19 Blackstone Street Cambridge, MA 02139 617.714.5723 Electricity Storage Innovation September 29,...
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19 Blackstone StreetCambridge, MA 02139
617.714.5723www.ambri.com
Electricity Storage Innovation
September 29, 2014
2 © 2014 Ambri Inc.
Electric grid: largest supply chain without warehouses
“The greatest engineering achievement of the 20th century”- National Academy of Engineering
Graphic source: EPRI
3 © 2014 Ambri Inc.
Industry built on low asset utilization
1 5 10 25 33 500
5
10
15
20
25
30
35
40
45
Percentage of Simple Cycle Combustion Turbines (%)
67%
52%
50% of CTs have < 2% capacity factor
Ca
pa
city
Fa
cto
r (%
)
72
70
68
66
64
60
58
56
54
521980 1990 2000 2010 2020
Ca
pa
city
Fa
cto
r (%
)
ISO-NE Capacity Load Factor, Summer Peak, 1980-2012
Peaking Power Plant Utilization
Sources: EPA, ISO-NE
4 © 2014 Ambri Inc.
Storage addresses many challenges
Industry Challenge Storage value
Underutilized assets Enormous investment required to meet electricity usage
• Avoid or defer investments in generation, transmission and distribution
• Increase system asset utilization through increased load factor
Integrating inflexible generation (e.g., nuclear) and variable renewable resources (e.g., wind and solar)
• Enable more renewable resources to be integrated
Increasing power quality and solving reliability issues world wide
• Reduce effect of off-site calamities
High cost electricity for end users • Reduce demand charges and optimize time-of-use rates
Relieve grid congestion and price volatility
• Smooth demand
Enable the safe and cost-effective shut-down of aging assets
• Ensure environmental sustainability
5 © 2014 Ambri Inc.
The mythical elephant and storage as the holy grail
Storage provides:1. Spinning reserves2. Non-spinning reserves3. Frequency regulation4. Ramp rate modulation5. Capacity6. Energy price arbitrage7. Transmission deferral8. Substation deferral9. Distribution deferral10. Transmission avoidance11. Substation avoidance12. Distribution avoidance
6 © 2014 Ambri Inc.
2006 2007 2008 2009 2010 2011 2012 2013 20140
100
200
300
400
500
600
700
800
900
1000
0
10
20
30
40
50
60
Energy storage market trends
Energy storage projects announced by year
Source: DOE Energy Storage Database; public news sources
MW
/ M
Wh
Nu
mb
er
of
Pro
jec
ts p
er
ye
ar
7 © 2014 Ambri Inc.
Ambri overview
Company History• Formed in 2010 based on MIT research• Currently 40 employees in Cambridge and Marlborough, MA• Based on 40 years of research by Professor Donald Sadoway in
extreme electrochemical processes (e.g., aluminum smelting)• Formerly Liquid Metal Battery Corporation; name derived from the
heart of CAMBRIdge
Core Development Principles• Primary focus low cost • No subsidies required• Simple to manufacture• Use earth abundant materials
Ambri Differentiators• Fast response & high energy: flexibly address a wide range of
applications• High efficiency, long lifespan, reliable • Safe and silent• No moving parts
Funding• Private investors include Khosla Ventures, Bill Gates, Total, KLP
Enterprises and GVB; over $50 million invested• Enabling research grants at MIT from the Deshpande Center, the
Chesonis Family Foundation, Lightspeed, US DOE ARPA-E and Total
2014
Ambri one of 25 most audacious companies named by Inc. magazine
2013
Global Cleantech 100 and Rising Star of the Year Award
Ambri named MIT Technology Review’s 50 Disruptive Companies
2012
Ambri named Mass High Tech “Startup to Watch”
Sadoway’s TED Talk on Ambri’s liquid metal battery has over 1.5 million views
Professor Sadoway named Time’s 100 most influential people in the world
2010
David Bradwell named MIT Technology Review's 35 innovators under 35
8 © 2014 Ambri Inc.
• Ambri has raised over $50 million in equity financing since its founding in 2010.• Ambri’s investors share our long-term vision for developing an electricity storage technology
that will transform the electric power industry everywhere.
Ambri investors
Founded in 2004; Over $2 billion under management
Chair, co-founder and former Chief Executive Microsoft
Family office of Karen Pritzker and Michael Vlock
Founded in 1924, 2012 revenue of $240 billion
Founded in 1807, Swiss insurance firm
2010Series A
2012Series B
2014Series C
KLP Enterprises
9 © 2014 Ambri Inc.
Liquid metal battery technologyInnovative new approach to stationary storage• Focus since inception – low-cost energy storage for grid
– Inspired by aluminum smelting– Initial chemistry is Mg||Sb; commercializing undisclosed chemistry that is lower
cost, higher voltage and operates at a lower temperature• Three liquid layer battery
– Self-segregating, easy to assemble, low-cost materials• Unprecedented lifespan potential• Self-heating at commercial system size
10 © 2014 Ambri Inc.
Ambri LMB technology is unique - negligible fade
0 200 400 600 800 1000 1200 1400 1600 1800 20000
5
10
15
20
25
30
35
40
45
50
Cycles
Dis
char
ge
Cap
acit
y (A
h)
capacity fade: ~0.00021% per cycle Cycling contin-ues…
Ambri System1 MW (max), 2 MWh
11 © 2014 Ambri Inc.
The benefits of long duration battery storageS
yste
m lo
ad o
n t
ran
sfo
rmer
(kW
)
0:00 1:00 2:00 3:00 4:00 5:00 6:00 7:00 8:00 9:00 10:0011:0012:0013:0014:0015:0016:0017:0018:0019:0020:0021:0022:0023:00
+ =
• 1 MW (250 kWh) battery on Hawaii reduced variability of grid frequency by 30-50% across a day.
• Ambri will meet all frequency regulation requirements and will shift solar output to periods of high demand
Battery Charging
Battery discharging
Load w/out Battery (kW)
Load with Battery (kW)
Frequency regulation, Ramp rate Load shifting Simultaneous Service
12 © 2014 Ambri Inc.
Deployments planned for 2015 and beyond
Site Application Benefits
Joint Base Pearl Harbor- Hickham Military Energy security, lower costs, reliability
Hawaii (First Wind and/or Hawaii Natural Energy Institute)
Renewables integration in small grid
Lower costs via reduced diesel consumption, more renewable resources, grid stability
Joint Base Cape Cod Military Energy security, lower costs, reliability
Con Edison & New York BEST testing facility
Alleviate T&Dgrid congestion
Lower costs, grid resiliency
Alaska (University of Alaska Fairbanks and Alaska Power and Telephone)
Renewables integration insmall grid
Lower costs via reduced diesel consumption, more renewable resources, grid stability
13 © 2014 Ambri Inc.
Ambri potential to transform electric industry by…• Enabling renewables• Mitigating congestion• Reducing price volatility• Increasing reliability• Lowering costs $17 trillion to meet peak load vs. trillions less to meet average load
10.1
19.1
35.2
1990 2008 2035
Global Market, 1990-2035
Trans-mission
Distribution Generation -
2,000
4,000
6,000
8,000
10,000
12,000
$1,839
$5,252
$9,791
$ B
illi
on
s
Worldwide Investments, 2011-2030
TW
h (
000)
Source: IEA
Capacity Neededwith and without Storage, in MW
PeakDemand
Average Demand
Capacity Today
Capacity with
Storage
hours
MW
14 © 2014 Ambri Inc.
Ambri next steps
2014
• Build and validate 20 kWh Alpha Core battery
• Validate pack designed for 35 kWh Beta Core batteries
2015
• Deploy Beta Cores at select customer locations
• Select site and begin construction on initial manufacturing plant
2016
• Commission manufacturing plant providing 130 MWh/year capacity
• Implement manufacturing growth strategy
2017 and beyond
• Commercial operation – hundreds of MWhs of Ambri systems deployed
• Establish global manufacturing and marketing partnerships
15 © 2014 Ambri Inc.
Thank you for your interest
To learn more:• Visit www.ambri.com• Watch TED talk and overview video about Ambri technology• Subscribe to company updates
Phil GiudiceChief Executive [email protected] ext. 450