Silex Systems Limited · ASX:SLX
Silex Systems — Investor Presentation (June 2013)
40 slides from Silex Systems's investor presentation, May 30, 2013
Slide 1: Silex Systems Ltd Investor Presentation June 2013
For personal use only Silex Systems Ltd Investor Presentation June 2013 © Silex Systems Limited 2013
Slide 2: Forward Looking Statements
P2 Forward Looking Statements For personal use only Silex is a research and development Company whose assets include its proprietary rights in technologies, including but not limited to, the SILEX technology, Solar Systems technology, Translucent technology and ChronoLogic technology. Several of the
Slide 3: Disclaimer
P3 Disclaimer For personal use only Silex Systems Ltd (Silex) has prepared this presentation based on information available to it. The information in this presentation does not purport to be a complete description of Silex and/or its various business activities. Except as required by law, no represe
Slide 4: Corporate Overview
P4 Corporate Overview For personal use only Company description Silex Systems Limited (ASX: SLX) is a world leader in the As at 4 April 2013 research, development and commercialisation of leading edge technologies in key strategic markets, including: • nuclear power, • solar power, • semiconductor m
Slide 5: Businesses
P5 Businesses For personal use only Silex Solar Systems Translucent ChronoLogic Systems Third generation laser Utility Scale Unique rare-earth oxide Precision instrumentation uranium enrichment for Concentrating PV materials for products utilising the nuclear power power generation semiconductors an
Slide 6: Silex Investment Case
P6 Silex Investment Case: For personal use only SILEX uranium enrichment technology Solar Systems CPV technology Unique laser-based process – only 3rd generation Unique ‘Dense Array’ concentrating PV technology technology being commercialised in the world. Highest efficiency PV cells - current
Slide 7: Silex listing on US OTCQX
P7 Silex listing on US OTCQX (effective 3rd June 2013) For personal use only Silex Systems Limited ADR’s trade on the Benefits to US Investors: US OTCQX market as follows: ADRs give direct access to our listed equity capital base allowing participation in cross- border market liquidity. • Symbol:
Slide 8: OTCQX Market Overview
P8 OTCQX Market Overview: For personal use only Issuance Cancellation U.S. U.S. U.S. U.S. U.S. Investor Broker OTCQX Broker Investor -- Buy DRs - -- Sell DRs -- Issue DRs Cancel DRs The Bank of NY Mellon Buy Shares Sell Shares Confirm Instruction to Deposit Release Local Custodian Deposit Release Sh
Slide 9: SILEX Uranium Enrichment Technology
For personal use only Section 2 SILEX Uranium Enrichment Technology © Silex Systems Limited 2013
Slide 10: Uranium Enrichment
P10 Uranium Enrichment For personal use only Uranium Enrichment Basics • Uranium must be enriched to work as fuel in a nuclear reactor • Process to enrich U235 isotope from 0.7% (natural) to ~5% • Enrichment measured as a function of work performed by equipment – in Separative Work Units (SWU’s). •
Slide 11: Advantages of the SILEX technology
P11 Advantages of the SILEX technology For personal use only Advantages of SILEX Laser Enrichment • Breakthrough in efficiency - uses less energy • Smaller footprint than centrifuge and diffusion • Lowest capital costs of all enrichment technologies SILEX Technology • SILEX invented in Australia - t
Slide 12: Commercialisation and License Agreement
P12 Commercialisation and License Agreement For personal use only Exclusive Agreement • Exclusive worldwide commercialisation and license agreement for SILEX Uranium Enrichment Technology • Agreement originally signed with GE in 2006 51% 25% 24% • Commercialisation development fully funded by GLE Mi
Slide 13: GLE's Phased Approach to Commercialisation
P13 GLE’s Phased Approach to Commercialisation For personal use only Phase Objectives Status Phase I: Test Loop technology demonstration and NRC commercial plant license approval Completed Phase II: Economic and engineering validation for the initial commercial production module Commenced in 2012 Ph
Slide 14: GLE Commercial Facility - NRC Licence
P14 GLE Commercial Facility - NRC Licence For personal use only NRC Commercial Plant License - 25 September 2012 •Combined Construction and Operating License for the first proposed plant in Wilmington, NC. • US Nuclear Regulatory Commission (NRC) responsible for evaluating combined construction and
Slide 15: New Opportunity - Paducah Enrichment Plant
P15 New Opportunity - Paducah Enrichment Plant For personal use only Expression of Interest - Paducah, Kentucky - Commercial Plant Opportunity • GLE submitted an EOI to the US Department of Energy in February 2013 proposing construction of a SILEX laser enrichment plant in Paducah. • Cessation of op
Slide 16: Nuclear Energy in the United States
P16 Nuclear Energy in the United States For personal use only 104 nuclear reactors in 31 states Current Reactors • 104 nuclear reactors operating in 31 states • ~27% of global nuclear energy capacity is in the US • ~20% of electricity in the US is generated from nuclear energy • Nuclear energy is th
Slide 17: Nuclear Energy Worldwide
P17 Nuclear Energy Worldwide For personal use only Global Issues • Energy security and Climate Change are key concerns Key Statistics of Governments and Utilities around the world • Nuclear ‘renaissance’ to continue despite short-term 15 percent of global electricity impact of the Fukushima event
Slide 18: Key Market Drivers for Uranium Enrichment
P18 Key Market Drivers for Uranium Enrichment For personal use only Enrichment Price Forecasts - (Source: TradeTech 2013) Short Term Market Outlook – ‘Negative’ • Short term market (next 2 to 3 years) likely to remain depressed due to impact of Fukushima event • 50 operable Japanese reactors (>10% w
Slide 19: Solar Systems: CPV Dish Technology and Utility Scale Projects
For personal use only Section 3 Solar Systems: CPV Dish Technology and Utility Scale Projects © Silex Systems Limited 2013
Slide 20: Cutting-Edge Solar Technology – developed in Victoria, Australia
P20 Cutting-Edge Solar Technology – developed in Victoria, Australia For personal use only • Silex Systems acquired business assets and IP in March 2010 • Core technology (‘Dense Array’ converter) underwent major redesign – completed September 2012 • Manufacturing process modified, Melbourne product
Slide 21: Operational Facilities & Current Projects
P21 Operational Facilities & Current Projects For personal use only Installation Location Capacity Dishes Bridgewater VIC, Australia 600kW 16 Hermannsburg NT, Australia 190 kW 8 Yuendumu NT, Australia 240 kW 10 Lajamanu NT, Australia 290 kW 12 Windorah Qld, Australia 175 kW 5 Nofa* Tibrak, Saudi Ara
Slide 22: Technology Background
P22 Technology Background For personal use only Key Differentiating Characteristics • Utilises multi-junction cells originally from space/satellite industry • Current efficiency >40% (~ 2x efficiency of silicon cells, ~ 4x efficiency of thin film cells) with roadmap to >50% efficiency • Solar System
Slide 23: Product Commercialisation Plan – 2010 to 2015
P23 Product Commercialisation Plan – 2010 to 2015 For personal use only Phases & Funding Contributions Phase Objectives Status Phase 1: Product Commercialisation Program: Product release milestone: completed June 2012. Involved full re-design Completed and performance upgrade of the ‘Dense Array’
Slide 24: Current Development Pipeline
P24 Current Development Pipeline For personal use only Project Location Capacity Dishes Planning Construction Mildura (Stage 2) Victoria, Australia 100 MW ~ 2,500 Underway 2014 / 2015 QLD Queensland, Australia 10 to 50 MW Up to 1,250 Pre-feasibility TBA Nofa Tibrak, Saudi Arabia 1 MW 28 Completed 20
Slide 25: Levelised Cost of Energy (LCOE) Roadmap
P25 Levelised Cost of Energy (LCOE) Roadmap For personal use only Key Factors to Reduce Costs: • Multi-junction cell technology: higher efficiency (>50% target in 3 years) & lower cost • System efficiency: reduce losses & increase power output (eg increase concentration factor to 1000x) • Manufactur
Slide 26: Mildura Stage 1
P26 Mildura Stage 1 For personal use only Due for completion June 2013 • 1.5MW DC CPV grid connected power plant (40 dish system units) • Commissioning nearly completed - Official opening on 17 July 2013 © Silex Systems Limited 2013
Slide 27: Mildura Stage 2 – 100MW Solar Power Station
P27 Mildura Stage 2 – 100MW Solar Power Station For personal use only 2012 – 2013: Planning & Preparation Activities • Final design for Stage 2 modular CPV power arrays • Evaluation of connection point to nearby grid line • Preliminary partner discussions (financing, construction, grid connection an
Slide 28: Saudi Arabia – a key market for Solar Systems CPV
P28 Saudi Arabia – a key market for Solar Systems CPV For personal use only Nofa Resort Demonstration Facility – Saudi Arabia • Construction well advanced for 1MW (28 Dish units) demonstration facility • Expected completion in second half of CY 2013 Bridgewater Test and Demonstration Facility © Sile
Slide 29: Nofa Resort Demonstration Facility
P29 Nofa Resort Demonstration Facility For personal use only Construction progress as of May 2013 © Silex Systems Limited 2013
Slide 30: Key Developments in the Saudi Arabian Solar market
P30 Key Developments in the Saudi Arabian Solar market For personal use only • Kingdom of Saudi Arabia (KSA) currently consumes up to 2.5 million barrels of oil internally (~25% of annual total) for electricity production and water desalination – traded at a few dollars per barrel. • Lost oil revenu
Slide 31: CPV vs PV – Basic Comparison
P31 CPV vs PV – Basic Comparison For personal use only Bridgewater Hervey Bay CPV Facility Hospital PV System Peak Power (@ module) ~ 600kWDC ~ 270kWDC Total Area (system) 2,000m2 1,670m2 Total Module Area 4m2 1,670m2 Concentration 500 x (moving to >1000 x) 1x Power Density (@ module) ~ 150,000 W/m2
Slide 32: Translucent Advanced Materials Technology
For personal use only Section 4 Translucent Advanced Materials Technology © Silex Systems Limited 2013
Slide 33: Translucent Proprietary REO Substrate Applications
P33 Translucent Proprietary REO* Substrate Applications For personal use only Next generation CPV solar cells – targeting Translucent *REO substrates 50+% efficiency (via produced via patented *CVD & SiGeSn on silicon) *MBE epitaxial growth techniques Power electronics devices: inverters, rectifers
Slide 34: Rare Earth Oxide (REO) – Platform Technology
P34 Rare Earth Oxide (REO) – Platform Technology For personal use only Key Benefits • Several industries forced to use high-cost non- Total Accessible Market ~$1.3 billion silicon substrates (eg Germanium, Sapphire and Silicon Carbide) for high-end device applications $300m • Translucent’s innovativ
Slide 35: Commercialisation Plans
P35 Commercialisation Plans For personal use only CPV Solar Cells •Engagement continues with industry collaborators in USA, Europe and Asia •Initial solar cells structures grown and tested successfully with collaborators •Key product milestone – working multi-junction cell – expected in late 2013 •W
Slide 36: ChronoLogic Instrumentation Technology
For personal use only Section 5 ChronoLogic Instrumentation Technology © Silex Systems © Silex Limited Systems 2013 Limited 2013
Slide 37: ChronoLogic Business Update
P37 ChronoLogic Business Update For personal use only Strategic Review of Business Nearing Completion • Chronologic ready to be integrated into business of an established industry player. • Strategic review process has identified a top tier instrumentation company – confidential discussions continue
Slide 38: ChronoLogic Business Update
P38 ChronoLogic Business Update For personal use only Target Markets • Electronic Test & Measurement • Data Acquisition • Precision Timing Market Core IP • Core USB-inSync™ IP has spawned 16 patent families – expected to generate over 40 individual patents • 13 key patents so far granted in the USA,
Slide 39: Corporate Outlook
P39 Corporate Outlook For personal use only Sufficiently funded to execute commercialisation strategies Cash forecast ~$75 million by end of July 2013 Expected cash burn of ~$22 million in FY 14 Tightly focused independent business units with strong leadership All four technologies moving
Slide 40: Thank you
For personal use only Thank you © Silex Systems Limited 2013