!function(t,e,i,s){function n(e,i){this.settings=null,this.options=t.extend({},n.Defaults,i),this.$element=t(e),this._handlers={},this._plugins={},this._supress={},this._current=null,this._speed=null,this._coordinates=[],this._breakpoint=null,this._width=null,this._items=[],this._clones=[],this._mergers=[],this._widths=[],this._invalidated={},this._pipe=[],this._drag={time:null,target:null,pointer:null,stage:{start:null,current:null},direction:null},this._states={current:{},tags:{initializing:["busy"],animating:["busy"],dragging:["interacting"]}},t.each(["onResize","onThrottledResize"],t.proxy(function(e,i){this._handlers[i]=t.proxy(this[i],this)},this)),t.each(n.Plugins,t.proxy(function(t,e){this._plugins[t[0].toLowerCase()+t.slice(1)]=new e(this)},this)),t.each(n.Workers,t.proxy(function(e,i){this._pipe.push({filter:i.filter,run:t.proxy(i.run,this)})},this)),this.setup(),this.initialize()}n.Defaults={items:3,loop:!1,center:!1,rewind:!1,mouseDrag:!0,touchDrag:!0,pullDrag:!0,freeDrag:!1,margin:0,stagePadding:0,merge:!1,mergeFit:!0,autoWidth:!1,startPosition:0,rtl:!1,smartSpeed:250,fluidSpeed:!1,dragEndSpeed:!1,responsive:{},responsiveRefreshRate:200,responsiveBaseElement:e,fallbackEasing:"swing",info:!1,nestedItemSelector:!1,itemElement:"div",stageElement:"div",refreshClass:"owl-refresh",loadedClass:"owl-loaded",loadingClass:"owl-loading",rtlClass:"owl-rtl",responsiveClass:"owl-responsive",dragClass:"owl-drag",itemClass:"owl-item",stageClass:"owl-stage",stageOuterClass:"owl-stage-outer",grabClass:"owl-grab"},n.Width={Default:"default",Inner:"inner",Outer:"outer"},n.Type={Event:"event",State:"state"},n.Plugins={},n.Workers=[{filter:["width","settings"],run:function(){this._width=this.$element.width()}},{filter:["width","items","settings"],run:function(t){t.current=this._items&&this._items[this.relative(this._current)]}},{filter:["items","settings"],run:function(){this.$stage.children(".cloned").remove()}},{filter:["width","items","settings"],run:function(t){var e=this.settings.margin||"",i=!this.settings.autoWidth,s=this.settings.rtl,n={width:"auto","margin-left":s?e:"","margin-right":s?"":e};!i&&this.$stage.children().css(n),t.css=n}},{filter:["width","items","settings"],run:function(t){var e=(this.width()/this.settings.items).toFixed(3)-this.settings.margin,i=null,s=this._items.length,n=!this.settings.autoWidth,o=[];for(t.items={merge:!1,width:e};s--;)i=this._mergers[s],i=this.settings.mergeFit&&Math.min(i,this.settings.items)||i,t.items.merge=i>1||t.items.merge,o[s]=n?e*i:this._items[s].width();this._widths=o}},{filter:["items","settings"],run:function(){var e=[],i=this._items,s=this.settings,n=Math.max(2*s.items,4),o=2*Math.ceil(i.length/2),r=s.loop&&i.length?s.rewind?n:Math.max(n,o):0,a="",h="";for(r/=2;r--;)e.push(this.normalize(e.length/2,!0)),a+=i[e[e.length-1]][0].outerHTML,e.push(this.normalize(i.length-1-(e.length-1)/2,!0)),h=i[e[e.length-1]][0].outerHTML+h;this._clones=e,t(a).addClass("cloned").appendTo(this.$stage),t(h).addClass("cloned").prependTo(this.$stage)}},{filter:["width","items","settings"],run:function(){for(var t=this.settings.rtl?1:-1,e=this._clones.length+this._items.length,i=-1,s=0,n=0,o=[];++ii;i++)t=this._coordinates[i-1]||0,e=Math.abs(this._coordinates[i])+o*n,(this.op(t,"<=",r)&&this.op(t,">",a)||this.op(e,"<",r)&&this.op(e,">",a))&&h.push(i);this.$stage.children(".active").removeClass("active"),this.$stage.children(":eq("+h.join("), :eq(")+")").addClass("active"),this.settings.center&&(this.$stage.children(".center").removeClass("center"),this.$stage.children().eq(this.current()).addClass("center"))}}],n.prototype.initialize=function(){if(this.enter("initializing"),this.trigger("initialize"),this.$element.toggleClass(this.settings.rtlClass,this.settings.rtl),this.settings.autoWidth&&!this.is("pre-loading")){var e,i,n;e=this.$element.find("img"),i=this.settings.nestedItemSelector?"."+this.settings.nestedItemSelector:s,n=this.$element.children(i).width(),e.length&&0>=n&&this.preloadAutoWidthImages(e)}this.$element.addClass(this.options.loadingClass),this.$stage=t("<"+this.settings.stageElement+' class="'+this.settings.stageClass+'"/>').wrap('
'),this.$element.append(this.$stage.parent()),this.replace(this.$element.children().not(this.$stage.parent())),this.$element.is(":visible")?this.refresh():this.invalidate("width"),this.$element.removeClass(this.options.loadingClass).addClass(this.options.loadedClass),this.registerEventHandlers(),this.leave("initializing"),this.trigger("initialized")},n.prototype.setup=function(){var e=this.viewport(),i=this.options.responsive,s=-1,n=null;i?(t.each(i,function(t){e>=t&&t>s&&(s=Number(t))}),n=t.extend({},this.options,i[s]),delete n.responsive,n.responsiveClass&&this.$element.attr("class",this.$element.attr("class").replace(new RegExp("("+this.options.responsiveClass+"-)\\S+\\s","g"),"$1"+s))):n=t.extend({},this.options),(null===this.settings||this._breakpoint!==s)&&(this.trigger("change",{property:{name:"settings",value:n}}),this._breakpoint=s,this.settings=n,this.invalidate("settings"),this.trigger("changed",{property:{name:"settings",value:this.settings}}))},n.prototype.optionsLogic=function(){this.settings.autoWidth&&(this.settings.stagePadding=!1,this.settings.merge=!1)},n.prototype.prepare=function(e){var i=this.trigger("prepare",{content:e});return i.data||(i.data=t("<"+this.settings.itemElement+"/>").addClass(this.options.itemClass).append(e)),this.trigger("prepared",{content:i.data}),i.data},n.prototype.update=function(){for(var e=0,i=this._pipe.length,s=t.proxy(function(t){return this[t]},this._invalidated),n={};i>e;)(this._invalidated.all||t.grep(this._pipe[e].filter,s).length>0)&&this._pipe[e].run(n),e++;this._invalidated={},!this.is("valid")&&this.enter("valid")},n.prototype.width=function(t){switch(t=t||n.Width.Default){case n.Width.Inner:case n.Width.Outer:return this._width;default:return this._width-2*this.settings.stagePadding+this.settings.margin}},n.prototype.refresh=function(){this.enter("refreshing"),this.trigger("refresh"),this.setup(),this.optionsLogic(),this.$element.addClass(this.options.refreshClass),this.update(),this.$element.removeClass(this.options.refreshClass),this.leave("refreshing"),this.trigger("refreshed")},n.prototype.onThrottledResize=function(){e.clearTimeout(this.resizeTimer),this.resizeTimer=e.setTimeout(this._handlers.onResize,this.settings.responsiveRefreshRate)},n.prototype.onResize=function(){return this._items.length?this._width===this.$element.width()?!1:this.$element.is(":visible")?(this.enter("resizing"),this.trigger("resize").isDefaultPrevented()?(this.leave("resizing"),!1):(this.invalidate("width"),this.refresh(),this.leave("resizing"),void this.trigger("resized"))):!1:!1},n.prototype.registerEventHandlers=function(){t.support.transition&&this.$stage.on(t.support.transition.end+".owl.core",t.proxy(this.onTransitionEnd,this)),this.settings.responsive!==!1&&this.on(e,"resize",this._handlers.onThrottledResize),this.settings.mouseDrag&&(this.$element.addClass(this.options.dragClass),this.$stage.on("mousedown.owl.core",t.proxy(this.onDragStart,this)),this.$stage.on("dragstart.owl.core selectstart.owl.core",function(){return!1})),this.settings.touchDrag&&(this.$stage.on("touchstart.owl.core",t.proxy(this.onDragStart,this)),this.$stage.on("touchcancel.owl.core",t.proxy(this.onDragEnd,this)))},n.prototype.onDragStart=function(e){var s=null;3!==e.which&&(t.support.transform?(s=this.$stage.css("transform").replace(/.*\(|\)| /g,"").split(","),s={x:s[16===s.length?12:4],y:s[16===s.length?13:5]}):(s=this.$stage.position(),s={x:this.settings.rtl?s.left+this.$stage.width()-this.width()+this.settings.margin:s.left,y:s.top}),this.is("animating")&&(t.support.transform?this.animate(s.x):this.$stage.stop(),this.invalidate("position")),this.$element.toggleClass(this.options.grabClass,"mousedown"===e.type),this.speed(0),this._drag.time=(new Date).getTime(),this._drag.target=t(e.target),this._drag.stage.start=s,this._drag.stage.current=s,this._drag.pointer=this.pointer(e),t(i).on("mouseup.owl.core touchend.owl.core",t.proxy(this.onDragEnd,this)),t(i).one("mousemove.owl.core touchmove.owl.core",t.proxy(function(e){var s=this.difference(this._drag.pointer,this.pointer(e));t(i).on("mousemove.owl.core touchmove.owl.core",t.proxy(this.onDragMove,this)),Math.abs(s.x)0^this.settings.rtl?"left":"right";t(i).off(".owl.core"),this.$element.removeClass(this.options.grabClass),(0!==s.x&&this.is("dragging")||!this.is("valid"))&&(this.speed(this.settings.dragEndSpeed||this.settings.smartSpeed),this.current(this.closest(n.x,0!==s.x?o:this._drag.direction)),this.invalidate("position"),this.update(),this._drag.direction=o,(Math.abs(s.x)>3||(new Date).getTime()-this._drag.time>300)&&this._drag.target.one("click.owl.core",function(){return!1})),this.is("dragging")&&(this.leave("dragging"),this.trigger("dragged"))},n.prototype.closest=function(e,i){var s=-1,n=30,o=this.width(),r=this.coordinates();return this.settings.freeDrag||t.each(r,t.proxy(function(t,a){return e>a-n&&a+n>e?s=t:this.op(e,"<",a)&&this.op(e,">",r[t+1]||a-o)&&(s="left"===i?t+1:t),-1===s},this)),this.settings.loop||(this.op(e,">",r[this.minimum()])?s=e=this.minimum():this.op(e,"<",r[this.maximum()])&&(s=e=this.maximum())),s},n.prototype.animate=function(e){var i=this.speed()>0;this.is("animating")&&this.onTransitionEnd(),i&&(this.enter("animating"),this.trigger("translate")),t.support.transform3d&&t.support.transition?this.$stage.css({transform:"translate3d("+e+"px,0px,0px)",transition:this.speed()/1e3+"s"}):i?this.$stage.animate({left:e+"px"},this.speed(),this.settings.fallbackEasing,t.proxy(this.onTransitionEnd,this)):this.$stage.css({left:e+"px"})},n.prototype.is=function(t){return this._states.current[t]&&this._states.current[t]>0},n.prototype.current=function(t){if(t===s)return this._current;if(0===this._items.length)return s;if(t=this.normalize(t),this._current!==t){var e=this.trigger("change",{property:{name:"position",value:t}});e.data!==s&&(t=this.normalize(e.data)),this._current=t,this.invalidate("position"),this.trigger("changed",{property:{name:"position",value:this._current}})}return this._current},n.prototype.invalidate=function(e){return"string"===t.type(e)&&(this._invalidated[e]=!0,this.is("valid")&&this.leave("valid")),t.map(this._invalidated,function(t,e){return e})},n.prototype.reset=function(t){t=this.normalize(t),t!==s&&(this._speed=0,this._current=t,this.suppress(["translate","translated"]),this.animate(this.coordinates(t)),this.release(["translate","translated"]))},n.prototype.normalize=function(e,i){var n=this._items.length,o=i?0:this._clones.length;return!t.isNumeric(e)||1>n?e=s:(0>e||e>=n+o)&&(e=((e-o/2)%n+n)%n+o/2),e},n.prototype.relative=function(t){return t-=this._clones.length/2,this.normalize(t,!0)},n.prototype.maximum=function(t){var e,i=this.settings,s=this._coordinates.length,n=Math.abs(this._coordinates[s-1])-this._width,o=-1;if(i.loop)s=this._clones.length/2+this._items.length-1;else if(i.autoWidth||i.merge)for(;s-o>1;)Math.abs(this._coordinates[e=s+o>>1])0)-(0>n),r=this._items.length,a=this.minimum(),h=this.maximum();this.settings.loop?(!this.settings.rewind&&Math.abs(n)>r/2&&(n+=-1*o*r),t=i+n,s=((t-a)%r+r)%r+a,s!==t&&h>=s-n&&s-n>0&&(i=s-n,t=s,this.reset(i))):this.settings.rewind?(h+=1,t=(t%h+h)%h):t=Math.max(a,Math.min(h,t)),this.speed(this.duration(i,t,e)),this.current(t),this.$element.is(":visible")&&this.update()},n.prototype.next=function(t){t=t||!1,this.to(this.relative(this.current())+1,t)},n.prototype.prev=function(t){t=t||!1,this.to(this.relative(this.current())-1,t)},n.prototype.onTransitionEnd=function(t){return t!==s&&(t.stopPropagation(),(t.target||t.srcElement||t.originalTarget)!==this.$stage.get(0))?!1:(this.leave("animating"),void this.trigger("translated"))},n.prototype.viewport=function(){var s;if(this.options.responsiveBaseElement!==e)s=t(this.options.responsiveBaseElement).width();else if(e.innerWidth)s=e.innerWidth;else{if(!i.documentElement||!i.documentElement.clientWidth)throw"Can not detect viewport width.";s=i.documentElement.clientWidth}return s},n.prototype.replace=function(e){this.$stage.empty(),this._items=[],e&&(e=e instanceof jQuery?e:t(e)),this.settings.nestedItemSelector&&(e=e.find("."+this.settings.nestedItemSelector)),e.filter(function(){return 1===this.nodeType}).each(t.proxy(function(t,e){e=this.prepare(e),this.$stage.append(e),this._items.push(e),this._mergers.push(1*e.find("[data-merge]").andSelf("[data-merge]").attr("data-merge")||1)},this)),this.reset(t.isNumeric(this.settings.startPosition)?this.settings.startPosition:0),this.invalidate("items")},n.prototype.add=function(e,i){var n=this.relative(this._current);i=i===s?this._items.length:this.normalize(i,!0),e=e instanceof jQuery?e:t(e),this.trigger("add",{content:e,position:i}),e=this.prepare(e),0===this._items.length||i===this._items.length?(0===this._items.length&&this.$stage.append(e),0!==this._items.length&&this._items[i-1].after(e),this._items.push(e),this._mergers.push(1*e.find("[data-merge]").andSelf("[data-merge]").attr("data-merge")||1)):(this._items[i].before(e),this._items.splice(i,0,e),this._mergers.splice(i,0,1*e.find("[data-merge]").andSelf("[data-merge]").attr("data-merge")||1)),this._items[n]&&this.reset(this._items[n].index()),this.invalidate("items"),this.trigger("added",{content:e,position:i})},n.prototype.remove=function(t){t=this.normalize(t,!0),t!==s&&(this.trigger("remove",{content:this._items[t],position:t}),this._items[t].remove(),this._items.splice(t,1),this._mergers.splice(t,1),this.invalidate("items"),this.trigger("removed",{content:null,position:t}))},n.prototype.preloadAutoWidthImages=function(e){e.each(t.proxy(function(e,i){this.enter("pre-loading"),i=t(i),t(new Image).one("load",t.proxy(function(t){i.attr("src",t.target.src),i.css("opacity",1),this.leave("pre-loading"),!this.is("pre-loading")&&!this.is("initializing")&&this.refresh()},this)).attr("src",i.attr("src")||i.attr("data-src")||i.attr("data-src-retina"))},this))},n.prototype.destroy=function(){this.$element.off(".owl.core"),this.$stage.off(".owl.core"),t(i).off(".owl.core"),this.settings.responsive!==!1&&(e.clearTimeout(this.resizeTimer),this.off(e,"resize",this._handlers.onThrottledResize));for(var s in this._plugins)this._plugins[s].destroy();this.$stage.children(".cloned").remove(),this.$stage.unwrap(),this.$stage.children().contents().unwrap(),this.$stage.children().unwrap(),this.$element.removeClass(this.options.refreshClass).removeClass(this.options.loadingClass).removeClass(this.options.loadedClass).removeClass(this.options.rtlClass).removeClass(this.options.dragClass).removeClass(this.options.grabClass).attr("class",this.$element.attr("class").replace(new RegExp(this.options.responsiveClass+"-\\S+\\s","g"),"")).removeData("owl.vccarousel")},n.prototype.op=function(t,e,i){var s=this.settings.rtl;switch(e){case"<":return s?t>i:i>t;case">":return s?i>t:t>i;case">=":return s?i>=t:t>=i;case"<=":return s?t>=i:i>=t}},n.prototype.on=function(t,e,i,s){t.addEventListener?t.addEventListener(e,i,s):t.attachEvent&&t.attachEvent("on"+e,i)},n.prototype.off=function(t,e,i,s){t.removeEventListener?t.removeEventListener(e,i,s):t.detachEvent&&t.detachEvent("on"+e,i)},n.prototype.trigger=function(e,i,s,o,r){var a={item:{count:this._items.length,index:this.current()}},h=t.camelCase(t.grep(["on",e,s],function(t){return t}).join("-").toLowerCase()),l=t.Event([e,"owl",s||"vccarousel"].join(".").toLowerCase(),t.extend({relatedTarget:this},a,i));return this._supress[e]||(t.each(this._plugins,function(t,e){e.onTrigger&&e.onTrigger(l)}),this.register({type:n.Type.Event,name:e}),this.$element.trigger(l),this.settings&&"function"==typeof this.settings[h]&&this.settings[h].call(this,l)),l},n.prototype.enter=function(e){t.each([e].concat(this._states.tags[e]||[]),t.proxy(function(t,e){this._states.current[e]===s&&(this._states.current[e]=0),this._states.current[e]++},this))},n.prototype.leave=function(e){t.each([e].concat(this._states.tags[e]||[]),t.proxy(function(t,e){this._states.current[e]--},this))},n.prototype.register=function(e){if(e.type===n.Type.Event){if(t.event.special[e.name]||(t.event.special[e.name]={}),!t.event.special[e.name].owl){var i=t.event.special[e.name]._default;t.event.special[e.name]._default=function(t){return!i||!i.apply||t.namespace&&-1!==t.namespace.indexOf("owl")?t.namespace&&t.namespace.indexOf("owl")>-1:i.apply(this,arguments)},t.event.special[e.name].owl=!0}}else e.type===n.Type.State&&(this._states.tags[e.name]?this._states.tags[e.name]=this._states.tags[e.name].concat(e.tags):this._states.tags[e.name]=e.tags,this._states.tags[e.name]=t.grep(this._states.tags[e.name],t.proxy(function(i,s){return t.inArray(i,this._states.tags[e.name])===s},this)))},n.prototype.suppress=function(e){t.each(e,t.proxy(function(t,e){this._supress[e]=!0},this))},n.prototype.release=function(e){t.each(e,t.proxy(function(t,e){delete this._supress[e]},this))},n.prototype.pointer=function(t){var i={x:null,y:null};return t=t.originalEvent||t||e.event,t=t.touches&&t.touches.length?t.touches[0]:t.changedTouches&&t.changedTouches.length?t.changedTouches[0]:t,t.pageX?(i.x=t.pageX,i.y=t.pageY):(i.x=t.clientX,i.y=t.clientY),i},n.prototype.difference=function(t,e){return{x:t.x-e.x,y:t.y-e.y}},t.fn.vcOwlCarousel=function(e){var i=Array.prototype.slice.call(arguments,1);return this.each(function(){var s=t(this),o=s.data("owl.vccarousel");o||(o=new n(this,"object"==typeof e&&e),s.data("owl.vccarousel",o),t.each(["next","prev","to","destroy","refresh","replace","add","remove"],function(e,i){o.register({type:n.Type.Event,name:i}),o.$element.on(i+".owl.vccarousel.core",t.proxy(function(t){t.namespace&&t.relatedTarget!==this&&(this.suppress([i]),o[i].apply(this,[].slice.call(arguments,1)),this.release([i]))},o))})),"string"==typeof e&&"_"!==e.charAt(0)&&o[e].apply(o,i)})},t.fn.vcOwlCarousel.Constructor=n}(window.Zepto||window.jQuery,window,document),function(t,e,i,s){var n=function(e){this._core=e,this._interval=null,this._visible=null,this._handlers={"initialized.owl.vccarousel":t.proxy(function(t){t.namespace&&this._core.settings.autoRefresh&&this.watch()},this)},this._core.options=t.extend({},n.Defaults,this._core.options),this._core.$element.on(this._handlers)};n.Defaults={autoRefresh:!0,autoRefreshInterval:500},n.prototype.watch=function(){this._interval||(this._visible=this._core.$element.is(":visible"),this._interval=e.setInterval(t.proxy(this.refresh,this),this._core.settings.autoRefreshInterval))},n.prototype.refresh=function(){this._core.$element.is(":visible")!==this._visible&&(this._visible=!this._visible,this._core.$element.toggleClass("owl-hidden",!this._visible),this._visible&&this._core.invalidate("width")&&this._core.refresh())},n.prototype.destroy=function(){var t,i;e.clearInterval(this._interval);for(t in this._handlers)this._core.$element.off(t,this._handlers[t]);for(i in Object.getOwnPropertyNames(this))"function"!=typeof this[i]&&(this[i]=null)},t.fn.vcOwlCarousel.Constructor.Plugins.AutoRefresh=n}(window.Zepto||window.jQuery,window,document),function(t,e,i,s){var n=function(e){this._core=e,this._loaded=[],this._handlers={"initialized.owl.vccarousel change.owl.vccarousel":t.proxy(function(e){if(e.namespace&&this._core.settings&&this._core.settings.lazyLoad&&(e.property&&"position"==e.property.name||"initialized"==e.type))for(var i=this._core.settings,s=i.center&&Math.ceil(i.items/2)||i.items,n=i.center&&-1*s||0,o=(e.property&&e.property.value||this._core.current())+n,r=this._core.clones().length,a=t.proxy(function(t,e){this.load(e)},this);n++-1||(n.each(t.proxy(function(i,s){var n,o=t(s),r=e.devicePixelRatio>1&&o.attr("data-src-retina")||o.attr("data-src");this._core.trigger("load",{element:o,url:r},"lazy"),o.is("img")?o.one("load.owl.lazy",t.proxy(function(){o.css("opacity",1),this._core.trigger("loaded",{element:o,url:r},"lazy")},this)).attr("src",r):(n=new Image,n.onload=t.proxy(function(){o.css({"background-image":"url("+r+")",opacity:"1"}),this._core.trigger("loaded",{element:o,url:r},"lazy")},this),n.src=r)},this)),this._loaded.push(s.get(0)))},n.prototype.destroy=function(){var t,e;for(t in this.handlers)this._core.$element.off(t,this.handlers[t]);for(e in Object.getOwnPropertyNames(this))"function"!=typeof this[e]&&(this[e]=null)},t.fn.vcOwlCarousel.Constructor.Plugins.Lazy=n}(window.Zepto||window.jQuery,window,document),function(t,e,i,s){var n=function(e){this._core=e,this._handlers={"initialized.owl.vccarousel refreshed.owl.vccarousel":t.proxy(function(t){t.namespace&&this._core.settings.autoHeight&&this.update()},this),"changed.owl.vccarousel":t.proxy(function(t){t.namespace&&this._core.settings.autoHeight&&"position"==t.property.name&&this.update()},this),"loaded.owl.lazy":t.proxy(function(t){t.namespace&&this._core.settings.autoHeight&&t.element.closest("."+this._core.settings.itemClass).index()===this._core.current()&&this.update()},this)},this._core.options=t.extend({},n.Defaults,this._core.options),this._core.$element.on(this._handlers)};n.Defaults={autoHeight:!1,autoHeightClass:"owl-height"},n.prototype.update=function(){this._core.$stage.parent().height(this._core.$stage.children().eq(this._core.current()).height()).addClass(this._core.settings.autoHeightClass)},n.prototype.destroy=function(){var t,e;for(t in this._handlers)this._core.$element.off(t,this._handlers[t]);for(e in Object.getOwnPropertyNames(this))"function"!=typeof this[e]&&(this[e]=null)},t.fn.vcOwlCarousel.Constructor.Plugins.AutoHeight=n}(window.Zepto||window.jQuery,window,document),function(t,e,i,s){var n=function(e){this._core=e,this._videos={},this._playing=null,this._handlers={"initialized.owl.vccarousel":t.proxy(function(t){t.namespace&&this._core.register({type:"state",name:"playing",tags:["interacting"]})},this),"resize.owl.vccarousel":t.proxy(function(t){t.namespace&&this._core.settings.video&&this.isInFullScreen()&&t.preventDefault()},this),"refreshed.owl.vccarousel":t.proxy(function(t){t.namespace&&this._core.is("resizing")&&this._core.$stage.find(".cloned .owl-video-frame").remove()},this),"changed.owl.vccarousel":t.proxy(function(t){t.namespace&&"position"===t.property.name&&this._playing&&this.stop()},this),"prepared.owl.vccarousel":t.proxy(function(e){if(e.namespace){var i=t(e.content).find(".owl-video");i.length&&(i.css("display","none"),this.fetch(i,t(e.content)))}},this)},this._core.options=t.extend({},n.Defaults,this._core.options),this._core.$element.on(this._handlers),this._core.$element.on("click.owl.video",".owl-video-play-icon",t.proxy(function(t){this.play(t)},this))};n.Defaults={video:!1,videoHeight:!1,videoWidth:!1},n.prototype.fetch=function(t,e){var i=t.attr("data-vimeo-id")?"vimeo":"youtube",s=t.attr("data-vimeo-id")||t.attr("data-youtube-id"),n=t.attr("data-width")||this._core.settings.videoWidth,o=t.attr("data-height")||this._core.settings.videoHeight,r=t.attr("href");if(!r)throw new Error("Missing video URL.");if(s=r.match(/(http:|https:|)\/\/(player.|www.)?(vimeo\.com|youtu(be\.com|\.be|be\.googleapis\.com))\/(video\/|embed\/|watch\?v=|v\/)?([A-Za-z0-9._%-]*)(\&\S+)?/),s[3].indexOf("youtu")>-1)i="youtube";else{if(!(s[3].indexOf("vimeo")>-1))throw new Error("Video URL not 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t,e,i,s=this._core.clones().length/2,n=s+this._core.items().length,o=this._core.maximum(!0),r=this._core.settings,a=r.center||r.autoWidth||r.dotsData?1:r.dotsEach||r.items;if("page"!==r.slideBy&&(r.slideBy=Math.min(r.slideBy,r.items)),r.dots||"page"==r.slideBy)for(this._pages=[],t=s,e=0,i=0;n>t;t++){if(e>=a||0===e){if(this._pages.push({start:Math.min(o,t-s),end:t-s+a-1}),Math.min(o,t-s)===o)break;e=0,++i}e+=this._core.mergers(this._core.relative(t))}},n.prototype.draw=function(){var e,i=this._core.settings,s=this._core.items().length<=i.items,n=this._core.relative(this._core.current()),o=i.loop||i.rewind;this._controls.$relative.toggleClass("disabled",!i.nav||s),i.nav&&(this._controls.$previous.toggleClass("disabled",!o&&n<=this._core.minimum(!0)),this._controls.$next.toggleClass("disabled",!o&&n>=this._core.maximum(!0))),this._controls.$absolute.toggleClass("disabled",!i.dots||s),i.dots&&(e=this._pages.length-this._controls.$absolute.children().length,i.dotsData&&0!==e?this._controls.$absolute.html(this._templates.join("")):e>0?this._controls.$absolute.append(new Array(e+1).join(this._templates[0])):0>e&&this._controls.$absolute.children().slice(e).remove(),this._controls.$absolute.find(".active").removeClass("active"),this._controls.$absolute.children().eq(t.inArray(this.current(),this._pages)).addClass("active"))},n.prototype.onTrigger=function(e){var i=this._core.settings;e.page={index:t.inArray(this.current(),this._pages),count:this._pages.length,size:i&&(i.center||i.autoWidth||i.dotsData?1:i.dotsEach||i.items)}},n.prototype.current=function(){var e=this._core.relative(this._core.current());return t.grep(this._pages,t.proxy(function(t,i){return t.start<=e&&t.end>=e},this)).pop()},n.prototype.getPosition=function(e){var i,s,n=this._core.settings;return"page"==n.slideBy?(i=t.inArray(this.current(),this._pages),s=this._pages.length,e?++i:--i,i=this._pages[(i%s+s)%s].start):(i=this._core.relative(this._core.current()),s=this._core.items().length,e?i+=n.slideBy:i-=n.slideBy),i},n.prototype.next=function(e){t.proxy(this._overrides.to,this._core)(this.getPosition(!0),e)},n.prototype.prev=function(e){t.proxy(this._overrides.to,this._core)(this.getPosition(!1),e)},n.prototype.to=function(e,i,s){var n;s?t.proxy(this._overrides.to,this._core)(e,i):(n=this._pages.length,t.proxy(this._overrides.to,this._core)(this._pages[(e%n+n)%n].start,i))},t.fn.vcOwlCarousel.Constructor.Plugins.Navigation=n}(window.Zepto||window.jQuery,window,document),function(t,e,i,s){"use strict";var n=function(i){this._core=i,this._hashes={},this.$element=this._core.$element,this._handlers={"initialized.owl.vccarousel":t.proxy(function(i){i.namespace&&"URLHash"===this._core.settings.startPosition&&t(e).trigger("hashchange.owl.navigation")},this),"prepared.owl.vccarousel":t.proxy(function(e){if(e.namespace){var i=t(e.content).find("[data-hash]").andSelf("[data-hash]").attr("data-hash");if(!i)return;this._hashes[i]=e.content}},this),"changed.owl.vccarousel":t.proxy(function(i){if(i.namespace&&"position"===i.property.name){var s=this._core.items(this._core.relative(this._core.current())),n=t.map(this._hashes,function(t,e){return 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!function(t,e,i,s){function n(e,i){this.settings=null,this.options=t.extend({},n.Defaults,i),this.$element=t(e),this._handlers={},this._plugins={},this._supress={},this._current=null,this._speed=null,this._coordinates=[],this._breakpoint=null,this._width=null,this._items=[],this._clones=[],this._mergers=[],this._widths=[],this._invalidated={},this._pipe=[],this._drag={time:null,target:null,pointer:null,stage:{start:null,current:null},direction:null},this._states={current:{},tags:{initializing:["busy"],animating:["busy"],dragging:["interacting"]}},t.each(["onResize","onThrottledResize"],t.proxy(function(e,i){this._handlers[i]=t.proxy(this[i],this)},this)),t.each(n.Plugins,t.proxy(function(t,e){this._plugins[t[0].toLowerCase()+t.slice(1)]=new 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e=this.settings.margin||"",i=!this.settings.autoWidth,s=this.settings.rtl,n={width:"auto","margin-left":s?e:"","margin-right":s?"":e};!i&&this.$stage.children().css(n),t.css=n}},{filter:["width","items","settings"],run:function(t){var e=(this.width()/this.settings.items).toFixed(3)-this.settings.margin,i=null,s=this._items.length,n=!this.settings.autoWidth,o=[];for(t.items={merge:!1,width:e};s--;)i=this._mergers[s],i=this.settings.mergeFit&&Math.min(i,this.settings.items)||i,t.items.merge=i>1||t.items.merge,o[s]=n?e*i:this._items[s].width();this._widths=o}},{filter:["items","settings"],run:function(){var e=[],i=this._items,s=this.settings,n=Math.max(2*s.items,4),o=2*Math.ceil(i.length/2),r=s.loop&&i.length?s.rewind?n:Math.max(n,o):0,a="",h="";for(r/=2;r--;)e.push(this.normalize(e.length/2,!0)),a+=i[e[e.length-1]][0].outerHTML,e.push(this.normalize(i.length-1-(e.length-1)/2,!0)),h=i[e[e.length-1]][0].outerHTML+h;this._clones=e,t(a).addClass("cloned").appendTo(this.$stage),t(h).addClass("cloned").prependTo(this.$stage)}},{filter:["width","items","settings"],run:function(){for(var t=this.settings.rtl?1:-1,e=this._clones.length+this._items.length,i=-1,s=0,n=0,o=[];++ii;i++)t=this._coordinates[i-1]||0,e=Math.abs(this._coordinates[i])+o*n,(this.op(t,"<=",r)&&this.op(t,">",a)||this.op(e,"<",r)&&this.op(e,">",a))&&h.push(i);this.$stage.children(".active").removeClass("active"),this.$stage.children(":eq("+h.join("), 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RegExp("("+this.options.responsiveClass+"-)\\S+\\s","g"),"$1"+s))):n=t.extend({},this.options),(null===this.settings||this._breakpoint!==s)&&(this.trigger("change",{property:{name:"settings",value:n}}),this._breakpoint=s,this.settings=n,this.invalidate("settings"),this.trigger("changed",{property:{name:"settings",value:this.settings}}))},n.prototype.optionsLogic=function(){this.settings.autoWidth&&(this.settings.stagePadding=!1,this.settings.merge=!1)},n.prototype.prepare=function(e){var i=this.trigger("prepare",{content:e});return i.data||(i.data=t("<"+this.settings.itemElement+"/>").addClass(this.options.itemClass).append(e)),this.trigger("prepared",{content:i.data}),i.data},n.prototype.update=function(){for(var e=0,i=this._pipe.length,s=t.proxy(function(t){return this[t]},this._invalidated),n={};i>e;)(this._invalidated.all||t.grep(this._pipe[e].filter,s).length>0)&&this._pipe[e].run(n),e++;this._invalidated={},!this.is("valid")&&this.enter("valid")},n.prototype.width=function(t){switch(t=t||n.Width.Default){case n.Width.Inner:case n.Width.Outer:return this._width;default:return this._width-2*this.settings.stagePadding+this.settings.margin}},n.prototype.refresh=function(){this.enter("refreshing"),this.trigger("refresh"),this.setup(),this.optionsLogic(),this.$element.addClass(this.options.refreshClass),this.update(),this.$element.removeClass(this.options.refreshClass),this.leave("refreshing"),this.trigger("refreshed")},n.prototype.onThrottledResize=function(){e.clearTimeout(this.resizeTimer),this.resizeTimer=e.setTimeout(this._handlers.onResize,this.settings.responsiveRefreshRate)},n.prototype.onResize=function(){return this._items.length?this._width===this.$element.width()?!1:this.$element.is(":visible")?(this.enter("resizing"),this.trigger("resize").isDefaultPrevented()?(this.leave("resizing"),!1):(this.invalidate("width"),this.refresh(),this.leave("resizing"),void this.trigger("resized"))):!1:!1},n.prototype.registerEventHandlers=function(){t.support.transition&&this.$stage.on(t.support.transition.end+".owl.core",t.proxy(this.onTransitionEnd,this)),this.settings.responsive!==!1&&this.on(e,"resize",this._handlers.onThrottledResize),this.settings.mouseDrag&&(this.$element.addClass(this.options.dragClass),this.$stage.on("mousedown.owl.core",t.proxy(this.onDragStart,this)),this.$stage.on("dragstart.owl.core selectstart.owl.core",function(){return!1})),this.settings.touchDrag&&(this.$stage.on("touchstart.owl.core",t.proxy(this.onDragStart,this)),this.$stage.on("touchcancel.owl.core",t.proxy(this.onDragEnd,this)))},n.prototype.onDragStart=function(e){var s=null;3!==e.which&&(t.support.transform?(s=this.$stage.css("transform").replace(/.*\(|\)| /g,"").split(","),s={x:s[16===s.length?12:4],y:s[16===s.length?13:5]}):(s=this.$stage.position(),s={x:this.settings.rtl?s.left+this.$stage.width()-this.width()+this.settings.margin:s.left,y:s.top}),this.is("animating")&&(t.support.transform?this.animate(s.x):this.$stage.stop(),this.invalidate("position")),this.$element.toggleClass(this.options.grabClass,"mousedown"===e.type),this.speed(0),this._drag.time=(new Date).getTime(),this._drag.target=t(e.target),this._drag.stage.start=s,this._drag.stage.current=s,this._drag.pointer=this.pointer(e),t(i).on("mouseup.owl.core touchend.owl.core",t.proxy(this.onDragEnd,this)),t(i).one("mousemove.owl.core touchmove.owl.core",t.proxy(function(e){var s=this.difference(this._drag.pointer,this.pointer(e));t(i).on("mousemove.owl.core touchmove.owl.core",t.proxy(this.onDragMove,this)),Math.abs(s.x)0^this.settings.rtl?"left":"right";t(i).off(".owl.core"),this.$element.removeClass(this.options.grabClass),(0!==s.x&&this.is("dragging")||!this.is("valid"))&&(this.speed(this.settings.dragEndSpeed||this.settings.smartSpeed),this.current(this.closest(n.x,0!==s.x?o:this._drag.direction)),this.invalidate("position"),this.update(),this._drag.direction=o,(Math.abs(s.x)>3||(new Date).getTime()-this._drag.time>300)&&this._drag.target.one("click.owl.core",function(){return!1})),this.is("dragging")&&(this.leave("dragging"),this.trigger("dragged"))},n.prototype.closest=function(e,i){var s=-1,n=30,o=this.width(),r=this.coordinates();return this.settings.freeDrag||t.each(r,t.proxy(function(t,a){return e>a-n&&a+n>e?s=t:this.op(e,"<",a)&&this.op(e,">",r[t+1]||a-o)&&(s="left"===i?t+1:t),-1===s},this)),this.settings.loop||(this.op(e,">",r[this.minimum()])?s=e=this.minimum():this.op(e,"<",r[this.maximum()])&&(s=e=this.maximum())),s},n.prototype.animate=function(e){var i=this.speed()>0;this.is("animating")&&this.onTransitionEnd(),i&&(this.enter("animating"),this.trigger("translate")),t.support.transform3d&&t.support.transition?this.$stage.css({transform:"translate3d("+e+"px,0px,0px)",transition:this.speed()/1e3+"s"}):i?this.$stage.animate({left:e+"px"},this.speed(),this.settings.fallbackEasing,t.proxy(this.onTransitionEnd,this)):this.$stage.css({left:e+"px"})},n.prototype.is=function(t){return this._states.current[t]&&this._states.current[t]>0},n.prototype.current=function(t){if(t===s)return this._current;if(0===this._items.length)return s;if(t=this.normalize(t),this._current!==t){var e=this.trigger("change",{property:{name:"position",value:t}});e.data!==s&&(t=this.normalize(e.data)),this._current=t,this.invalidate("position"),this.trigger("changed",{property:{name:"position",value:this._current}})}return this._current},n.prototype.invalidate=function(e){return"string"===t.type(e)&&(this._invalidated[e]=!0,this.is("valid")&&this.leave("valid")),t.map(this._invalidated,function(t,e){return e})},n.prototype.reset=function(t){t=this.normalize(t),t!==s&&(this._speed=0,this._current=t,this.suppress(["translate","translated"]),this.animate(this.coordinates(t)),this.release(["translate","translated"]))},n.prototype.normalize=function(e,i){var n=this._items.length,o=i?0:this._clones.length;return!t.isNumeric(e)||1>n?e=s:(0>e||e>=n+o)&&(e=((e-o/2)%n+n)%n+o/2),e},n.prototype.relative=function(t){return t-=this._clones.length/2,this.normalize(t,!0)},n.prototype.maximum=function(t){var e,i=this.settings,s=this._coordinates.length,n=Math.abs(this._coordinates[s-1])-this._width,o=-1;if(i.loop)s=this._clones.length/2+this._items.length-1;else if(i.autoWidth||i.merge)for(;s-o>1;)Math.abs(this._coordinates[e=s+o>>1])0)-(0>n),r=this._items.length,a=this.minimum(),h=this.maximum();this.settings.loop?(!this.settings.rewind&&Math.abs(n)>r/2&&(n+=-1*o*r),t=i+n,s=((t-a)%r+r)%r+a,s!==t&&h>=s-n&&s-n>0&&(i=s-n,t=s,this.reset(i))):this.settings.rewind?(h+=1,t=(t%h+h)%h):t=Math.max(a,Math.min(h,t)),this.speed(this.duration(i,t,e)),this.current(t),this.$element.is(":visible")&&this.update()},n.prototype.next=function(t){t=t||!1,this.to(this.relative(this.current())+1,t)},n.prototype.prev=function(t){t=t||!1,this.to(this.relative(this.current())-1,t)},n.prototype.onTransitionEnd=function(t){return t!==s&&(t.stopPropagation(),(t.target||t.srcElement||t.originalTarget)!==this.$stage.get(0))?!1:(this.leave("animating"),void this.trigger("translated"))},n.prototype.viewport=function(){var s;if(this.options.responsiveBaseElement!==e)s=t(this.options.responsiveBaseElement).width();else if(e.innerWidth)s=e.innerWidth;else{if(!i.documentElement||!i.documentElement.clientWidth)throw"Can not detect viewport width.";s=i.documentElement.clientWidth}return s},n.prototype.replace=function(e){this.$stage.empty(),this._items=[],e&&(e=e instanceof jQuery?e:t(e)),this.settings.nestedItemSelector&&(e=e.find("."+this.settings.nestedItemSelector)),e.filter(function(){return 1===this.nodeType}).each(t.proxy(function(t,e){e=this.prepare(e),this.$stage.append(e),this._items.push(e),this._mergers.push(1*e.find("[data-merge]").andSelf("[data-merge]").attr("data-merge")||1)},this)),this.reset(t.isNumeric(this.settings.startPosition)?this.settings.startPosition:0),this.invalidate("items")},n.prototype.add=function(e,i){var n=this.relative(this._current);i=i===s?this._items.length:this.normalize(i,!0),e=e instanceof jQuery?e:t(e),this.trigger("add",{content:e,position:i}),e=this.prepare(e),0===this._items.length||i===this._items.length?(0===this._items.length&&this.$stage.append(e),0!==this._items.length&&this._items[i-1].after(e),this._items.push(e),this._mergers.push(1*e.find("[data-merge]").andSelf("[data-merge]").attr("data-merge")||1)):(this._items[i].before(e),this._items.splice(i,0,e),this._mergers.splice(i,0,1*e.find("[data-merge]").andSelf("[data-merge]").attr("data-merge")||1)),this._items[n]&&this.reset(this._items[n].index()),this.invalidate("items"),this.trigger("added",{content:e,position:i})},n.prototype.remove=function(t){t=this.normalize(t,!0),t!==s&&(this.trigger("remove",{content:this._items[t],position:t}),this._items[t].remove(),this._items.splice(t,1),this._mergers.splice(t,1),this.invalidate("items"),this.trigger("removed",{content:null,position:t}))},n.prototype.preloadAutoWidthImages=function(e){e.each(t.proxy(function(e,i){this.enter("pre-loading"),i=t(i),t(new Image).one("load",t.proxy(function(t){i.attr("src",t.target.src),i.css("opacity",1),this.leave("pre-loading"),!this.is("pre-loading")&&!this.is("initializing")&&this.refresh()},this)).attr("src",i.attr("src")||i.attr("data-src")||i.attr("data-src-retina"))},this))},n.prototype.destroy=function(){this.$element.off(".owl.core"),this.$stage.off(".owl.core"),t(i).off(".owl.core"),this.settings.responsive!==!1&&(e.clearTimeout(this.resizeTimer),this.off(e,"resize",this._handlers.onThrottledResize));for(var s in this._plugins)this._plugins[s].destroy();this.$stage.children(".cloned").remove(),this.$stage.unwrap(),this.$stage.children().contents().unwrap(),this.$stage.children().unwrap(),this.$element.removeClass(this.options.refreshClass).removeClass(this.options.loadingClass).removeClass(this.options.loadedClass).removeClass(this.options.rtlClass).removeClass(this.options.dragClass).removeClass(this.options.grabClass).attr("class",this.$element.attr("class").replace(new RegExp(this.options.responsiveClass+"-\\S+\\s","g"),"")).removeData("owl.vccarousel")},n.prototype.op=function(t,e,i){var s=this.settings.rtl;switch(e){case"<":return s?t>i:i>t;case">":return s?i>t:t>i;case">=":return s?i>=t:t>=i;case"<=":return s?t>=i:i>=t}},n.prototype.on=function(t,e,i,s){t.addEventListener?t.addEventListener(e,i,s):t.attachEvent&&t.attachEvent("on"+e,i)},n.prototype.off=function(t,e,i,s){t.removeEventListener?t.removeEventListener(e,i,s):t.detachEvent&&t.detachEvent("on"+e,i)},n.prototype.trigger=function(e,i,s,o,r){var a={item:{count:this._items.length,index:this.current()}},h=t.camelCase(t.grep(["on",e,s],function(t){return t}).join("-").toLowerCase()),l=t.Event([e,"owl",s||"vccarousel"].join(".").toLowerCase(),t.extend({relatedTarget:this},a,i));return this._supress[e]||(t.each(this._plugins,function(t,e){e.onTrigger&&e.onTrigger(l)}),this.register({type:n.Type.Event,name:e}),this.$element.trigger(l),this.settings&&"function"==typeof this.settings[h]&&this.settings[h].call(this,l)),l},n.prototype.enter=function(e){t.each([e].concat(this._states.tags[e]||[]),t.proxy(function(t,e){this._states.current[e]===s&&(this._states.current[e]=0),this._states.current[e]++},this))},n.prototype.leave=function(e){t.each([e].concat(this._states.tags[e]||[]),t.proxy(function(t,e){this._states.current[e]--},this))},n.prototype.register=function(e){if(e.type===n.Type.Event){if(t.event.special[e.name]||(t.event.special[e.name]={}),!t.event.special[e.name].owl){var i=t.event.special[e.name]._default;t.event.special[e.name]._default=function(t){return!i||!i.apply||t.namespace&&-1!==t.namespace.indexOf("owl")?t.namespace&&t.namespace.indexOf("owl")>-1:i.apply(this,arguments)},t.event.special[e.name].owl=!0}}else e.type===n.Type.State&&(this._states.tags[e.name]?this._states.tags[e.name]=this._states.tags[e.name].concat(e.tags):this._states.tags[e.name]=e.tags,this._states.tags[e.name]=t.grep(this._states.tags[e.name],t.proxy(function(i,s){return t.inArray(i,this._states.tags[e.name])===s},this)))},n.prototype.suppress=function(e){t.each(e,t.proxy(function(t,e){this._supress[e]=!0},this))},n.prototype.release=function(e){t.each(e,t.proxy(function(t,e){delete this._supress[e]},this))},n.prototype.pointer=function(t){var i={x:null,y:null};return t=t.originalEvent||t||e.event,t=t.touches&&t.touches.length?t.touches[0]:t.changedTouches&&t.changedTouches.length?t.changedTouches[0]:t,t.pageX?(i.x=t.pageX,i.y=t.pageY):(i.x=t.clientX,i.y=t.clientY),i},n.prototype.difference=function(t,e){return{x:t.x-e.x,y:t.y-e.y}},t.fn.vcOwlCarousel=function(e){var i=Array.prototype.slice.call(arguments,1);return this.each(function(){var s=t(this),o=s.data("owl.vccarousel");o||(o=new n(this,"object"==typeof e&&e),s.data("owl.vccarousel",o),t.each(["next","prev","to","destroy","refresh","replace","add","remove"],function(e,i){o.register({type:n.Type.Event,name:i}),o.$element.on(i+".owl.vccarousel.core",t.proxy(function(t){t.namespace&&t.relatedTarget!==this&&(this.suppress([i]),o[i].apply(this,[].slice.call(arguments,1)),this.release([i]))},o))})),"string"==typeof e&&"_"!==e.charAt(0)&&o[e].apply(o,i)})},t.fn.vcOwlCarousel.Constructor=n}(window.Zepto||window.jQuery,window,document),function(t,e,i,s){var n=function(e){this._core=e,this._interval=null,this._visible=null,this._handlers={"initialized.owl.vccarousel":t.proxy(function(t){t.namespace&&this._core.settings.autoRefresh&&this.watch()},this)},this._core.options=t.extend({},n.Defaults,this._core.options),this._core.$element.on(this._handlers)};n.Defaults={autoRefresh:!0,autoRefreshInterval:500},n.prototype.watch=function(){this._interval||(this._visible=this._core.$element.is(":visible"),this._interval=e.setInterval(t.proxy(this.refresh,this),this._core.settings.autoRefreshInterval))},n.prototype.refresh=function(){this._core.$element.is(":visible")!==this._visible&&(this._visible=!this._visible,this._core.$element.toggleClass("owl-hidden",!this._visible),this._visible&&this._core.invalidate("width")&&this._core.refresh())},n.prototype.destroy=function(){var t,i;e.clearInterval(this._interval);for(t in this._handlers)this._core.$element.off(t,this._handlers[t]);for(i in Object.getOwnPropertyNames(this))"function"!=typeof this[i]&&(this[i]=null)},t.fn.vcOwlCarousel.Constructor.Plugins.AutoRefresh=n}(window.Zepto||window.jQuery,window,document),function(t,e,i,s){var n=function(e){this._core=e,this._loaded=[],this._handlers={"initialized.owl.vccarousel change.owl.vccarousel":t.proxy(function(e){if(e.namespace&&this._core.settings&&this._core.settings.lazyLoad&&(e.property&&"position"==e.property.name||"initialized"==e.type))for(var i=this._core.settings,s=i.center&&Math.ceil(i.items/2)||i.items,n=i.center&&-1*s||0,o=(e.property&&e.property.value||this._core.current())+n,r=this._core.clones().length,a=t.proxy(function(t,e){this.load(e)},this);n++-1||(n.each(t.proxy(function(i,s){var n,o=t(s),r=e.devicePixelRatio>1&&o.attr("data-src-retina")||o.attr("data-src");this._core.trigger("load",{element:o,url:r},"lazy"),o.is("img")?o.one("load.owl.lazy",t.proxy(function(){o.css("opacity",1),this._core.trigger("loaded",{element:o,url:r},"lazy")},this)).attr("src",r):(n=new Image,n.onload=t.proxy(function(){o.css({"background-image":"url("+r+")",opacity:"1"}),this._core.trigger("loaded",{element:o,url:r},"lazy")},this),n.src=r)},this)),this._loaded.push(s.get(0)))},n.prototype.destroy=function(){var t,e;for(t in this.handlers)this._core.$element.off(t,this.handlers[t]);for(e in Object.getOwnPropertyNames(this))"function"!=typeof this[e]&&(this[e]=null)},t.fn.vcOwlCarousel.Constructor.Plugins.Lazy=n}(window.Zepto||window.jQuery,window,document),function(t,e,i,s){var n=function(e){this._core=e,this._handlers={"initialized.owl.vccarousel refreshed.owl.vccarousel":t.proxy(function(t){t.namespace&&this._core.settings.autoHeight&&this.update()},this),"changed.owl.vccarousel":t.proxy(function(t){t.namespace&&this._core.settings.autoHeight&&"position"==t.property.name&&this.update()},this),"loaded.owl.lazy":t.proxy(function(t){t.namespace&&this._core.settings.autoHeight&&t.element.closest("."+this._core.settings.itemClass).index()===this._core.current()&&this.update()},this)},this._core.options=t.extend({},n.Defaults,this._core.options),this._core.$element.on(this._handlers)};n.Defaults={autoHeight:!1,autoHeightClass:"owl-height"},n.prototype.update=function(){this._core.$stage.parent().height(this._core.$stage.children().eq(this._core.current()).height()).addClass(this._core.settings.autoHeightClass)},n.prototype.destroy=function(){var t,e;for(t in this._handlers)this._core.$element.off(t,this._handlers[t]);for(e in Object.getOwnPropertyNames(this))"function"!=typeof this[e]&&(this[e]=null)},t.fn.vcOwlCarousel.Constructor.Plugins.AutoHeight=n}(window.Zepto||window.jQuery,window,document),function(t,e,i,s){var n=function(e){this._core=e,this._videos={},this._playing=null,this._handlers={"initialized.owl.vccarousel":t.proxy(function(t){t.namespace&&this._core.register({type:"state",name:"playing",tags:["interacting"]})},this),"resize.owl.vccarousel":t.proxy(function(t){t.namespace&&this._core.settings.video&&this.isInFullScreen()&&t.preventDefault()},this),"refreshed.owl.vccarousel":t.proxy(function(t){t.namespace&&this._core.is("resizing")&&this._core.$stage.find(".cloned .owl-video-frame").remove()},this),"changed.owl.vccarousel":t.proxy(function(t){t.namespace&&"position"===t.property.name&&this._playing&&this.stop()},this),"prepared.owl.vccarousel":t.proxy(function(e){if(e.namespace){var i=t(e.content).find(".owl-video");i.length&&(i.css("display","none"),this.fetch(i,t(e.content)))}},this)},this._core.options=t.extend({},n.Defaults,this._core.options),this._core.$element.on(this._handlers),this._core.$element.on("click.owl.video",".owl-video-play-icon",t.proxy(function(t){this.play(t)},this))};n.Defaults={video:!1,videoHeight:!1,videoWidth:!1},n.prototype.fetch=function(t,e){var i=t.attr("data-vimeo-id")?"vimeo":"youtube",s=t.attr("data-vimeo-id")||t.attr("data-youtube-id"),n=t.attr("data-width")||this._core.settings.videoWidth,o=t.attr("data-height")||this._core.settings.videoHeight,r=t.attr("href");if(!r)throw new Error("Missing video URL.");if(s=r.match(/(http:|https:|)\/\/(player.|www.)?(vimeo\.com|youtu(be\.com|\.be|be\.googleapis\.com))\/(video\/|embed\/|watch\?v=|v\/)?([A-Za-z0-9._%-]*)(\&\S+)?/),s[3].indexOf("youtu")>-1)i="youtube";else{if(!(s[3].indexOf("vimeo")>-1))throw new Error("Video URL not supported.");i="vimeo"}s=s[6],this._videos[r]={type:i,id:s,width:n,height:o},e.attr("data-video",r),this.thumbnail(t,this._videos[r])},n.prototype.thumbnail=function(e,i){var s,n,o,r=i.width&&i.height?'style="width:'+i.width+"px;height:"+i.height+'px;"':"",a=e.find("img"),h="src",l="",c=this._core.settings,p=function(t){n='
',s=c.lazyLoad?'
':'
',e.after(s),e.after(n)};return e.wrap('
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Considerations_for_navigating_the_evolving_landscape_of_a_battery_bet_are_crucia - Metal Cut Production

Considerations_for_navigating_the_evolving_landscape_of_a_battery_bet_are_crucia

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Considerations for navigating the evolving landscape of a battery bet are crucial now

The concept of a “battery bet” has gained considerable traction in recent years, representing a strategic investment focused on companies poised to benefit from the burgeoning energy storage market. This encompasses not only electric vehicles but also grid-scale energy storage, portable power solutions, and advancements in battery technology itself. Navigating this landscape requires a nuanced understanding of technological advancements, market trends, and geopolitical factors. The potential for substantial returns is significant, but so too are the inherent risks associated with a rapidly evolving technological space.

The global shift towards sustainable energy is the primary driver behind this investment theme. Governments worldwide are implementing policies to encourage the adoption of renewable energy sources, and batteries are crucial for addressing the intermittency challenges of solar and wind power. The demand for energy storage is expected to increase exponentially in the coming decades, creating a fertile ground for innovation and growth. Understanding where the most promising opportunities lie within this expanding market is essential for anyone considering a battery bet.

The Technological Landscape of Battery Technology

The battery industry isn’t a monolith; it's a diverse ecosystem of technologies, each with its strengths and weaknesses. Lithium-ion batteries currently dominate the market, powering everything from smartphones to electric vehicles. However, research and development are constantly pushing the boundaries of battery chemistry. Solid-state batteries, for example, are often touted as the ‘holy grail’ of battery technology, promising higher energy density, improved safety, and faster charging times. Other contenders include sodium-ion batteries, which utilize more abundant and cheaper materials than lithium, and flow batteries, suitable for large-scale stationary storage applications. A key consideration for any potential investment is the maturity and scalability of the underlying technology. Is it still in the laboratory phase, or is it ready for mass production?

The Role of Materials Science

Advancements in battery technology are heavily reliant on materials science. The cost and availability of raw materials, such as lithium, cobalt, and nickel, play a crucial role in determining the overall economics of battery production. Companies that can secure access to these resources—through mining operations, strategic partnerships, or the development of alternative materials—are likely to have a competitive advantage. Furthermore, innovations in electrode materials, electrolytes, and separators are essential for improving battery performance and extending lifespan. The pursuit of sustainable and ethically sourced materials is also gaining momentum, driven by environmental concerns and consumer demand.

Battery Technology
Energy Density (Wh/kg)
Cost (USD/kWh)
Maturity Level
Lithium-ion 150-250 130-200 Commercial
Solid-State 300-500 (potential) 200-300 (projected) Development
Sodium-ion 90-150 80-120 Early Commercial
Flow Batteries 50-80 150-300 Commercial (niche applications)

Understanding these competing technologies and their respective trade-offs is crucial when evaluating a potential battery bet. The current dominance of lithium-ion doesn't guarantee its continued leadership; breakthroughs in other areas could disrupt the market.

The Automotive Industry: A Primary Driver for Battery Demand

The electric vehicle (EV) revolution is arguably the biggest catalyst for growth in the battery market. As governments worldwide set targets for phasing out internal combustion engine vehicles, the demand for EV batteries is expected to skyrocket. Automakers are investing heavily in battery production, either through in-house development or partnerships with battery manufacturers. The competition is fierce, and companies that can deliver high-performance, cost-effective batteries will be best positioned to succeed. Beyond passenger vehicles, the electrification of commercial fleets, including buses, trucks, and delivery vans, is also creating significant demand for batteries. This segment often requires different battery characteristics, such as longer lifespan and faster charging capabilities.

Beyond Passenger Vehicles: Emerging Applications

While electric cars are dominating the headlines, the applications for battery technology are far more diverse. Expanding beyond automotive, energy storage systems (ESS) used for grid stabilization are becoming increasingly important. These systems help to integrate intermittent renewable energy sources, such as solar and wind, into the grid, ensuring a reliable power supply. Additionally, portable power stations are gaining popularity for recreational activities, emergency preparedness, and off-grid living. Furthermore, advancements in battery technology are enabling the development of new and innovative products in areas such as medical devices, aerospace, and robotics. These emerging applications represent significant growth opportunities for battery manufacturers and related companies.

  • Electric Vehicles (EVs): Dominating current demand, with continuous growth expected.
  • Grid-Scale Energy Storage: Essential for integrating renewable energy sources.
  • Portable Power Stations: A rapidly growing market for recreational and emergency use.
  • Aerospace Applications: Batteries are powering electric aircraft and drones.
  • Medical Devices: Increasing reliance on portable and reliable battery power.

It is critical to recognize that the demand won’t just come from the growth in EV sales; improvements in grid infrastructure and the diversification of energy-storage applications are all factors that will contribute to a robust and multifaceted market.

The Geopolitical Landscape and Supply Chain Considerations

The battery supply chain is complex and geographically concentrated. China currently dominates the processing of key battery materials, such as lithium, cobalt, and graphite, and also accounts for a significant share of battery production. This concentration creates potential vulnerabilities and geopolitical risks. Western governments are actively seeking to diversify the supply chain, encouraging domestic production of battery materials and manufacturing capacity. The recent focus on “friend-shoring” and “near-shoring” aims to reduce dependence on single suppliers and enhance supply chain resilience. Furthermore, there’s a growing emphasis on developing closed-loop battery recycling systems to recover valuable materials and reduce environmental impact. This includes the environmentally sound handling of end-of-life batteries.

Recycling and Sustainable Practices

The environmental impact of battery production and disposal is a growing concern. Mining activities can have significant environmental consequences, and improper disposal of batteries can lead to pollution. Investing in battery recycling technologies is crucial for mitigating these risks and creating a more sustainable battery ecosystem. Recycling not only recovers valuable materials but also reduces the need for new mining operations. Companies that are developing innovative recycling processes and establishing closed-loop supply chains are likely to be viewed favorably by investors and consumers alike. Government regulations are also playing a role, with increasing mandates for battery recycling and responsible sourcing of materials.

  1. Secure Raw Material Supply: Diversify sourcing to reduce geopolitical risk.
  2. Invest in Recycling Technologies: Create closed-loop systems for material recovery.
  3. Promote Sustainable Mining Practices: Minimize environmental impact.
  4. Develop Battery Second-Life Applications: Repurpose batteries for less demanding tasks.
  5. Adhere to Regulatory Standards: Comply with evolving environmental regulations.

A comprehensive understanding of these geopolitical factors and sustainable practices is essential for making informed investment decisions within the battery space.

Financial Aspects of a Battery Bet: Valuation and Risk Management

Evaluating companies within the battery industry requires a specialized understanding of their financial performance, technological capabilities, and competitive positioning. Traditional valuation metrics may not be sufficient, as many companies are still in the growth phase and are not yet profitable. It’s important to consider factors such as revenue growth, market share, patent portfolios, and the potential for future innovation. Risk management is also critical, as the battery industry is subject to rapid technological change and evolving market dynamics. Diversification across multiple companies and technologies can help to mitigate risk. Thorough due diligence is essential, including a review of the company’s financial statements, its management team, and its competitive landscape.

Future Trends and Potential Disruptions

The battery industry is poised for continued innovation and disruption. Emerging trends, such as advancements in artificial intelligence (AI) and machine learning (ML), are being applied to battery design, manufacturing, and management. AI-powered algorithms can optimize battery performance, predict remaining useful life, and improve charging strategies. Furthermore, the development of new battery chemistries, such as lithium-sulfur and metal-air batteries, could offer significant improvements in energy density and cost. The integration of batteries with other energy technologies, such as hydrogen fuel cells, could also create new opportunities. Staying abreast of these emerging trends is crucial for identifying potential investment opportunities and avoiding disruptive threats.

The continued development of smart grid technologies and the increasing adoption of electric vehicles will further accelerate the demand for advanced battery solutions. Companies that can successfully navigate this complex and dynamic landscape are likely to reap significant rewards. It’s not merely about the 'battery bet', but the wider ecosystem that surrounds energy storage, from charging infrastructure to waste management, that will define the ultimate winners and losers.

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