Emerald Horizon Ag · VIE:SMRX
Emerald Horizon — Investor Presentation (August 2026)
35 slides from Emerald Horizon's investor presentation, August 2026
Slide 1: The Future of Clean Power
THE FUTURE OF CLEAN POWER SAFE BY DESIGN. BUILT TO SCALE. SMR SUBCRITICAL MICROMODULAR REACTOR ENERGY STORAGE & ENERGY GENERATION ENERGY PRODUCTION CONFIDENTIAL
Slide 2: The Company in One Page
THE COMPANY IN ONE PAGE Two products. One platform. A policy tailwind. WHO WE ARE COMPANY & AMBITION Emerald Horizon AG A 10-year master plan to industrial-scale clean power Deep-tech scale-up building the platform behind Europe's Founded 2019, Emerald Horizon develops both an advanced modular, ship
Slide 3: Solving Problems with High Impact Potential
SOLVING PROBLEMS WITH HIGH IMPACT POTENTIAL RISK RISK Problem-Risk-Need- Critical chain reaction Volatile renewables Analysis Transuranic nuclear Or: Pollution & waste ocean acidification No critical chain reaction <1 g CO₂/kWh in operation Pressure-free by design 24/7 baseload — independent of weat
Slide 4: SMRX - Subcritical Micromodular Reactor
SMRX - SUBCRITICAL MICROMODULAR REACTOR ONE SYSTEM – CONTAINER SIZE - MODULAR & SCALABLE E-store CALstore Phase 1 DUALstorePLUS Battery Storage (BESS) Heat Storage (TESS) 5 MWh LFP battery per module. ≥8,000 cycles 5 MWh molten salt per module. 200–550°C NON-Nuclear Hybrid energy Storage System · Mo
Slide 5: Political Tailwind
POLITICAL TAILWIND THE EU JUST MADE STORAGE & SMRS ITS OFFICIAL ENERGY POLICY The macro thesis has now become official EU policy. The question for investors is no longer “Is this the right direction?” It is: “Who is best positioned to deliver it?” Significantly increases the probability of success N
Slide 6: VDL Groep
VDL GROEP INDUSTRIALIZATION PARTNER & KEY DE-RISKING ELEMENT CO-DEVELOPMENT & MANUFACTURING CONFIRMED €4.06bn 100+ 22 €190M 5-month due diligence | 30 Apr 2025 Annual Turnover Companies Countries R&D / year PROOF What VDL delivers for Emerald Horizon VDL: 13,500+ people -Precision engineering, syste
Slide 7: Listing Milestone
LISTING MILESTONE ON THE VIENNA STOCK EXCHANGE SINCE JUNE 26TH 2026 Ticker: SMRX (Vienna Stock Exchange) ISIN AT0000A3UZE1 Company: Emerald Horizon AG Group Structure: 3 subsidiaries (USA, Slovakia, EaaS spv) and 2 equity participations Capital Markets Advisor: Wiener Privatbank AG Corporate Brokera
Slide 8: DUALstorePLUS
DUALstorePLUS ENERGY STORAGE CONFIDENTIAL
Slide 9: DUALstorePLUS: Modular to MWh
DUALstorePLUS MODULAR 5 TO 100 MWh Hybrid storage combining heat (TESS) & electricity (BESS). Inputs: Stand-alone product today – integral building block for the Thorium Generator (ADES) tomorrow. ORDER NOW – DELIVERY SOON Configurable to client-needs : 0–10 modules per TESS or BESS + 1 MCU – AI Con
Slide 10: DUALstorePLUS How It Works
DUALstorePLUS HOW IT WORKS DUAL input DUAL output 10
Slide 11: CALstore (TESS)
CALstore (TESS) MOLTEN SALT HEAT STORAGE – REAL HARDWARE PROTOTYPE CELL 1 Cell -> 1 Container -> Serial Production @ VDL READY & VALIDATED Government-funded (FFG) – Ongoing audits 5 MWh molten salt heat storage – stand-alone & integral building block for ADES. Stand-alone product + Part of DUALstore
Slide 12: ADES & DUALstorePLUS
SMR ADES & DUALstorePLUS and ENERGY PRODUCTION INCL. STORAGE CONFIDENTIAL
Slide 13: What is ADES?
WHAT IS ADES? ACCELERATOR DRIVEN ENERGY SOURCE The Concept: Thorium + Particle Accelerator + X-Amplifier → CO₂-free energy Why Thorium? • 3x more abundant than uranium Pioneer: Carlo Rubbia • 300-400x more abundant than U-235 Nobel Prize in Physics 1984, CERN Director Pioneer of the Energy Amplifier
Slide 14: ADES Technology, Modularity & Operation
ADES TECHNOLOGY, MODULARITY & OPERATION FUSION of 5 Core Components 1 ADES ~ 25 MW Injector (Accelerator) Generates protons/ neutrons to initiate and control the thorium reaction (thermal) · ~10 MW electric · 20-year lifetime X-Amplifier Box Amplifies the neutron flux from the accelerator Scalable:
Slide 15: ADES Fact Summary
ADES ACCELERATOR DRIVEN ENERGY SOURCE – FACT SUMMARY The scalable and risk-optimized solution for CO₂-free energy READY FOR ON/OFF switch ORDER Output: • ADES features a passive-safe ON/OFF control unit. EST. 2031 High-temperature heat AI-powered optimization To generate: • ADES leverages AI to adju
Slide 16: SMRX Is Addressing One of the World's Largest Markets
SMRX IS ADDRESSING ONE OF THE WORLD'S LARGEST MARKETS EXPANDING BEYOND CONVENTIONAL SMR APPLICATIONS Positioned in the 10 MW sweet spot — one of the largest addressable energy markets in the world (TAM). 1 ADES = 10 MW(el) for 10,000 Hydrogen AI & Data Critical Infrastructure Enhances Wind Upgrade E
Slide 17: SMRX in Action
SMRX IN ACTION ILLUSTRATIVE X-CONFIGURATION OF THE MODULAR SYSTEM
Slide 18: Accelerator Energy — Building the Future of Clean Power
CONFIDENTIAL Emerald LaboraTHorium Karl-Huber-Gasse 15 A-8041 Graz www.emerald-horizon.com ACCELERATOR ENERGY — BUILDING THE FUTURE OF CLEAN POWER This material is provided for informational purposes only and does not constitute an offer or solicitation to buy or sell securities in the United States
Slide 19: Appendix: De-Risking
emerald horizon £4 Energy. Everywhere. “ b/] APPENDIX DE-RISKING
Slide 20: De-Risking Overview
APPENDIX DE-RISKING OVERVIEW READ THIS APPENDIX AS A MAP Five material risks. Five de-risking responses. The following pages show the evidence. 01 RISK THE RISK HOW EMERALD IS DE-RISKING IT EVIDENCE State it openly PRE-REVENUE DUALstorePLUS EARNS FIRST TIMING & 01 FY25 revenue: €0.2m. Group breakeve
Slide 21: Interest Confirmation: NDA Engagement Landscape
INTEREST CONFIRMATION THE NDA ENGAGEMENT LANDSCAPE 150+ MUTUALLY EXECUTED NDAs — BEYOND INVESTOR INTEREST Three distinct engagement pathways confirm institutional interest. WHAT EACH ENGAGEMENT TYPE PROVES INVESTMENT INTEREST 40% Holdings · Funds · Family Offices · Finance · International · Alt Inve
Slide 22: Team De-Risking
TEAM DE-RISKING BRAINS BEHIND EMERALD HORIZON EXECUTIVE TEAM Leaders with experience at the World Bank, the IMF, the ECB, the Austrian National Bank and in the Austrian federal government. CEO Florian Wagner Prof. Dr. Robert Holzmann Ing. Norbert Hofer, MBA DI Dr. Mario J. Müller MMag. Philipp Pölzl
Slide 23: Financial De-Risking: We Don't Need Billions in Equity
FINANCIAL DE-RISKING WE DON’T NEED BILLIONS IN EQUITY Conventional Plant Risk €6,900M Eliminated 1 GW Plant → Container-Size Modules No large power plant construction risk. Modular container units eliminate megaproject cost overruns. Grid €3,086M Infrastructure Avoided Distributed Grid → No Grid Inf
Slide 24: Several Potential Funding Pathways
FINANCIAL DE-RISKING SEVERAL POTENTIAL FUNDING PATHWAYS €75M SMRX – ADES prototype cost assumption 1 Commitment from CEO Florian Wagner (Carl Page, Philipp Pölzl, ..) €50M for prototype €5M initial investment + €20M follow-on investment = €25M total (EQS News ID: 2356964) development (TRL4.5->6) & €
Slide 25: Regulatory De-Risking
REGULATORY DE-RISKING NON-CRITICAL PATHWAY DUAL IDEAL WITH FLEET REGULATION 1. NON-Nuclear 2. Nuclear Adjacent Strategy Significant risk 3× Regulatory Friendly 3× Regulatory Friendly 3× Regulatory Friendly reduction Technical Facts Countries Expert Teams ▼ ▼ ▼ Not like normal DUALstorePLUS No critic
Slide 26: Technical De-Risking
TECHNICAL DE-RISKING FROM GW VISION TO PROVEN PHYSICS How to get Gigawatt WHY THIS WORKS LEVEL 1 – PARTICLE ACCELERATOR power The Neutron Source Proven Core Technology Compact accelerators are proven neutron sources in medical applications and beyond. TRL9 refers to TRL 9 accelerator technology is a
Slide 27: Progress De-Risking
PROGRESS DE-RISKING FROM IDEA TO SERIAL PRODUCTION – X SCALING NOW From Zero to Trillions Idea R&D Simulation R&D Hardware Business Plan Phase 1 product Phase 2 product Needs analysis Med Tech (AD–BNCT) & Team Concept Container design for energy Construction of the Completion of prototype Transition
Slide 28: ADES Prototype Setup
ADES PROTOTYPE SETUP CO-DEVELOPMENT - SERIAL PRODUCT TRL 9 PUMP TIER-1 execution partner CONTAINMENT: HTHX Co-Development isolation, shielding to achieve TRL 9 THORIUM – MOLTEN SALT – LOOP Manufacturing INJECTOR Supply Chain (Accelerator) A HTHX X-AMPLIFIER BOX Reality check: All prototype component
Slide 29: Timing De-Risking Readiness
TIMING DE-RISKING READINESS READINESS VALUATION TRIGGERS Readiness scorecards (current) Milestone de-risking: readiness scorecards translate technical, regulatory, and commercial progress into valuation step-ups. Timeline and near-term milestone triggers 2026 2027 2028+ DUALstore PLUS readiness (E-s
Slide 30: DUALstorePLUS Technical Readiness
DUALstorePLUS TECHNICAL READINESS – MILESTONES ACHIEVED - REMAINING PART TO TRL 9 1-9 E-store (BESS) - stand-alone or DUALstorePLUS 10-18 CALstore (TES) - stand-alone or DUALstorePLUS 19-27 MCU (Master Control Unit) DUALstorePLUS 1 Basic validated foundation DUALstorePLUS - READINESS DETAILS - 2700
Slide 31: ADES Technical Readiness
ADES TECHNICAL READINESS – MILESTONES ACHIEVED - REMAINING PART TO TRL 9 1-9 Structures (non-NUC) & Heat Transfer Loop 10-18 Accelerator (ACC) + Plasma + Targets 19-27 Nuclear Energy Release & Energy Transfer-Salt Loop 1 Basic validated foundation ADES - READINESS DETAILS - 2700 TARGET 2 Concept def
Slide 32: ADES Physics Proof Chain
ADES PHYSICS PROOF CHAIN EVERY COMPONENT IS VALIDATED The physics underlying ADES is validated. The challenge is system integration and scaling – that’s what VDL Groep delivers. 5 Components 5 Validations Neutron Production via Accelerator ✓ CERN: Accelerator R&D for European ADS Demonstrator 1 High
Slide 33: ADES Energy Equation
ADES ENERGY EQUATION TRANSMUTING & HARVESTING Physics-Based Validation Stable flux is designed to be achieved using accelerator-based neutron sources, with two complementary solutions planned to reduce technology risk. For further details see capture Th-232 Investment Proposal fission U-233 33
Slide 34: Income De-Risking - X-Multiplier
INCOME DE-RISKING - X-MULTIPLIER ATTRACTIVE & PREDICTABLE PRICE FOR CLIENTS AND CLEAR PROFIT FOR INVESTORS Flex margin Any overrun of our own costs is buffered. Creating negotiation power on prices and terms X Multiplication Profits multiply over time Modules × Annual Profit × Years Transforms Emera
Slide 35: SMR
CONFIDENTIAL Emerald LaboraTHorium Karl-Huber-Gasse 15 A-8041 Graz www.emerald-horizon.com SMRSUBCRITICAL MICROMODULAR REACTOR ENERGY STORAGE & ENERGY GENERATION . This material is provided for informational purposes only and does not constitute an offer or solicitation to buy or sell securities in
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