Turning intermittent renewables into a stable power · PDF filePotential Investment for...

STRICLTY CONDIFIDENTIAL

Turning intermittent renewables into a stable power supply

ROME, 26th JANUARY 2018

C O M M PA C K

PUBLIC INFORMATION BUT CONTENTS SUBJECT TO COPYRIGHTEPS COMM PACK® are publications of Electro Power Systems S.A. (EPS). The information contained therein are not confidential but all the contents are subject to copyright. As a result, the contents (including by way of illustration only, pictures, charts, etc.) contained therein cannot be sent, copied, reproduced, distributed, released or disclosed, directly or indirectly, in whole or in part, to any person (whether internally or externally to your company) unless authorized in writing by EPS. Non-compliance with these restrictions will result in the violation of legal restrictions in any jurisdiction in which EPS is active.

DISCLAIMER This document does not constitute an offer to sell, or a solicitation of an offer to buy, EPS shares. If you wish to obtain more comprehensive information about EPS, please refer to the public documents registered in France with the Autorité des Marchés Financiers (which are also available in English on our Internet site: www.electropowersystems.com). This document may contain guidance and some forward-looking statements. Although the Company considers that these statements and guidance are based on reasonable hypotheses at the date of publication of this document, they are by their nature subject to risks and uncertainties which could cause actual results to differ materially from those indicated or projected in these statements. For the risk factors behind please refer to the Registration Document 2016 (also available in English on our website: www.electropowersystems.com).

© Copyright 2017 EPS All rights reserved


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http://www.electropowersystems.com



Our Mission3

The Group’s mission is to unlock the energy transition, by mastering the intermittency of renewable energy sources. Being pioneer of Hybrid Storage Solutions, transforming intermittent renewable sources into a stable power source. And enabling renewables to power society: reliably, affordably and sustainably.


100%Storage Systems 100%Microgrids

Grid Support Utility-Scale and behind the meter

Independent Power Generation and weak-grids stabilization

65%

Source: bnef.com

Addressable Markets

100%45 GW

global 2016-2024

14 GW EMEA

65%100%

600 GW global to 2017

29 GW Annually

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http://bnef.com


100%

100%100%

100%

Addressable Market with strong focus in Emerging Countries because of the indisputable market potential

$22bln

Annual Market just for Capacity Additions

($190bln to 2030 according to GTM)

600 GW 29 GW

Annual Capacity Additions

Potential Investment for replacement with microgrids

$960blnCurrent installed fleet of diesel generation

100%2.5blnPeople

Source: bnef.com, GOGLA and BCG integrated with EPS analysis

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http://bnef.com

PRIVILEGED AND CONFIDENTIAL

HyESS®: one vertically-integrated technology platform fits all applications

Battery Pack

Renewable Sources

SCADA and AI Cloud based DERs, Cybersecurity

and Predictive Maintenance

SMART INVERTERInstant RPPT/MPPT for unique

microgrid performance

Generators and Power Plants

24/7 stable power supply

HYDROGEN MODULE Power2Power for long term storage without fossil fuels

ENERGY MANAGEMENT SYSTEM (EMS)

Pool Algorithms & Black Start

POWER CONVERSION SYSTEM (PCS) Synthetic Inertia

DROOP Control and Statism

HyESS® Hybrid Energy Storage System

BATTERY MANAGEMENT SYSTEM (BMS)

For all battery chemistries

PROPRIETARY EPS TECHNOLOGY covered by 125 patents and 500+ trade secrets

MicrogridsIndependent power generation

Utility-Scale Storage SystemsGrid Support

CO

MM

OD

ITIE

S

96

CONFIDENTIAL AND PROPRIETARY

DC AC

Full Inertia Droop Control

PCS

DC DC

BOOST

TRANSFORMER

DC DC

BOOST

DCAC

BACK-TO-BACK CONFIGURATION

ACDC

DCAC

BACK-TO-BACK CONFIGURATION

ACDC

ENERGY MANAGEMENT SYSTEM POOL ALGORITHM MASTER CONTROLLER

IP - Interface Protection

Grig Code compliance CEI016 All.N-bis

SCADAGENERAL CONTROLLER

DC

BU

S 65

0Vdc

AC B

US

CHARGE DISCHARGE

CHARGE DISCHARGE

HYBRID EMS CONTROL METHODs PATENT

DROOPVirtual Inertia

125 µsec

PUREON-GRID & OFF-GRID

DROOP PATENT

HYBRID - H2 FAMILY PATENTS

ISLANDED SUPERFAST vertically integrated and

automatic<20ms TRANSITION PATENT

UNIVERSAL CONVERSION AND CONTROL SYSTEM FOR DISTRIBUTED POWER GENERATION PATENT

INSTANTvertically integrated

MPPT/RPPT TRANSITION PATENT

H2Power-to-Power

Intellectual Property: full coverage of the whole technological platform

Islanded mode(microgrid operations)

Grid Support mode(on-grid operations)

Area covered by 125 patents, applications and 500+ registered trade secrets

DieselGeneratorInterface

DGI

BatteryManagement

System

BMS

7


May December

Technology & Team completion

Elvi Energy acquisition

Industrial and Financial

Restructuring

April

IPO in ParisManagementappointment

2005Politecnico SPIN-OFF

Our Product Story

October

2013

HyESS® developmentFocus on Energy Markets

Product Launch & Scale-Up Microgrids and Utility-Scale Storage Systems

ElectroSelfTM Focus in Telecoms

R&D, Pilot Installations Focus in Telecoms

2016-2017 2018201520142005-2013

Utility-Scale

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Single system size story (by commissioning year) 9

2005-2014 2015 2016 2017 2018

SYSTEM SIZE

PRODUCT FEATURES

MICROGRID POWER SOURCE

SolarWind Generators Power Plants

H2all batteries

Solar Generators Wind

H2Pb

H2Pb Li-ion titanate

H2Pb Li-ion titanate Li-ionNa-Cl

H2all batteries

Solar SolarGenerators

50 kW 1 MW 5.9 MW 20+ MW12 kW

ElectroSelfTM HyESS® HyESS® HyESS®ElectroSelfTM

-

20MW, the Largest in

EU*

One of the Largest

worldwide

* According to Bloomberg New Energy Finance (Energy Storage Project Database, 28 October 2017) as of today just 18 li-ion energy storage systems have been commissioned in the world with a capacity higher than 20MW (all in the US, Korea and Japan).


EPS Business Model: a System Provider that develops its own pipeline of projects acting for the

customer as a partner also for all the site activities: one single point of responsibility, minimizing project risk and complexity for the customer

TECHNOLOGY PROVIDER

Software Engineering

System Design &

Manufacturing

Hardware & Technology

Manufacturer

PROJECT DEVELOPER

GENERAL CONTRACTOR (EPC & O&M)

Project Development

Financing Arranger

Site Management &

Construction

Customer Service

Source: EPS 2020 Technological Roadmap

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May

2014December

2015Technology & Team

completionElvi Energy acquisition

Industrial and Financial

Restructuring completion

Today’s Partners & Customers:

April

2015IPO in ParisManagement

appointment

2005Politecnico SPIN-OFF

Our growth in a nutshell: a transformation strategy

H1 Revenues Order Intake

Energy Storage and microgridsBusiness Model validation

Scale-Up Pivoting

in the Energy MarketsTechnology Incubation

Research funded by top European VCs investors

October

2013

11

FY2014 FY2015 FY2016 9-month 2017

16,3

12,1

1,20,1

6,67,1

1,20,8


5

10

15

20

2014 2017

Revenues and Order Intake (€mln) Human Resources (FTE)

Our Results: continuous growth in terms of revenues, purchase orders and job creation

Order intake

Source: EPS FY2016 Financial Statements and Annual Financial Report. 2017 Revenues refer to brokers consensus and Order Intake is updated at 4 September 2017 assuming €0.5mln/MW.

25

50

75

100

2013 2017

Source: EPS Annual Financial Report and update as at 07.09.2017

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Microgrids generation capacity

Grid-Support Solutions

Energy Storage

APAC Europe Africa Americas

Our Installed Base: one of the largest microgrids installed base in the world

1%23%

6%

70%

36 MW

89%

11%

19 MW

4%7%

73%

16%

47 MWh

Source: EPS FY2016 Annual Financial Report

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27%with a PhD

or MBA equivalent

87people

95%filed internationally

125patents and applicatons

50%on IEEE

150+ publications

Our Know-how: Academic excellence transformed into proprietary technology and solid

intellectual property portfolio

Source: EPS 2016 Annual Financial Report and 2016 Corporate Social Responsibility Report updated as at 30.9.2017

90%in registered secured form

500+ trade

secrets

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100% 100% 100% 100%10,000sqm

Industrial plants

400MW Production capacity

12 years R&D

Our Industrial and Technological Solidity: years of research and development with the Politecnico of Milan

and Turin, transformed into an industrial footprint

Source: EPS 2016 Annual Financial Report and 2016 Corporate Social Responsibility Report

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20MW already under construction


100%100%100%165,000+

connected users

20mln + running hours

21 countries

Our in-field experience: worldwide connected users and millions of running hours

Source: EPS 2016 Annual Financial Report and 2016 Corporate Social Responsibility Report

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27

17


28

18


29

19


30

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How FCH JU has supported EPS’ growth

The Group’s mission is to unlock the energy transition, by mastering the intermittency of renewable energy sources.Being pioneer of Hybrid Storage Solutions that enable intermittent renewable sources to be transformed into a stable power source.And enabling renewables to power society: reliably, affordably and sustainably.

• FCH1-JU has contributed to the EPS’ growth in the Technology Incubation phase of the company started in2005 as spin-off of Politecnico di Torino.

• In that phase EPS acted as Coordinator of two projects supported by FCH-JU

FITUP project (GA 256766) FLUMABACK project (GA 301782)Collaborative Project: Fuel cell field test demonstration of economic and environmental viability for portable generators, backup and UPS power system applications

Collaborative Project: Fluid Management component improvement for Back up fuel cellsystems

Application Area: SP1-JTI-FCH.4: Early Markets Application Area: SP1-JTI-FCH.3: Stationary Power Generation & CHP

Topic: SP1-JTI-FCH.2009.4.2: Portable generators, backup and UPS power systems

Topic: SP1-JTI-FCH.2011.3.3: Component improvement for stationary power applications

Period: 01/11/2010 – 30/04/2014 Period: 01/07/2012 – 30/06/2015Budget: € 5.386.469 overall project Budget: € 3.999.005overall project Contribution: € 2.402.580 overall project (€ 601.523 to EPS)

Contribution: € 2.402.580 overall project (€ 307.484 to EPS)

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How FCH JU supports EPS’ growth

The Group’s mission is to unlock the energy transition, by mastering the intermittency of renewable energy sources.Being pioneer of Hybrid Storage Solutions that enable intermittent renewable sources to be transformed into a stable power source.

• FCH2-JU supports technology improvement and optimization of EPS hydrogen technology and validation of business case of P2P applications.

• EPS is partner of HEALTH-CODE project (GA 671486) - Real operation pem fuel cells HEALTH-state monitoring and diagnosis based on dc-dc COnverter embeddeD Eis. Period: 01/09/2015 – 31/12/2018; contribution: € 295.687 to EPS

• In the REMOTE project (GA 779541) EPS will develop 3microgrids, all based on the integration of RES, batteries andhydrogen-based energy storage solutions: Ginostra Smart Island, 2MWh (Italy) Off-Grid Microgrid in Serres, 1MWh (Greece) Off-Grid Microgrid in Ambornetti, 0.5MWh (Italy)

• Budget: € 6.789.307 overall project• Contribution: € 4.995.950 overall project (€ 1.796.550 to EPS)

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C O M M PA C K


23PUBLIC INFORMATION BUT CONTENTS SUBJECT TO COPYRIGHTEPS COMM PACK® are publications of Electro Power Systems S.A. (EPS). The information contained therein are not confidential but all the contents are subject to copyright. As a result, the contents (including by way of illustration only, pictures, charts, etc.) contained therein cannot be sent, copied, reproduced, distributed, released or disclosed, directly or indirectly, in whole or in part, to any person (whether internally or externally to your company) unless authorized in writing by EPS. Non-compliance with these restrictions will result in the violation of legal restrictions in any jurisdiction in which EPS is active.

DISCLAIMER This document does not constitute an offer to sell, or a solicitation of an offer to buy, EPS shares. If you wish to obtain more comprehensive information about EPS, please refer to the public documents registered in France with the Autorité des Marchés Financiers (which are also available in English on our Internet site: www.electropowersystems.com). This document may contain guidance and some forward-looking statements. Although the Company considers that these statements and guidance are based on reasonable hypotheses at the date of publication of this document, they are by their nature subject to risks and uncertainties which could cause actual results to differ materially from those indicated or projected in these statements. For the risk factors behind please refer to the Registration Document 2016 (also available in English on our website: www.electropowersystems.com).

© Copyright 2017 EPS All rights reserved



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