The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: William Chapman Peterson - JPMorgan Chase & Co, Research Division - Analyst
: Lots to digest in release, so forgive me if we missed some things here. But I wanted to talk about the upcoming guidance in the U.S. treasury related
to the IRA. And I know you had depressed confidence in the past, and it seems like there may be some positive news forthcoming. But first of all,
when should we get some resolution on the additionality and matching things.
And I guess if it was going to be unfavorable, I guess, about this PTC, how the economics compare between the U.S. hydrogen plant and a plant
in Europe?
Question: William Chapman Peterson - JPMorgan Chase & Co, Research Division - Analyst
: Yes. No, that's super helpful. Maybe the second question for me is, it sounds like you're moving into next steps with some potential good promising
outcome maybe with the DOE loan program office. But I guess what remains to be done? It sounds like you're in the second stage of due diligence.
And what would be the timing given you successfully pass that bar?
Question: Manav Gupta - UBS Investment Bank, Research Division - Analyst
: So Sanjay kind of alluded to this, but refining is a massive market opportunity as it relates to replacing gray hydrogen. You actually announced an
order in Europe, one of the bigger ones to replace gray hydrogen with green hydrogen. Do you see this segment end market growing? And someday,
even U.S. refiners looking to source green hydrogen and replace their gray hydrogen. I'm not sure if you saw yesterday, but there's a public
independent refiner who basically on their earnings call said we are looking for electrolyzers to make green hydrogen to support our SAF. So as
an end market for U.S. refining or Europe refining, how you're thinking about that?
Question: Manav Gupta - UBS Investment Bank, Research Division - Analyst
: I have one quick follow-up. Recently, you introduced your HL 1500, the market's first portable hydrogen refueler. I wanted to follow up on it. How
are the conversations with potential customers going with that product? Do you see that product making an impact to your top line in '24 and '25?
Question: Manav Gupta - UBS Investment Bank, Research Division - Analyst
: Thank you, so much. And this is all very positive.
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