Anaergia Inc.

Hello and welcome to today's conference call, Energia Q1 2023, conference call and webcast. My name is Felicia and I'll be your operator today. Please note there will be an opportunity to ask questions on the call. If you wish to enter the queue, please press star followed by one on your telephone keypad. I will now hand you over to your host, Darlene Webb, Investor Relations for Energia. Please go ahead, Darlene.

Thank you very much, Alicia. I'd like to thank the operator and good morning to everyone. This call will be discussing our earnings for Anogea's first quarter of 2023, ended March 31st, 2023. If you're following along with our slides, my comments are directed to slides one through three. For our call today, I'm joined by Dr. Andrew Benedek, Anogea's founder, board chairman, and CEO. Dr. Yanneth Sherson, Energy as Chief Operating Officer, and Mr. Hani Casey, Energy as Chief Development Officer and Acting Chief Financial Officer. Before beginning our formal remarks, we would like to refer listeners to slide two of the presentation, which contains a caution on forward-looking information and a note on the use of non-IFRS measures. Listeners are reminded that today's discussion may contain forward-looking statements that reflect current views with respect to future events. Any such statements are subject to risks and uncertainties that could cause actual results to differ materially from those anticipated in these forward-looking statements. Energia does not undertake to update any forward-looking statements except as may be required by applicable laws. listeners are urged to review the full discussion of risk factors in the company's prospectus, which is filed with the Canadian securities regulators. And lastly, while this conference call is open to the public, for the sake of brevity, questions will be prioritized for analysts. And with that, I turn the call over to Andrew.

Thank you very much, Barleen. I'm on slide four, and there are five main points on this slide. The first one is the fact that given our asset base, which is significantly above our share price, it's important to know that these assets are valuable and in fact they're more valuable than what we have it in the books. And the validation of that is the sale of our Thunder assets, where we sold it for what we invested in and made an additional $10 million. We are continuing to see the unfolding of the support structure for RNG. This is very important and will create an increasingly large market. The unrolling of these incentives, given the bureaucracy on Western nations, always takes a little longer, but it is starting to happen and will definitely impact 2024-2025 in a major way. We are also getting validation on our technology and our market presence to two major awards that have been added to the many other awards that we've won over the years. And this particular one I'll speak to in more detail in a couple of minutes. And of course, we are continuing to advance our BOO portfolio with all of the Italian project finished sometime this year and wrapping up. Finally, at the end of the talk, I will discuss our recognition of where we are and what we are intending to do to shift the strategy from what we have been using to a new, more cash flow oriented strategy. Moving on to slide five, I would like to just comment on the fact that I've already commented on the incentives, so that's there. The other aspect is that we are now finding markets that weren't there for the RNG beyond the California incentives and the federal incentives in the U.S., The first one shows that there is a real interest in a major company to use the RNG for other fuels, in this case hydrogen. And the second one, most of which we have announced, is the case of Irving Oil, who wants to decarbonize its fuel base. And this is happening across Europe. and it will be increasing in Canada. We're also making progress in getting recognition by multinationals for our technology, and we announced this briefly, just a summary here. And last but not least, we are progressing very well, particularly in the US, but also in Canada. on working with wastewater utilities where we uniquely qualified to get a benefit from the residues that these plants produce, turn them into RNG. We received the contract just a few days ago from Monterey, and we're also being selected for a major build-on-operate plant in California that will be releasing information later on. At this point, I'll hand it over to one more. The market recognition that I talked about. This is a global business association of major water companies and major water users, utilities that get together once a year. And it's kind of like the Olympics of water. They provide prizes for the most, for the greatest accomplishment or the most impressive company. We managed to win not one but two prizes in Berlin just a few days ago. And the first one is for being the company that does the most for carbon, for reducing carbon. And the second one is a recognition for what's considered the most important and interesting project of the year. Given the large number of companies, much bigger, much older, multi-billion dollar companies and utilities, it's truly amazing that a modest-sized company was able to win two of the top prizes. So we're very proud of this, but the significance is that what we're doing very successfully in the US and Canada will be welcomed everywhere in the world, and there's much more opportunities in this space, especially with this additional recognition than we are showing at the moment. The challenge with this market is that it takes a while, but it's a really wonderful market where a long-term relationship can exist. And to the benefit of both parties, the utility as well as our company. So, at this point, I hand it over to Annie Casey. Thank you. Thanks. Thanks. Go ahead.