INVESTOR PRESENTATION INNOVENTUM AB July 2015 Sigvald Harryson, Founder & CEO Sigvald@InnoVentum.se +46 723 50 49 81
WE PAVE A NATURAL PATH TO THE WORLD’S MOST RENEWABLE ENERGY SOLUTIONS } Vision: By 2030 we are the globally leading brand for truly renewable energy solutions } Mission: To develop and commercialize the world’s most renewable energy solutions } Value Proposition: Smart and resource-efficient solutions with } Exclusive Design for those who afford } Affordable Design for those who Need BUSINESS SWEDEN 5 OCTOBER 2015 2
INNOVENTUM – THREE CORE PRODUCTS WITH FOUR APPLICATION AREAS } Product Name Height Production Energy Density Cost 1. Dali PowerTower: 12 meters 9.000 kWh/year 300kWh/m2 € 22.000 2. Giraffe 2.0 12 meters 15.000 kWh/year 625kWh/m2 € 55.000 3. Dalifant 20 meters 40.000 kWh/year 600kWh/m2 € 88.000 4. Rooftop Hybrid 10 m above roof. Production and cost depending on configuration 3. Dalifant 4. Hybrid Rooftop Solution 1. Dali PowerTower 2. Giraffe 2.0 Combining beautiful design with extreme Smart wooden Dali tower & wind A hybrid power solution both for exclusivity An exclusive wind & return on resources for eco-farms, turbine w. solar PV on wooden markets and developing economies where solar design with strong resorts and green companies – where frames & green roofs (Triple Green no installation equipment, such as a potential as EV charger. installation equipment is available Roof) for rooftop installations crane, is available Design supported by (off-grid is a more affordable “lite” version) Santiago Calatrava BUSINESS SWEDEN 5 OCTOBER 2015 3
SYNERGIES ACROSS ALL PRODUCTS – VITAL TO OUR SUCCESS – BECAUSE THEY BUILD … The Dali Tower special feature: Synergies Across All Products patent-protected 3-leg modular design that has only 1.2 m 3 } Hybrid solutions combining wind & solar packaging volume and allows for PV with beautiful design easy tower erection without a } Same PV panels, wood-supply, wind crane. Perfect for remote locations turbines (small-scale), electronics and and 100% conform with UNDP foundation solution specification. PV hybrid possible } Modular solutions for cost-efficiency, ease The Giraffe 2.0 special feature: of transport & installation – even without unusual intelligent design crane or any heavy equipment for the Dali leveraging the opportunity to produce more solar energy thanks } Same Sustainability: to smart angling of the PV panels. } Common solution for foundations – Extreme energy-density thanks to Patent-protected screws instead of angling and PV-wind hybrid concrete } Sustainable Renewable Materials – The Dalifant special feature: 8-leg Solid wood and glue laminated timber modular design of the tower for easy erection and silent } Common supply chain: operation. Delivers 5 times more High volumes in the affordability segment energy per kilo of materials than Enercon’s and Vestas’ best drive down COGS, which increases performing 3MW turbines profitability in the exclusivity segment BUSINESS SWEDEN 5 OCTOBER 2015 4
… MUTUALLY REINFORCING ECONOMIES OF SCALE DRIVING BOTH PROFITABILITY AND AFFORDABILITY 300 000 SEK 250 000 SEK INCREASING PROFITABILITY BY 30% 200 000 SEK 150 000 SEK 100 000 SEK 50 000 SEK COGS DECREASE BY 50% FOR AFFORDABILITY - SEK 10 units 100 units 200 units 400 units 600 units COGS in SEK at increasing annual Dali Performance COGS Dali Lite Giraffe 2.0 volumes COGS COGS BUSINESS SWEDEN 5 OCTOBER 2015 5
FOCUS ON MODULARITY OF CAD-CNC MANUFACTURED PARTS REDUCES INSTALLATION TIME AND COSTS – WHILE ENHANCING SCALABILITY } A dozen Manufacturing Partners confirmed with validated CNC } In the process of second round of R&D, the number of unique parts was reduced by factor SIX (6): capability and confirmed ability to produce our CAD designs: 2014 – Giraffe 2.0: 11 2013 – Giraffe: 66 Unique Parts Unique Parts See a Giraffe 2.0 installation in a 1-minute-video: http://www.innoventum.se/ giraffe-2-0/ BUSINESS SWEDEN 5 OCTOBER 2015 6
APPLICATION AREAS FROM EV CHARGING AT SHOPPING CENTERS TO POWER STATIONS FOR OFF-GRID MARKETS } One Narrow Product Family for Wide Application Areas: } EV charging at shopping centers, “green” petrol stations, hotels, spas etc. } Power stations as natural part of urban infrastructure } Distributed energy generation for battery-assisted grid installations as part of EV infrastructure } Power station can power lights, LED screens, bus stops, skating rinks etc. } Rooftop installations to make green buildings energy-independent } Power station for eco-farms, resorts, rural infrastructure } Promotes independence from the grid and utility companies, lowers CO 2 footprint, marketing tool for green business } Power station for remote off-grid markets (installed off-grid with a battery backup) } Specific advantages: modular construction can be easily transported; the installation process can be managed without a crane or heavy equipment } Ideal for energy-access projects targeted towards people without power – often financed by organisations such as ADB or UNDP BUSINESS SWEDEN 5 OCTOBER 2015 7
3 RELEVANT MARKETS – ALL WITH HIGH GROWTH RATE … The Challenge The Business Case – Market Share } Available small scale renewable energy solutions are } 3 main-markets to focus on through smart hybrid solutions: neither aesthetically attractive, nor modular 1. EV charging stations } Not even sustainable due to materials used § Europe: 350K units (2014) vs forecasted >3.6M } Remote off-grid markets are not reached by smart units (2020), CAGR 47% over the period solutions – leaving 1.6 billion people without power 2014-2020 } Most solutions today are pure solar PV – not hybrid § Globally: 1M units (2014) vs forecasted >12.7M } Summarised the existing solutions are: (2020), CAGR 28.3% over the period 2013-2018 } Unattractive and/or noisy (NIMBY movement) § InnoVentum’s market share* in 2020: 3% in } Inefficient to transport and hard to install Europe, 2% globally } Using non-renewable materials causing CO 2 2. Small-scale wind } Not capturing the complementarity of wind and sun § Europe: 202 MW (2013) vs estimated 550 MW (2020), CAGR 15% over the period 2013-2020 InnoVentum Solutions § Globally: 755 MW (2013) vs 2000 MW (2020), CAGR 15% over the period 2013-2020 } Smart modular hybrid solutions giving power day and § InnoVentum’s market share by 2020: 2% in night – all around the seasons Europe and 2% globally } Continuous energy production triples battery lifetime 3. PV installations } Beautiful design using durable and flexible wood for § Europe: 88 GW (2014) vs 156 GW (2018), extreme resilience and silence of operation CAGR 15% over the period 2014-2018 } Patent-protected design easy to transport & install § Globally: 177 GW (2014) vs 540 GW (2019), } Revolutionary sustainable through renewable CAGR 25% over the period 2014-2019 materials & smart screw foundations § InnoVentum’s market share in 2020: 0.5% in } Profitable and globally scalable Europe, 0.4% globally 5 OCTOBER 2015 8 BUSINESS SWEDEN
… WITH ACCUMULATED SALES POTENTIAL OF 1.4 BN SEK … Total%Sales%by% Sales Dali%PowerTower% Dali%PowerTower% Triple%Green%&% Giraffe%2.0 Dalifant Geography%from% in(2015-2020((SEK) Performance%ON2Grid Performance%OFF2Grid Rooftop%Installations 2015%to%2020 Europe' 95%275%000 27%500%000 116%600%000 217%500%000 150%450%000 607%325%000 Percentage%of%sales% 925%000 0 1%100%000 2%500%000 2%550%000 2015 in%EU 2016 2%775%000 1%100%000 2%750%000 5%000%000 7%650%000 43% 2017 8%325%000 2%200%000 8%250%000 10%000%000 12%750%000 2018 18%500%000 4%400%000 16%500%000 25%000%000 21%250%000 2019 27%750%000 6%600%000 33%000%000 50%000%000 42%500%000 2020 37%000%000 13%200%000 55%000%000 125%000%000 63%750%000 Asia 64%935%000 200%860%000 110%550%000 33%500%000 78%200%000 488%045%000 Percentage%of%sales% 1%110%000 660%000 550%000 0 0 2015 in%Asia 2016 2%775%000 3%300%000 2%750%000 1%000%000 1%700%000 34% 2017 5%550%000 9%900%000 8%250%000 2%500%000 4%250%000 2018 11%100%000 22%000%000 16%500%000 5%000%000 8%500%000 2019 16%650%000 55%000%000 27%500%000 10%000%000 21%250%000 2020 27%750%000 110%000%000 55%000%000 15%000%000 42%500%000 Rest%of%the%world 52%725%000 121%000%000 62%150%000 32%500%000 56%950%000 325%325%000 Percentage%of%sales% 2015 in%ROW 2016 925%000 2%200%000 1%650%000 0 1%700%000 23% 2017 1%850%000 6%600%000 5%500%000 2%500%000 4%250%000 2018 5%550%000 13%200%000 11%000%000 5%000%000 8%500%000 2019 16%650%000 33%000%000 16%500%000 10%000%000 17%000%000 2020 27%750%000 66%000%000 27%500%000 15%000%000 25%500%000 TOTAL: 212(935(000 349(360(000 289(300(000 283(500(000 285(600(000 1(420(695(000 Percentage%of%sales% by%product 15% 25% 20% 20% 20% BUSINESS SWEDEN 5 OCTOBER 2015 9
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