nearly 250 MW of projects currently in various stages of active development across multiple states. Allow me to provide you with a quick breakdown of the pipeline, which showcases the breadth of our work. In our home state of California, we have 13.39 MW. This one. 13.39 MW of solar project currently in development. The Golden State has long been a leader in renewable energy. We are proud to contribute to its ongoing effort to transition to a cleaner and more sustainable future. In Hawaii, we are developing 10.24 MW of solar energy capacity. The Aloha State's abundant sunshine and commitment to renewable energy make it a prime location for solar development. In Massachusetts, we have a 6.5 MW solar PV project paired with a 5.45 MWh battery energy storage system. The innovative combination allows for enhanced grid stability and improved utilization of solar generated electricity. In Illinois, we are working on an impressive 78 MW of solar project which will significantly contribute to the state's renewable energy goal and help reduce its reliance on fossil fuel. In Maryland, we have a substantial 170 MW of solar project in development, cementing our presence in the Mid-Atlantic region. Finally, in Oregon, we have an 80 MW community solar project that will provide clean, affordable energy to local residents and help the state achieve its ambitious, its ambitious renewable energy target. As you can see, our project pipeline is bold, diverse, and expansive, reflecting our ability to navigate various market and regulatory environment while delivering high quality solar solutions. To further illustrate our capability, our trackability, I would like to highlight two high-profile development that exemplify our commitment to excellence. First, we have, this is a field project in Hawaii. Okay. First, we have completed a 709 kW system at the Golden 1 Center in Sacramento, which serve as a home of the Sacramento Kings. The solar installation not only provide power to the arena, but also serve as a symbol of the team's dedication to sustainability. We have installed a 512 kW system at Staples Center in Los Angeles, home of the LA Lakers and LA Clippers. The high performance solar array underscore the venue commitment to reducing its carbon footprint and it's expected to provide clean energy for decades to come. Each of these system has an estimated life of 30 to 40 years. Demonstrating the long-term value and reliable of SPI Solar's project. Looking ahead, SPI Solar is well-positioned to capitalize on the growing demand for renewable energy solution. With increasing awareness about the importance of transition to clean and sustainable energy sources, there is a tremendous opportunity for SPI Solar to continue its expansion. We are excited about the prospect of SPI Solar and look forward to sharing its future development with you. Thank you. Thank you for your time and attention. Up next is Paul Zhai, CFO of Orange Power, SPI's independent power producer business. Paul Zhai will be joined with Vasily, VP of European Assets Management for Orange Power. Thank you, Jeff. Thank you everyone for stopping by our facility to attend our SPI's first Investor Day. This is Orange Power independent power producer. I wanna say something before my introduction. After the solar development, we have the independent power producer, which will generate electricity to the grid. In the business nature, we are following after the solar development business. My name is Paul Zhai, the CFO of Orange Power. It's my great pleasure to introduce you our exciting independent power producer subsidiary called Orange Power. Orange Power, from my personal perspective, you know, represents a great example of SPI's excellence and commitment in the renewable energy, and plays a vital role in on our ongoing success for the whole group. As an independent power producer, Orange Power has made significant investments. Over $100 million in renewable energy sectors. Majority of them are in Europe. We also have a project in U.S. RNPower focus on generating a stable cash flow by owning and operating the renewable energy assets. Currently, as you can see, RNPower has an impressive 43.84 MW capacity in operation. We believe this strategic investment very much demonstrate our global reach and highlight our capability on these opportunities. This is the chart that you can see our different project. I'm gonna go through quick. Any question, you know, any detail, we can discuss, you know, after the meeting. Here you go. This is our Cervi project, bridge project, which has four plants, total of 7.47 MW, with FIT, as you can see, different from 21.5 EUR cents to 25 EUR cents per kW hour. This is the four plants of Cervi project. We also have a major project in Greece called the SINSIN project. Total capacity is 26.6 MW, with FIT close to 20 EUR cents. I wanna bring everybody's attention that given we have a litigation related to 4 plants of SINSIN project, our operating results have not been consolidated in our book, with some significant liability, which Jeanette, our Group CFO, will cover and discuss a little bit more in her part. We are now trying to resolve the issue. We believe once the matter is resolved, over $70 million asset, including the EUR 30 million cash, will be consolidated back to the group, which will improve not only the entity but also SPI's operating results. You can see, I'll go through quick. This is several different, you know, projects. SINSIN project, total of 26.6 MW. We also have 1 small project close to 1 MW in Italy, and also two project in UK. Thanks to Jeff's, you know, efforts, you know, we hope we can, you know, have a own more, you know, projects in US. This is the Hawaii project, close to 0.7 MW, 20 years PPA. Yeah. Looking ahead, we will extend our business to green hydrogen as well. This is a great news to share, which mean, in other words, we're not only to sell electricity, but also we'll sell hydrogen. We see the tremendous growth opportunity and ceilings for RNPower as the demand for clean, sustainable energy continually seek to grow, increase globally. Also our board has approved the spin-off IPO project, which I believe will unlock holder value for the SPI shareholder as well. In conclusion, RNPower represents a crucial component of SPI. With its strong track of record of investment, stable cash flow, and a significant capacity in operation, RNPower is well-positioned to continue driving growth, creating value for SPI Energy and its stakeholders. We are excited about the future of RNPower. We'll look forward to sharing our ongoing success with you guys in the future. Thank you for your time and attention. Up next, Mark Hastings, the company's Phoenix Motorcars Senior VP of Corporate Development and Head of Investor Relations. Okay. Great. Thanks, Paul. Thanks, everybody, for joining us today. My name is Mark Hastings. As Paul said, I'm with Phoenix Motorcars. For those of you who are not familiar with Phoenix, we're an EV manufacturer that was partially spun off from SPI Energy via an IPO in the Nasdaq last June. We trade under the ticker symbol PEV, SPI currently owns about 82% of the outstanding shares of Phoenix. We were founded in 2003, we're headquartered in Anaheim, California. Phoenix Motorcars is a leader in sustainable and zero-emission, all-electric medium-duty commercial vehicles. We serve a wide range of customers, including municipalities, airport parking facilities, hotels, and campuses, are driving the transition to cleaner and more efficient transportation solutions. Phoenix Motorcars' commitment to sustainability and innovation is evident in our long and impressive track record. Today, we serve over 50 commercial fleet customers to whom we have deployed over 120 electric shuttle buses and trucks. Late last year, as Denton mentioned a few minutes ago, we achieved an important milestone as our vehicles collectively traveled over four million miles. That showcases the reliability and performance of our technology. Among our more well-known customers is NASA's Jet Propulsion Laboratory in Pasadena, who was actually our first customer, and they took delivery of our first Gen 1 vehicle back in 2015. WallyPark Airport Parking, who many of you may have heard of or even used, are located at LAX and other airports, took delivery of its first Phoenix vehicle the following year in 2016. WallyPark Airport Parking remains our largest customer, and they have over 40 of our vehicles, and we delivered the most recent vehicle to them in the first quarter, so they're still taking delivery of our vehicles. In addition, other customers include the City of Irvine, the U.S. Department of Defense, and Avistar Airport Parking, among many others. These organizations' adoption of electric vehicles demonstrates their commitment to reducing greenhouse gases and greenhouse gas emissions and improving air quality, highlighting their trust in our vehicles. As the demand for sustainable transportation solutions continues to grow, we think we're well-positioned to capitalize on this trend by expanding our product offerings and customer base. Our commitment to research and development ensures that we will remain at the forefront of electric vehicle technology, enabling us to deliver increasingly efficient, reliable, and cost-effective solutions to our customers. In addition to addressing the market's need for next-generation commercial vehicles and pickup trucks and SUVs, we also offer a full range of EV chargers, telematics solutions for fleets, EV infrastructure solutions, and also vehicle maintenance and service programs. We are excited to be planning 3 major product launches over the next three years, beginning with our fourth generation drivetrain, which we call Gen 4, effectively. We'll be introducing our fourth generation drivetrain within the next just couple of months, and this will provide a bridge to our upcoming fifth generation drivetrain, which will be based on our own purpose-built chassis. The development of our Gen 4 vehicles was the first time in which we deployed our asset-light business model. This asset-light strategy extends both upstream to our suppliers and downstream to our manufacturing partners. This approach allows us to remain agile and cost-effective while maintaining a strong focus on quality and innovation. Upstream, we're leveraging our strategic partnerships with R&D firms and engineering service suppliers, enabling us to access cutting-edge technology and expertise without the need to build these services in-house. On the downstream side, we are partnering with customers and third-party manufacturing facilities to develop assembly facilities across the US and locating them closer to our customer base, further reducing capital requirements and enhancing our scalability. Our existing Anaheim production facility, which as I mentioned, is our headquarters as well, has been reconfigured to increase production, and it will serve as a training and showcase facility. Our manufacturing and assembly partners send their technicians to Anaheim to learn our processes and procedures. They take it back to their facilities, and implement them, which will ensure standardization and quality across our entire production network. One issue that the entire industry has faced over the past couple of years is access to secure battery supply. We experienced difficulties with battery supply in 2022, and we've addressed that by signing a long-term supply agreement with CATL, the world's leader in EV batteries. This agreement provides us with long-term strategic access to CATL's CapEx and related products, and that will ensure a stable and high-quality battery supply for our vehicles. Importantly, our Gen 4 drivetrain is expected to achieve lower production and materials costs compared to our Gen 3 vehicles, thanks to the use of standardized components and subassemblies, allowing for cost savings and more efficient production. As an example of the improvements that we've made with our Gen 4 design when comparing to Gen 3, we have reduced the number of parts and subcomponents in our vehicles from 450 parts with our Gen 3 vehicle down to 55 with our Gen 4 vehicle. Literally an 80% decrease in our parts and subcomponents. That will cut production hours more than in half and will be a major step change in our cost structure. Looking further ahead, we expect to launch our Gen 5 vehicles in 2024. Building upon the experiences and design innovations of Gen 4, the Gen 5 vehicle will represent a significant leap forward for Phoenix Motorcars, as we will be producing an entirely new vehicle that is all our own. The design of our fifth-generation vehicle is already well underway and includes our own purpose-built chassis design. This move demonstrates our commitment to innovation and vertical integration, as well as our determination to maintain control over all critical aspects of our production. By achieving chassis independence, we'll also solve the second major impediment to long-term growth. As I mentioned, the first impediment to long-term growth is secure battery supply. The second impediment to long-term growth is securing chassis supply. With the ground up chassis design, we can customize the vehicles to meet specific customer needs while maintaining standardization and quality. This flexibility will enable us to better address the unique requirements of the diverse customer base that we have and adapt to evolving demands in the EV market. By accommodating customer requirements and staying ahead of the market curve, we think our Gen 5 vehicles will deliver greater customer satisfaction and further solidify our position as a leader in the commercial EV industry. In 2025, we plan to bring to market a line of light duty consumer and commercial vehicles under the EdisonFuture brand. This innovative brand will include pickup trucks, SUVs, and delivery vans designed to meet the diverse needs of both individual consumers and businesses. The EdisonFuture prototypes were unveiled at the 2021 LA Auto Show and the 2022 Consumer Electronics Show to rave reviews. Excuse me, the EF1-V, the van, and the EF1-T, the pickup truck, showcase the brand's commitment to cutting edge design, performance, and sustainability. The pickup truck is a robust and modern multi-purpose vehicle suitable for work, travel, family, or personal use in varying road and environmental conditions, from city streets to off-road adventures. Its versatile design ensures that it will cater to a wide array of consumer needs while maintaining a sleek and stylish appearance. The EdisonFuture delivery van utilizes the same chassis and platform as the pickup truck series, resulting in a robust and modern multi-purpose vans that can serve the growing demand for sustainable commercial transportation solutions. A standout feature of all EdisonFuture vehicles is our patented solar panel array, which can be found on either the Armadillo pickup truck, the bed cover, or on the roof of the SUV and the van. These solar panels help extend battery range, further enhancing the vehicle's performance and reducing its environmental impact. As a result of Phoenix executive management team's deep experience and relationships within the EV ecosystem, we have established strategic relationships with many of the leading participants in the global EV industry. As I mentioned already, we formed a recent partnership with CATL, the leader in global battery technology. This collaboration will focus on co-developing batteries for our product lines, including the CapEx for the upcoming Gen 4 vehicles. We're also exploring potential cooperation on Gen 5 and expect to do so and with Gen 6, also known as EdisonFuture, in the future. Together, we look forward to deploying cutting-edge rolling e-chassis with the Phoenix vehicles as well, paving the way for enhanced efficiency and performance. Our second strategic partnership is with Altair, a renowned name in the battery industry. We joined forces to co-develop a swappable battery system for Phoenix product lines. We call this partnership the Phoenix Exchange. We unveiled it 2 weeks ago at our Anaheim facility in conjunction with the Advanced Clean Transportation Expo in Anaheim. This innovative technology will allow customers to enjoy greater convenience and flexibility, and can swap out a battery from dead to fresh in under a minute. We're also excited to have formed a partnership with IAT Automotive, one of the global leaders in EV engineering and design. They've helped us bring our Gen 4 to market in under a year and at much lower cost than we could have ever achieved if we were doing it on our own. We've also partnered with Pegasus Specialty Vehicles to jointly develop Type A electric school buses, specifically designed for the North American market. Our agreement targets a minimum of 300 Type A school buses to be built within the next three years. Finally, we've teamed up with Fermata Energy, which is a global leader in vehicle-to-grid or V2G technology. They actually were at our headquarters two weeks ago when we unveiled the Altair swappable battery system and displayed our V2G technology with them as well. So overall, we represent an integral part of SPI Energy's diverse and dynamic ecosystem. We focus on sustainable zero-emission transportation solutions, and we have a growing list of satisfied customers. We think we're poised to make a significant impact on the rapidly evolving EV market. At the helm of our organization is a seasoned and incentivized management team with an impressive average in-industry experience of nearly 30 years. Our collective expertise and dedication have been instrumental in driving our companies forward and achieving tremendous milestones. We pride ourselves on our asset-light business model, which allows us to be agile and responsive to market changes. By partnering with world-class organizations, we can focus on innovation and growth while minimizing capital expenditures. We are not a pre-revenue company. In fact, we delivered our first trucks nearly a decade ago. Since then, our EVs have logged, as I mentioned several times, four million zero-emission miles on the road, which showcases our reliability and performance. Over the next three years, we plan three major product launches, further expanding our portfolio and catering to various market segments. These new offerings will help solidify our position as a leading player in the EV industry. We are strategically well-positioned to take advantage of the ongoing shift from internal combustion engines to electric vehicles as the demand for clean transportation solutions continues to grow. We're excited about the future prospects of our company and its impact on SPI Energy's bottom line, and we look forward to sharing our success with you at future events like this. Thank you all for your time. Next, I'll turn it over to Dr. Bo Yang and Dr. Z to discuss EdisonFuture. Hello, everyone. I'm Zhao Minghua, and this is Dr. Bo Yang. We are excited to share with you the latest development in our hydrogen business, a vital element of our commitment to sustainable clean energy solutions. As you said few, Phoenix Motorcars acquired the hydrogen fuel cell manufacturing assets, including a state-of-art automated robotic fuel cell assembly line from Altergy Systems in the third quarter of 2022. The acquisition has propelled our EdisonFuture unit to the forefront of hydrogen fuel cell technology. With the new resources and after comprehensive policy and market analysis, we define our business focused on developing at once electrolyzer solutions for hydrogen production as well as the fuel cell solutions for hydrogen consumption. Hydrogen is the most abundant element in the universe, and it serves as clean and high efficient energy source due to its high energy density. Hydrogen can be produced using renewable energy source, such as solar and wind. At the same time, hydrogen has diverse applications in the fields like transportation, power generation, chemical production, and electronics. According to the Department of Energy, hydrogen is set to join electricity as a major energy carrier in the coming years. The overall hydrogen industry market is projected to experience continuous growth both globally and in the U.S., with a compound annual growth rate of 8.8% between 2023 and 2030. An even more impressive growth can be seen in the green hydrogen market, which is expected at a growth rate of 38.2% between 2022 and 2030 in the United States. This rapid growth highlights increasing demand for clean and sustainable energy source. The increasing demand on green energy also leads to significant increase in the electrolyzer market, which is anticipated to grow at a rate of 23.8% between 2023 and 2033. This robust growth underscore the significant potential for innovation and expansion within the hydrogen sector. By leveraging our state-of-art manufacturing facility and cutting-edge fuel cell technology, EdisonFuture aims to meet the increasing demand for sustainable hydrogen-based solution across various industries. The hydrogen industry is also benefiting from the great U.S. government support, which further underscores the enormous potential of EdisonFuture hydrogen business. The Bipartisan Infrastructure Law demonstrates the government's commitment to advancing clean energy solution by allocating substantial fundings on various aspects of the hydrogen sectors. The Inflation Reduction Act also offers attractive tax credits from 2023 to 2033, aiming at support the production and adoption of hydrogen technology. These incentives includes up to $3 per kilogram of hydrogen production tax credit, 30% of tax investment tax credit, and up to $40,000 for mid and heavy-duty fuel cell electric vehicles. In addition to federal support, there are a variety of state level incentive programs, regulations, grants available across the nation. Our EdisonFuture unit is now utilizing this advanced manufacturing facility located in Folsom, California, to design and produce hydrogen products for a wide variety of applications. Our manufacturing facility is positioned with remarkable production capabilities. The advanced robotic fuel cell assembly line can produce a single fuel cell every second, every 30 seconds. We also have a comprehensive on-site research and development laboratory with comprehensive software and hardwares. EdisonFuture is at the forefront of hydrogen innovation, working diligently to develop cutting-edge electrolyzer solutions that can efficiently and cost-effectively produce hydrogen on a large scale. Our commitment to research and development in this area will help lower down the cost of hydrogen production, making it as an increasingly attractive and accessible energy option for various industry. We also focus on two main types of electrolyzers, the alkaline electrolyzer and the PEM electrolyzer. In addition to our work in electrolyzers, EdisonFuture is also focused on developing hydrogen fuel cell solutions for energy storage and consumption. Fuel cell converts hydrogen into electricity, producing only water as by-product, making them an environmental friendly alternative to the traditional combustion-based power generation methods. Our hydrogen fuel cell solutions are designed to cater a wide range of applications. One example is fuel cell application on forklift to extend our current warehouse truck catalog outside of the current lithium products. Backup power for telecommunication applications, as well as transportations, such as heavy loaded long distance transportation and solar fuel cell battery hybrid transportations. By harnessing the power of hydrogen in these diverse use cases, we can significantly reduce greenhouse gas emissions and contribute to a clearer, greener future for all. Thank you. This is our presentation. Now I'm going to turn over things to Janet Chen, the Chief Finance Officer of SPI Energy. Thank you. Thanks, Dr. Jiang. Ladies and gentlemen, I'm Janet, the CFO of SPI. Warm welcome again for attending our first investor date today. We are now undergoing the audit review of our Q1 2023 figures, so we are expected to have it by early next week. Today, I'm going to lead you through our past announced 2022, and the past year's figures. Yeah. Yeah, as you can see, we have achieved a good increase in our revenue in the past four years. Although our gross margin is a little bit because we have expanded in different segments, and then we are now trying to slow down the lower GP segments, and then increase our higher ones. This, we will have a better combined of this in 2022, and you can expect to look at it. Okay. This is our 2022 profit and loss account versus the 2021. We are doing better than the year before, and I think we are expecting to have better one in the coming years, as you can see and learn just from our team members of all segments, right? Oops, I would like to cover this first. Our CFO of Orange Power, Paul, just mentioned about SINSIN cases. I would like to have some more insights for you for the SINSIN ones. Here we have investment in affiliates. $70 million something here, that was our investment in SINSIN. Because of the dispute, we lost our control in SINSIN, so we started to disconsolidate SINSIN starting from January 1, 2017. That means this is the carrying amount of the equity in SINSIN as of December 31, 2016. It doesn't include the all the operating result of SINSIN ever since then. The management is now actively negotiating with SINSIN counterparty to have it solved. Once it is solved, We consolidate it and have all those results coming back if we get it solved. The investment cost here, that was as of December 31st, 2016. The payable here is that $60 million consideration payable. It was included the consideration and also we accrue interest for it because it was not yet settled. The final amount will be decided once it is settled. This is the some more information regarding Xinjiang, okay? Let's back to this one. Our revenue by segment. As you can see, we have only five segments in 2022, which is the sales of PV components. This is all from Australia. We are doing a very good job in Australia. Now, thanks to Andrew and Rami's team. We also have this roofing that was come from the SolarJuice American. The business we acquired, we acquired the asset of Petersen-Dean, then we do this roofing business here. Actually management has decided to slow it down in the future because of the not that good GP ratio. This is the current power plants that we're earning electricity revenues. That was also one part of the Orange Power section. This is the Phoenix operations. You can see that we don't have the segment information of the modeling revenue, which Denton, HK has just shared with you a very good outlook in the future. We will see the segment of the modeling manufacturing in our Q1 and also in 2022-2023, which will be quite good increase to our total revenue. I think this is what I would like to share with you today. Maybe I will leave it to Randy, our investor relationship director. As with himself. Randy, please. Thank you, Janet. This slide shows up several times in the presentation. It's the best synopsis of SPI Energy. I encourage investors to take a little extra long look at this slide. All of our solar and other divisions are poised for strong growth. We have a highly experienced management team. We expect to substantially benefit from the recent U.S. Inflation Reduction Act. This slide shows many of our products and also the staging or progression of how one product is incorporated in a larger product and then in the actual collection of solar energy. Many current and planned SPI Energy products should benefit from that IRA statute. This slide also illustrates the synergy, as I just mentioned, between our divisions and our products. Some of the more critical IRA benefits to the company include the $12 per square meter ingot and wafer benefit for SEM Wafertech, the $0.07 per watt benefit for Solar for America's modules, the 70% investment tax credit for Orange Power's IPP projects, the $40,000 commercial EV and the $7,500 personal EV tax credits, and finally, the hydrogen power benefits of $3 per kilogram for electrolysis and 30% investment tax credit for fuel cells. That concludes the main portion of the presentation. Now we'd like to open up the presentation to questions. The first question that we received was from Tim Moore, the EF Hutton research analyst who covers SPI Energy. Tim posed the question: Do HK and Denton still expect the California-made solar module revenue to double each quarter during 2023? How is the labor sourcing at this facility lately? Will we have enough hiring throughout the year? Denton? Again, you might. Yeah. I think the labor question probably HK can answer later. Currently we see a lot of challenge to the labor hiring in U.S., especially in California, now we are facing. We have doing a lot of training now, so everything on program. We should be have a good chance to hiring a lot of enough employee in this summer. For the revenue side, we still see a lot of demand because it assumes the revenue seems because we are ramping up. It should be very good possibility that our module shipments will be close double probably quarter by quarter in the next few quarters. Of course, it really depends how quickly we can get all the employees hired and training this is most important, but especially the training of the employees. Some employee after few months training, they probably have some chance they find another job or maybe we need rehiring again. Maybe HK can share more for the hiring process in California. Thank you. Thank you. Thank Thank you, Denton. In this facility we have two lines, 150 MW and also 550 MW, as you will see later on. We have about 120 to 130 people as we speak. We managed to run three shifts right now. One shift on the older line and two shift on the new line. We probably in a shortage about, you know, 30 to 40 people. Once we get it, I think we will be able to run two shifts at least for the old line, and full three shifts. three shifts means 24 hours per day. That will allow us to run even higher. I think to speak, to answer to the question, are we doubling? I think we have a high chance of doubling our output each quarter due to the fact that we are increasing our manpower. As Denton has mentioned, you know, clearly it's a shortage of experienced steel workers here. I think we have the, you know, due to our network, we managed to pool quite a bit of expertise to help us to train the local people. Yeah. The whole process will take probably about two to three months, so we are confident that we will be able to do, you know, 160 or 170 people by the third quarter. Thank you. There's another question. We have a few other questions. The second question also comes from the EF Hutton research analyst, Tim Moore. Tim says, "Congrats to the SolarJuice Australia team's success the past decade, based in my favorite city in the world. Can SolarJuice expand in the Pacific Rim beyond New Zealand to Indonesia or possibly Brazil or South Africa? That'd be less there. Andrew. Probably answer that right there in front of a lot of people because he's from here. Yeah. Thanks for the question, Tim. You're more than welcome to attend, visit our facility in Sydney anytime you're in town. In terms of expansion, yes, I mean, I think, you know, countries like Indonesia, I think is, you know, the fourth most populous country in the world with some, you know, 270 odd million people compared to a country like Australia with only 26 million. You know, for us, the Southeast Asian region is most definitely, you know, a huge opportunity. It's going to be, you know, a market that's evolving very quickly as a lot of folk come out into that middle income bracket. Demand on electricity, demand on power is going to be something that we'll see, you know, huge opportunity with as well as not just solar, but also battery storage. For us at the moment, probably not so far as South America, as was asked. Yeah, certainly in our region, countries like Indonesia, countries like Vietnam, the Philippines, Thailand, these are certainly areas that we think that there is huge opportunity and growth potential for. Thanks a lot. Thank you, Andrew. Everybody can ask question right now, so, let everybody ask online. I don't think we have any more remote questions. Are there any questions from the in-person audience? Yeah, from the floor. Yeah. Please don't be bashful. Thank you very much for allowing me to be here. It's a very exciting presentation, no doubt. Your vision is very synchronous. Looks like solar to battery to fuel cell and future. It's very exciting to see. What do you think your biggest challenge is now? Because this execution is very challenging for sure. There are a lot of shortfalls. What are the biggest challenges that you think you may face and what type of help you'll look? Thank you for that question, really thank you for coming today. As PA, I almost every day ask myself, what's the challenge? We see the challenge almost every day. From my last 20 years experience, I made a lot of mistakes, pay a lot of $10, we so-call learning fees. Of course, we also make a lot of achievements and a lot of excitement. I think for the last 20 years, you see the renewable energy sector do a lot of improvement from solar, from EV, from battery, from hydrogen, and for also other areas like wind and other renewable energy sectors. What we forecast, because we've seen this will create a very strong synergy, and this is really our future need and all our kids need. When I start the solar business 10 years ago, I said, "Wow, it's $8 per kW. This only can be for satellites. This is not for real life." After I do that business in 10 years, I say, "If I have a chance to bring the solar electricity production, if you know less than $0.20, it will be nice in our lifetimes." This is why you see you come our project in Europe at the time, all the policymaker, they make the policy like PPA or feed-in tariff price about EUR 0.26, EUR 0.24. In here you've seen, we've seen some customer come here. They do the solar in U.S. They say they still have power, some power purchase agreement at EUR 0.26. Now we see a lot of solar projects just a bit last year. It's $0.02, less than $0.03. This is already a power cheaper than most we can imagine the source. Even I see in China, the electricity we see somehow is already cheaper than any kind of source. One of the cheapest resource of generating electricity. This is why you see. This I say, you know, sometime at lifetime dream comes so quickly. This is why I think now you see the solar now nobody's think about solar too expensive. Now it's just see how to make solar more affordable to the industry. Same for the battery. If you see that now, if you track now, we have invested a lot of storage technology, in different kind of technology we have seen. Now you see that battery, you see a lot of this do the same change we do for solar last 20 years time. Battery will be same in the next five or 10 years. Will be one of the most available source to storage electricity. This now I see when you assess first Powerwall. Now how many Powerwall we sell in Australia and how many Powerwall we now only see. Recently, just yesterday I learned from Randy and Andrew, The power just recently reduced a lot on the Powerwall price. The demand increase is huge. Now you see more and more like the same, you see the same change probably will happen in hydrogen. Hydrogen now you see from the Inflation Reduction Act, it gives $3 per kilo for green hydrogen production incentive in U.S. As you know, Europe do more. This is not the best. Europe give EUR 4 for green production hydrogen because of the last year, the shortage of energy, all the things happened last year, the war, all the things. Even that, the hydrogen is still one of the best solution for transport electricity because solar, wind and other renewable, a lot of. They have a lot of advantage, but in the meantime, a lot of weakness. Solar only generation in the day. How about night? Even you have the batteries, but how the battery, the energy density only 0.4, 0.5. Hydrogen have the highest energy density now we can find in the current market. It's about the energy density about 280 times, 300 times than current battery. This is why a lot of see hydrogen growing the next really energy. Because now you see, now they lot of thing. You see the benefits, and this why we investment the fuel cell and also hydrogen business. Of course, renewable energy is a big sector, but we see everything will copy the same story of the solar and especially thanks for the. Can you Can you give me last page? I can borrow the last page. Last page of the. Yeah. Yeah. That Randy just shared with everybody. I think that thanks for the Inflation Reduction Act. They have a lot of incentive program, not only what we're doing. There are a lot of things you see they incentive that program. This is area that we see we already participate. This is really, I think the big challenge we think how. When you do so many business, you lose the focus. If you think about our company, it's almost seem like Tesla doing. The Tesla is a huge company, we are much smaller. How we can competing and can be success in this area? This is why we select a strategy. We need to be focused. We need to use our limited resource that we can use well, our resource can be more. We spend $1, we equivalent somebody can spend $10. We need to do something with strong, we are familiar. This is why I starting to do wafer, I spent almost all my last 2 decades in this business. I have a lot of resource in this area. I think even I close my eye, I always think how to produce a wafer of, in this business. I this why I think I need to come back to produce the wafer, because a lot of resource in this area. Everybody know that produce wafer is not easy. With a lot and also a lot of margin there. This is why a lot of exclusion and lots of investor contact me. They want to help to building to doing wafer made in U.S. I think we will be the, this is where that sense. Also the, for the module is the same things. The good things for us, the advantage for us, because we are all very familiar with the module. We have been like a tree. We have been the module industry for the last 20 years. We built all the many first in this industry. Also for the fuel cell and the project development. Because the most important things we have already from zero to one or even zero to three or four, same like Sonus, like Air Distribution. We are not zero. All this business sector, we are already zero to one to three or to four. Because normally you spend a lot of money. This is why we spent $720 million, just want to from zero to one or zero to two. Now I think most of our business is starting to get profitable. We will use our profit to reinvest the business. You ask your second question, what's the challenge? All this business, we need the CapEx to growing. Each business, we need to show them to the investor, because all the investor only want to invest a profitable business. We already do one to show the one or two or three. This is why these days a lot of investor chase us. They want to invest the solar module business. Because this solar module business is already very profitable from last Q4. A lot of investor contact Rami and Andrew. They want just only invest the distribution in Australia because they are friend, they are leader. A lot of Australian investor, they're chasing Andrew and Rami. I want to be your investors. Same like the wafer, because they know my background. They know I can build the wafer factory again. I also dealing all the major brands of the customers, all the famous customer wafer. This is why a lot of them want chasing to building something. This is why we are building the solar wafer factory in Sumter, in South Carolina. Also, the local community of Sumter and South Carolina, very welcome us. We are very incentive. Also we share the community. The county very exciting. He will say, "When you hire? When you want to do start your production?" We see this is a challenge but also opportunity because all these sectors is very excited by many investors. For example, even our current, our future technology, the technologies, we have not yet started a company to receive investment. Some investor want to write a check for $20 million. That's when we're ready. This business, I say, "Oh, no, we have other to receive. Why you not invest other?" They don't want just want invest hydrogen. For us, our challenge, of course, always capital. Even we have already spent $720 million to build this platform. In order to create a great company like Tesla, you need billions, billions. Good things, we are not zero. We are already one. We want to from one to 10 to 100. Thank you for your questions. May I ask a question? Yeah. You spoke of the price of electricity to your solar cells at somewhere around as low as anywhere as three cents per watt. Question I have is, what is the price of hydrogen today on today's market? Without the subsidy? Yeah. Right here. Yeah, Dr. Bo. Currently, the hydrogen price. There are several components of the hydrogen price. The production cost and transportation costs. Now, like, in California, for example, at this hydrogen station, the price can be like between $8-$15, something like that. But like the federal government and the DOE, U.S. Department of Energy, has like a clear roadmap together to basically, you know, implement several program like the Hydrogen Shot. Their goal is to one in one decade to produce green hydrogen for $1. That's the goal here about one decade. Also like the Bipartisan Infrastructure Law, also like requires hydrogen costs to be produced at $2 in like 2036. This is a very ambitious goal. A lot of like think about like a lot of challenges ahead. That's why just like as a government is putting a lot of efforts. For example, that's by the Bipartisan Infrastructure Law, they put like $8 billion to create like at least four hydrogen hubs. Basically to create the production and where the demand for hydrogen. To basically to like promote the national network for hydrogen, like economic. Thank you. In terms of kWh, is there a cost there please? Which one? For hydrogen. For hydrogen? Now for hydrogen, we all know for some traditional hydrogen production, pretty cheap. For example, you get a by-product from chemical production or the others. It's already cheap, it's called green hydrogen, that's not friendly to the environment. That's why the government all over the world is trying to promote a green hydrogen. There are different colors for hydrogen, right? Just by the way. It's called green hydrogen. It's just, you know, basically, for example, you're using a steam reforming method, use natural gas to reform. This give hydrogen, it produce a lot of carbon dioxide. It's called green hydrogen. At the same time, if you use like, carbon capture or sequential like method to basically to capture like a carbon dioxide produced and basically like bury it down to the ground. That's called like a blue hydrogen. Yeah. Now like what the government is more interested and the public is more interested in like green hydrogen. For example, using our solar energy or wind to this like electricity is like allowing renewable energies to like using electrolyzer to produce hydrogen. That's called green hydrogen. That's like getting a lot of like chances. Thank you. You're welcome. Okay. I had some questions following up on hydrogen. A lot of the production of hydrogen and the, like, turning that into energy requires a lot of expensive raw materials like platinum and silver. I was wondering how you're gonna get around using those catalysts to, like, reduce the price of the infrastructure around hydrogen energy. Yeah. For hydrogen production? Also the fuel cell themselves. Basically for, answer for fuel cell first. Yeah. For fuel cell now like, with, you know, basically that the fuel cell actually started like many years ago, like between the 90s, like, 1890s. Since then, like, a lot of progress has been made, but some of the catalyst loading has decreased from like, you know, for example 2 mg like per centimeter. Now like 0.2. That's like a catalyst loading decrease, and also the membrane thickness is also decreased. Like at the same time, the durability has been improving. The efficiency is like getting better. This like a key component, for example, membrane electrode assembly, the cost like has been decreasing like significantly. For example, now in China, the fuel cell like can achieve about. At least, at this moment, the price about like three, it's about $500 if you want. Like yeah, maybe in like next two years can have a further decrease. For system level, from the overall cost, you know, you, one of like most important like approach to decrease the cost is volume, right? That's why like government around the world are like trying to put more like applications for fuel cells. For example, in like California itself, we see a lot of like transit agencies are deploying fuel cell like buses. Also like a lot of like, for example, like agencies like CEC, they also put a lot of funding for hydrogen station infrastructure. For the electrolyzer, the same thing. With all this like government support from like IRA with like also research and development efforts from like, a lot of the study also pretty like confident that like in by 2030, the hydrogen cost will be like. Get like $2 per kilogram green hydrogen. This also depends on several factors. For example, this of course volume and also like, the cost of electricity. Again, like we have mentioned a couple of times. When you say volume, are you talking more about the volume of the hydrogen itself or volume of production? Both. Like, volume like, production and consumption. That's why there's a lot of efforts in trying to put some I guess I mentioned that, a hydrogen hub. For example itself, like, Taiwan itself, they try to apply for, to create like hydrogen hub. What that means, like, the government is supporting a lot of, like, companies to basically produce hydrogen and also to create the consumption of hydrogen. This will be, like, establish a very well established, like, network. Of course, yeah, you may have an electrolyzer for the cost. Now like, that's have two different, several different types of electrolyzers. For alkaline like, electrolyzer, this catalyst is like nickel, like, it's not very expensive. For PEM it's like, using a precious metal. Like I said, the academic and it is like a company also trying to decrease the loading for the catalyst. For example, like 2 weeks ago, we just talked about another, like, you know, start company. They have a very, like, unique, like, approach. Basically cuts the catalyst loading significantly, but it keeps the same, like, efficiency. A lot of, like, efforts are being done and, which Go ahead, Dave. Dave, go. Oh, okay. Anyone else? Thank you for having us. Thank you very much for your invitation. I'm Daop ing from Shorevest Capital. China now is a big production capacity with solar panels or solar, all steps. What's the competition you are going to face or facing between the production here and the United States? Because you are going to produce or making all step made in U.S. What's the competition you will feel coming from China since the Chinese production cost is quite low, like wind field or some even some lower than here. Would you please give me something like foundation of the different kind of cost competition, for example? I think this is a really, a very, very good questions. I think there's always, when on the road you meet an investor, the most investors have the same questions. Now you know the manufacturing, especially the solar manufacturing, Asia dominates the output and manufacturing. The cost is much, much cheaper. It is why, you know, our Australian team, most of our products, Australia, their market is buying from Asia, especially from China. Original, like, inverter, mostly we buy from Europe. Now also the percentage of the China for inverter also increase. Same this is why the U.S., we've only starting the solar module manufacturing in here a few years ago. We only starting very small, 150 MW, and then we only planning 700 MW. Most of our competitor in Asia, they're starting minimum 10 GWs. If they don't do anything less than 10 GW now, you see all announcements. Now the difference we see that they're made in U.S., especially Inflation Reduction Act is change the picture. First, the U.S. manufacture total based on total different markets. It's like you have, maybe not exactly that same, but you like, you do, you lunch. In China you probably you pay 10 RMB, here you pay $20. They're facing different markets. The market price and the environment is also different. Now the current environment, the solar module and the clean energy industry, they more and more requires local content and the products need to made in U.S. Even if the market, if you want the first buy from Asia, but from current Inflation Reduction Act will require for incentive. For example, the project development, they have additional 10% of the local incentive for total project invest. For example, if the same situation like your project in Hawaii, even you buy the same products from Asia from zero cost, it's still better to buy products made in U.S. This is for the policy incentive, make the products made in U.S. more attractive. Secondly, before there any policy, there's still some manufacturing made in U.S. This I think why this happened is also another reason is because the U.S. manufacturing have close to customers. Especially more and more customers, they are looking for local warranty. If a product you made in overseas, they only have a sales office in U.S. How you can warranty for 20 year, 25 year, 30 years? All the especially residential market and commercial market, they will be more comfortable to get a call and have a local warranty and the product is made in local U.S. Similar to products like EV module, and all the electronic products. These are another benefit. You will have a different, definitely the cost competitive since I think if you're adding a cost of a warranty from the Asian manufacturer, even the cost of production is cheaper, but adding like a warranty, still the made in U.S. still cheaper. This is second advantage, close to market. Number three, this only happened after COVID, is the logistic cost. Normally, the logistics cost in U.S., if you ship 1 container from California even to New York, the cost is not too much because U.S. have a very strong train, the route, the train and rail. After COVID, the logistics cost already more than 10% from the west to east. For overseas, now the shipment, now you see to U.S., the cost is cheaper than you ship your local. Local sometimes the logistics cost is 5x even more than the product overseas. Because the local logistics make also the products made in U.S. more attractive and more competitive than overseas. This is why you see our production, more demand, more competitive. Of course the brand building is another things that will be different because local, you always can build your brand and do a lot of aftermarket service and the customer service will be totally different. When there's something, the competition, the price is important always. When the price come to some level, you don't care because it's already cheap enough. For example, electricity price and many other source of electricity cost less than more than $0.03. If you see the load and when you already cheap enough to become produce electricity about $0.03, I think the total cost of the products will be not maybe the care more for other things, and probably other things more important than the price itself. Last point, when the price come down a little, when the price made in Asia is a very, very portion of a total cost of a production. For example, now total system cost for a roofless residential system normally average in U.S. about $3, $6, $3.6-$4 per kW an hour. A module only less than 10% of the total cost. If you cheaper, if you even make 50%, you still only less 5%. The 5% not make any sense difference in the U.S. because you only, your production cost now in. For example, the module, now is our Australian team procure the module about $0.20-$0.30 per watt. U.S., we probably selling $0.50-$0.60. Even that, because this $0.20, $0.30 compared to total system cost of $4, is only 5%. Then you 5% you almost make it zero, it's still 5% because the total like products cost the from China is only 5%. You are local, you're adding other service that an overseas manufacturer cannot service. This you make company more, you can make a difference. This is why we see we are not in the same market because we are not in the same cake. This is why I think that even the Asian products is not cheap. We are not always the one to sell the cheap products. We are not in the same market. I think more and more the both from solar, both from hydrogen they will face a different market. For example, hydrogen, we also answer question on the cost. Normally the green hydrogen producing for electricity need around more or less different technologies. 50 kWh to produce electricity. the solar only $0.03 produce electricity, the solar. even 50, the cost only $1, $1.5 even today. I think in this case, in Asia to produce green hydrogen is higher. in Asia to produce the green hydrogen about 20 RMB or even more. you see really they have a different angle to see the different energy products. I hope this answer your question. Thank you. Okay. Please. Sure. Yes, I think this, if anybody has any question, I'm available. Yeah. Any questions? Yeah. Yeah. I was wondering, just really quick, what's your balance in terms of how much you guys service utility companies versus residential? Just super quick, like roughly, like 50/50 or like? Franz? Yes, Franz. Yeah. Thank you. Thank you. The question is The ratio between our residential products versus commercial products, right? Yeah. Yeah. It changes back and forth. The market really has trends. The IRA bill is pushing a lot of commercial demand more into the future right now. We started the year focusing on residential products because, yeah, you can launch them faster, they move faster. The sales cycles are much faster. The good thing is that the factory is ready to do either one. We can switch back and forth, and we can react to the markets quickly. I would say, probably a 50/50% ratio this year with the commercial part being stronger into the future. Okay. As far as I know, for residential solar, most companies that are like more installation-focused spend about like 60% of their cash flow on OpEx and like customer service and stuff like that. I noticed that you're a lot more tech-focused company. I was wondering how you guys are addressing the front of like making sure that customers are supported and satisfied after their installation is completely uncompleted for residential? Specifically on the residential sector? Yeah. A lot of residential business is supported through distribution channels which cover that part of it. If there's large residential companies that need specific support from us, we will develop those programs together. Yeah. Franz, it also answer question for why your competition from the Asian modules, because the competition maybe from the sales for market points. It's also the question always asked. They ask how the a lot of competition from China especially. Yes. This is residential, commercial, all of it? Yeah, everything. It's always a question asked. Yeah. I think we mentioned that before. The obviously the imports specifically from Asia are currently covering the main market share. We see growing demand for US-made, both on residential sectors driven by other reasons than on the commercial sectors, right? The commercial industrial demand grows because of the IRA bill specifically. On residential, made in America is more an emotional sale, and that's where we see a lot of strong growth for that reason. Any more questions before Franz and Cam, and also HK will lead everybody to our factory tour? All right. Franz, thank you very much again. You wanna take the lead or? Yes, sir. Who's interested in a factory tour? Everyone. Everyone. Lots of people. Thank you, everybody. we will Thank you, gentlemen. Cam is here, so we can split up in three groups. Yes. Yo, can you hear me? Okay. Yeah, just meet us. Yes. Yes, I do. Thank you.