After selling our oil and gas related business in 2018, Magnora has in just two years managed to transition into a renewable energy development company. We have succeeded in attracting a team of industry experts, and have made a few key investments we believe will shape the future of Magnora in the years to come. Initial focus was wind power development, but solar PV is already a significant part of our business model. The experience and professional relationships of our team has allowed us a privileged seat at the table with many of the majors of our industry. We are now in a unique position, with recurring income from legacy business, funding parts of our new business model. We conducted a private placement in February that confirmed the support we have from our investors and the market, as it was oversubscribed several times. Magnora’s business model is to identify and develop renewable energy projects from greenfield to the ready-to-build phase. At the point of construction and operations we prefer to farm-down and cooperate with professional investors who will finance and operate the projects over the duration of the license periods.