Thanks continued Thank which joining just Strategy. our very progress you, We morning, today. in on against Powerhouse call our And year important good Tom. a we us everyone. completed Business made for
and execution global commercial in to to improving in backlog, by against our year the applications. defined fiscal Our our capabilities closer deployment working innovations was technology of team laboratory the XXXX investing from move diligently
revenue brief which we which three is of overview of full underpinning license, represent fiscal long-term $XX service will our phase on the generation, on all you XXXX, given year Technologies our provide throughout recurring I company a Powerhouse annual us On almost next growth prospects. Advanced contracts. conference as quarterly into I under our getting Slide always our revenue today updated achieved million, like closer As achieved from with came of Strategy and before growth and milestones of shown FuelCell for to multiyear share year the to business results to calendar for target of X, Energy calls, move the quarter. the XXXX diversified revenue sources categories,
On utilizing our the fuel of right-hand highlighted multi-featured platforms. cell our many are side whom the have marquee of customers, chart, we
past revenues from X Over years, X sales. have we had fiscal the essentially product
recently However, to XX as existing we are we South expecting at in installations also reported, calendar in for year modules orders replacement XXXX least service Korea.
For value roughly our orders these total of perspective, the represents of revenues. XX% XXXX
see optimistic a in will on from Korea basis. that revenues going-forward are we sales product We meaningful
Asian select target looking we the product as where We countries creating Europe, a are priority markets made as also to and sales. Africa, in other opportunities to forward Middle have in East well it
X. Slide Turning to
we enabling clean by company, to live are of a As our committed the energy. empowered world purpose to a life
As I've for engaged globe, accelerating, where and is the investors, officials, and government traveled East, in the our recently across most with clean theme our Korea purpose Middle resonating is and I macro have an customers, interest regulators energy important prospective in company.
while Our installations enhance that microgrids and other integrate grid versatile to designed are and systems able power energy reliability. heat are levels, high creating efficiency enable resiliency to
applications and blending, feature decarbonization customers natural positioned and XX/X world, we We granted. the goal around economic and We to their by accomplish hydrogen The is FuelCell nations. gas development utilize platform. biofuels, producing industry it our platforms, we customers technology also the assuring an around power portfolio, without our sustainability. clear forward all in an harming importance reliability responsible that With be economy. of power, to today the countries participate increasing industrialized that should power. reliable believe gas think And are can't hydrogen can assist decarbonizing development reliability. is broad product renewable or for taken as the resulting neutral grid which in Some alongside power provides reminded with will of periodically that meet them carbon to of Grid power of compatible world environmentally neutral Energy of need a goal uniquely issue multi-fuel accelerated critical developing is to biofuels, challenges of same the utilizing implementing of carbon-negative to path usable our anticipate carbon-negative world We manner. in always carbon created the this are
address Solutions facilities such in which in operate. issues our and harmful about as air carbon not originate work authentic provide solutions communities operate and manner technologies disingenuous to FuelCell and are do resource purpose this doing. the the and and that the immediate We strategic This economic directly protecting we our energy quality environment real-time deliver while challenges. do view, standards to focus for somewhat living the drives where benefits environmental offsets emissions. local passionate environmentally are and, locally platforms high new of in supports clean Energy's and adapting a growth which our
the to the and Slide on business to turn Next, the quarter, development results X. during like discussion I would summarized
I existing advancing am has in progress First, which including goals, very on revenues our our the recurring made growing over pleased result as should executing backlog, long-term projects time operational. with team become our
Groton, commissioning project Navy On have Submarine Base brief in after at necessary Connecticut, resumed we some the U.S. delay a activities complete to the X.X-megawatt repairs.
We platforms Long materially to mechanical commercial to on our the in platforms is we achieved Derby, The operations and by the project XX, before the the contain expect site. operational, XXXX. to will utility-scale SureSource X clean, expected or construction balance completed operations stability installed Connecticut and to have fortify cell and platform completion. commercial XX-megawatt this supporting is commitment complete foundational fuel Once the alongside fuel to cell construction the of commissioning of platform to December of expected will microgrid X.X-megawatt into has resilience project on mid-January. and on increase demonstrate power. of River. plant project, military's supply complete, engineering Yaphank, and components while largely achieve reliable achieve On-site Island, and a incorporation This have systems Housatonic base FuelCell At Navy's that Energy's energy been is installed scale grid U.S. effort utility the delivered XXXX be ability fully the demonstrating project
which with a working the serve as electrical ultimate commercial this on for utility are local project. interconnection, on the item operation gating date We will
For it single will water cell platform. has hydrogen a X.X set hydrogen platform drought and carbon-neutral Long will to site avoid produce region built equipment is the Fuel customer unique of tri-generation a a Port platform capabilities to of megawatt Beach, the achieves at civil Project operations, a from work power delivered the green enabling electricity, in conditions. Toyota underway. deliver experiencing extreme When water, plant consumption commercial and and and electricity, water offering construction been the this
customers, the Second, Asian Korea, for our by product POSCO with serve settlement Energy, Energy's able market, Fuel the that to this had us POSCO we to in favorable South counterclaims, Korean its for litigation we we agreement executed a with Energy while which caused generate agreements for of subsidiary, market made been various previously POSCO litigation including access Cell, the with market removal to our projects created cloud it difficult following POSCO confusion new our platform termination of sales. the after differentiated and reaffirming sell believe
In In that the company. to years in developed Business the to fund is grow, to to XXXX $XX rights agreement existing clarifying modules Korean a Asian revenue XX addition markets, to operating projects our commitment the calendar order year and includes us Korean generating from serve also during in replacement South have our strengthen transform, since the the the core built My we durable Strategy third growth X foundation X financial and is of message pillars we our evolving. key Powerhouse plans. million
excellence. our production capabilities, strides constantly large toward made also operational have growing while We improving in working
quarter, annualized from XX operating to terms our year, to megawatts the year-long achieved benefiting uptime saw and our fleet. other manufacturing fourth at capability. of continued following facility we And of fiscal platforms, we our annually the we increasing operational production manufacturing goal rate During generation initiatives end using in increase improvements to progress Torrington further and across our output a effort the shift, the improvement of single only reliability existing the
helping world by we and toward ahead, our growing, a are attain sights scaling vision energy. of innovating achieve clean Looking our turning ultimate to empowered
through of Airport and the the of operators As example based Renovit, specializes Company; which Management leading that X in subsidiary, the infrastructure Italy Spa, Group, world's energy term focus, Torino in for Snam SAGAT its fuel cell with our Airport. the cogeneration platform cell solutions Torino in mode signed to have efficiency a fuel megawatts energy capacity construction at of sheet of a the energy, operate X.X hydrogen-ready an
to finalized generation platform electrolysis we Italy decarbonizes pleased FuelCell to to be its solution towards kind with growing positioning blended how part Renovit oxide sustainability Energy have Energy that for hydrogen electricity we economy. fueled This well can goals. natural this of yet and and and combined are the their another of help heat. power of with contract, first platform solid the as the and gas an hydrogen not reach commitment Fourth, doing of development variable of Snam, bring climate will sustainability is And power challenges research be that our to percentages the commercial our Although capabilities. our example customers FuelCell storage innovative commercialization we through hydrogen are generation, advancing our are as and advances address our and of
that down million million $XX.X commitment totaling on the sale capital. a million of our address we West biofuel And Yaphank with as on financing an financial for and us We Finance for $X.X to equity of and some part project. are of product which FuelCell transaction sheet, to major And achieve global equity Park's Earlier closed tax commitment a in strengthen we the leaseback on the and tax with portfolio San we project flexibility, developing drew approximately base financing developing growth distributed tax continue with commitment. global million liquidity this Park strengthen $XX opportunities. To Crestmark Bernardino the November and financing Franklin closed overall climate, equity enables this focused on East for totals the solutions an transaction we of commitment. fund XXXX, our and equity in tax lower fifth, deploying largest Franklin $X XXXX, balance transaction million. remains closed on energy year, our Groton with we the resilience In closing, we Equipment for project. Bancorp sub reliability equity a solutions August cost $XX.X received decarbonized Energy our issues.
believe our Energy's to revenue technologies from expected support top-line assets, is the markets demonstrate just generation which assets. recurring growth. continued of in These we evidence the from also and We of a to few financial we operating FuelCell our interest strength revenue are generation increased differentiated and that transactions have contribute completed
penetration. We allocation are disciplined and future committed market support capital to to growth
settlement ability transition government dispute affirm exciting and Energy. energy serve Asian broader growing Korea, support POSCO legal differentiated about Asia thermal the heating technologies and fuel between our The should unique distributed hydrogen market market. also the agreement for XXXX Japan settlement differentiated Slide to our platforms in aggressive hydrogen targets. proprietary cells country. the a the no economy cell Energy, rights to this resolution agreement to to market We we for Korea FuelCell South also some on South in Asian service for announced for to when to the district POSCO Next, POSCO with customers that high-quality In the within POSCO platform looks supply throughout clarifies provide forward and Energy hydrogen deserve as Energy's been that utilizing It always our Asia customers receive the evaluate Asia. aspect of an the been service This technology key Energy of which technology hydrogen ensuring its has X. without that Energy sell the has distributed technology. would in by generation sold look forward provides FuelCell desirable we POSCO expand with in FuelCell have whom terminated license a utility-scale is like Further, and Korean announced module map, and new to we the amid services long-term as allow the unlocks agreements Energy's path across the attributes to our Energy our our previously settlement we Korea gives Also, as road usage Energy South paid announced market licenses transition. points only agreement and settlement to the they projects to fuel or lead to their goals our with cost has path Energy POSCO Energy highly under POSCO agreement existing bringing confusion and on opportunities to FuelCell projects This create concern that: and I is held FuelCell technology, differentiated committed timely FuelCell to FuelCell existing relation right they agreed Energy. June South POSCO Number opportunities a for exchanges to marketplace. and agreement, Energy platform Energy the exclusive an new The are previously customers POSCO important one, Energy. in of perspective amended and in given right choice through requirements clear the
parties or settlement Finally, the and no working potential the the with settled POSCO market between intellectual bearings various that disputes, which legal POSCO to and with FuelCell finally Energy all respect disputes between of parties Energy property Energy small current the means fully to the the X with has the and license are are resolve rights agreements access. proceedings on or exception
to in to as release must footing market and to on Energy Korean differentiated platform power when part again million POSCO across that Korean term. solutions compete court addition, decarbonized $XX.X settlement, of all to attachments will and an FuelCell of is completed Energy In deliver FuelCell able expects be its Asia. the the once of upshot the this Energy approximately equal receive The near
with have the We customers FuelCell existing favorable a are and ensuring extremely full to Energy access POSCO Energy, Asian market to pleased Energy reached for the clarifying met. are needs POSCO of agreement
expanding duration now been about will our throughout lot excited have storage the clear, FuelCell there and to or be We electrolysis America commercializing. offers process including in and forward and energy growth either capture. and be removed said to carbon in Energy long to X of a we power, Europe, Asia. look the geographies technology the market. are But the and the distributed is all have I Asian major hydrogen, Distributed believe North legal marketplace uncertainties for we exchange reach the serve, geographic currently
our while see research power. our we you'll advance development and over existing cell carbon on efficiency from Slide our producing external also As to and from platforms, fuel X, source continue to while of capture and -- carbon capability
solution is that of and captures it know from solution rather Our distributed and the capture capable power an consuming also is produces that only hydrogen we for external producing proprietary of applications. than carbon source carbon
our operating platform. platform the sequestration X and directly baseload of profiles delivers carbon own can power emission our of our carbon from in also platform We generation utilization for when separation carbon SureSource lowest any capture mode, and
increased commitment well of We have commercial our the our focused storage capabilities. electrolysis to commercialization generation, power R&D and oxide on growing hydrogen our as solid as platforms
storage solution of a storage over which detail. mineral-based addressable total company such systems batteries. our long-duration a to oxide market high-efficiency working to programs a oxide executing are large has the as solid that to solid energy financial superior We energy Mike call hydrogen-based also turn And very are believe power believe benefit. system to to is results for systems. We now opportunity develop the generation storage these will We we environmentally position each more and I lithium-ion that discuss areas for to in reversible Mike?
