S8E95: Marcos Enriquez / ISIFarmer - ISIFarmer's Urban Farming Movement: Cultivating Health, Community, and Sustainability

[0:00:00] Harry Duran: So Marcos Enriquez, founder at ISI Farmer, thank you for joining me on the Vertical Farming podcast.

[0:00:05] Marcos Enriquez: Thank you, Harry.

[0:00:06] Harry Duran: Do you remember how we cross paths or how you heard of the show?

[0:00:09] Marcos Enriquez: I've been hearing you for a while. It seems like I know you very well from way back, especially during COVID I've been listening a lot about you lately, even more because there seems to be a lot of things that join us in certain ways. And one of them is we're doing some consulting work for the city of Malaga in Madrid in Spain. I'm sorry. And the City of Malaga is competing against Minneapolis for the Expo International Expo in 2027.

[0:00:43] Harry Duran: Okay.

[0:00:44] Marcos Enriquez: So we want to share with Malaga how vertical farming could be the center of that sustainable city. And doing the research, I find that Minneapolis is also a candidate for this Expo. And you live in Minneapolis. That was like, wow, how coincidence.

[0:01:02] Harry Duran: Yeah, it was interesting because I'm recently here, I've been here for, I think going on four years. I moved here in 2019, but I grew up in New York, I was born in El Salvador, so I came here when I was a year old. So it's been interesting. And I've lived also in La for four years prior to Minneapolis. So I've experienced the big cities and now getting a taste of what life is like here in the Midwest. But I think I did remember hearing something about that. Do you know when they're going to be making a decision on that?

[0:01:30] Marcos Enriquez: Well, I know there's another voting process coming up in June, so I'm not sure if that's the final one or if that's going to or three cities. Right now there's five candidates and Malaga is rooting for it really bad. But the mayor is also saying whatever we're doing for the sustainable city, it will persist whether we get elected or not. So it makes a lot of sense what they're doing there.

[0:01:57] Harry Duran: How many cities are being considered?

[0:01:59] Marcos Enriquez: It's five right now. One I think is barely loche in Argentina. Then you have Belgrade in Serbia, Phuket in Thailand, Malaga in Spain and Minneapolis in the US. Interesting, very wide variety of cities all over.

[0:02:18] Harry Duran: Do you know how that process works? Do they usually start to eliminate them one by one so that you're left with four, then three, then two? Is that how it works?

[0:02:24] Marcos Enriquez: Something like that. But what I've read mostly is that all the cities that pertain to the alliance vote in one vote. So like, for example, we consider Spain to be closer to the Latin American company countries. And being that there's a lot of them there, it would be great if Argentina wasn't part of it because mostly we're thinking they'll probably vote for Argentina. Again, it's a very maybe political voting process because a lot of people don't really look into the actual program that each one of them is presenting right.

[0:03:02] Harry Duran: Okay, so talk to me a little bit about your history with vertical farming. You mentioned you were listening to the podcast, but what was happening? Maybe to rewind it back a little bit more, like, how did you first start to get involved?

[0:03:13] Marcos Enriquez: Well, let me tell you the whole process. I'm a serial entrepreneur. I've started several different companies. Actually, most of them are my obsession for the sharing economy. My first portal had several different services. One of them was to upload games and jokes, all that stuff. At that time we were all sharing via email. We created a site so that we empowered the user to actually upload the content. They also had chat area where they could actually buy credits to be the owner of a chat session and they would choose what type of content or who would join. After that I built an audiovisual platform very similar to YouTube and allowed the user to upload videos and monetize them. After that I started a Ranking.com, which was the voters choice that would make the best product or service. Also I traveled to Mexico for a while. I started there my app, which was a site or an application that would allow the user to be a concierge. Actually this was professional people that wanted to sell either tickets or hotel reservations or whatever and they would get a commission based on that. So you see most of the apps and programs that I've made were related to the sharing economy.

[0:04:42] Marcos Enriquez: The latest probably was a blockchain company that I built to do the traceability of vegetables from seed to plate. And that didn't really have too much involved with sharing. But I did manage to see that there was a big, big problem with all the agri food supply chain from start to finish. And that made me look into it a lot further.

[0:05:07] Harry Duran: How far along did you get with the Blockchain project?

[0:07:05] Marcos Enriquez: I got five or six different clients and the main problem there was that some of them told us, okay, I want this product to show up in Blockchain because you can't change it after it's uploaded that information. And he says, but not this other product. I don't want this other product to show up. And I was like, why not? What's the problem? And doing the investigation and the due diligence on that, we found out that a lot of farmers are cutting not farmers, but the whole chain. They're cutting corners and they're looking into how to make the most money or how to get by the different regulations that they are. So for me it was a breaking point figuring out that with Blockchain I was not going to be able to solve this problem. But doing the due diligence with some of the companies, I found out that there was the hydroponic system and seeing how you can create crops anywhere, you can cultivate anywhere, I figured, okay, instead of the seed and seeing what to do. Let's take the seed over to the point where it's being consumed and let's see if there's enough technology to solve that issue and to cultivate directly at the place. And this is when we figured out that there was enough technology to cultivate anywhere. So we did a minimal viable product and we started cultivating just about anywhere we could. I even brought home a couple of hydroponic systems and I figured if I can do it, anybody can do it. And that's when it came to me that sharing economy, this would be the best example of a sharing economy. That what I can figure out is if I can get anybody to cultivate in the middle of the city and we can create the platform to join the producer with the consumer.

[0:07:05] Marcos Enriquez: And this is where we're standing, that's easy farmer. It's a platform of urban farmers that we're going to create the software and all the needed elements to join the producer with the consumer. And we're starting right here in Madrid doing a 400 square meter co working urban farming platform. So that urban farmers, we can teach them, show them how to do it, and even guide them directly through in the same warehouse that we are all at, at the same time.

[0:07:38] Harry Duran: So talk to me a little bit about the setup and what's your definition of urban farmers and then how the platform actually works. And is this for individual people in their homes who are going to be wanting to do this? Or are you partnering with supermarkets and farms that can grow on a larger scale?

[0:07:55] Marcos Enriquez: Well, as you can see, the vision is to join the growers with the consumers. But where to start? Right now we are choosing Madrid and a co working area where we can feed about ten urban farmers. And what we define as an urban farmer right now is actually anybody that we can teach them how to produce. But we've decided to focus mainly on fruits and vegetables. Distributors in Madrid, they already exist. They're already serving different restaurants and different hotels with high quality products in Madrid. And most of them try to get local products. And local is within 100 km around Madrid, obviously, because you can't be producing in the middle of the city. But we've chosen some of these and what we want them is to start producing in our co working space so that they can distribute those products which are not obviously all that they're taking to their clients. We decided to start with microgreens because that's a produce that we can fairly easily produce. It's fast. And right now there's a lot of request from high end restaurants in Madrid that we want that produce and with that produce solves, one of the major issues is that the price of lettuce, for example, here in Madrid, is very cheap. So starting to produce that type of produce will get us in a big bind because we will not be able to produce at the cost that you can sell. So that's why we decided to use or start with microgreens first.

Harry Duran [0:09:37]

And what technology are you using to grow this? Is this all created in house or are you partnering with other suppliers for building the farms?

[0:09:45] Marcos Enriquez: We're partnering with several suppliers and right now we're discussing with a couple of different producers or hardware. I call them hardware. They're producing all the vertical farming hardware that we need. Cultivate is helping us also choose the right partner for the right products that we want to produce. And additionally, we have certain requirements. I call it a box theory. And here is I usually use the thermal mix theory. I say I'm a terrible cook, I can't cook. But if I go into the kitchen with a thermal mix, which is a robot, a cooking robot, and I follow the recipe straight off the line, I always get good results. So this is the same concept that we want to apply. We're thinking of a box that it's closed. It's totally controlled environment in the box. So our urban farmers separately could have their own boxes and they can cultivate on a separate mode. And they could put the recipes, depending on what they're cultivating, in each one of the controlled environments. So this is why we're right now concentrating on boxes that are totally separate from one another and that could be completely controlled environment.

[0:11:05] Marcos Enriquez: These boxes are two by two, so they're quite big, but they're not as big as a container. And the main reason why we're not going with containers is because here in Spain, and I guess in all of Europe, the cities are more constraint than in the US. So putting a container anywhere will probably not the best option, even though we can still use containers in certain places.

[0:11:29] Harry Duran: And two by 2 meters by 2 meters?

[0:11:31] Marcos Enriquez: Yes, 2 meters by 2 meters.

[0:11:33] Harry Duran: And are any of the farms functional yet? Are they started producing?

[0:11:37] Marcos Enriquez: No, we started with a minimal viable product that we've produced ourselves in different places. And now we're working on the construction of the final or the first co working vertical farming co working in Madrid. It's about 400. It will have the capability of doing all four areas that we think are essential. The first area is the production, where we will have the boxes. Another area for the microgreens to start up the Harmony Chamber. Another for actually packaging in the same place. By the way, we do have a solar system, solar panels prepared for that. And we also have an electronic vehicle that the urban farmers can share to actually distribute their produce. And we have a small area for office space and general training, whatever you need in that area. So it has all these different areas, even though it's 400 m², which is quite small, it has a lot of space and it's also very tall, so we can go with about 5 meters tall shelves.

[0:12:46] Harry Duran: And so talk to me a little bit, Marcos, about the plan for the farmers. Do they come experienced? Because a lot of the times, as you're familiar with conversations I've had on the show, there's a wide range of companies that are just getting started, have a product in place, and obviously the big companies that have gotten proper funding. So I'm curious, and I like to share stories of folks that are just getting started in this space because there are certain challenges for first time farmers, especially when it comes to considerations around what equipment to use, what prop to raise and how to market and how to build those relationships with, in your case, the restaurants. So I'm curious if we could just kind of dig a little deep into that, because I know some listeners are just getting started and they're curious about all the moving parts and which one is more important to get in place first. And obviously, from having returned from indoor icon, it's clear for smaller farms, it's really important to have those agreements in place almost before you grow, because obviously the biggest challenge is to grow something and then not have anywhere to sell it. So I'm wondering if you could talk a little bit about that.

[0:13:52] Marcos Enriquez: Okay, the first thing is when we talk about this theory of the thermomix robot, the same thing we want to apply to the produce that we start producing initially. And that is we need to have products that have been well tested in the technology that we're using and with the right recipe. What we want to do at first and while we train the vertical farmers, is to have the production area. Practically only the manager of the co working is the only person that will be able to go back there. And our boxes are set up so that with a small trolley, you can grab a box and take it to the manipulation area. So in this sense, there's not a lot of people handling and not a lot of opportunities of getting the area contaminated or to mess up with anything. I mean, obviously we're going to have cameras and monitoring devices so that if there is any problem, you can grab the box that has the problem, take it out, fix it, even if it has to be disposed of. It's only that one box. It's not the entire production in the whole of the production area. So in this case, what we plan to do is have very simple and I know that when we're talking about all these types of produce and all these type of plants, they're life plants and they could come up with different problems. But in general, they're all tested with the right recipe and the right seeds. And if you put those in the box, it should always work, or most of the time. And whenever there is a problem. We will have the procedures to find out what the problem is. But in general, you have a box, you have a recipe, and that should not go wrong.

[0:15:52] Marcos Enriquez: It should go out. And then the urban farmer will grab it and distribute it to his client. What we figured, and this is why we're choosing people that already have business agreements with local restaurants, is for them to already have this relationship with the restaurants and that's why they're going to be selling directly to them. We've also contacted several different distributors that are already distributing in high end restaurants in Madrid. And those are also options that we can use to distribute more produce if we don't have enough with the people, with the urban farmers that we've selected initially. So those two areas basically trying to control absolutely the entire process without having too many hands messing around with the produce. And lastly, already with agreements with local entities. I know this for a start, is something that might work initially, but obviously in the long run, if we don't have all the applications and all the procedures and all the platforms ready to connect the consumer with the producer, that's not going to be enough what we're doing initially. But if it does work initially, it's going to be a great takeoff with Microgreens in Madrid.

[0:17:19] Harry Duran: The farmers that you're working with, are they first time farmers or do they have experience with vertical farming? Previously?

[0:17:24] Marcos Enriquez: No, no experience with vertical farming, but they do have with produce handling. So they have been distributing produce locally but not producing? No. That's why we're going to have a manager in the co working area that's going to be the expert in hydroponics and the expert in management of the crops.

[0:17:46] Harry Duran: And do the farmers, do they have a percentage ownership of their box or do they own it completely or talk a little bit about the business agreement with those farmers and how they come on board.

[0:17:58] Marcos Enriquez: Okay, the business model, we're still working on the details, but in general, we've got a company that's a finance company that will actually rent out with a leasing plan, the box to each farmer. So the farmer will pay an amount for the box on a monthly basis. He will pay for the coworking space on a monthly basis based also on the amount of produce that he produces on the box, because that includes the water, includes the electricity, even the sharing of the electrical vehicle. So with a monthly payment, the urban farmer will be able to have we figured that in one of these boxes you can produce up to five tons of microgreens per year. And the price that it's sold right now goes anywhere from 20 AOTOS to about 60, in some cases higher for kilo. So that means that with one box you can be not farming, but producing. Yeah, producing about 100,000 AOS a year, out of which only about 20 or 30,000 is cost between the leasing of the machinery and the leasing of the coworking space. So there's still a big margin. And obviously, again, that's why we chose microgreens initially. And we know this is not scalable and completely transferable to other produce, but it does seem like prices are going up for all of the products that we can produce, from leafy greens to herbs. And everything seems to be on the right track. But it is true that starting off, if you don't have a big margin produce, you will probably face a lot of urban farmers that will not make ends meet and it will not be a good choice for them. So even if we start with ten urban farmers in Madrid that only those ten can make a good living, that's what we want to start. And then we'll see how that works out in producing either other produce or going into different cities and doing the same thing if it does work out, good.

[0:20:16] Harry Duran: I'm curious for these farmers, since it's their first time in this space as a vertical farmer, how much help or training is going to be provided in terms of how they can best build those relationships with these restaurants or with the people who are going to be buying these microgreens? Because it's obviously something that's very interesting for a lot of folks that are just getting started, not only to see if it makes sense financially. And obviously you've outlined a little bit of that, which I think is helpful, but also understanding how much work they're responsible to continue to put in to build those relationships, to maintain those relationships. Because essentially now that relationship with the restaurant or the market is really important for them because if they can continue to produce, they want to make sure that they continue to have someone to buy that from them.

[0:21:01] Marcos Enriquez: Yes, that's very interesting. And even on the far side of what you're just saying, imagine if that relationship with the restaurants could be so tight as to say, okay, what type of microgreens do you want? I can produce these types of microgreens. Do you want some of this so that the restaurant feels like they can invent a new menu based on what this farmer is giving him and also teaching them how to sell that this is not only a local product produced within the last mile of them, but also the freshest and personalized for the restaurant themselves. Right?

[0:21:48] Harry Duran: Yeah.

[0:21:48] Marcos Enriquez: So all this together with the fact the ten urban farmers that we're choosing right now, already come from the distribution side and they already have some of the relationships and they already have some of the commercial know how of how to sell. Maybe this type of product is something that we have to specifically teach them how to get the best value of that. We're also working with the city of Madrid and also the city of Malaga. Which I was telling you about earlier. And what we want to do with the cities is we already have this know how of working with coworking areas, the vertical farming coworkings of Madrid. The cities already are setting up coworkings for other startups and other verticals in the arena. They right now don't know much about vertical farming, but when we're talking to them, they're very interesting about this. Because not only does it provide an opportunity to produce in the city to produce food that you're producing in the city but also you have the opportunity of training people that are in different types of they either are unemployed or they have certain discapacity or whatever it is. And this type of work is available for everybody, including people on a wheelchair. We have the area prepared for all types of people to come in and to produce and to sell. This is very interesting for the cities. And what we're offering the cities and other institutions is we already have the know how of doing this. We can build it for you. We can build you a vertical farming co working in your city or in your vicinity so that you can also take advantage of those opportunities. And EC Farmer will actually be selling the training, the seeds, the general supplies for that co working in whatever area.

[0:24:02] Marcos Enriquez: But what we want to create is a network of Duran farmers distributed throughout the cities. And we figured that doing this co working areas is the easiest way to control the production in all its facets.

[0:24:18] Harry Duran: So talk to me about timeline. Where are you now with the farms in terms of up and running? Are the contracts in place? Are all the farmers on board? And what's the roadmap look like for the next six months?

[0:24:31] Marcos Enriquez: Well, it's been tough because, as you know, starting any business, you have a whole bunch of different problems. But right now we already have the warehouse in Madrid, we already have some minor production and we're in the midst of closing the agreements with the hardware companies, with the finance companies, and with even some of the Oberm farmers that we already contacted. But we're still not working because we're still under construction of the first co working area in Madrid. The productions that we've been doing in other places, we are all bringing it right into the warehouse of Madrid. And we're going to be starting before the summer on the whole co working area in Madrid. So that's also why we're looking for finance and we're doing around for investors to raise about 500,000 elders that we need to finalize the first go working in Madrid.

[0:25:34] Harry Duran: And what's been the response or the support from the city?

[0:25:37] Marcos Enriquez: Well, in politics it's very difficult because right now, Spain in general is very hectic. We got elections coming up in May and the whole political arena is very compulsive. But in Malaga, for example, we're advancing tremendously with them not only because like I told you, they're aiming for the expo of the International Expo of 2027, which makes them very proactive to getting this type of coworkings in the city active. And they're also very active in general Co workings in the cities. So the cities are I think they're going to come around, even though I for EC Farmer does not want to depend absolutely on the cities and what they can the contracts that they can close with us.

[0:26:32] Harry Duran: Yeah. And so where do you see that the most challenges for you in terms of next steps and given the current climate for the support from the city?

[0:26:42] Marcos Enriquez: Well, obviously the biggest challenge is what you said basically is training the Duran farmers and making sure that the produce is high quality and comes out with the help of all these urban farmers, local uber farmers. So that's going to be the big challenge. I didn't tell you, but I was also in the US army and you know that. SOP that you have to follow and to have a strict control of what's going on in the farms. Well, that is a challenge that we're working on and we want to make sure that our coworking areas and our cowork and our production areas are completely controlled in all its ways. So that is obviously the biggest challenge that we're going to be finding in the next near future.

[0:27:34] Harry Duran: Yeah. I think what's been consistent and from all the conversations I had both at the conferences and on this show, is the importance of standardization. Because when you talk about wanting to produce a consistent product and having your buyers be comfortable, that what they're going to be getting. Every single crop is going to be consistent with what they expected from you. And the only way to do that is with standard operating procedures, with SOPs to make sure that there's everything clear all along the path. So the fact that you're doing that and thinking about that from day one, I think is really important. Where else do you see opportunities in Spain or I'm just curious how you ended up here. Obviously you've got the entrepreneurial mindset, but I'm curious where you're seeing opportunities and how much of this is your initial focus right now.

[0:28:21] Marcos Enriquez: Well, the big opportunity obviously is to scale it in different cities and in different places. Actually, this type of system will actually work anywhere where there is a demand for these type of products. So obviously once we get that going, I think it's just a matter of scaling it city by city and figuring out how to do the right scale of the Co working areas throughout the city. I'm thinking that we're going to need a major not production area, but just a major big area where we can produce enough to also support the urban farmers in different places where they might not be able to produce the right varieties. And the way to fill the demand. So, yeah, the big challenge would be what is the right scale and what is the right number of coworking areas and where and what to produce inside. And obviously I'm thinking of that. We'll come up with big data and once we get all the software in place, we'll be able to know exactly where to produce and how to do that last mile distribution the best possible way so that you have the products that you need at the place that you need it at the right time in place.

[0:29:47] Harry Duran: Yeah. I'm curious, we talked a little bit about your journey and how you got here, but why is this initiative now so important for you?

[0:29:56] Marcos Enriquez: Well, like I said, I've been starting for a long time. I've been starting startups since I can remember. And it's always been, like I said, in the sharing economy and empowering the user. In my case, in the Internet, it was always about the user. And now I think that the most important thing is feeding each other, right? We're feeding the global population and the growing population. So it's not a matter of competing or disrupting any one industry. It's a matter that we all have to come together to feed the world and to have a different way. And one thing that I always thought about this is as an entrepreneur, you're always thinking of pivoting in one case, and always you have in the back of your mind what if, what's plan B? And in this case, plan C or D is that I'll never go hungry again. I'll always have food, I'll always be able to produce my own food and also healthy food. So in general, I think this is the right solution. A lot of times I've started companies that are ahead of its times. I've always started companies that way ahead of its times. And then some other company that does exactly the same comes five or six years later and they totally crush it.

[0:31:23] Marcos Enriquez: In this case, I think, even though in Spain there's only three or four vertical farming companies. But they're all going to work and going to work right, because you're producing food that people need and it's obviously going to work. I think that's that question well, I.

[0:31:43] Harry Duran: Think it's important to also talk about all the different opportunities that exist and all the different ways people are entering this space. And obviously people that come from farming backgrounds, people that come from entrepreneurial backgrounds, technology backgrounds. I think everyone has that passion for figuring out the problems, for access to fresh food. I talked a little bit about in my latest newsletter about food deserts and how these low income neighborhoods traditionally have not had access to food. And I'm sure that's a challenge across the world as well. So I think it's one of those things that where I feel like every little bit is going to help and is needed. And so. I'm glad that we get to share some of these early stories as well, so that everyone knows people who are interested in getting started are going to want to hear updates. And so I invite them to connect with you because they're going to want to know if you succeeded. Right. They're going to see they understand now the challenges that you face, the plan that you're taking, the focus on microgreens, and then the fact that you have to train these farmers and create these new positions. So there's a lot on your plate. It sounds like you've got a lot to take care of, but I think if you can make it succeed, it's going to be good for the city and also good for sharing the stories of successful farms, which I think is really important.

[0:33:00] Marcos Enriquez: Correct.

[0:33:02] Harry Duran: And so I like to leave always a little bit of time at the end of the interviews for any message you have or any ask that you have of people and your colleagues in the vertical farming space. I know this is something that's relatively new for you, but I'm curious if there's anything that comes to mind for you.

[0:33:18] Marcos Enriquez: Well, obviously what we mostly need right now is over in farmers that help us produce. But I would like to ask and take advantage of your position in asking two things. One is for people to vote for Malaga for the expo, not Minneapolis.

[0:33:37] Harry Duran: I'm just joking. That's okay. I don't have any strong feelings about it. Whoever is the right one to win, I think should win.

[0:33:45] Marcos Enriquez: No, but one thing that I really want to ask from your platform is right now I'm looking for capital from investors, and I'm seeing all the Spanish investors, and the ones that I'm most typically involved with are digital startups and all those type of investors, which is fine. And I'm finding that a lot of people are interested, and I'm sure it's going to work. But I would like to do my pitch to some international investors. So this is a great opportunity to ask for international investors that might want to get involved with a vertical farming company directly in Spain. This is a good opportunity for us to get to know each other and look me up via LinkedIn so that I can do the pitch on an international level. I'm hoping for something to come out of that, whether it's the providers or distributors or there's a whole world to be discovered. And my idea of escalating with co working areas, I think is something that could be used just about anywhere in the world.

[0:35:06] Harry Duran: Yeah, I agree. Well, thanks for making that pitch. And obviously, if anyone's listening, what we'll do is make sure we have your contact information. I'll include your LinkedIn profile in the show notes. The website is ecfarmer. That's isifarmer.com, any other sites or places you want to point people to?

[0:35:25] Marcos Enriquez: No, that's it. EC. Farmer is EC. It's obviously spelled ISI farmer, and it actually comes from Isidro San Isidro, which is the saint of all farmers.

[0:35:41] Harry Duran: Oh, nice.

[0:35:42] Marcos Enriquez: When we decided on the name, it was Easy, because Easy is a Sanisidro Labrador, which is in Spanish, the farmer. And he's a saint of all farmers worldwide. So it's not something that it's completely Spanish. It's very international. Isidro Labrador is an easy farmer. Also, it reminds you of easy farming, which is also part of our objective. So that makes it all. The name has a meaning.

[0:36:17] Harry Duran: Yeah. And that's something that I didn't know. And it's nice to know that there is a patron saint of farmers, which is something every little bit helps, even if it's a blessing from the saint of all farmers. And I think that's helpful to know. And thank you for sharing that.

[0:36:30] Marcos Enriquez: Yeah. I know that your Latin background. So the saying goes, sani cedro labrador Kitala pong el sal. So it's saying, Take the water, which makes sense. Right now, we're using a lot less water and we're still using the sun because we're using the solar panels. So it makes a lot of sense, all these things. And we're actually going back to basics also, and trying to get the Duran farmers to distribute locally, which kind of reminds you of our ancestors, the way they produced and they fed their neighbors and that type of last mile distribution.

[0:37:10] Harry Duran: Right, yeah, definitely. Well, I applaud all the work that you're doing because I know it's not easy, especially as a fellow entrepreneur. And in this environment, there's a lot of moving parts and a lot of things that you have to keep an eye on just to make sure that this succeeds. So I'm wishing you success and just keep us updated on the progress.

[0:37:29] Marcos Enriquez: Thank you so much, Harry.

[0:37:31] Harry Duran: Thank you for your time. Marcos. I really appreciate it.

[0:37:33] Marcos Enriquez: Thank you. Goodbye.