Lithium prices poised to recover: Key signals and insights

Technology as a growth driver

The oil sector and climate change

Oil, gas, and metal prices serve as pivotal indicators in the global financial landscape, significantly influencing markets, investment strategies, and economic policy decisions. Their inherent volatility and strategic importance make them critical drivers of global economic trends, shaping investor sentiment, capital flows, and long-term development priorities across industries.

The Oil Sector and Climate Change

The oil sector stands at the intersection of global economic development and environmental sustainability. As one of the world’s largest contributors to greenhouse gas (GHG) emissions, the industry faces mounting pressure from governments, investors, and consumers to transition toward cleaner and more sustainable energy sources. Climate change has transformed the oil sector from a purely profit-driven industry into a focal point of global energy policy, environmental responsibility, and long-term strategic adaptation.

In recent years, international climate agreements—such as the Paris Agreement and subsequent COP summits—have accelerated the global commitment to reduce carbon emissions. This has prompted oil producers to reassess their long-term business models, shifting investment from traditional exploration and production toward renewable energy, carbon capture and storage (CCS), and low-carbon technologies. Major oil companies are increasingly diversifying portfolios, rebranding themselves as “energy companies” rather than solely “oil producers,” in an effort to align with the global net-zero emissions target by 2050.

However, the path toward decarbonization presents both risks and opportunities. On one hand, stricter climate policies and carbon pricing mechanisms could reduce fossil fuel demand and erode profit margins. On the other hand, innovation in carbon management, hydrogen, and renewable integration opens new avenues for growth and investment. For oil-exporting nations, particularly in emerging markets, balancing energy security, economic stability, and climate responsibility remains a complex challenge.

From an investment perspective, climate change has become a material financial risk for the oil industry. Institutional investors are increasingly incorporating Environmental, Social, and Governance (ESG) criteria into their decisions, pressuring companies to disclose carbon footprints and demonstrate credible transition plans. Markets now reward firms that proactively adapt to environmental regulations and penalize those perceived as resistant to change.

Ultimately, the future of the oil sector will depend on its ability to evolve within a rapidly decarbonizing world. While oil will remain a critical energy source in the near term, the industry’s resilience will hinge on how effectively it manages its environmental impact, integrates renewable solutions, and redefines its role in a sustainable global energy system.

Investment Implications: Transition Risks and Opportunities in the Oil Sector

The accelerating global transition toward low-carbon energy presents both significant risks and strategic opportunities for investors in the oil sector. As environmental regulations tighten and renewable technologies mature, traditional oil investments face new market dynamics that redefine value, cost, and growth potential.

1. Transition Risks

a. Policy and Regulatory Risk
Governments worldwide are introducing stricter emissions targets, carbon pricing, and climate disclosure frameworks. These measures increase operational costs and limit future oil demand growth. Countries such as the European Union, Canada, and Japan are implementing carbon border adjustment mechanisms (CBAM), which could penalize carbon-intensive exports and reduce competitiveness for producers that lag behind in emissions management.

b. Market and Demand Risk
The long-term global energy mix is shifting. With electric vehicles, renewable power generation, and energy efficiency technologies expanding rapidly, the International Energy Agency (IEA) projects that oil demand could plateau before 2030. A decline in consumption from major economies such as China, the EU, and the U.S. may pressure prices and reduce the profitability of new upstream projects.

c. Financial and Reputational Risk
Investors and financial institutions are increasingly aligning portfolios with Environmental, Social, and Governance (ESG) standards. Banks and pension funds are withdrawing financing from carbon-intensive projects, while rating agencies now evaluate climate exposure in credit assessments. Companies that fail to transition risk higher capital costs, reduced access to funding, and reputational damage among stakeholders.

2. Transition Opportunities

a. Diversification into Low-Carbon Energy
Forward-looking oil companies are reallocating capital toward renewable energy ventures—such as solar, wind, and biofuels—and carbon capture and storage (CCS) projects. This diversification not only mitigates regulatory risk but also positions firms to benefit from global green financing initiatives and sustainability-linked investments.

b. Technological Innovation and Efficiency
Investments in digitalization, automation, and energy efficiency can significantly reduce emissions and operating costs. Advanced data analytics, AI-driven monitoring, and low-carbon refining technologies enhance production efficiency and environmental compliance—improving both profitability and ESG ratings.

c. Strategic Partnerships and Carbon Markets
Collaborations between oil majors and clean-tech firms are expanding the role of traditional energy players in emerging sectors like hydrogen, synthetic fuels, and carbon trading markets. Participation in voluntary carbon markets and emission offset projects also allows oil companies to balance production portfolios while contributing to global climate goals.

d. Emerging Market Potential
Developing regions—particularly in Asia, Africa, and the Middle East—continue to require affordable and reliable energy for industrialization. Investments in cleaner oil and gas infrastructure, LNG facilities, and transitional technologies offer growth potential while supporting sustainable development pathways.

3. Strategic Takeaway for Investors

For investors, the oil sector is no longer a simple cyclical play on energy prices—it is now a strategic transition story. The winners will be those companies capable of balancing short-term profitability with long-term sustainability. Investment strategies should prioritize firms with:

• Clear net-zero transition roadmaps;

• Increasing exposure to renewable and low-carbon technologies;

• Transparent ESG reporting; and

• Proven adaptability to climate-related regulation.

In this evolving environment, selective investment is key. Rather than abandoning the oil sector altogether, investors should focus on companies actively transforming their operations and aligning with the global energy transition. These firms are best positioned to deliver resilient, risk-adjusted returns in the decade ahead.

Global Policy Trends Driving Energy Transition (2025–2030)

The global energy transition is no longer an abstract ambition—it is a concrete policy-driven transformation reshaping investment, trade, and industrial development worldwide. Between 2025 and 2030, governments are accelerating the shift from fossil fuels toward sustainable energy systems through legislation, carbon pricing, and large-scale public–private partnerships. For investors, understanding these policy trends is essential to anticipating risks and identifying emerging opportunities across the energy value chain.

1. Strengthening Climate Commitments

Following the COP29 and COP30 climate summits, nations are tightening their Nationally Determined Contributions (NDCs) under the Paris Agreement, targeting deeper emission cuts by 2030. The European Union aims to reduce net greenhouse gas emissions by at least 55% by 2030, while the United States has committed to a 50–52% reduction from 2005 levels. China and India are also advancing their renewable capacity goals, with China targeting over 1,200 GW of wind and solar capacity by 2030.

These strengthened commitments drive capital reallocation toward renewable infrastructure, grid modernization, and low-carbon technologies—diverting investment from traditional oil exploration and production projects.

2. Expansion of Carbon Pricing and Taxation

Carbon pricing mechanisms are expanding rapidly as governments seek to internalize environmental costs. As of 2025, more than 80 jurisdictions have implemented or are developing carbon taxes or emissions trading systems (ETS).

• The EU Carbon Border Adjustment Mechanism (CBAM) imposes tariffs on imports with high embedded carbon, incentivizing exporters to decarbonize supply chains.

• Canada and Japan have expanded national carbon taxes, directly impacting oil producers and heavy industries.

• Southeast Asia, including Indonesia, is exploring phased carbon pricing frameworks aligned with its Net-Zero 2060 Roadmap, signaling a regional shift toward emission accountability.

For investors, these mechanisms increase the cost of carbon-intensive assets while rewarding firms with cleaner, more efficient operations.

3. Massive Public Investment in Clean Energy

Governments are launching unprecedented funding initiatives to accelerate the clean energy transition:

• The U.S. Inflation Reduction Act (IRA) provides over $370 billion in tax credits for renewable energy, electric vehicles (EVs), and carbon capture projects.

• The European Green Deal Industrial Plan mobilizes over €250 billion for low-carbon manufacturing, hydrogen infrastructure, and energy storage.

• China’s 15th Five-Year Plan (2026–2030) emphasizes renewable technology leadership, electric mobility, and localized supply chains for solar and battery materials.

These policies create significant downstream opportunities for investors in renewable infrastructure, green bonds, and climate-focused funds.

4. Financial Market Integration of ESG and Sustainability Disclosure

Financial markets are aligning with sustainability objectives through mandatory ESG reporting standards:

• The International Sustainability Standards Board (ISSB) introduced unified global reporting requirements effective 2025, compelling corporations to disclose carbon exposure, transition plans, and climate-related financial risks.

• Major stock exchanges—including those in Singapore, London, and New York—now require listed companies to report under these frameworks.

• Central banks are integrating climate risks into stress testing, affecting credit ratings and capital adequacy assessments.

This shift makes ESG performance a central determinant of corporate valuation and investor confidence, pushing oil and gas companies to adopt transparent, credible transition strategies.

5. Energy Security and Geopolitical Realignment

The energy transition is also shaped by geopolitical considerations. Recent global supply disruptions—such as conflicts in Eastern Europe and the Middle East—have exposed the vulnerability of fossil fuel dependency. In response, many nations are prioritizing energy diversification through renewables, nuclear power, and regional interconnectivity.

For example:

• The EU’s REPowerEU Plan seeks to eliminate reliance on Russian fossil fuels by expanding renewables and LNG imports.

• Asian economies are building regional LNG hubs and investing in domestic solar and geothermal energy to enhance resilience.

• The Middle East is positioning itself as a global green hydrogen exporter, leveraging existing energy infrastructure for clean energy leadership.

6. Outlook: Policy as a Market Force

Between 2025 and 2030, policy will remain the single most powerful driver of energy market transformation. Governments are no longer passive regulators—they are now active investors, standard-setters, and market makers. For the oil sector, this policy-driven evolution implies a dual challenge: maintaining profitability in a decarbonizing world while investing in the technologies that will define the next energy era.

For investors, aligning portfolios with these global policy trends—through exposure to renewable assets, carbon-efficient companies, and sustainability-linked instruments—will be critical for capturing long-term value while mitigating transition risk.

Lithium Prices Poised to Recover: Key Signals and Insights

After a sharp correction in 2023–2024 driven by oversupply concerns and slower-than-expected electric vehicle (EV) demand, lithium prices are showing clear signs of stabilization and potential recovery entering 2025. As the cornerstone metal of the clean energy transition, lithium remains central to the global shift toward electrification, and its long-term fundamentals are strengthening once again.

1. Market Context: From Boom to Correction

Lithium prices surged between 2021 and early 2023, peaking at record highs due to aggressive EV adoption and constrained supply chains. However, by mid-2024, spot prices for battery-grade lithium carbonate had declined by over 70%, as new production from China, Australia, and South America entered the market, creating a temporary surplus.

This correction phase, while painful for producers, was essential for rebalancing market dynamics and filtering out speculative excess. Many high-cost or low-grade projects became uneconomical, leading to production cuts and project delays that are now tightening future supply expectations.

2. Key Recovery Signals

a. EV Demand Rebound and Policy Support

EV sales are expected to regain strong momentum in 2025, supported by policy incentives in the U.S., EU, and China. The International Energy Agency (IEA) projects global EV sales to surpass 20 million units annually by 2026, up from around 14 million in 2024.
As automakers secure long-term lithium supply contracts to meet sustainability targets, demand pressure is likely to re-emerge in the second half of 2025.

b. Supply Rationalization and Cost Discipline

Several high-cost lithium producers, particularly in China, have reduced output amid low prices. New project investments are being delayed, especially in early-stage exploration.
Major miners are shifting focus toward operational efficiency and cost optimization, improving market discipline — a sign of bottoming prices.

c. Strategic Stockpiling and Battery Expansion

Battery manufacturers are beginning to rebuild inventories after a year of destocking. Expansion in lithium iron phosphate (LFP) and nickel-manganese-cobalt (NMC) battery production, especially in China and India, is expected to lift raw material demand from late 2025 onward.

In addition, state-backed firms in China and Korea are strategically stockpiling lithium reserves to hedge against future supply disruptions — a bullish signal for medium-term prices.

d. Energy Transition Momentum and Critical Mineral Policies

Global policies promoting clean energy and electric mobility are reinforcing lithium’s strategic importance.

• The U.S. Inflation Reduction Act (IRA) includes significant incentives for domestic battery supply chains.

• The EU Critical Raw Materials Act (CRMA) and Japan’s strategic metals program aim to diversify lithium sourcing beyond China.

This growing geopolitical emphasis on supply security is expected to sustain long-term investment in lithium extraction, refining, and recycling.

3. Supply-Side Challenges and Structural Tightness

Despite new projects in Australia, Argentina, and Africa, supply growth remains constrained by capital intensity, environmental permitting, and water usage challenges in brine-based operations.
Analysts forecast that the market could swing back into deficit by 2026–2027, especially if demand accelerates faster than expected.

Longer project development timelines — often 5–7 years for greenfield mines — limit the industry’s ability to respond quickly to demand surges, reinforcing the potential for a price recovery cycle.

4. Price Outlook and Investment Implications

Most market forecasts expect lithium carbonate prices to recover by 20–30% from current lows by late 2025, stabilizing in the range of USD 18,000–25,000 per tonne, depending on grade and region.
However, volatility is likely to persist due to uneven demand growth and speculative activity in China’s spot market.

For investors, this recovery phase presents selective entry opportunities, particularly in:

• Vertically integrated producers with low-cost assets and refining capabilities.

• Battery recyclers and lithium refiners, which benefit from circular economy trends.

• Exploration firms in politically stable, resource-rich regions like Australia, Canada, and Chile.

5. Strategic Takeaway

Lithium’s long-term trajectory remains structurally bullish, underpinned by the global commitment to electrification and net-zero emissions.
While short-term volatility will continue to test investor sentiment, the medium- to long-term outlook favors a gradual price recovery as supply tightens and demand from EVs, grid storage, and renewable infrastructure accelerates.

Investors who focus on high-quality assets, maintain regional diversification, and track policy-driven demand signals will be best positioned to capitalize on lithium’s next growth cycle — turning market turbulence into strategic opportunity.

Nickel and Copper: Strategic Metals Powering the Energy Transition

As the world accelerates toward a decarbonized future, nickel and copper have emerged as strategic metals essential to the clean energy ecosystem. Both play a critical role in the production of electric vehicle (EV) batteries, renewable energy infrastructure, and power transmission systems. Between 2025 and 2035, these metals are expected to experience sustained demand growth driven by electrification, digitalization, and the global push for energy resilience.

1. Nickel: The Energy Storage Enabler

a. Rising Demand from the EV Sector

Nickel is a core component of high-energy-density battery chemistries, especially nickel-manganese-cobalt (NMC) and nickel-cobalt-aluminum (NCA) cathodes used in EVs.
The International Energy Agency (IEA) projects demand for battery-grade nickel to triple by 2030, accounting for more than 40% of total global consumption.

The EV market’s pivot toward longer driving range and faster charging vehicles amplifies demand for high-purity nickel (Class 1). This shift creates a structural opportunity for producers capable of refining nickel to battery-grade standards.

b. Supply Constraints and Processing Challenges

While Indonesia, the Philippines, and Russia dominate primary nickel production, only a fraction of this output meets battery-grade purity.
High-pressure acid leach (HPAL) projects, critical for processing laterite ores, are capital-intensive and environmentally sensitive, leading to project delays and cost overruns.
Supply bottlenecks in refining capacity — especially outside Asia — may constrain availability and drive price volatility through 2026–2028.

c. Strategic Investment Outlook

Nickel prices are expected to stabilize within the range of USD 18,000–22,000 per tonne through 2025, before trending upward as demand outpaces supply.
Investment focus is shifting toward:

• Sustainable refining technologies, reducing carbon intensity and waste.

• Vertical integration by EV manufacturers seeking secure material sourcing.

• Recycling innovations, capturing nickel from end-of-life batteries to support circular supply chains.

2. Copper: The Backbone of Electrification

a. Expanding Infrastructure and Renewable Energy Demand

Copper’s unmatched conductivity makes it indispensable in the transition to clean power systems.
Each electric vehicle requires roughly four times more copper than a conventional car, while solar and wind installations depend heavily on copper wiring, inverters, and transmission grids.

The World Bank estimates that global copper demand from clean energy technologies could double by 2035, driven by renewable generation, electric grids, and urban electrification.

b. Supply Tightness and Declining Ore Grades

Despite rising demand, global copper production faces challenges:

• Declining ore grades in mature mining regions like Chile and Peru.

• Delays in permitting new mines due to environmental and social resistance.

• Concentration risk, with over 40% of global supply coming from just two countries.

These factors contribute to long-term structural tightness, prompting forecasts of potential supply deficits as early as 2026–2027.

c. Price and Investment Outlook

Copper prices are projected to remain robust, trading in the USD 9,000–10,500 per tonne range through 2026, supported by green infrastructure spending and grid expansion.
Key investment themes include:

• Mine modernization and digitalization for improved efficiency.

• Recycling and secondary copper production, addressing supply gaps sustainably.

• Strategic partnerships between mining companies and clean-tech firms to secure long-term supply contracts.

3. Strategic Role in the Clean Energy Economy

Together, nickel and copper form the industrial backbone of the energy transition:

• Nickel enables the storage and performance of clean energy.

• Copper enables its distribution and integration across grids and technologies.

Their combined relevance positions them as high-priority assets for governments and investors alike, with increasing geopolitical attention to supply security, refining capacity, and trade diversification.

4. Investment Takeaway

For investors, nickel and copper offer structural growth opportunities underpinned by policy, technology, and sustainability trends.
However, these markets are not without risk — including price volatility, geopolitical tension, and environmental scrutiny.

Strategic positioning should emphasize:

• Exposure to low-cost, ESG-compliant producers;

• Participation in value-added refining and recycling ventures; and

• Monitoring of policy shifts impacting critical mineral trade and investment flows.

As electrification accelerates, nickel and copper will remain indispensable to the global green economy, offering resilient long-term value amid the volatility of the broader commodities cycle.

Technology as a Growth Driver

Technology has evolved from being a supporting function to a core growth catalyst across industries — including energy, mining, and finance. Between 2025 and 2030, technological innovation will serve as the defining factor that separates adaptive, resilient enterprises from those left behind in an increasingly digital and decarbonized global economy.

From artificial intelligence and automation to blockchain and advanced materials science, technology is reshaping productivity, operational efficiency, and value creation in every segment of the industrial and investment landscape.

Digital Transformation and Operational Efficiency

Across traditional sectors such as oil, gas, and mining, digital transformation is redefining performance metrics.
Advanced technologies — including Internet of Things (IoT) sensors, predictive analytics, and cloud-based asset management systems — enable real-time monitoring of equipment, energy use, and emissions.

These capabilities lead to:

• Reduced downtime and enhanced asset reliability.

• Optimized resource utilization and lower operational costs.

• Data-driven decision-making, improving production forecasts and investment outcomes.

The integration of AI-driven analytics and digital twins — virtual models that simulate real-world operations — allows companies to anticipate maintenance needs, enhance safety, and extend asset lifecycles.

Artificial Intelligence and Predictive Decision-Making

Artificial intelligence (AI) has moved beyond experimentation to become a strategic tool for forecasting and risk management.
In the commodities and energy markets, AI is used to:

• Predict price trends by analyzing real-time global data.

• Model supply-chain disruptions and optimize logistics.

• Enhance exploration accuracy in mining and resource mapping.

Financial institutions leverage AI-powered platforms to conduct digital due diligence, automate ESG scoring, and detect early signs of market anomalies.
The convergence of AI with big data enables investors to make faster, evidence-based decisions, increasing market responsiveness and profitability.

Automation and Robotics in Resource Industries

Automation is transforming how resources are extracted, processed, and transported.
In mining and energy production, autonomous drilling systems, robotic maintenance units, and AI-assisted exploration are improving efficiency and reducing human risk exposure.

For instance:

• Autonomous haul trucks and drones enhance safety while reducing costs.

• Smart mining platforms optimize ore extraction using real-time geological data.

• Energy firms deploy robotic inspection tools for pipelines and offshore rigs, minimizing downtime and environmental hazards.

These technologies not only cut costs but also help meet ESG and safety compliance standards, reinforcing investor confidence.

Blockchain and Supply Chain Transparency

Blockchain technology is emerging as a key enabler of trust, traceability, and transparency in global supply chains — especially for critical minerals like lithium, nickel, and cobalt.

Blockchain-based platforms allow stakeholders to:

• Verify the origin and ethical sourcing of materials.

• Track the carbon footprint of production and transportation.

• Facilitate secure and tamper-proof trade documentation.

This innovation supports both regulatory compliance and consumer demand for responsible sourcing, while reducing fraud and inefficiency in cross-border commodity trade.

Advanced Materials and Energy Innovation

Breakthroughs in materials science and battery technology are driving the next wave of industrial growth.
Developments such as solid-state batteries, lightweight alloys, and nanomaterials are enhancing energy storage capacity, improving grid reliability, and enabling new industrial applications.

The integration of these technologies into EVs, renewable systems, and smart grids creates powerful investment opportunities across manufacturing, infrastructure, and clean energy sectors.

Technology-Enabled Sustainability

Technology is also the cornerstone of sustainable growth.
Digital monitoring tools measure emissions in real time, AI optimizes energy efficiency, and blockchain verifies ESG compliance.
Incorporating technology into sustainability strategies enables companies to meet regulatory requirements, attract ESG-focused investors, and gain access to green financing mechanisms.

Strategic Outlook: Innovation as a Competitive Advantage

By 2030, the line between technology companies and traditional industries will continue to blur.
Organizations that harness digital innovation, automation, and AI will not only improve productivity but also create new business models centered on agility, transparency, and sustainability.

For investors, technology represents a cross-sector growth multiplier — enhancing performance in commodities, energy, manufacturing, and finance.
Allocating capital toward technology-driven enterprises and infrastructure is therefore not just a trend, but a strategic imperative for long-term competitiveness in the global economy.

Investment Opportunities in Digital Infrastructure and Green Technology (2025–2030)

As the global economy transitions toward a digital and low-carbon future, the intersection of technology and sustainability presents one of the most compelling investment frontiers of the decade. Between 2025 and 2030, digital infrastructure and green technologies are projected to attract unprecedented levels of private and institutional capital, reshaping industrial competitiveness and redefining value creation across sectors.

1. The Rise of Digital Infrastructure as the New Asset Class

Digital infrastructure — encompassing data centers, fiber networks, cloud computing, and 5G connectivity — has become a foundational enabler of the modern economy.
The exponential growth of AI applications, remote operations, and IoT ecosystems drives surging demand for high-performance, energy-efficient digital networks.

Key investment signals include:

• Data center expansion across Asia, the Middle East, and Africa, driven by AI workloads.

• The rise of hyperscale computing facilities powered by renewable energy.

• Edge computing investments supporting automation and smart manufacturing.

Governments and private investors are increasingly viewing digital infrastructure as critical national assets, with strong potential for long-term, inflation-protected returns.

2. Green Technology and the Decarbonization Imperative

The global commitment to net-zero emissions has accelerated funding toward clean energy systems, electrification, and carbon capture technologies.
Investors are focusing on scalable solutions that reduce emissions while ensuring energy security and industrial resilience.

Major growth segments include:

• Renewable energy infrastructure — particularly solar, wind, and hydrogen.

• Energy storage systems, especially lithium-ion and solid-state batteries.

• Carbon capture, utilization, and storage (CCUS) projects.

• Electric vehicle (EV) supply chains and charging infrastructure.

By 2030, the clean energy transition is expected to generate multi-trillion-dollar investment flows, with Asia-Pacific and the Middle East emerging as pivotal regions for large-scale deployment.

3. The Convergence of Digital and Green Systems

The integration of digital intelligence with sustainable infrastructure is driving a new phase of industrial evolution known as “twin transition” — digital and green transformation advancing in parallel.

Examples include:

• AI-driven smart grids optimizing renewable energy distribution.

• Blockchain-enabled carbon tracking improving transparency in emissions reporting.

• Digital twins for predictive maintenance of renewable energy assets.

• IoT-based energy management systems reducing industrial power consumption.

These synergies enhance both efficiency and sustainability, offering investors exposure to multiple value drivers — innovation, cost reduction, and ESG performance.

4. Financing Innovation: From Venture Capital to Sovereign Funds

Investment capital is flowing through diverse channels — from early-stage venture capital to large-scale sovereign and institutional funds.
Notably, green bonds, sustainability-linked loans, and climate-focused private equity are rapidly expanding as preferred vehicles for funding the transition.

Trends to watch:

• Sovereign wealth funds diversifying into AI and renewables.

• Growing issuance of green sukuk (Islamic sustainable bonds) in emerging markets.

• Expansion of public–private partnerships (PPP) for clean energy and data infrastructure.

This evolving financial ecosystem underscores a paradigm shift where profitability and sustainability are no longer opposing forces, but mutually reinforcing goals.

5. Strategic Outlook: The Decade of Convergence

Between 2025 and 2030, investors will increasingly allocate capital to assets that combine technological scalability with environmental resilience.
The strongest opportunities will lie in ventures that harness data, automation, and renewable energy to create sustainable productivity gains.

In this new era, success will depend on the ability to identify ecosystems where digital innovation and green growth intersect — forming the backbone of the next industrial revolution.