Hydrogenpro Asa · OSL:HYPRO
Hydrogenpro Asa — Q3 2021 Earnings Presentation
23 slides from Hydrogenpro Asa's earnings presentation, Nov 22, 2021
Slide 1: Q3 2021 presentation
Q3 2021 presentation Elling Nygaard, CEO Martin Thanem Holtet, CFO 22nd of November 2021
Slide 2: Disclaimer
Disclaimer The following applies to this document, the oral presentation of the information in this document, and any question-and-answer session that follows the oral presentation (collectively, the “Information”). By receiving and/or attending a meeting where this presentation is made and in acces
Slide 3: Agenda
Agenda I. Q3 2021 highlights II. Market outlook III. Our offerings IV. Business update V. Finance VI. Summary 3
Slide 4: Q3 2021 highlights
Q3 2021 highlights BUSINESS UPDATE SALES ORGANIZATIONAL DEVELOPMENTS ▪ Acquired 75% of fabrication company THM ▪ Prospect pipeline from 6.9GW to 8.2GW ▪ New CEO and CCO onboarded including IP rights and 300MW production capacity ▪ Key contract opportunities closer to FID and ▪ Strengthening of board
Slide 5: Agenda
Agenda I. Q3 2021 highlights II. Market outlook III. Our offerings IV. Business update V. Finance VI. Summary 5
Slide 6: Significant growth required to meet green H2 demand in IEA Net Zero Scenario
Significant growth required to meet green H2 demand in IEA 2050 Net Zero Emission Scenario Source of global hydrogen production1 Required electrolyser capacity1 600 3600 500 400 7.5% Gigawatt CAGR Mt H2 300 200 850 100 121% CAGR 0.3 0 2020 2030 2050 2020 2030 2050 Fossil By-product Fossil with CCUS
Slide 7: Strong public support commitments globally
Strong public support commitments globally ▪ Annual quota cuts of almost 50 million tons CO2 equivalents after 2020 CO2 taxes1 ▪ Almost 90% reduction from 2013 to 2050 ▪ Hydrogen Council members plan to invest more than USD 11.1 billion to commercialize hydrogen ▪ Governmental co-funding essential t
Slide 8: Agenda
Agenda I. Q3 2021 highlights II. Market outlook III. Our offerings IV. Business update V. Finance VI. Summary 8
Slide 9: HydrogenPro to become #1 large-scale provider of green hydrogen production plants
HydrogenPro to become #1 large-scale provider of green hydrogen production plants ✓ Global IP rights for core technologies TECHNOLOGY ✓ Owner of next-generation advanced electrode technology, ready for market in 2022 LEADER ✓ HydrogenPro’s efficiency advantage is a game changer, reducing levelized c
Slide 10: Major milestone in global technology and manufacturing strategy
Major milestone in global technology and manufacturing strategy ✓ 75% owned by HydrogenPro ✓ Total investment NOK48m ✓ Full control over IP and core technology ✓ 300MW production capacity by Q2/22 ✓ 34 employees ✓ Located in Tianjin, China 10
Slide 11: HydrogenPro's technology reduces cost of hydrogen significantly
HydrogenPro’s technology reduces cost of hydrogen significantly Higher efficiency Electricity is by far the largest cost → lower electricity consumption Hydrogen at $1.2/kg² Levelized cost of hydrogen (“LCOH”)1 Efficiency Reduced electricity consumption ▪ 75% less cooling water needed Investment cos
Slide 12: Electrode production facility located in Aarhus, Denmark
Electrode production facility located in Aarhus, Denmark 12
Slide 13: Technology advantages
Technology advantages Large-scale modular hydrogen plant World’s largest ▪ High pressure alkaline technology cell-stack ▪ Plant efficiency ▪ Compact size due to pressure and cell-stack size ▪ Capex efficiency ▪ Large scale ▪ Design limits of components ▪ Modular and standardized ▪ Easily scalable wi
Slide 14: Agenda
Agenda I. Q3 2021 highlights II. Market outlook III. Our offerings IV. Business update V. Finance VI. Summary 14
Slide 15: Significant increase in active sales pipeline with several investment decisions expected
Significant increase in active sales pipeline with several investment decisions expected late 2021/2022 Active sales pipeline ▪ 66 active projects in pipeline1 vs. 55 as of end Q2 GW electrolyser capacity ▪ Average size per project: 124MW 8.2 ▪ Main end users: ammonia, metal, refineries, power to ga
Slide 16: Global fabrication set-up to maintain cost leadership and ensure local presence
Global fabrication set-up to maintain cost leadership and ensure local presence ▪ Preparing for three main production hubs located in Europe, US and APAC ▪ Dynamic, flexible and asset light supply chain ▪ Reduces upfront cost related to establishing own fabrication sites ▪ Partner with world-class f
Slide 17: Agenda
Agenda I. Q3 2021 highlights II. Market outlook III. Our offerings IV. Business update V. Finance VI. Summary 17
Slide 18: DG Fuels: electrolyser capacity of 839MW
DG Fuels: electrolyser capacity of 839MW ▪ HydrogenPro joined Black & Veatch and Energy Vault, Inc. in financing all cash requirements for basic engineering/FEL-2 ▪ Convertible loan of USD 3 million ▪ Electrolyser capacity up to 839MW, HydrogenPro exclusive provider ▪ Firm commitments and non-bindin
Slide 19: Q3 2021 financials
Q3 2021 financials (NOKm) INCOME STATEMENT Q3 2021 Q2 2021 YTD 2021 Revenue, incl. other operating income 8.2 0.1 9.0 ▪ Adj. EBITDA1 of NOK -4.9m, reported EBITDA of NOK -10.6m and a Raw materials and consumables used 6.5 0.1 7.3 net loss of NOK11.4m in Q3 2021 Payroll expenses 3.1 2.0 6.8 Other ope
Slide 20: Robust financial position with clearly defined growth path
Robust financial position with clearly defined growth path (NOKm) BALANCE SHEET Q3 2021 Q2 2021 FY 2020 ASSETS Total intangible assets 61.3 59.5 55.3 Partnership strategy to fast-track build-up of Plant, machinery and equipment Investments in subsidiaries, shares, other securities 16.6 0.1 11.6 0.1
Slide 21: Agenda
Agenda I. Q3 2021 highlights II. Market outlook III. Our offerings IV. Business update V. Finance VI. Summary 21
Slide 22: HydrogenPro is attractively positioned in fast-growing market
HydrogenPro is attractively positioned in fast-growing market Technology leadership: Owner of the electrolyser technology and next-generation advanced electrodes Partnership strategy to fast-track global upscaling Global fabrication strategy Growing momentum in projects and sales pipeline Ongoing bu
Slide 23: www.hydrogen-pro.com
‘\ydrogen pro www.hydrogen-pro.com