Invinity Energy Systems Plc · LSE:IES
Invinity Energy Systems — Camco International — H1 2010 Earnings Presentation
26 slides from Invinity Energy Systems's earnings presentation, Oct 4, 2010
Slide 1: Investor Presentation Interim Results 30 June 2010
Investor Presentation Interim Results 30 June 2010 Scott McGregor, CEO Yariv Cohen, CCO 4 October 2010
Slide 2: Important Disclaimer
Important Disclaimer These presentation materials (the "Presentation Materials”) are being solely issued to and directed at (a) persons having professional experience in matters relating to investments and who are investment professionals as specified in Article 19(5) of the Financial Services and M
Slide 3: Agenda
Agenda • About Camco • Joint Venture – Camco South East Asia • Financial Overview for the period • Project Development and Investment • Carbon Project Development • Energy and Carbon Advisory • Outlook Camco – An emission to energy company 2
Slide 4: Camco - A global developer of emission reductions and clean energy projects
Camco - A global developer of emission reductions and clean energy projects Camco – An emission to energy company 3
Slide 5: About Camco
About Camco Carbon development services Developing carbon projects in both compliance and voluntary markets Camco Main focus in China, Africa, Russia, USA and SEA Project Development & Carbon Advisory Project development & investments Investments • Camco identifies • Develops • Assists clients Devel
Slide 6: Where we operate, key activities
Where we operate, key activities PROJECT DEVELOPMENT ADVISORY SERVICES CARBON DEVELOPMENT •building a diverse portfolio of projects in •delivering low carbon energy, sustainable •strong presence in Moscow focusing on Russia, FSR industrial energy efficiency, and agricultural development solutions, a
Slide 7: Focus of our regions - near term
Focus of our regions - near term CARBON DEVELOPMENT CARBON DEVELOPMENT ADVISORY SERVICES •Develop and monetise pre-compliance carbon •Develop existing assets in the region to monetization •Continued growth in our energy and carbon projects stage advisory PROJECT DEVELOPMENT •Originate and develop ne
Slide 8: Policy development across our regions
Policy development across our regions •Expanding state RPS’s •Regulation such as CRC and low emission building •Russian government approved first JI projects •Growing local state incentives and financing schemes creating demand for energy advisory •Potential compliance with post 2012 EU-ETS for low
Slide 9: Agenda
Agenda • About Camco • Joint Venture – Camco South East Asia • Financial Overview for the period • Project Development and Investment • Carbon Project Development • Energy and Carbon Advisory • Outlook Camco – An emission to energy company 8
Slide 10: Joint Venture – Camco South East Asia
Joint Venture – Camco South East Asia JV overview • Joint Venture Between Khazanah Nasional Berhad and Camco • Khazanah Nasional Berhad is the investment holding arm of the Government of Malaysia with investments in over 50 companies globally • The JV is capitalised with $30 million to expand in SE
Slide 11: Joint Venture – Camco South East Asia
Joint Venture – Camco South East Asia JV business model • Carbon- JV will expand its carbon origination activities in SE Asia; • current carbon projects in the region will be transferred into the JV • Investments, sector focus; • Biomass • Biogas Camco SE • Industrial energy efficiency Asia • Adviso
Slide 12: Agenda
Agenda • About Camco • Joint Venture – Camco South East Asia • Financial Overview for the period • Project Development and Investment • Carbon Project Development • Energy and Carbon Advisory • Outlook Camco – An emission to energy company 11
Slide 13: Financial Highlights period ending 30 June
Financial Highlights period ending 30 June Camco has achieved profitability for the first half of 2010 • Camco achieved a profit for the first half of 2010 € 0.1 compared to a loss of €18.2 million for the first half of 2009 • Revenue more than doubled to €11 million, up from €5 million for the equi
Slide 14: Agenda
Agenda • About Camco • Joint Venture – Camco South East Asia • Financial Overview for the period • Project Development and Investment • Carbon Project Development • Energy and Carbon Advisory • Outlook Camco – An emission to energy company 13
Slide 15: Emissions-to-Energy – our focus
Emissions-to-Energy – our focus Sector Overview Phase 1 Phase 2 Phase 3 Renewable Energy Emissions to Energy Next Gen Technologies 1995 2010 2020 Venture Shakeout Growth Maturity Regulations Subsidies Regulations Subsidies Regulations Subsidies Market Value Carbon Carbon Phase 2 Phase 1 Existing Exi
Slide 16: Project Development & Investments
Project Development & Investments Business model Cost and compensation : • Financial closing success fee = < 5% of capital cost of project • 15-30% developer carry • Industry returns to developer on development costs for successful projects usually ~ IRR 40% Key success factors • Secure supply contr
Slide 17: Project development and investment
Project development and investment Available capital to invest in SE Asia and the US • Camco SE Asia plans to initially develop emission to energy projects of $120 million value in the region • Growing incentives in the region provide investment opportunities • Camco’s technical expertise combined w
Slide 18: Agenda
Agenda • About Camco • Joint Venture – Camco South East Asia • Financial Overview for the period • Project Development and Investment • Carbon Project Development • Energy and Carbon Advisory • Outlook Camco – An emission to energy company 17
Slide 19: Market position and origination capability
Market position and origination capability Camco is a global leader in carbon reduction project origination • In non-industrial gas projects (i.e. excluding HFC, PFC, SF6 and N2O Projects), Camco has the largest portfolio of CERs from active CDM projects in the world • Awarded Best Carbon Developer
Slide 20: Carbon Project Development
Carbon Project Development Carbon pipeline progressing; an increase in issuance • First projects to be approved by the Russian government; two large Camco projects approved • Increase in issuance in the period ending 30 June 4.3 million CERs issued (30 June 2009: 1.0 million tonnes) • Recent acceler
Slide 21: Carbon credit project management - portfolio
Carbon credit project management - portfolio Camco continues to develop its portfolio and to move projects through the CDM registration process - Portfolio as at 30 June 2010 Basis Status Delivered / To be Total Carbon Share 28.6 Issued delivered Risked up to 2013 Tonnes1 Carbon Share In Sold 11.3 S
Slide 22: Agenda
Agenda • About Camco • Joint Venture – Camco South East Asia • Financial Overview for the period • Project Development and Investment • Carbon Project Development • Energy and Carbon Advisory • Outlook Camco – An emission to energy company 21
Slide 23: Energy and carbon advisory
Energy and carbon advisory Advisory services profitable for the first half of 2010 UK moving firmly into profit • The Advisory business had €4.7 million in external revenues and a profit of €0.4 million compared to a loss of €1.3 million and €0.3 million for the first and second half of 2009 respect
Slide 24: Agenda
Agenda • About Camco • Joint Venture – Camco South East Asia • Financial Overview for the period • Project Development and Investment • Carbon Project Development • Energy and Carbon Advisory • Outlook Camco – An emission to energy company 23
Slide 25: Outlook – 2010
Outlook – 2010 Camco is positioned to accelerate its business through the remainder of 2010 Project -Expand current JV operations Development -Deploy available capital into Emissions to Energy projects in the US and Investments and China South East Asia Develop and monetise existing projects and exp
Slide 26: Camco
Camco Camco – An emission to energy company 25