The rush for clean, on-site power [partner content]

Let's talk about how this onsite power is going to get used.

What you found is actually that a lot more customers are seeing this as permanent power rather than bridge power.

So how are you seeing that change strategically from customers?

Absolutely.

Again, it goes back to that fundamental assumption that if the grid isn't available or is going to be available maybe in five, ten years out, but the economics of what the pricing is going to be is going to be very high compared to what it is today.

The customers are increasingly wanting to take control of their energy costs because it is a critical input to their own manufacturing costs.

And As a result, a lot of them want a predictable energy cost.

And because of that, we're seeing an increasing adoption of on-site power generation.

And is it simply because of long interconnection timelines, or are there other factors that are contributing to this?

I think there's also other factors.

So as it relates to data centers, You see, you need a very highly reliable source of power that gives you very high reliability and availability, almost four to five nines availability, right? And that is also fuel cells, doom fuel cells inherently have a science-based advantage because we are a solid state device.

We don't have any rotating equipment.

We can enable... either data centers or consumer or industrial customers to have the confidence that they can generate their own highly reliable power that will not have any outages.

And are they thinking that they may get an eventual grid connection five, six, seven years down the road? Or what are their expectations for eventual grid connection for some of these customers?

It's going to be a longish answer.

So short answer is most of the customers are going to Bloom Solution as a permanent power.

They're not thinking of it as a bridge.

And for understanding that mindset, you also have to understand that there are places where we are cheaper than the grid.

Why is that? Because we don't have any transmission or distribution.

or anyone else in the value chain that you have to deal with.

So it's essentially converting natural gas molecule into electron in a highly efficient manner on site.

So when you think about the grid today and you look at the delivered cost of the electricity, you actually have to add various elements to it to really get to what would be the future delivered cost of electricity.

What do I mean by that? You know, a lot of time people, Stephen, talk about, hey, you can get six cents, eight cents power.

True, but

that is the cost of power at the point of generation.