Invinity Energy Systems Plc · LSE:IES

Invinity Energy Systems — redT energy — Investor Presentation (March 2019)

17 slides from Invinity Energy Systems's investor presentation, March 2019

  1. Slide 1: Investor Presentation

    Investor Presentation March 2019

  2. Slide 2: Executive Summary

    Executive Summary  Strategic Review to be launched to consider funding options  Placing + Open offer to fund Strategic Review  New Board leadership  Cost cutting implemented – average monthly opex reducing to sub £0.5m from April  Near-term focus on closing & delivery of large projects in UK, G

  3. Slide 3: Reasons for placing

    Reasons for placing  Formal search for strategic partner taking longer than expected  Encouraging discussions with multiple partners  Setback in February 2019 - withdrawal of lead prospect on final approval of negotiated terms  More time required to close with remaining prospects  Company opera

  4. Slide 4: Short-term actions

    Short-term actions  Started Strategic Review to consider all options available to secure future of business  Board changes  Neil O’Brien leading Strategic Review as Executive Chairman  Scott McGregor to step down from Board, will continue to lead day- to-day business  Jeff Kenna to step down as

  5. Slide 5: Trading update

    Trading update  72 unit (~5MWh) UK grid project – largest UK deployment of flow machines  Purchase agreement signed (subject to CPs) – further details embargoed  Large German projects redesigned and with financiers for review  Delayed due to changes in market, project now redesigned as flow/gas

  6. Slide 6: Investment Opportunity

    Investment Opportunity  New Board leadership confident they can secure value for shareholders given time  Energy market dynamics positive for flow technology, redT recognised as a leader in the space  redT flow machines now operating in commercial applications, building technical credibility  Su

  7. Slide 7: Why partners see redT as valuable?

    Why partners see redT as valuable? Advanced models for commercial applications:  BTM solar + storage reduces energy bills by up to 50% with >10% IRRs  Financial models verified by key sector customers  Initial sale made plus collaborative partnership to optimise energy storage across their sites

  8. Slide 8: Financials

    Financials  Cash reserves at beginning of March £1.7m  Non binding MoU signed for sale of Camco US business for US$1m  Minimum cash required from Placing and Open Offer - £1.5m  Fund raise gives time to complete Strategic Review

  9. Slide 9: Appendix

    Appendix

  10. Slide 10: Commercial Interest Pipeline

    Commercial Interest Pipeline Deal Stage Gross Conversion Weighted Project £64m £32m 50% Development (1,372 units) (691 units) £91m £18m Quoted 20% (2,584 units) (508 units) Early stage £951m 10% £95m £1,106m £145m  Orders closed since last update - UK grid 72 units (~5MWh)  2019/2020 current manuf

  11. Slide 11: 72 units (~5MWh) UK Grid-Scale Project

    72 units (~5MWh) UK Grid-Scale Project  Largest deployment of flow in UK  Hybrid Lithium & flow, grid connected system  Focus for 2019 production  Project details under strict embargo

  12. Slide 12: German project portfolio

    German project portfolio  Modification to SCR bidding mechanism necessitated further analysis  Conclusion - redesign of project to flow/gas hybrid solution supplying 33MW service to SCR  Flow machines, 8MWh of storage – high cycling and heavy utilisation  Gas, 32MW - low cycling and light utilis

  13. Slide 13: UK financed product rollout

    UK financed product rollout  Partnership with Major European energy company  Finance solution to offer BTM solar + storage product to UK C&I sector  Target to deploy circa 100MWp solar + 60MWh flow machines over 3 years  Project details under strict embargo

  14. Slide 14: Neil O’Brien – Executive Chairman

    Neil O’Brien – Executive Chairman  Joined redT in 2016  Previously CEO of Alkane Energy plc (AIM company)  Alkane sold to Balfour Beatty Infrastructure Partners for £61m in 2016  Extensive C-level experience within AIM with specialism within UK energy and transport sector  Currently Chairman at

  15. Slide 15: Disclaimer

    Disclaimer IMPORTANT NOTICE THIS DOCUMENT IS CONFIDENTIAL AND NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA, OR ANY OTHER STATE OR JURISDICTION WHERE SUCH DISTRIBUTION IS UNLAWFUL This d

  16. Slide 16: Disclaimer

    Disclaimer The securities of the Company have not been, and will not be, registered under the Securities Act, or under the applicable securities law or with any securities regulatory authority of any state or jurisdiction of the United States or under the securities laws of Australia, Canada, Japan,

  17. Slide 17: Disclaimer

    Disclaimer Except as required by applicable law or regulation, neither the Company nor VSA Capital Limited ("VSA Capital") or any of their respective directors, officers, partners, employees, agents, affiliates, representatives or advisers undertakes or agrees any obligation to update or revise any

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