Heliogen, Inc. (NYSE:HLGN) Q4 2022 Earnings Call Transcript

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Jeff Grampp : Got it. And on the Gen 5 heliostats, some encouraging news there. Would you say those are kind of commercial ready, if you will, in terms of future installations? Or is there some more work to be done internally? And kind of a related point, any kind of cost quantification that you guys have in terms of what that would provide to you going forward?

Christie Obiaya: Yes, absolutely. Great question. So on the Gen 5 heliostats, I’m really proud about what the team has been able to accomplish there. There is still work on the manufacturing side to be able to implement the design on the CapEx that we’ll be implementing the Gen 5s, the heliostat design and how that actually gets rolled out in our manufacturing facility. But from a timing perspective, it planes up well with the perspective for future contracts, including the existing contract we have with Woodside on the Capella project. And so that time line will meet what we need for delivery to the field. And so that’s the nature of the work that is to go on the Gen 5 heliostats. And from a cost perspective, the delta between the Gen 4 heliostat and the Gen 5 heliostat, when you consider both the cost of the materials, the production, the transportation and the installation of the entire heliostat deal, it’s about a savings apples-to-apples of about 75% for the heliostat itself.

And to give you some perspective, the heliostat field represents, depending on the nature of the project, anywhere between typically 15% and 30% of the overall project cost. So it’s a significant improvement that the team is able to deliver here.

Jeff Grampp : Great. I really appreciate that color. And if I can sneak one more in. I know this was only announced a few weeks ago, but any kind of early findings to takeaways you care to comment on regarding the Corporate Strategy Committee? Or would you say some of the commentary today is kind of embedded in how some of those conversations have been?

Christie Obiaya: Yes. Jeff, I’d say that’s spot on. It’s exactly as you said, the committee has been incredibly supportive. And the remarks from today reflect the oversight and the support that we’ve had from the committee and really looking forward to continuing to flesh that out and look to them going forward.

Operator: And we did have some questions submitted via e-mail, however, they’ve been answered already. I’ll now turn it back over to Christie for closing remarks.

Christie Obiaya: Wonderful. Thank you. Well, really appreciate everyone’s time and attention this morning and all of the support that we’ve had from people calling and e-mailing in. We’re really excited, and our entire team is energized by the strategic goals that I outlined for you earlier on the call, and look forward to delivering and updating you in the months to come.

Operator: And this concludes today’s conference, and you may disconnect your lines at this time. Thank you for your participation.

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