And so electrolysis and with the growth of hydrogen, both as a replacement fuel or an additive fuel to traditional hydrocarbons, as well as transportation, we see strong growth there. We think our differentiation on solid oxide electrolysis, both from an efficiency standpoint, reversibility, the ability to use the same stack for hydrogen production and power generation, we think will give us some advantages in the market. So I think, looking 10 years out, we certainly see strong growth on solid oxide, we think it will be a significant part of our portfolio. Where we see growth in carbon, though, as you think about the platform today, but ask you to maybe think about it slightly differently, 10 years from now, because our carbon platform is the driver for carbon capture.
And we think that is a big market, like I talked about, that’s $1 trillion TAM in the way we see it between now and 2030. So I think what you’ll see is strong growth in solid oxide, and perhaps some power generation, pure power generation applications. Maybe solid oxide becomes a bigger part of our portfolio. I think when you think about hydrogen generation, we certainly see that solid oxide and electrolysis takes on a bigger piece of the opportunity for us. But we still see opportunity for carbonate like for our Tri-Gen platform, like we’re building in California, because there are going to be markets where water is going to be a constraint. There’s going to be markets where there’s strong power markets where a platform like Tri-Gen actually is the better solution for that particular application.
So we see strong opportunity for carbonate there as well over time. So I think you’re going to see an application makes difference. But you’ll definitely see strong growth in solid oxide for sub-megawatt and electrolysis.
Manav Gupta: Thank you so much for detailed response.
Operator: Your next question comes from the line of Eric Stine from Craig-Hallum. Your line is open.
Eric Stine: Hi everyone.
Jason Few: Hey, Eric. Good morning.
Eric Stine: Hey, good morning. So maybe just on the product side, I know with the POSCO settlement you are kind of freed up in Asia and you’ve been made — you’ve been making a number of investments in this area and over the last couple of quarters more optimism of traction there. So just maybe if you can give an update, I don’t know if it’s by geography but just looking for any details on a potential pickup on the product side?
Jason Few: Yeah, so I assume you are maybe referring to like product sales, is that what you mean by pickup on the product side?
Eric Stine: I mean, product side. Yeah, product sales adding a backlog and obviously traction there, something you’ve been targeting?
Jason Few: Sure. So I think when we look at our pipeline today, we see pretty good diversification geographically. So far we’ll look at Asia and North America, probably representing the biggest aspect of our pipeline, Oceania, and Europe kind of making up the balance, or the larger portion of the balance, and then other markets around the world. So we see good geographic diversification in terms of the opportunities that we’re pursuing. As we speak — as we look at the pipeline, and we look at it from an application standpoint between hydrogen and electric power generation or traditional combined heat and power, we see strong opportunity or a pipeline across both of those. I mean, hydrogen is obviously growing as an opportunity in our pipeline.
