That's a great question. Again, it's yet to be implemented. We don't quite know what degree of bridge will need to be gapped through this contracts-for-difference element of the auction process.
In terms of the long-term outlook for the H2Global program, again, Germany has put over 200 million euros of state aid into the project so far, to be set aside to help with the contract-for-difference element. That will have to be replenished as it gets wound down. It will really depend on continued support from the governments of both Canada and Germany to continuously top up that program.
The expectation is that as production scales, cost will come down on the Canadian side, so over a period of probably between five to 10 years the need for the contract-for-difference element in the auction will gradually fizzle out.
One thing I want to note in terms of long-term outlook, as well, is from discussions with the organizers of the H2Global program on the German side. They very much see this as a potential template for other auctions. If the H2Global auction process is successful in supporting the export of Canadian hydrogen and green ammonia to Germany, they see no reason it couldn't be replicated in other sectors, like critical minerals. I view this as a broader opportunity for Canada not just in hydrogen exports but also, potentially, in using the H2Global template for other areas.
