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Speaker 1: The growing demand to power AI, forcing big tech to

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Speaker 1: look for alternatives. Bloomberg Intelligence estimates Microsoft will pay Constellation

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Speaker 1: Energy at least one hundred dollars per Mega what hour

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Speaker 1: once the Three Mile Island Nuclear plant restarts. Siemens USA

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Speaker 1: is also looking to build out energy infrastructure in the

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Speaker 1: face of new demands. The CEO of Barbara Humpton joined

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Speaker 1: us now for more. Barbara, it's good to see.

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Speaker 2: You, Jonathan, great to be with you.

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Speaker 1: Let's start with the big picture, the energy trilemma, security, sustainability, affordability.

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Speaker 1: Can we square that circle? That triangle? Can we address

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Speaker 1: that issue?

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Speaker 3: Well, we have to.

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Speaker 2: I mean, the bottom line is the economy can only

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Speaker 2: grow as fast as the grid. We need power for

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Speaker 2: everything we're attempting to do as a nation right now,

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Speaker 2: and so we have to find more sources of power.

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Speaker 2: At the same time, we've got to attend to the security,

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Speaker 2: and of course affordability is a big issue. That's why

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Speaker 2: Cman's is working on bringing technology into the mix. Maybe

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Speaker 2: we're going to take longer than we like to bring

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Speaker 2: new sources of power onto the grid, but we can

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Speaker 2: use software and technology tools in order to manage the electrons.

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Speaker 2: We produce more effectively.

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Speaker 1: Taught to us about the technology solutions. We hear all

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Speaker 1: these things about off grid solutions, micro grids. What are

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Speaker 1: the kind of things that you're working on.

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Speaker 2: With This is really exciting. I've been sharing with a

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Speaker 2: lot of colleagues that the grid edge may be the

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Speaker 2: most exciting place to be in the economy right now.

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Speaker 2: Think about all the buildings with all their electrical products.

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Speaker 2: Think about the ability to now put solar on buildings

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Speaker 2: in We've got batteries in cars, so we have many,

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Speaker 2: many more components capable of storing or producing energy. Now

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Speaker 2: we network all those together with software with the grid

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Speaker 2: components that create microgrids, giving us the ability to maybe

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Speaker 2: separate parts of the grid for security reasons if we've

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Speaker 2: got say power or excuse me, weather disruptions like we're

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Speaker 2: expecting right now all across the country. So Siemens has

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Speaker 2: been working for a long time. Most recently you would

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Speaker 2: have seen coverage of our Bronzeville project with Commed, where

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Speaker 2: we provided a microgrid to the neighborhood of Bronzeville, which

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Speaker 2: integrates storage, power production and produced enough excess energy that

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Speaker 2: the utility was able to offer the community an electric

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Speaker 2: vehicle so that people could make it to their doctor's appointments.

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Speaker 3: The demand is there, companies are willing to pay for it,

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Speaker 3: evidenced Microsoft just a moment Ago raises a question how

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Speaker 3: much do we have the capacity to produce it in

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Speaker 3: short order? The goods necessary? Pardon me, which goods are

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Speaker 3: we talking about, Lisa, just in general, whether it is

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Speaker 3: having to do with the chips, whether it has to

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Speaker 3: do with the electrical grid wiring, whatever it has to

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Speaker 3: do the infrastructure necessary to make what you're talking about.

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Speaker 2: This is exactly why Siemens has been investing in the US.

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Speaker 2: Over the last year, we invested five hundred million dollars.

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Speaker 2: One of the huge things was to open up new

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Speaker 2: manufacturing in Texas for the electrical switch gear that will

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Speaker 2: go into data centers and actually help at the grid edge.

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Speaker 2: You'll be seeing an exciting announcement a little later on today,

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Speaker 2: and I encourage everybody to be on the lookout for

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Speaker 2: it North Carolina. As we continue to expand operations.

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Speaker 3: How much is the end user and the end buyer

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Speaker 3: government agencies or government regulated agencies versus big companies like Microsoft.

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Speaker 2: Right now, the hyperscalers obviously are at this and as

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Speaker 2: I move across the country, I would tell you that

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Speaker 2: if it were not for restrictions on the grid, the

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Speaker 2: appetite for building a data centers is unlimited. But we

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Speaker 2: all know that we're going to be actually limited by

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Speaker 2: the amount of power that can be produced. So those

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Speaker 2: hyper scalers are moving all around the country looking for

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Speaker 2: where can they get gigawatts of power?

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Speaker 4: And the best places for gigawats are power sound like

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Speaker 4: they're in the south North Carolina.

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Speaker 2: Texas Often, oh, well, this is where we're making the

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Speaker 2: switch gear. But you're seeing data centers pop up everywhere.

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Speaker 2: So can you find an asset that's under utilized that

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Speaker 2: can produce power, put a data center close to it

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Speaker 2: and make that local use of power very efficient? And

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Speaker 2: so we're seeing all forms of energy actually coming back

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Speaker 2: on the grid.

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Speaker 4: Amanda, definitely there in the United States, the Biden administration

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Speaker 4: has been backing this with the Inflation Reduction Act, but

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Speaker 4: I still hear complaints about permitting and red tape and

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Speaker 4: how hard it is to build something, even like a

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Speaker 4: transmission line.

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Speaker 2: Do you come across those same problems. This is the

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Speaker 2: issue in our world. Siemens is in the backbone of

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Speaker 2: the economy, and so we're working hard on making sure

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Speaker 2: that we do address the growth of the grid. For instance,

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Speaker 2: the growth of manufacturing. Permitting is key to being able

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Speaker 2: to get us to move quickly. In the meantime, what

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Speaker 2: we're encouraging people to do is everything they can behind

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Speaker 2: the meter. Anything we can do to save energy means

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Speaker 2: we have more energy to deploy for new growth. So

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Speaker 2: get behind the meter, start doing energy conservation measures, but

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Speaker 2: then likewise start implementing the kind of solutions that allow

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Speaker 2: us to use our energy wisely.

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Speaker 1: Can we talk about the AV challenging business, independent unit,

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Speaker 1: independent business? Why come in that direction with it? Yeah?

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Speaker 2: You know, EV charging is a really critical business for

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Speaker 2: the world right now, and Semens has to know how

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Speaker 2: to create chargers. You know that we had admitted to

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Speaker 2: build a million EV chargers and we recently actually acquired

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Speaker 2: Helios to be able to be in the DC charging

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Speaker 2: infrastructure and be able to really address large fleets. Proud

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Speaker 2: to say the Postal Service selected us as for instance,

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Speaker 2: as one of their providers for charging a technology. When

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Speaker 2: you look at that, it is capital intensative and so

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Speaker 2: the big question is how do you set them up

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Speaker 2: for success, and our expectation is that by taking this

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Speaker 2: kind of action, we actually give them the ability to

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Speaker 2: control how they're going to raise the resources they need

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Speaker 2: and give them the freedom to operate.

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Speaker 4: Seven point five billion dollars has been allocated for EV

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Speaker 4: buildouts from Inflation Reduction Act. I think they might have

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Speaker 4: built two dozen. Who does it better, the government or

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Speaker 4: private sector?

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Speaker 2: Well, this takes a combination. The investment that the government

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Speaker 2: is making actually is starting the flywheel that gets us going.

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Speaker 2: I think you've seen for every federal dollar that's being spent,

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Speaker 2: there something like six or seven that are coming from

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Speaker 2: the private sector. So we have seen that uptake increase.

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Speaker 2: We are excited about bringing evs onto the grid. We're

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Speaker 2: excited about what it's going to do for us for

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Speaker 2: resilience overall as we go.

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Speaker 3: One thing that we've been talking about as a theme

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Speaker 3: on this show has been national security concerns and how

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Speaker 3: to make particularly the grid and aspects that are fundamental

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Speaker 3: to the operating nation of society invulnerable to some potential attack.

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Speaker 3: How much is that a focus for you as you

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Speaker 3: build this out, As you are the phone for a lot.

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Speaker 2: Of these projects, this is a huge, huge priority we've

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Speaker 2: got something like twelve hundred cyber experts across the country.

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Speaker 2: As we develop new technology, we're clearly attending to this.

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Speaker 1: But here's the thing.

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Speaker 2: Connected infrastructure is actually more secure. Right If you're not connected,

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Speaker 2: you just have no idea what's happening out there. Once

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Speaker 2: you get connected, you can identify sources of threats, you

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Speaker 2: can actually take action. And so we are big believers

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Speaker 2: and we've been working closely with our customers and with

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Speaker 2: governments around the world getting our infrastructure more connected.

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Speaker 1: Barbara, this was super smart. Let's do it again soon.

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Speaker 1: It's going to see you. Thanks for being Thank you,

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Speaker 1: Barbara Hunton there of Siemens