KR Sridhar: No, that’s a very good question. Look, CV stand and even how it’s structured, from a financial perspective, should make it easier. And offerings like that, that’s prepackaged, easy to understand with very few contractual details. Make it easier for an EPC to put that in their catalog and offer it to their customers, number one. The fact that we have made installations so simple with our [indiscernible], where very soon we are almost there, it’s almost like a plug and play appliance, like an HVAC appliance. We — over the last three years, we have made that progression, that’s all positioned so we can exactly do what you’re saying. And as we scale, that’s clearly the model that we would want to see where a builder, a developer, a EPC buys our device, use it like a HVAC appliance, puts it for their customer as they do it, offers it in the early planning stages for any remodel, anything they need to do, whether it’s brownfield or even architects, start looking at this and electrical and mechanical consultants start offering it to their customers as an option.
So that’s how we think about it.
Operator: The next — your last question comes from the line of Martin Malloy with Johnson Rice. Your line is open.
Martin Malloy: Thank you for taking my question. Wanted to find out if you could maybe give us an update on your carbon capture technology and the development of that.
KR Sridhar: So we have — we are making extremely good progress on that. So our carbon capture technology is going to be helpful in two different ways, right? First is for large-scale applications where there’s a sequestration available close by, it’s an ability to produce zero carbon power and using our technology. There, we are making good progress, early stages with a lot of potential customers on how we can find an off-taker who wants that zero carbon electricity and these will be the 5,000 megawatt scale. That’s how it makes sense. Secondly, the serious excitement today about direct air capture because of the incentives that are being given on the per ton incentive of CO2, if you do direct air capture, those big projects require a lot of electricity and they have to be clean.
So using our technology and our carbon capture, they can get that clean electricity and be able to include the carbon dioxide going from us on the 45q into the sequestration. They both are serious opportunities and paint that on the larger frame. For us to get to, whether it’s 1.5 degrees, two degrees, you name the number. For us to get to any of those numbers, the world is going to need carbon capture and sequestration. There is no other way, including everything else. That is one piece of the puzzle, and we are uniquely suited to do that. We are excited about it.
Greg Cameron: This was the last question.
End of Q&A:
KR Sridhar: Okay. With that, thank you again for all of you for participating in the call. Whether it is our core technology, the business model with which hopefully you’re looking at the numbers and agreeing with us, that this is a model that leads to a very profitable business. If you look at our capability with hydrogen, two ways, producing the hydrogen with our electrolyzer, using hydrogen as a fuel cell. Whether it’s hydrogen, natural gas, being able to do cooling with our CHP and being able to offer carbon capture, whether it’s straight natural gas to carbon capture or carbon capture for direct air capture. Bloom has it all. So we are excited about where the future is and look forward to updating you in three months. Thank you.
Greg Cameron: Thank you.
Operator: Ladies and gentlemen, that concludes today’s call. Thank you all for joining. You may now disconnect.
