Eric Dresselhuys: Yes, sure. No, as we said in the prepared remarks, we remain very, very excited about the potential of this relationship. We just had a whole group of people from Honeywell out starting to kick off planning and targeting specific customer projects and development projects just last week. You’re right; they did a reorganization that is actually, I think, fantastic for us. Joking aside, the new group that we work with is called ESS, which is kind of funny, but it’s environmental and sustainability solutions within the Honeywell world and that’s what we are, we’re ESS. So I think Honeywell made some really smart moves to help align their business to really maximizing the energy transition. And I really hope we’re going to be the beneficiaries of that.
Operator: Thank you for your question. Next question is from the line of Brian Dobson with Chardan Capital Markets. Your line is now open.
Brian Dobson: Yes. Thanks very much for taking my question. Just a follow-up on Honeywell as well. So it’s been a few weeks since you inked that agreement, and it may be too soon to comment on early results of the deal. But what have you heard from other potential partners and clients as far as such a marquee client?
Eric Dresselhuys: Brian, that’s a great question. I’d say we’ve heard a couple of things. The first is, I think people have appreciated that a group like Honeywell, maybe they don’t move that fast. It’s a big corporate organization with a lot of people and a lot of different groups. But that, that has really helped validate the diligence and the work that they did. We tried to work it into the prepared remarks because some people asked us after we announced the deal, like; did this come up in a hurry? Did this come up in the last 30 or 60 days? And of course, as you would expect with somebody like Honeywell, this is a process that kicked off in late January of this year and has gone through an extensive amount of diligence on the customer front and the technology front and operationally.
And so the probably single biggest thing we’ve heard is that the validation that it’s given to ESS as really being the right technology in the right market space is the number one thing we’ve heard. From specific customers, of course, there’s definitely a feeling that says, wow, if Honeywell did diligence on this and they’ve given it the stamp of approval that puts you in a different category than all of the other non-lithium alternatives that are coming to market today. And then, the third thing that I think is interesting is, and we’ve talked about this on previous calls, at a project level, the projects that people are undertaking are increasingly complex. They might be putting in renewables plus storage plus green hydrogen production. And our business at ESS is just to provide the technology for long duration storage.
So having a partner that’s got the kind of scale and breadth that Honeywell has, I think is going to open up market segments that go beyond just standalone storage or storage plus solar into these more complex use cases that we see great opportunity for in long duration storage.
Operator: Thank you for your question again. [Operator Instructions]. Next question is from the line of Colin Rusch with Oppenheimer. Your line is now open.
Colin Rusch: Thanks so much, guys. As you start to wrap here and start to approach pretty significant volumes by the second half of next year, can you talk a little bit about your working capital needs and how your supply chain is starting to mature to support that?
Tony Rabb: Yes. Yes. Colin, hey, it’s Tony Rabb. Thanks for that. I think that we’ve made quite a bit of progress in terms of enhancing and improving our supply chain, both the process and in terms of the vendors that we’re working with. That being said, we’re still working through a number of different changes with a number of our vendors as we continue to scale and grow the product and as we work through the energy center development. But in terms of working capital needs, I anticipate that obviously, with volume, the overall dollar of working capital is going to go up. But the amount of actual working capital in terms of, from an efficiency standpoint, I see that the weeks of inventory or weeks of working capital and the percent relative to sales that’s something that we believe will be able to improve over time.
