Ceres Power Holdings Plc · LSE:CWR
Ceres Power — Shareholder Meeting (December 2019)
19 slides from Ceres Power's shareholder meeting presentation, Dec 4, 2019
Slide 1: Annual General Meeting Chief Executive's Update
Annual General Meeting Chief Executive’s Update Wednesday, 4 December 2019 Redhill, UK 0
Slide 2: High growth UK technology licensing company
• High growth UK technology licensing company with global world-class partners • World leading Solid Oxide fuel cell technology – Imperial College • Unique IP ~50 Patent families plus know how • 240+ highly skilled scientists and engineers based in UK • £71m cash and £28m order book and £50m pipelin
Slide 3: Fuel cell's role in energy transition
Fuel cell’s role in energy transition Air Quality Climate Change • Batteries & fuel cells key to • Path to Net Zero Zero emissions • Nat Gas to hydrogen • Pressure on charging infrastructure Balancing renewables Energy efficiency • Cheap renewable energy • Better than centralised disrupting centrali
Slide 4: Partnership progression
Partnership progression 1. Joint product development 2. Licence: system/manufacturing 3. Royalties from products sold Engineering services Fees for tech transfer Royalties per kW Power for the energy transition Ceres Power Ltd. © 2019 3
Slide 5: Over US$1bn invested by OEMs over the past 18 months
Over US$1bn invested by OEMs over the past 18 months August 2019 April 2019 June 2019 July 2019 September 2019 October 2019 $163.6m €50m license Hydrogenics 81% Linde invests Total investment IPO of Doosan investment in agreement with acquired for £38m into ITM of $230m in Fuel Cell on KSC Ballard P
Slide 6: A change of power
A CHANGE OF POWER We’re a fuel cell technology and engineering company bringing cleaner and cheaper energy to every home and business.
Slide 7: SteelCell product platforms
SteelCell® product platforms 1kW stack 1 kW class home system 5 & 10 kW Commercial and SteelCell® data centres 5kW stack 30-100s kW Hybrid EV buses Power generation Power for the energy transition Ceres Power Ltd. © 2019 6
Slide 8: SteelCell is the solution for distributed generation
SteelCell® is the solution for distributed generation PEM cell SOFC cell SteelCell Cost Efficiency Robustness Fuel flexibility Power for the energy transition Ceres Power Ltd. © 2019 7
Slide 9: Transition to a Hydrogen Future
Transition to a Hydrogen Future Real experimental data with OEM partner Power for the energy transition Ceres Power Ltd. © 2019 8
Slide 10: Zero carbon future, with significant cost savings
Zero carbon future, with significant cost savings Fuel Hydrogen Net Power 700W Net electrical efficiency >50% Zero emissions No CO2, SOx, NOx or PM 100 Simplification 80 Cost [%] 60 H2 40 20 SteelGen On Fuel Flex H2 SteelGen NG SteelGen Power for the energy transition Ceres Power Ltd. © 2019 9
Slide 11: Ceres partnerships in multiple applications globally
Ceres partnerships in multiple applications globally De-centralised Clean power Electric vehicles Power for datacentres Market size 1 ~100 GW >300 GW >50 GW Possible annual U$360m U$400m U$270m revenues for Ceres Rapidly growing • 1 kW residential to 10’s to 100 • Use as range extender for EVs in •
Slide 12: Ceres licensing business model
Ceres licensing business model 1 Ceres develops fuel cell technology that is licensed to OEMs and manufacturing partners Product Sales 2 Ceres receives payments through engineering services and up front license fees 3 Ceres secures future royalties on every system and stack that uses Ceres technolog
Slide 13: Commercial progress
Commercial progress • Strategic partnerships signed with Bosch and Weichai including equity investment and licensing agreements • First product launch with Japan’s Miura Co. using Ceres’ SteelCell® in a CHP system for commercial use • New system licence and JDA worth £8.0m over two years signed with
Slide 14: Commercial partners in every major FC market
Commercial partners in every major FC market Power for the energy transition Ceres Power Ltd. © 2019 13
Slide 15: Scaling the business
Scaling the business Potential cell and stack licensee Product applications in each region factories supplying multiple products in (system licenses) regions of greatest demand CHP Data HD LD Dist. Utility Marine, Centre Vehicle Vehicle Power Gen. Train Gen 0-5kW 5-20kW 20-200kW 200-1000kW 1MW+ Exis
Slide 16: Manufacturing: First global reference plant
Manufacturing: First global reference plant • SteelCell® produced in small volumes proves scalability, facilitates new partnerships • £8m investment, ~60 skilled jobs. Phase 1 launch 2020 at 2MW annual capacity • Will provide near term capacity for customers and act as “blueprint facility” for techn
Slide 17: UK manufacturing enables global licensees
UK manufacturing enables global licensees Annual capacity equivalent in units: R&D Scale Horsham 2018 2019 2020 2021 HOME WORK CLOUD ROAD UK Technical Centre develops next generation V5, V6 & V7 SteelCell® 1kW 10kW Datacentres 30kW CP2 Reference plant Phase 1 2 MW 2,000 200 - 60 Phase 2 3 to 10
Slide 18: Summary and outlook
Summary and outlook • Building blocks in place to enable global adoption by the world’s largest engineering companies • Commercial launch with Miura in Japan (Q4 2019) • CP2 on track for first production (Jan 2020) • Bosch: Collaboration to establish pilot manufacture in Bamberg Germany • Weichai: F
Slide 19: Disclaimer
Disclaimer The contents of this presentation have not been approved by an authorised person within the meaning of Section 21 of the Financial Services and Markets Act 2000 (as amended) ("FSMA"). Reliance on the contents of this presentation for the purpose of engaging in any investment activity may
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