WE PROPOSE TO CONDUCT THE FIRST BROADBAND X-RAY STUDY OF I ZWICKY 1 (I ZW 1) COMBINING SOFT AND HARD X-RAY OBSERVATIONS. THIS IS A UNIQUE AGN THAT WILL YIELD GREAT INSIGHT INTO THE PHYSICAL PROCESSES ASSOCIATED WITH ACCRETION AND THE EXTREME ENVIRONMENTS AROUND SUPERMASSIVE BLACK HOLES. MATERIAL FALLING INTO A SUPERMASSIVE BLACK HOLE IN THE CENTRE OF A GALAXY POWERS THIS EXTREME OBJECT WITH BRIGHT X-RAY EMISSION COMING FROM A CORONA OF ENERGETIC PARTICLES CLOSE TO THE BLACK HOLE. RAPID VARIABILITY IS SEEN IN THE X-RAY EMISSION AS THE CORONA EVOLVES AS WELL AS COMPLEX VARIABLE ABSORPTION FROM OUTFLOWING WINDS LAUNCHED FROM THE ACCRETION DISC OF INFALLING MATERIAL. I ZW 1 IS THE FIRST AGN IN WHICH THERE IS EVIDENCE FOR DISTINCT STRUCTURES WITHIN THE CORONA INCLUDING A CORE AKIN TO THE BASE OF A JET. SUPPORT IS REQUESTED FOR THE ANALYSIS OF 130KS OF APPROVED OBSERVATIONS USING XMM-NEWTON SIMULTANEOUS WITH 250KS OF OBSERVATION WITH NUSTAR. ANALYSIS OF BOTH THE SPECTRUM AND THE VARIABILITY OF THE X-RAY EMISSION WILL BE CONDUCTED. APPLYING A VARIETY OF MODEL-INDEPENDENT ANALYSIS TECHNIQUES WILL BE APPLIED TO THE X-RAY SPECTRA AND THE LIGHT CURVES SHOWING THE VARIABILITY IN THE X-RAY EMISSION AT DIFFERENT ENERGIES. DETAILED PHYSICAL MODELS WILL BE FIT TO THE OBSERVED X-RAY EMISSION. THIS WILL YIELD THE MOST DETAILED DYNAMIC PICTURE OF HOW THE CORONA IS STRUCTURED AND HOW IT EVOLVES. A DEEP UNDERSTANDING OF THE CORONA WILL TRANSFORM OUR UNDERSTANDING OF HOW ENERGY IS RELEASED FROM MATERIAL FALLING INTO BLACK HOLES HOW IT MAY BE INJECTED INTO THE SURROUNDINGS VIA WINDS AND JETS AND THE ROLE BLACK HOLES PLAYED IN THE FORMATION OF STRUCTURE IN THE UNIVERSE.