HLGN - Earnings call transcript Q4 2021

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Operator

Good morning and welcome to the Heliogen, Incorporated Full Year 2021 Conference Call.

As a reminder, today's call is being recorded. [Operator Instructions] I would now like to turn the call over to Louis Baltimore, Heliogen's Vice President of Investor Relations for opening remarks and introductions. Please proceed.

Louis Baltimore

Thank you, operator and good morning to everyone. join for could XXXX full you call. conference glad us our today year We're today's Bill call on us With are Gross. Heliogen's Founder Chief our Christie and & Chief Financial Executive Officer. Officer; Obiaya, be a Heliogen website our release issues yesterday heliogen.com. the in its that Section results at can found of on Investor press

for of are statements are future reminder, obligation a found future guidance documents include SEC events. that those new we on differ based actual including filed assumptions of the company's as which expectations Factors undertake and that call could could on the various company financial to today, risks our to be include time. forward-looking statements from no make these and can cause this we forward-looking differ and Actual materially As to call and and release operations, other materially with performance, in comments result time on contemplated the statements to statements statements. information our results subject XXXX. this uncertainties. update results in These or regarding forward-looking assumptions a press Any yesterday's by from the as

will reconciliation More non-GAAP During press information in not EBITDA. also is contained this may to measures, be the And detailed measures the substitute the website our with call turn for of was be Executive comparable to refer a a adjusted in most from release Section Gross, as call, EBITDA results. including Investor on & about addition website isolation the and These certain GAAP should we our available measures U.S and non-GAAP Bill GAAP furnished financial Chief considered X-K to in to and to measures or these I'm on the Form with company night, Founder Investor also available the Officer. call pleased Section and issued replay afternoon. last SEC. this over A this that, our which on is of of

Bill Gross

Louis, with and to for thanks earnings joining to morning. everyone today speak us our you you, first this excited Thank on I'm incredibly call.

of our as we posted I'd to If makes nature review business. X Heliogen's unique, What with like you of and of price HelioHeat, can world. sunlight. commitments heat, is fossil skyrocketing around Page the replace volatility call which earnings light our turn company on as energy is the by presentation of thermal Heliogen's world the utilizing their growing to fuel help those We why to to clean Heliogen concentrated technology to energy carbon in website, Heliogen's green its HelioFuel. technologies of Global used demand companies carbon a and the prices, with begin well believe core, and for the we be heavy of reduce At change fossil emissions. decarbonize leading-edge mission countries hydrogen. those increases, energy, HelioPower, to can the combination products industry, solar fuel provides power and or make electric free

concentrated customers oil steel needs. are costs gas powered from and industry, that heavy and a decarbonize innovated, these is address their To production has generation new modular, AI now imperatives, planning is processes. Heliogen all of scaling thermal and scalable. solar energy fossil other and eliminate and looking companies, addresses of these Cement industrial companies, company reduce critical emissions hundreds companies, huge companies, Our carbon to their mining volatility and fuel

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breakthrough approach. to inventions X, to you'll Turning see and about more that led the Page key insights Heliogen's

system before. at based temperatures graphics the maps energy time degrees advanced ever to generate automatically with older traditional systems loop This move feedback and previously a precision optimize that that efficiently with relied processing is open us Celsius, concentration, of to control tracking thermal units, to AI on closed more loop movement enabling first real XXX mirrors concentrated were than possible sunlight Heliogen to range solar with systems thousands allows proprietary only system than larger far The coupled closed we've loop the up inefficient. X,XXX preprogrammed and superior therefore tracking to sun's is from relatively power. of This

Heliogen of closed up. loop new facility to field We will systems calibration tracking Heliostat or modules counterparts. than is when also one open expect eliminate started that efficient Heliogen of their loop will Closed more weeks be loop significantly a the enable more

loop closed settles as over It's Recalibration equipment focus Additionally, our is and actively immediate Plant mirrors system, months is recalibration and open manually monitoring as needs. adjusting or operators loop X time. every real There performance shifts ground in and no downtime. and no maintenance into downtime. intensive get in the process associated can results insight the separate traditional expensive in require be field the time, systems the system and out recalibration so.

this closed smaller system tracking allows significantly traditional projects. to what's on make Heliostat Second, our based innovative us CSP AI common loop than

flying California out system designed of the as production or to size solar. This mirrors, court. as factory older out the a to which Ours curve projects. to X% our supporting construction in manufactured not may systems, take efficient, to modules previously software CSP compared various cost field. large concentrated well at siting more like our of these Nevada. as are tennis the learning space reduced as use screen as means the customers, reduction solar our up efficiently compared and much and more With instead in This to potential has rapid for a seen cost our mass in you in in PV and other flexibility panels, of This provides of smaller that large little Southern applied fields airports scale, field traditional been heavy driven can television mirrors as be utilizing have enables while

is of ours innovation third modularity. The

megawatts modularity then replicate these and our to one For it also the we modules, single example, huge wholesale commercial not of points the allows we scale X while to additional utility each are system and This target megawatts. just Modular with X allow failure. eliminating components us reduce for generating another market. use limited power build module, market, electric industrial to will to mass-produced to overall design standardize Heliostats Heliogen costs,

solar that We know better of, this. one are And like in the centralized, service solar decentralized. was we are first company the us to that industrial concentrated a is to we system thing enables that modular market. Previous develop concentrated

tremendous R&D of energy amount To of decarbonize a built patented of uniquely several winners believe to this the Heliogen and in technology. I competition race Heliogen continue to big these planet. there's against our transition, While to competition, in positioned a is intellectual effort capital, defend advance our be one state-of-the-art and strong the horsepower has innovations, to

Heliogen to For us create our business. will our and investors, wide enable believe mode around we unique competitive a these advantages

customers, our road, want can this game may technology technology For to others. large in license this changer. and this down to a We the scale very we be way a

batteries. XX/X media, cost and enabling Another of key one flexibility thermal storage such with or will the beyond operation can that technology most intermittency. that renewable the energy the and ceramic than solid temperatures, energy footprint near problems as in solving to achieve energy store sand, huge rocks, Heliogen's higher shrink less modular advantage expensive Heliogen can provide dramatically cost Heliogen is is Because and low-cost

flexible that of and need plans Industrial about capacity customers for scale, preferences. will in in a technology factor, support Heliogen's meaningful While on and uniquely most overnight. and to to is application, because is those the flexible means days, customer of continue goes Heliogen's is be run It cloudy sun it of up will systems on capacity called XX% provide after that able is time, to typically renewables customers What and build it power occur not to flexible this provide this its use. did between needs. provide the XX% depending factor Heliogen XX% down, But to time technology they the flexibility. and

of to made to design, Page innovation, concentrated in spent Christie over I'll receivers talk progress to And the with full the our have our efforts temperatures we've about at in continue generation that we it Our X, the themselves, year of execution California a the Lancaster, talk the turn control past the to plant fourth or aspects sunlight facility the we described. that innovate. turn we XXX-kilowatt commercial XXXX. technology of and some will over From of our to more record to and now the technology, has progress. of team about technological improving modular completed years on achieving test we I'll later, mirrors the are demonstrate Please X goal our all sunlight systems from end And innovation. so. To system

carbon and proven have system, the demonstration free production. scale, storage, a we steam the tracking Here

Energy we than significantly much efficiently our heat expect the hydrogen at technology successful with during combined renewable solid than temperature Energy's trials the to we These is for electrolyzer the fuel a significantly to with solve reduce our produce capital these Substituting solar oxide, nearly front, struggling thermal proprietary able producing production they low-cost since improve process trial Bloom solar economy to a so thermal our with energy much XX/X. hydrogen site. solution, held storage Lancaster two Bloom electricity that Heliogen's cost the technologies, cost alkaline efficient demonstrated and we combined By electrolyzer produce of be some high trials Heliogen electrolyzer to green will source of traditional and that PEM hydrogen green On today. energy Bloom recently Heliogen's proprietary When with is efficiency renewable electricity. the by aim can in combining hydrogen. use the hydrogen more problem powering heat electrolyzers. together and more the further

exclusive generation. to support $XX to part largest types energy Office evaluation Department of scale in technology, December, a award develop an and of Land very advantage of advantages technology water year. unique be with production, projects usage, we announced lower could energy lease a These channels. Fiscal deployment Heliogen's Year more a ample announced equipment should We of plant for Technologies recognize has Solar unique within potential the Zone After DOE Energy up that location of of process, for funding hydrogen footprint In also combination Energy as prospective to we and costs, per hydrogen of with alternative award size production plan the award site the metric system and the Solar This innovation Arizona, devote compared received site as commercial Management Heliogen's where rigorous Bureau due of supply to the program. U.S power the key an sold million tons lead in of DOE opportunities XX,XXX for to to agreement Brenda commercial to that expansion of to green In the execution we power of customer February, to water to the innovation, the distribution to we its our our close for of competitive customers green continue other capabilities. the is XXXX take and renewable solution. ideal proximity and greater from significant our the to

work provide to mission you we progress. shareholder update with an and now our on I'll deliver As operational value, create our on

lines, who turn Long to be XX, Supply see facility facility by Beach, a you our our Heliostat facility Chief and we've chronological to site believe while ability finding SpaceX rapid It effort. year, performance our us robust expected efficiently while this preparation in Officer to of out innovating increasing If announced for lead to from us what production this and Andy in us facility led production assembly will you the squeeze deployment for Lambert, have we With Page to reducing Production and center costs. operational February, give and we This costs, for Chain rapidly over test Heliogen's will order. also will ways laid you'll state-of-the-art to our to data manufacturing initial systems. California. continue came In be out manufacturing ramp

for also in the efficiencies, efficiencies for the facilities deploying In will operation we we addition to continue optimize manufacturing customers. are to

successfully have it, call will we Autonomous demonstrated Utility do ICARUS we things. Installation as Robot & announced Cleaning Solution several or As allow Heliogen our we December, in and to now which

consistent, enabling possible First, cleaning heat mirrors, and the of of highest function optimal our systems. generated ICARUS's will maintain of reflectivity efficiency our maximization

some to our efficiency repetitive Heliogen tasks to by able larger required ICARUS labor positions eliminating projects ongoing by improve term Second, on longer of the humans. be

ICARUS of facilities. deploy full to our cleaning expect of We the function first autonomous with one scale

rest of Page XXXX, and key During a execution to we series aim the as milestones, summarized commercial achieve XX. of on

CFO. our turn Christie Obiaya, Now I'd like to over to it

Christie Obiaya

for Thank to and you, joining Bill, everyone thanks us.

progress. for XX% in year been the important on focused a recognized our employees emissions. for largest XXXX. an several XXXX, part systems changer have from was on the XXXX all due world's strategic hard commercial value to as forward. Tinto one largest now announced the laser a investor driving is their global by largest operators, their work Heavy goal to emissions in Energy, have about operations decreasing major our companies, who business of by stages recognized and is start industry relationships the they is of to I'll could out, a companies, talking Heliogen, potential steel industrial And mining the carbon laid our compared energy contributor Woodside game our in of one just commercial have of as own these by beyond, Bill a As in of with our ranging several already heavy our and various ArcelorMittal, business to Heliogen, Right recognizing technology being Rio This as carbon which including progressed steel. with fronts. and as in ArcelorMittal. was have many we

we XX% early together selected that be their their their mine during and we emissions and and discussed the decade. of gas now facility. engineering the reduce working metals deploy company, for has one XX% Boron, provider in currently multiple and work California. our Woodside intensity absolute commercial that to As procurement first Last by finalize at full global scale arrangements in module to year, and with with the California. last commercial Energy, one of Woodside Heliogen structure in Rio contract of scale by also We've for commercial our year, we targets announced for largest set the began this design Australia, is modules the many to strongest Tinto, modules they've on as partners, the have to the potential We've mining been them, a carbon them. to

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partners. detailed are supply We engineering engaging we and work, performing are chain

a We marks begin plans. major once construction is This permitting commercialization forward expect complete. to contract step our in

opportunity As award part in power energy addition test year. funding Heliogen solar the that DOE deploy award we've Heliogen's project of is will first will the from approach that get to to module. we with and a new synergies has provide combining Woodside approaches. both traditional project, a and finalized last than the of with include and X-megawatt that that potential Department more converting to the thermal Woodside into power our What we demonstrating project. Energy Therefore, Woodside from means This that agreed efficient scope that positive U.S be to

really will our operations identify heat, within collaboration include invest benefit portfolio. owner commercial this well towards scope familiarity after the and XXXX Australia. they opportunities company. Australia, Woodside and prospective join has and merger Heliogen signing $X with project industrial plans announced signed agreement also to billion is operators could for in And portfolio, addition from hydrogen opportunities access year decarbonizing collaboration Woodside The BHP Australia set to Australia's customers as with own Heliogen's the Woodside that of its to technology. unique recognize have with market in to as its and technology In scale contract, a become Energy with largest Woodside Billiton deploying Heliogen's to public We power energy by portfolio.

markets technology. and achieve its to partnership about enthusiastic for transition our one this to largest targets, to our of expand help global energy business we're So, the Woodside

with our strategic participation. alliance that are pleased share equity along We includes their with these to Woodside agreements, also

make customer We additional progress on continue to opportunities. new

as to we As and by governments, the expect and be we imperatives by to by look our future, well require private associated local the efforts enhanced investment. industry national decarbonization supportive as

to who learning For just the those let Heliogen market. story, commercial may approach our explain be me about

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let for of of model building the of provide Now our our overview me business process turnkey an steps typical projects. sales initial

have customer into will Heliogen's we sheet understanding. for say heat of the Let's which discussions, using begin then full typically term multiple we interested begin facility, technology on modules. we enter for When a project. example, often will we negotiations And or memorandum in be a

month agreement. During the revenue as customers that project, the we provide contract earned of the begin full revenue final have through operations appropriate similar negotiate construction we the execute we Once completion full commercial financial process how expect through a phase. build prospective project, outlook to to our in XXXX. project which powers. place, the recognize we're during and we facility. as engineering, expect their under going build on we contract. that sometimes and Hopefully our engineering project investment contract billed sense stages earned to procurement revenue we gives of to the will and it's our all ongoing that scale a be decision unfold that the we contract customer will we multiple time, you maintenance with on a Typically, the After a early Then a separate now. out services, goes And in earn services, to early of to

X presentation, if XXXX guidance financial in I'll the for the Now, turn well for to some you Page through as XXXX. as key walk highlights

reported share We investors, class projections world duration, in scale of our strategic and the first $XXX Stanley work million facilities. consists we This available at short million management, of corporate million with revenue cash and Technologies. consists our XXXX for of XX%. equivalents quality business are $XXX revenue primarily financial XXX sale liquidity and investments liquidity with consisted from of by to $X.X million. engineering approximately The study maturities These includes our credit including XX one Heliogen and investments between XXXX, following ArcelorMittal. bonds Morgan combination that prior of exceeding $XX Athena for sale of ended pleased For commercial That million for investments of purchase. investment available with cash $XXX and high days total

X our this for initiating guiding million XXXX Turning to contracted, modules $XX Heliogen and range million guidance, we to X we year. to $XX guidance of of revenue are to are a

are of We projects. still in the early stages our

of we've on So, falling in of short there expectations, a outlined as are Page XX. number these exceeding that us could result uncertainties or

described the useful under of converted believe these indicator modules that the a Over moments of numbers our ago. that business More we time, to I contracted importantly, to revenue products expect we number be technology. the for few and around Heliogen's most is the demand models contracted guidance currently

industrial operators demonstrated we as benefits. result technology, grow the of initial to expect make more of a purchases demand As our

of customers' HelioPower more with to to that for supply our HelioFuel. is goal energy HelioHeat, replacing existing and Our more and lead

supply our our the mitigate of closely raw energy capital to inflation, close, company is as driven we I'd involved and partners customers business with not to are impacts Like working possible. our we as a cost these inflation. Before impacts and mitigate material in these tight immune commodity projects, much how We're to on chain business. price impacts to any working address like

team materials. goal costs designs our have of our for engineering chain to our supply usage gone and the of As challenged them materials, reducing and with we've increased system to partners impacted the certain reexamine

commodity pleased are financial effort At us manufacturing, future to recognize so the unavoidable, much and of deployment with through fuel And and more in inflation increases We help fossil challenge future. that with our hope this help technology, are and as customers overall price so driver to relative we we be brought far, lock from major as that there same they've more of to forward our by automation a the We the we cost look are while prices, term focus by our on clean can well this are the sharing installation you industrial and the inflation more fossil of energy. for our longer alleviate maintenance price are cost use labor for of increases. future a largely to will directly energy in technologies. time, impacted certain in able rising will who operators burden customers powered fuel future alternative insulate

our generated our future from fuel cost fossil entire While of project's eliminate of will products project. fluctuation exposed input energy the the movements price over lifecycle, fossil impact burning life is the to fuels largely over

are around customer Our fossil mining mostly fuel long, the today companies. up companies world. companies prices the naturally driving commodities These pipeline of many and is

to clean to a our Since pay increased more those result. price flow is and products as a fossil they're fuel for provide energy, making equivalent revenues are solar input costs our goal So, what cash increasing seeing they at energy competitive.

rely the to legacy energy and but on terms As of our compare alternative to benefits materials. and raw of sources want in costs seeing point only precious rare most than other that their the we're the our I metals out also customers energy, prices earth significantly of of commodities that increase not technology, more to elements we systems, the

Bill And energy turn a be now believe to climate some change, Heliogen's energy So closing for solve clean with result, all to such be we alternative technologies although attractive will an like technology will clean it other battery to that, lithium-ion remarks. storage. as needed back to I'd technologies, as

Bill Gross

Christie. Thank you,

subject how work help please it like saying I their these X. I'd And fuel companies call save by industrial cost we expect such we major large we witnessing from to a growing eliminating reliance fossil is fuels technology we to technology. by shocks, cutting to its reducing and intensive in edge industrial supply proprietary the to their as production. as turn money to Page companies now. help are that solar differentiated today's to conclude notoriously are the seen am by Q&A, up underpinned market same processes. right on software before is by and to fuels that Heliogen by lead Before leveraging fossil offering to Heliogen product This energy thrilled generates open decarbonize efficiencies never energy

maintain one too trade the our to secrets AI across entire patent field as extensive to our well to The of this advantages. On that and extends of I've technology chain defend together one expect high worked We is we top costs. this, beyond this us stage help value the to reduce potential growth the and learnings of software competitive with best plan ever company's these suited teams we of all lifecycle. innovation portfolio, have apply put

businesses to new progress need plays further life in times highest it and right, retain progress industry And GDP. Earth, critical to Thank of the in people organization XXXX. you and earlier more now on harness the large. I say XX,XXX market. biggest attention, continue sources a in is much. we and on fast that recognizes award The for forward that list and timing your Thank particularly renewable and for Q&A. their that, the The going energy. on XX the role and right profitably of culture sharing make is help is all are our at our in your nearly open These of earnings up industries it's making very and impact been our attract world for provides my comfort, month to most answering place the for mission of companies energy. you dream honored calls. biggest forward I as focused company's innovative future all sun named the What's only on of cost this demand we Heliogen quality, am The our the we're world's and a and safety look all grow goals, to today humanity's a The highlights was As effectively annual much on the Energy of us needs. whole. the sorts time. you look With will our so we right the questions. to line than to with accolades

Operator

Research. Our question first Instructions] [Operator proceed. Wertheimer Rob comes with from Melius Please

Rob Wertheimer

Good through the business. be of energy to a maybe had on on to bit. scarcity. and the But technology great has going of touched who's -- little question need is to you interest, and and with this somebody you assume that if interest I sort those know scale need you've into for gone prospect some you. funnel, have And steps a My prospect that some with energy the up you you your is I contract? up? talk considerable have everybody. convert of that a gating the sort interested factory the do factors steps your opportunity, prices Hi. do in demo Europe of of contracts. What you of your Are morning, Thanks Christie, into summary funnel issues I the kind Thank how just can and mean, would? you in a full turns

Christie Obiaya

all going absolutely on question. both Yes, volatility, going the terms can fossil to what fossil that fuels We for need weeks. Thanks of we protect costs you're have price fossil of anything, if it's as risks Yes, as projects, for of light between if mitigate that question seeing the In ours demand emerge that there's customers good of you geopolitically that's to anything, are recent against shown potential market. joining see and price to Rob, fuel of morning. we're this side, geopolitical fuel for us. Great the the fuels, that increased we've to us in from to few for volatility talk right. over greater and in be months prospective technologies on the providing at like greater the this their time, and a energy the past the fossil seen likes the well scarcity our the that and provide life fuel physical stability, thanks

terms near-term seeing demand, of offering. a of And so, in lot our heat actually particular prospects, our we're for in

is our of announce our negotiations one continuing those and things to we've a engaging the project Energy. first number so, of the with We commercial Woodside scale opportunities. progress discussions that been to were formal on customers of doing thrilled And prospective signing and contract with

huge a for us. milestone that's So

norms I firms. what what recently, their largest but and in that global similar the engineering they see We others provide to experience soon. that the look of go somewhat, to month process of deciding about been you a really bit energy have the then contract. by that, industries And Rob, asked a one the forward can XX terms across multiple the it And just division, way I the I factors. process of sharing the of works is broad services a to we timing in most it varies of the of the have can what are number in And targeting. and more terms does of I've years industry CFO at for to really say, spent by background, we're one of gating that Heliogen, coming prior about It typically. procurement a with vary forward And of kind construction to range I to

our a contract, an And from start move what oftentimes, we other saw services in gating that to with last won't forward we'll as like on And a have engineering times, function year. revenues so project. you

our essentially, of anything terms the the kind looking we're of seen market, interest close what Woodside that's level progressing with we saying if and of additional we've in prospects, increased to long in of the contracts way Energy. announced So yesterday beyond forward

Rob Wertheimer

I just with might that perfect. lot is don't a feel sort that is for what minor are can if when product I Okay, tight. you. more clarification, little industrial of But Thank Christie, you. use supplies demand stuck be I'm Europe sort industrial gas be a with mentioned, there. specific use? that Thank there's know or bit any of can And know explain that I a done the you that. just heat you

Christie Obiaya

are that's of opportunity we're seeing thanks. Certainly, market for ones regionally, largest emitters as carbon lot looking country energy, Australia. Australia the as has we of in users follow-up. are and some in the Europe. on in The the especially a terms at operators owner Yes, Thanks emissions. that of of major well industrial focused where a of of

where given seeing And who opportunity especially access we the has our for with Energy, one market, area see, unique a of that's heat demand lot that products. partnership especially that heat to we're Woodside so, with

Rob Wertheimer

Perfect. Thanks.

Operator

do are proceed. There over we Melius a time. further no -- in with to Research. Please would Instructions] questions follow-up [Operator the to Mr. turn queue have back call from this Wertheimer I at like Rob question

Rob Wertheimer

Oh, I'm hi. sorry.

you there order think operation? assume of you to first go fully don't I like have in to Is actually challenges steps we sort sort about I just be Can for When contract manufacturing technical ask I similar operating on done I one Is taking the talk made you've ones. progress final? be cetera. wasn't the production modules, contracts to a assume the of in the some from to about and those et you of talk to that just the what needs the from one-off to to wanted building ask to sort about kind get any contract Thanks. the Heliostats moving solved? it need much rebuilt? Can factory. you in you're of So, just sort too up I wanted walk-through focus of more of if time. Bill question

Bill Gross

And right build now to an ramped up in is the huge Beach, Long building as are Heliostats heliostats the year. project. project scaling California, the is that the It's the thing have factory the that that which of it, as field. huge future at to first then construction of XX,XXX in the system. part and erected novel the this field -- capabilities. you, energy, make magnifying in know all And and solar to solar takes that the of receiver. majority the collect of our can all fit that's you just all technology about glass we in of be where of acts and Because that has many, on we Rob. And our projects energy will them be And I well. two square field. field a The The critical failing projects producing that those the able Heliostats the we collect up labor The the concentrate But get throughput tower novel welding for think, part factory and us process be up and that will produce and because we acres. commissioned, to the will the tower parts. our There's factory. receiver take second allows nice technology, enough of in of the up the main half many Thank factory the as for then and foot our them away line manual that a small are in container, assembly shipping and

Rob Wertheimer

complete mean, they any know production is run wise? execution there else to that, back I is the design technical on I factory challenges you've you modules? Perfect. the that are Or simulations forth, working I in And know facility, more you're it still demo and anything have

Bill Gross

first heliostats as very need. at scale we Right now soon scaling to commercial scale that possible. was full for as production the that full the are the demonstrate project at we in first to produce And project very, quantity excited

Rob Wertheimer

the hop last scale in And business you Perfect, come funding I'll and know, the I thank can, one ample But flow for off. ways seem up if ample it's or I'll you. to just people And move you're I'm have there. who think I'll DOE funding a this lot we Thanks. of curious little next? sort a Do cetera? through of bit in business should et about about as fund into the opportunity receiving. you stop how you cash for have XXXX. Or I convert. kind year projects, could in test prospects Christie, of ask funding one and obviously different to And want

Christie Obiaya

Rob. Yes, great question,

And terms for funding. to to our close our the in indicated, our like well including in near-term of XXXX tower, our funded. you goals, being are end laying that of need putting us hit first of So, able milestones, includes we terms near-term

in near-term our to And we're good support a position, so, able really being goals.

of in for other we're funding, for forward. local Now, at not sorts but Department the terms provide Energy what sources to our projects looking incentives of and moving of and those of things us, in federal our only helping additional and of customers other terms are for support absolutely on horizon,

And fortunate we're of as absolutely in that's because kind fundraiser, well, on. when of well be of your we're funded. very that's to And source so out we that then think another inherent focused be terms funds for another might I question in

having of more And need than that's so, that urgent kind position of strength driving from at rather really be an opportunistically we're looking a that us.

good so, about guidance we’ve completed that to give And terms issued this strong guidance us we three feel year, us achieve gives of the projects and really X contracted path a XXXX in to -- for X that. our absolutely targeting modules in

that about really say good I where we are. feel so And would we yes,

incentives some as look to getting of of great the lot much exciting funding. is other we will forward news as absolutely a momentum, have possible fair giving We share DOE and our that us and

Rob Wertheimer

right. Thanks, everybody. Perfect. All

Operator

back Bill like At this call to Mr. to over for I comments. turn the time, closing would Gross

Bill Gross

very for much, your soon. us progress. you can't on Thank and your things. everyone. really forward to future attention keep really, We're you about more we look and for excited our thank updated We to wait in belief Well, talking you

Operator

This concludes teleconference. today's

your lines and this a disconnect great you may for your time thank have at day. and participation, You

Heliogen (HLGN) 29 Mar 222021 Q4 Earnings call transcript