Itm Power Plc · LSE:ITM
Itm Power — Shareholder Meeting (September 2014)
19 slides from Itm Power's shareholder meeting presentation, Sep 10, 2014
Slide 1: AGM Presentation: 10th Sept 2014, London
AGM PRESENTATION: 10 TH SEPT 2014 | LONDON
Slide 2: Contents
AGM PRESENTATION: 10 TH SEPT 2014 | LONDON Contents: • Introduction • Products • Projects • Key Performance Indicators
Slide 3: Rapid Response Electrolyser
RAPID RESPONSE ELECTROLYSER Scalable | Rapid Response | Self pressurising Wind Power Energy Storage ITM Electrolyser Grid Clean Fuel RAPID RESPONSE HYDROGEN ENERGY SYSTEMS
Slide 4: Reference Plant | Germany | UK | USA
REFERENCE PLANT | GERMANY | UK | USA A major barrier to entry has been overcome • NRE has been invested • Products have been standardised • Compliance in UK | EU | USA • Power-to-Gas and Refuelling Stations REFERENCE PLANT HYDROGEN ENERGY SYSTEMS
Slide 5: FCH JU 2: 2014
FCH JU 2: 2014 FCH budget €1.4bn, managed by the New Energy World • Development: 100% of the total eligible cost • Demonstrations: 70% maximum will apply for profit making entities EcoIsland (TSB) HyFive (EU) P1: Transport P2: Energy FCH JU2 1x80kg | 1x15kg 3x80kg 2014: €40m 2014: €40m €1.4bn £1.5m
Slide 6: UK Refuelling Stations
UK REFUELLING STATIONS Development of a UK Infrastructure Business • Grant funded Capex and Opex • Maintenance contract with each award • OLEV £10m call at the end of Sept | OLEV £60m call in early 2015 EcoIsland (TSB) HyFive (EU) OLEV £10m Call H2Mobility H2Mobility 1x80kg | 1x15kg 3x80kg 6x80kg 65
Slide 7: California Refuelling Stations
CALIFORNIA REFUELLING STATIONS California Hydrogen Infrastructure Deployment • Fund of $200m for 100 hydrogen stations with up to $20m a year for 10yrs • 2012: ITM Power Inc. established in California • 2013: ITM Power Inc. wins H2 station award with 2 North American partners at Hyundai, Chino • 201
Slide 8: 1.3GW Energy Storage Mandate in California
1.3GW ENERGY STORAGE MANDATE IN CALIFORNIA CPUC Sets the energy storage mandate for the power sector • Energy storage target of 1,325 megawatts • 3 major CA utilities by 2020 • Optimization of the grid, including peak reduction • Integration of renewable energy • Reduction of GHG emissions to 80% be
Slide 9: Key Performance Indicators
KEY PERFORMANCE INDICATORS (* ’) ITM POWER Energy Storage | Clean Fuel
Slide 10: Key Performance Indicators
KEY PERFORMANCE INDICATORS Clear measures of business performance • Technology KPI 1 • Cumulative test hours • Technology KPI 2 • Cumulative installed capacity • Commercial KPI 3 • Product sales • Commercial KPI 4 • Project income • Commercial KPI 5 • Projects under contract • Financial KPI 6 • Head
Slide 11: KPI 1: Cumulative Test Hours
KPI 1: CUMULATIVE TEST HOURS Cumulative test hours • Test stands fully automated & data logged • Qualifying performance of key cell & stack components • Developing predictive tools KPI 1: CUMULATIVE TEST HOURS ENERGY STORAGE | CLEAN FUEL
Slide 12: KPI 2: Installed Capacity
KPI 2: INSTALLED CAPACITY Cumulative capacity • Tracks the technology deployment • Tracks available reference plant • Installed capacity is a key metric in tender documents KPI 2: INSTALLED CAPACITY HYDROGEN ENERGY SYSTEMS
Slide 13: KPI 3: Product Sales & Project Income
KPI 3: PRODUCT SALES & PROJECT INCOME Customers are often confidential; we announce when possible. Order book needs strong balance sheet For year ending April 30th 2012 • £1.46m total inflow £3,500,000 • £0.48m product sales • £0.98m grant funding £3,000,000 £2,500,000 For year ending April 30th 201
Slide 14: KPI 4: Project Income
KPI 4: PROJECT INCOME Customers are often confidential; we announce when possible. Order book needs strong balance sheet For year ending April 30th 2012 Collaborative Project Funding • £1.46m total inflow • £0.48m product sales £4,000,000 • £0.98m grant funding £3,500,000 For year ending April 30th
Slide 15: KPI 5: Projects Under Contract
KPI 5: PROJECTS UNDER CONTRACT Pipeline of projects is rapidly growing • £9.56m of projects under contract or in the final stages of negotiation • £6.55m of projects under contract • £3.01m of contracts in final negotiation Contract Project To be paid Project Type User • Rapidly growing pipeline Eco
Slide 16: KPI 6: Head Count | Staff Costs
KPI 6: HEAD COUNT | STAFF COSTS Staff and Country Reps | £4m pa • Headcount has only increased by <10% despite a 100% increased grant take and revenue • £1.2m of costs (labour and overhead) funded by grants • Increase in staff in production and field engineer teams – service delivery Staff costs per
Slide 17: Awareness
AWARENESS National and International Coverage • Radio 4: Costing the Earth • Guardian: Power-to-Gas energy storage • Royal Academy of Engineering presentation • Platts on Power-to-Gas energy storage Source: Thuega AWARENESS HYDROGEN ENERGY SYSTEMS
Slide 18: Shareholder Register
SHAREHOLDER REGISTER 60 From individuals to institutions 50 Sept 2013 to Dec 2013: • Transition from individuals to institutions 40 Dec 2013 to Mar 2014: • £10m institutional funding round Sep-13 30 Mar 2014 to June 2014: Dec-13 Mar-14 • Relative stability Jun-14 20 10 0 4. Market 1. Director 2. Fou
Slide 19: AGM Presentation: 10th Sept 2014, London
AGM PRESENTATION: 10 TH SEPT 2014 | LONDON