Ess Tech, Inc. · NYSE:GWH
Ess Tech — ESS Conference Call to Discuss Honeywell Investment (September 2023)
11 slides from Ess Tech's conference presentation, Sep 25, 2023
Slide 1: Catalyzing a Clean Future. Every Day.
+ Catalyzing a Clean Future. Every Day. Honeywell Strategic Relationship September 25, 2023
Slide 2: Disclaimers
Disclaimers This presentation includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). These forward-looking statements can be ident
Slide 3: ESS & Honeywell: A Category-Defining Relationship
ESS & : A Category-Defining Relationship Broad ranging Accelerates strategic Validates ESS’s technology relationship to proprietary iron innovation and redefine the flow technology as value creation Long-Duration market-leading through the energy Energy Storage LDES technology transition (LDES) cate
Slide 4: LDES is Key to Energy Transition
LDES is Key to Energy Transition COP 26: Major global report by McKinsey & Co. found that LDES is key to energy transition • LDES sits between lithium batteries and hydrogen • LDES defined as two categories: 8-24h and >24h storage • Lithium will continue to play a role for <6h but not appropriate fo
Slide 5: LDES Expected to Receive up to $3T in Cumulative Investment by 2040
LDES Expected to Receive up to $3T in Cumulative Investment by 2040 ~$50B ~$200-500B ~$1100-1800B ~$1500-3000B USD bn est. cumulative capex investment ~85-140 TWh 140 $3 Trillion investment 120 in energy storage 100 required by 2040 ~35-70 TWh 80 60 With LDES, total energy ~5-10 TWh system costs can
Slide 6: Investment and Global Collaboration to Drive Growth
Investment and Global Collaboration to Drive Growth Investment Market and Product Collaboration Strategic Investment Go-To-Market Combined Intellectual Property Joint Innovation Honeywell has invested Honeywell ESS receives exclusive ESS and Honeywell $27.5M into ESS purchase target of license of Ho
Slide 7: Investment Details
Investment Details 1 Honeywell has purchased 16.5M shares for $27.5M at $1.67 per share Honeywell received a warrant to 2 purchase an additional 10.6M shares for $20M at $1.89 per share 3 ESS has received $15M pre-payment for Honeywell product purchases Catalyzing a Clean Future. Every Day. 7
Slide 8: Global Collaboration
Global Collaboration Go-To-Market Intellectual Property Joint Innovation Honeywell to integrate ESS license Companies invest in joint ESS technology into to Honeywell’s flow battery development for continual global go-to-market offering intellectual property technology advancement, cost reduction an
Slide 9: Cash Infusion Strengthens ESS Balance Sheet
Cash Infusion Strengthens ESS Balance Sheet $42.5 million added to balance sheet today; additional investment possible Investment Cash Flow Initial Initial Investment IP performance investment warrants warrants warrants2 $80.8 1 Shares 16.5M 10.6M 6.3M 775.6K $62.5 1 Price $1.67 $1.89 $2.90 $1.45 $4
Slide 10: An Industry-Defining Collaboration
An Industry-Defining Collaboration Catalyzing a Clean Future. Every Day. 10
Slide 11: Q&A
Q&A With: Eric Dresselhuys, CEO Tony Rabb, CFO
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