Longridge is doing great in January, February, and we expect to continue to do incredibly well. We got a ton going on at Longridge, and I think the next several years for Longridge are going to be super it’s, this is we really do believe an isolated event strictly related to the original construction of the plant. So fingers crossed it’s all behind us.
Giuliano Bologna : And I’m curious on the long run side kind of like, what does it mean to be designated as a hydrogen hub and then just trying to get a sense of like, what that could mean for contribution or an impact individual?
Ken Nicholson : I mean it’s not in our plan of course. I think it would all be incremental to our expectations, but materially incremental. There will be four applicants ultimately awarded you know, just under 80 originally applied. They’re down to a short list of, I think just more than 30 after April’s applications go in, they’re going to cut that short list down to less than 10 and sometime later this year four, maybe a couple more will be designated as hydrogen hubs. Look, we’ve got great partners. We’re not applying on our own. We’ve got a couple of partners, very big names who are applying with us. It’s up to $8 billion of total grant funds that will be awarded. Obviously, that’s extremely significant. We have a significant amount of ample land for carbon capture projects that could benefit from that grant funding.
So, it’s this year’s business in terms of the designation, in terms of what it means and when, it’s probably a couple of years to build out facilities with those grant proceeds, but we’re excited about it. I think, we’re really well positioned.
Giuliano Bologna : That’s great. And then, over to Jefferson, I’d be curious about the ramp up of the blade refinery extension, and kind of how fast they can get to full contribution? And then, maybe sort of beyond that kind of what other initiatives underway and kind of how did the margins work with any incremental volumes to get closer to the 80 million number?
Scott Christopher: Yes. Well, I mean, the contract commenced January 1. The blade expansion, the sequencing with precision of the commencement of the contract, and the 100% completion of the grand of the blade expansion was not a perfect science. The blade expansion is coming online during this quarter, and it will be online in full, fully ramped up. We expect, as I said, on April 1st. It’s a $2 billion project for Exxon. And so, I suspect that for this quarter volumes, and payments will be closer to the minimums, the committed minimums in the Exxon contract. And then as we transition into the second quarter in excess of the contract and in line with our expectations looks it’s a 30, 40, 50 year life project. And so it’s a big deal.
It’s huge for us. It’s huge for Exxon. We’re excited about it, but like all infrastructure projects it’s the timing of complete ramp up is not a perfect science. I think, it’ll continue to ramp up this quarter, and then we’ll be ramped up as we swing into 2Q.
Giuliano Bologna : All right. And then on the Repauno side, I’m just curious if you kind of discuss the new contract that you signed there.
Ken Nicholson : It is hopefully the first of additional business with this party, and other party. If the contract is a multi-year contract, as I said, with a major trading firm for the transloading of butane, and ultimate export of the project, of the product, it does not use the entire capacity of Phase 1. So there is additional capacity. And the team down in Southern New Jersey is working hard to continue to increase capacity utilization of Phase 1. I would say it uses maybe 50% to 65% of our capacity. What we like about the contract is it’s just stable cash flow, we’ll generate profits it basically will hit our $10 million target just with what we have in hand. And it allows us now to really, proceed and focus all of our attention on Phase 2, and Phase 2 is really what it’s all about.
