Xen Project may be twelve years old this year, but it is not slowing down. January's release of Xen Project 4.5 marks the greatest number of new features of any release of the software. Furthermore, a number of new developments in and around the project assure that real innovations will continue to surround Xen Project for years to come. In this session, we will discuss the features of the latest release, as well as the work already in the pipeline for the next release. Improvements reach into the areas of security, toolsets, high availability, integration, hardware support, and more. In all, there are 43 new features, with 22 additional enhancements to upstream projects. Plus, there are already a number of interesting technologies in progress for the next release. In the era of the cloud, hypervisors need to create the capabilities which will power the next generation cloud. That is precisely what Xen Project is doing.