It’s still taking shape. What is going to happen first from our understanding of discussions we had as recently as this week is the government is going to form regional hubs that are really sort of anchored by wafer fabricators. And then people will be associated with those hubs, whether they’re universities, technology providers or semiconductor companies like ourselves. And then we expect to submit proposals related to target applications as well as some longer-term silicon carbide development under the Chip Act as the funding programs get put in place and they start to roll out some other solicitations connected to the chips Act through DoD and DOE.
Jeff Christensen: Thank you. We received some really good questions. We have more coming. And in the meantime, if investors, you can submit your questions anytime within the meeting webcast by typing them into the Q&A button on the right side of reviewing screen. The next question is, how has semiconductor €“ how is the semiconductor supply chain disruptions impacted the company to date?
Dan Brdar: And what will be the impact as you commercialize the technology and start to ramp volume.
Tim Burns: Yes. So on the supply chain side, I mean, the disruptions have had little impact actually on us to date. So we’ve intentionally made sure that we’re dual sourced, not tied to a specific geography. And we also have things like wafers. We ordered wafers well in advance, so there wouldn’t be any disruption to our wafer fabrication runs. I would say the bigger impact in the semiconductor supply chain disruption is really consumer electronics. So that’s where you probably saw the greatest impact. But for a company like us, it’s in power and we’re still operating in relatively low volumes in terms of number of wafers we’re processing, there really wasn’t a significant impact. I guess looking forward as we start to ramp volumes in 2024, we don’t expect our commercialization efforts to really be impacted by the semiconductor supply chain disruption that’s really working itself out as we speak.
And we’ll continue to make sure we have a dual-source strategy, continue to make sure that we have suppliers in different geographies, just for geopolitical risk. And we’ll just keep dual sourcing as a key part of our overall strategy.
Jeff Christensen: This comment and question was posted to the portal. In my discussions with Ideal Power shareholders, the investing public is fixated on automotive only, even though your technology will span multiple economic sectors and industries. What can you tell us that will help appreciate the broad economic potential of B-TRAN?
Dan Brdar: So yes, electric vehicles are obviously getting a lot of buzz just because it’s one of probably the 2 macro trends that are really driving growth in power semiconductors. But right now, renewables is already over $1 billion IGBT market. It’s already enormous market. Energy storage is becoming more and more prevalent and that will be paired with renewables. So that’s a very large opportunity. The circuit breaker market itself is enormous. Now solid-state circuit breakers were really the enabling technology. So we’ll have to see what we can displace in that market. The filler circuit breaker markets over $25 billion in total. There’s the EV charging infrastructure that’s going to be put in place. So there’s a lot of significant opportunities for the technology.
It’s really any application that requires power semiconductor devices and we expect to generate significant revenue from areas other than electric vehicles and earlier than we will for electric vehicles, even though EVs is obviously a great long-term opportunity.
Jeff Christensen: Thank you. Will the phases essentially be the same for all automotive OEMs, please provide additional information on the definition of Phase 1. And would milestone payments be triggered after Phase 1 or Phase 2?
