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As Cloud computing emerges as a dominant paradigm in distributed systems, it is important to fully understand the underlying technologies that make Clouds possible. One technology, and perhaps the most important, is virtualization. Recently virtualization, through the use of hyper visors, has become widely used and well understood by many. However, there are a large spread of different hyper visors, each with their own advantages and disadvantages. This paper provides an in-depth analysis of some of today's commonly accepted virtualization technologies from feature comparison to performance analysis, focusing on the applicability to High Performance Computing environments using Future Grid resources. The results indicate virtualization sometimes introduces slight performance impacts depending on the hyper visor type, however the benefits of such technologies are profound and not all virtualization …