Hydrogenpro Asa · OSL:HYPRO
Hydrogenpro Asa — Q1 2022 Earnings Presentation
29 slides from Hydrogenpro Asa's earnings presentation, May 25, 2022
Slide 1: Q1 2022 presentation
Q1 2022 presentation Elling Nygaard, CEO Martin Thanem Holtet, CFO 25th of May 2022
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. Introduction II. Business update III. Strategy IV. Summary
Slide 4: I. Introduction
Il. Introduction ‘4ydrogen pro
Slide 5: Become #1 provider of large-scale green hydrogen plants
VISION Renewables Become #1 provider of large- scale green hydrogen plants H2 + MISSION Water O2 Accelerate global decarbonization H2O with world-class sustainable green hydrogen solutions LARGE-SCALE 5 HYDROGEN PLANTS
Slide 6: HydrogenPro to become #1 large-scale provider of green hydrogen production plants
HydrogenPro to become #1 large-scale provider of green hydrogen production plants Technology Global Scalability Life Cycle Leader Footprint Partner 6
Slide 7: Hydrogen enables the renewable energy transition
Hydrogen enables the renewable energy transition Power-To- Renewables Gas Refinery/ Decarbonization Synthetic fuel H2 Water + Balancing the grid O2 Fertilizer/ H2O ammonia LARGE-SCALE HYDROGEN PLANTS Steel Production
Slide 8: Hydrogen enables the renewable energy transition
Hydrogen enables the renewable energy transition Power-To- Gas Refinery/ Decarbonization Synthetic fuel Balancing the grid Fertilizer/ ammonia Steel Production
Slide 9: Hydrogen in 2050
Hydrogen in 2050 20% 22% of global carbon abatement of global final energy demand Source: Hydrogen Council’s report “Hydrogen for Net Zero”
Slide 10: II. Business update
Il. Business update ‘Aydrogen pro
Slide 11: Business update Q1 2022
Business update Q1 2022 Q1 2022 financials – low burn-rate and well-capitalized balance sheet >USD50 mill. PO with Mitsubishi – one of the largest electrolyser PO’s ever + 10-year service agreement USD 3 mill. PO with Mitsubishi – large electrolyser to Takasago Hydrogen Plant Successful initial veri
Slide 12: Q1 2022 financials
Q1 2022 financials Revenues Adj. EBITDA1 (NOK mill) (NOK mill) Partnership strategy to fast-track build-up of 11.1 8.8 global presence and market awareness… Q1 2021 Q4 2021 Q1 2022 0.6 Q1 2021 Q4 2021 Q1 2022 -6.4 -15.4 …combined with a -17.4 focused capital deployment plan: • Supply chain / fabrica
Slide 13: Landmark purchase order from Mitsubishi
Landmark purchase order from Mitsubishi 1 On April 4th, 2022: >USD 50 mill. • Total 40 electrolyser systems • One of the largest electrolyser system contracts ever recorded • To be fabricated at HydrogenPro’s fabrication facility in China • Additionally: A long-term service and support agreement (10
Slide 14: Successful initial verification results of advanced electrode technology
Successful initial verification results of advanced electrode technology • Electrode efficiency verification test on-going at Technology center in Herøya, Norway • Initial test runs show efficiency in line Initial installation of the plating line at our fabrication facility in Aarhus, Denmark with s
Slide 15: Completed fabrication of world's largest electrolyser
Completed fabrication of world’s largest Tianjin factory electrolyser (300MW capacity) • COVID-19 restrictions lifted in China, back in normal operations • Fabrication of the world’s largest single stack high-pressure alkaline electrolyser = Factory established system completed = In preparation • Pr
Slide 16: Active sales pipeline as of end Q1 2022
Active sales pipeline as of end Q1 2022 12.7 USD 6.6 bn GW total value 97 + on-going FEED studies projects Note: DG Fuels, H2V projects and Mitsubishi in US are additional projects and are not included in the sales pipeline
Slide 17: Continued strong public commitments for hydrogen in the energy transition
Continued strong public commitments for hydrogen in the energy transition 2019 >2020 2022 Germany, Belgium and France Japan, South Korea and 13 new countries have published The European Commission announces hydrogen deployment Netherlands release national national hydrogen strategies on rele
Slide 18: III. Strategy
lll. Strategy ‘4ydrogen pro
Slide 19: HydrogenPro to become #1 large-scale provider of green hydrogen production plants
HydrogenPro to become #1 large-scale provider of green hydrogen production plants Technology Global Scalability Life Cycle Leader Footprint Partner • High-pressure • >1GW global • Standardization offers • Full-fledged life alkaline electrolysers production capacity efficiency in production cycle par
Slide 20: HydrogenPro's advanced electrode technology increases efficiency
HydrogenPro’s advanced electrode technology increases efficiency Advanced electrode technology with nickel coating Lab tests proving 14 % increased efficiency +14% Initial electrolyser test results verified Note: Simulated modelling gives 93% electrolyser efficiency/14% reduction of energy costs Not
Slide 21: HydrogenPro's advanced electrode technology reduces costs
HydrogenPro’s advanced electrode technology reduces costs Electricity is by far the largest cost Electrode technology is a major advantage Levelized cost of hydrogen (“LCOH”)1 Investment cost Electricity price ($/MWh) 20 50 80 & other OPEX: ~10-30% Annual OPEX savings $2.3m $5.8m $9.3m (100MW plant)
Slide 22: Global fabrication and engineering presence
Global fabrication and engineering presence Fabrication facility for • Partnering enable a more dynamic, flexible electrodes in Denmark supply chain and deliveries • Reducing upfront costs compared to wholly-owned fabrication sites Tianjin factory • Industrial competence engineering (300MW capacity)
Slide 23: Standardized system offering enables fast global scale up
Standardized system offering enables fast global scale up Turn-key process plant Scope delivered Standardized core scope manufactured by together with partners Scope delivered with Electro large industrial partners like Mitsubishi and ABB Targeting additional Auxiliary strategic partnerships sys
Slide 24: Life cycle partner model increasing recurring revenues
Life cycle partner model increasing recurring revenues Increase in installed base of plant deliveries will accumulate recurring revenues $ Life-cycle recurring revenues Rapid response support Service and overhaul Life-cycle management Predictive modelling Remote and digital services Production optim
Slide 25: Sustainability strategy
Sustainability strategy SDGs Ambition Goals Target date PEOPLE I. Health and safety are key to become I. Short leave/overall leave less I. Annually (2023) successful than country average for all II. Annually (2024) locations (4%) II. We aim to have zero accidents and work-related health issues at th
Slide 26: IV. Summary
IV. Summary ‘4ydrogen pro
Slide 27: HydrogenPro recent highlights 2022
HydrogenPro recent highlights 2022 Landmark purchase order >USD50M / 40 electrolysers with Mitsubishi 10 years service and support agreement with Mitsubishi Sales pipeline of 12.7 GW/USD 6.6bn Electrode technology reduces energy costs by 14% - verification of results ongoing Completed fabrication of
Slide 28: Q&A
Q&A
Slide 29: www.hydrogen-pro.com
‘\ydrogen pro www.hydrogen-pro.com