Fuelcell Energy, Inc. · NASDAQ:FCEL
Fuelcell Energy — Investor Presentation (June 2020)
22 slides from Fuelcell Energy's investor presentation, Jun 23, 2020
Slide 1: FuelCell Energy Company Update June 2020
FUELCELL ENERGY INVESTOR PRESENTATION FuelCell Energy Company Update June 2020
Slide 2: Safe Harbor Statement
FUELCELL ENERGY INVESTOR PRESENTATION Safe Harbor Statement This presentation contains forward - looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 including, without limitation, statements with respect to the Company’s anticip
Slide 3: Purpose Statement
FUELCELL ENERGY INVESTOR PRESENTATION Purpose Statement 3 Enable The World To Live A Life Empowered By Clean Energy
Slide 4: A Global Leader in Fuel Cell Technology – Operating Since 1969
FUELCELL ENERGY INVESTOR PRESENTATION GLOBAL CUSTOMERS FuelCell Energy: A Global Leader in Fuel Cell Technology – Operating Since 1969 Demand for Clean, Reliable Electricity Driving Adoption of Fuel Cell Technology COMPANY HIGHLIGHTS 1 Headquarters Danbury, CT Listing: NASDAQ FCEL Employees ~300 Con
Slide 5: How fuel cells convert fuel to electrical power
FUELCELL ENERGY INVESTOR PRESENTATION Fuel cells cleanly and efficiently convert chemical energy from hydrogen - rich fuels into electrical power and high quality heat via an electrochemical process The process is highly efficient and emits water rather than pollutants as there is no burning of
Slide 6: In House Fuel Cell Manufacturing Expertise
FUELCELL ENERGY INVESTOR PRESENTATION In House Fuel Cell Manufacturing Expertise FuelCell Energy utilizes proprietary designs and processes, along with state - of - the - art manufacturing equipment, to produce the fuel cell components that are the heart of the Company’s SureSource systems 400 compo
Slide 7: Global Track Record
FUELCELL ENERGY INVESTOR PRESENTATION • Utility - owned, rate - based • Enhance resiliency • 2.8 MW fuel cell on ¼ acre - ~23,000 MWh annually • 2.2 MW solar on ~9 acres - ~3,000 MWh annually • Power sold to grid • Enhance resiliency • Brownfield revitalization • 15 MW on 1 ½ acres • Only 12 mo. Ins
Slide 8: Long-term Macro Trends Supporting Clean Energy
FUELCELL ENERGY INVESTOR PRESENTATION Long - term Macro Trends Supporting Clean Energy Well Positioned to Meet Growing Demand (1) Source : Guardian (2) Sierra Club Sustainable Clean Energy Renewable energy exceeded coal for the first time by providing 23% of U.S. power generation, compared to coal’s
Slide 9: Recent Developments
FUELCELL ENERGY INVESTOR PRESENTATION Recent Developments Recent Strategic Actions Position FuelCell Energy for Long - term Success Tony Leo appointed CTO and Mike Lisowski appointed COO June Jason Few appointed CEO Fully implemented business restructuring initiatives to realize annualized operating
Slide 10: Recent Company Highlights
FUELCELL ENERGY INVESTOR PRESENTATION Recent Company Highlights 10 Fiscal Q2 revenue growth reflecting growth across the business 1 Improved margins compared to prior year led by increased Advanced Technology work on Carbon Capture Technology, partially offset by unabsorbed fixed costs as a result o
Slide 11: Second Quarter of Fiscal 2020 Highlights
FUELCELL ENERGY INVESTOR PRESENTATION Second Quarter of Fiscal 2020 Highlights REVENUE 105% increase to $18.9M in Q2 FY20 versus $9.2M in Q2 FY19 GROSS PROFIT $0.17M vs. $(3.6M) in Q2 FY19 OPERATING EXPENSE 41%, or $5.7M, decrease vs. Q2 FY19 LOSS FROM OPERATIONS Improved to $( 8.1M ) vs. $(17.6M) i
Slide 12: Second Quarter of Fiscal 2020 Financial Performance
FUELCELL ENERGY INVESTOR PRESENTATION Second Quarter of Fiscal 2020 Financial Performance Operational Expenses, Cash and Equivalents, and COVID - 19 Impacts Managed 12 1 Refer to reconciliation in Appendix. 2 As of 4/30/20 . 3 Cash funded under the Orion Energy Partners loan facility to pay for appr
Slide 13: Powerhouse Business Strategy
FUELCELL ENERGY INVESTOR PRESENTATION Powerhouse Business Strategy Positioning FuelCell Energy for Long - term Growth and Value Creation On a Three - year Execution Path to Transform the Company 13 TRANSFORM STRENGTHEN GROW Build a Solid Financial Foundation Strengthen the Business and Maximize Oper
Slide 14: Continued Focus on Profitable Growth: Long Term Targets and Goals
FUELCELL ENERGY INVESTOR PRESENTATION Continued Focus on Profitable Growth Enabled by Strengthened Financial Position and Sources of Funding 14 FY 2022 TARGETS Grow Generation Portfolio 1 100% Revenue Growth 1 Double - digit CAGR Adjusted EBITDA Deliver Positive Adj. EBITDA FUTURE GOALS Achieve Grid
Slide 15: Key Investment Highlights
FUELCELL ENERGY INVESTOR PRESENTATION Key Investment Highlights 15 1 2 3 4 Strengthened balance sheet with funding secured to deliver long - term projects to generate recurring revenue New leadership committed to project execution, achieving financial milestones and operational efficiencies Unrivale
Slide 16: Appendix
FUELCELL ENERGY INVESTOR PRESENTATION Appendix
Slide 17: Projects in Process as of April 30, 2020
FUELCELL ENERGY INVESTOR PRESENTATION Projects in Process as of April 30, 2020 PROJECT NAME POWER OFF-TAKER LOCATION RATED CAPACITY (MW) ACTUAL COMMERCIAL OPERATION DATE PPA TERM (YEARS) Central CT State University ("CCSU") CCSU (CT University) New Britian, CT 1.4 FQ2'12 10 Medical Center UCI Medica
Slide 18: Market Opportunity – Generation, Equipment Sales & Service
FUELCELL ENERGY INVESTOR PRESENTATION FuelCell Energy Market Opportunity – Generation, Equipment Sales & Service Significant Potential to Expand Market Adoption Baseload is the largest segment of the U.S. electricity market U.S. Electricity Generation 4,076,675,000 Megawatt hours (MWh) U.S. Electric
Slide 19: Introduction to Carbon Capture Technology
FUELCELL ENERGY INVESTOR PRESENTATION Introduction to Carbon Capture Technology Disruptive Carbon Capture Technology Opening New Markets FuelCell Energy has a joint development agreement with ExxonMobil Research and Engineering to develop, and commercialize a carbon capture system which utilize the
Slide 20: Distributed Hydrogen Technology & Toyota Project
FUELCELL ENERGY INVESTOR PRESENTATION Distributed Hydrogen Technology & Toyota Project The SureSource Hydrogen fuel cell power plant is configured to produce additional hydrogen beyond what is needed for power production; generating a stream of hydrogen suitable for industrial or transportation ap
Slide 21: Relaunched Effort in Europe Including Sub-Megawatt Solutions
FUELCELL ENERGY INVESTOR PRESENTATION Relaunched Effort in Europe Including Sub - Megawatt Solutions 21 International Growth Opportunities Are Expanding, Including Large Sub - MW Applications Increasing European Distributed Power Generation Demand ▪ European SureSource solutions in Europe include me
Slide 22: GAAP to Non-GAAP Reconciliation
FUELCELL ENERGY INVESTOR PRESENTATION GAAP to Non - GAAP Reconciliation 22 (1) Includes depreciation and amortization on our Generation portfolio of $3.2 million and $6.4 million for the three and six months ended April 30, 2020, respectively, and $1.0 million and $2.0 million for the three and six