you, Mike. Thank
Powerhouse business an Next update to that on provide on announced Slide year. earlier want this the I we strategy XX,
foundation financial phase the plan a order our business. of build on first to transform grow was which The to solid in to
In profitability. by capital Mike, remains I of on August of prior achieving time Over you challenges, optimizing initiatives undertook to of to in toward the the restructuring cost beginning shared CEO of financial earlier deployment to months, XXXX, evolving see Prior when we by of goals to COVID-XX, our role business. and several in support new strengthening with and assumed our over our business strengthen ongoing a future COVID-XX improving footing working example developing focused order were can this of past capital hard despite number that the phases just an our process, strategy. we ultimately
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have the past results cost year reductions today. implemented evident We in reported were the over that
As strides hand hand product quality while toward and reducing to adhering costs safety we our make continue goes to profitability, in standards of with pursuit operational excellence.
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Energy’s are on environmental and geographic reliability benefits and that advocates, including policymakers, with that understand ensure we the security, to markets, consumers working opportunities, pan-European are applications. our resiliency To partners megawatt We’re platforms. with channel expand sub collaborating environmental, possible FuelCell
strategy. growing access part to appreciation that across and We global use a will for intend capabilities applications, They’re go-forward carbon multi-feature our is to international committed Asia. type capture regaining markets biofuels, also We growth of hydrogen. remain from platforms. technology be on There our microgrid ranging of
Slide XX. to Turning
success. outlined, executing backlog foundational to I’ve long-term is As our on our project
As mentioned underway. megawatt trenching Bernardino which X.X San in is earlier, our here on California. the pipe with work, construction Water and well project Municipal biofuel has is the Department commenced onsite Seen
up, mobilization. Next York. There’s project New Yaphank, project onsite for Long our in X.X-megawatt Island,
look a site upon expected clean and what to look is Long on have bringing forward of reality reliable power We we to rendering completion, included baseload Island. to like this
commercializing on focus to Engineering development agreement continue technologies, also ExxonMobil including and our under capture Company. carbon We joint with advanced
and solid of development, advance development our to continue Energy. of We technology research U.S. through Department agreements the oxide the commercial cooperative with
potential integrate about to excited power intermittent of a are sources revolutionize better storage grid complex long-duration of and tomorrow. We our energy into
SureSource streams. tri-gen platform three value Our delivers
our delivers use naturally second, clean industrial platform thermal heating First, water, applications; steam energy tri-gen and generate and platform source and water energy; produced third, applications. as can on used and/or of our cooling in for our other platform hydrogen a hot be transportation the and
goals Slide and a to Next, year macroeconomic light to we current want time These goals fiscal context update past COVID-XX long-term our therefore, in intended we uncertainty. on and strategy. with stretching give on of to are targets to the disruption uncertainty And an some and looking XX, targets economic has our horizon add created the long-term how pandemic are XXXX.
by changes this investment to Slide our backlog for deliver revenue to like economics continued agreement expectations. those and imposed growth FuelCell of current demand world commercial our revenue achieving operation we at achieving is the then continue to the recurring and the and project and each restrictions the Key I revenues. as power which expectation for key projects, for our review service On improve, and to emerges the is our generation long-term backlog have time from technology our company of for pandemic Energy. increasing plan XX, highlights long-term Given our would the no to of expected to execution performance
As expected commercial which to discussed quarters, arranged to facility we projects in credit previous financing operation and assist access generation bringing in our through to generate Energy revenue. million Orion our with service recurring are for we $XXX to construction our us expect projects for long-term Partners, that
to look reduce to for of enhance cost continue liquidity We opportunities and our capital. our
milestones, it strengthen financial on working for focused executing increasing strategy while conclude to operational implement company since is today prepared we will assumed efficiencies, role grow Board Directors that our about that a transform, organization over Commercial business has by and my achieving of core outstanding Officer. an our been our living I have on our Powerhouse President, to are months joined and of projects, Chief Executive nine the the And Officer year-and-a-half purpose. the I We noting remarks since Chief I long-term. and
our During and embarked to on partners company the improve for plan time, team this has ambitious the eyes in and of reposition Energy and to pride the FuelCell manufacturing in restore to this American company an perception great our customers the reimagine future. it restructure
remarks. our the for renewed inside challenges While agenda have energy XX an pandemic Energy’s collaboration are organization, lay This the FuelCell we aggressive formal we turnaround, by concludes we over to months the cross-functional foundation pleased our past advancing set by I’m which global our the despite that and presented purpose. the
introduce a who on to begin the the and I Q&A, are Tom, want with few team Before more me. we call Mike members
are SVP, Leo, over Crossman, Finance; to by and and turn Mike EVP now Q&A. Sales. CTO; SVP and Toby, Direct Tony Ben COO; We begin Lisowski, it Michelle I Joe joined EVP to will
