Ocean Sun As · OSL:OSUN
Ocean Sun As — Q4 2020 Earnings Presentation
32 slides from Ocean Sun As's earnings presentation, Feb 10, 2021
Slide 1: Ocean Sun Quarterly Presentation Q4 2020
OCEAN SUN A BOLD SOLUTION TO OUR GLOBAL ENERGY NEEDS QUARTERLY PRESENTATION Q4 2020 10.02.2021
Slide 2: Content
Content Highlights Brief overview of Ocean Sun Operations and business developments Financials Appendix
Slide 3: Highlights
Highlights Euronext Growth Performance Digital Europe Fred Olsen Significant IPO scientifically Future unicorn Offshore PV market pull approved finalist EC funded
Slide 4: Vision: world leading technology provider to floating PV systems
V I S I O N WORLD LEADING TECHNOLOGY PROVIDER TO FLOATING PV SYSTEMS
Slide 5: Brief overview of Ocean Sun
Brief overview of Ocean Sun OCEAN SUN - CONFIDENTIAL
Slide 6: Ocean Sun - Investment highlights
Ocean Sun - Investment highlights Scalable & asset Fast-growing Unique technology Extensive Experienced & 1 2 3 4 light business 5 market for Floating PV project pipeline1 committed team model Note: 1) “Pipeline” means potential projects where the Group is in discussions with possible customers, but
Slide 7: Why the need for floating solar and Ocean Sun's solution?
Why the need for floating solar and Ocean Sun’s solution? Need Solution As the world is electrifying there is an increasing Solar power is the most promising of all renweable demand for, and dependency on electricity, which share energy sources and global installed capacity has of the total ener
Slide 8: Ocean Sun in brief
Ocean Sun in brief Est. 2016 Patented «OSUN» Euronext Growth 5 Demos Oslo (HQ) 100 MNOK acq. China and Singapore for further growth
Slide 9: Ocean Sun is the world leading technology provider to floating PV systems
Ocean Sun is the world leading technology provider to floating PV systems The technology System components Ocean Sun’s core innovation, a floating power system with solar panels mounted on a thin hydroelastic membrane, offers a unique solution to the world’s energy needs. Our technology offers renew
Slide 10: Unique features vs. conventional FPV systems
UNIQUE Ocean FEATURES Sun’s VS. CONVENTIONAL combined value FPV best floating PV proposition is the worlds SYSTEMS system Ocean Sun’s Floating PV solution Conventional Floating PV systems versus Standard PV panels tailored for installation on Standard PV panels installed on metal frames on membrane
Slide 11: Past installations have proven the technology's durability, performance and ease of installation
Past installations have proven the technology’s durability, performance and ease of installation Magat Osterøy Johor Straits • June 2019 April 2017 • March 2018 • Magat dam, Philipines Bergen, Norway • Palau Ubin, Singapore • 50 m diameter 50 m diameter • 12 PV panels • 221 kWp installed effect • SN
Slide 12: Exponential growth forecast and limitless market potential
Exponential growth forecast and limitless market potential Annual FPV installations1 (MWp) Capacity vs. market potential (GWp) 7600 Forecast 2 781 NREL has identified 7.6 Terawatts of FPV market potential, or equivalent to ~50% of the 2 198 worldwide electricity demand in 20183 1 738 Reservoirs repr
Slide 13: Ocean Sun is a technology provider with a license fee per Wp installed
Ocean Sun is a technology provider and offers detailed design and the right to use its technology in exchange for a license fee per Wp installed 3 Customers 1 2 Component System End EPC EPC Developer Providers Design Customer Examples component providers: Examples EPC: Examples developers: Examples
Slide 14: Current pipeline is extensive despite limited marketing
Current pipeline is extensive despite limited marketing 100+ NDAs 65+ leads 30+ preliminary designs* 5+ contract stage *Inc. PV syst, Location mapping, Site evaluation and energy generation
Slide 15: Operations and business developments
Operations and business developments OCEAN SUN - CONFIDENTIAL
Slide 16: Listing on Euronext Growth
Listing on Euronext Growth Highlights In October, Ocean Sun successfully closed a private placement of NOK 100 million. The private placement was followed by a listing on Euronext Growth with a listing price of NOK 18kr per share and first day of trading on the 26th of October 2020. By the end of th
Slide 17: Offshore floating solar power in the Atlantic Ocean
Offshore floating solar power in the Atlantic Ocean Project details On the 18th of January Ocean Sun announced that it will test its floating solar solution in offshore conditions outside the Canary Islands. The test- unit will be built under a Horizon 2020 project where Ocean Sun is part of a conso
Slide 18: Statkraft installation, 2 MWp at Banja HPP
Statkraft installation, 2 MWp at Banja HPP Project update Ocean Sun has been contracted by Statkraft to build a 2MWp full scale demonstrator system on the Banja reservoir in Albania. The project consists of in total four 0.5 MWp floaters and will be delivered in two phases of 0.5 MWp and 1.5 MWp res
Slide 19: Saemangeum, South Korea
Saemangeum, South Korea Project update The Seamangeum Seawall project in South Korea has a total scope of 2.1 GWp and is as such expected to be the largest floating solar project in the world. It will be built in brackish water at an exposed location with relatively large waves and strong winds. As
Slide 20: Magat dam pilot with Scatec owned SN-Aboitiz Power
Magat dam pilot with Scatec owned SN-Aboitiz Power (SNAP) Project update In June 2019 Ocean Sun commissioned a 220 kWp pilot system for SN- Aboitiz Power (SNAP) on the Magat Dam. SNAP is a joint venture between SN Power (now Scatec) and local energy producer Aboitiz Power. After being operative for
Slide 21: Ocean Sun's project pipeline
Ocean Sun’s project pipeline Region overview Leads per region EMA – Covered by Oslo office Main focus on Europe with several large Norwegian and European leads with a global footprint Few current FPV installations in Europe, large interest in southern part 32% SE Asia + Oceania – Covered by Sing
Slide 22: Nenad Keseric joins Ocean Sun as Chief Operating Officer
Nenad Keseric joins Ocean Sun as Chief Operating Officer (COO) About Nenad PhD degree in Energy Economics from Vienna University of Technology (TU Wien) 15 years experience in the energy industry Operations manager of onshore wind and the Hywind- world’s first floating wind turbine in Equinor
Slide 23: Other developments
Developments Other developments As previously communicated Ocean Sun’s patents are already approved in countries such as the US, UK and Norway. It has now also been accepted in Chile and by the Eurasian Patent organization. Ocean Sun has hired Dr. Nenad Keseric as its new Chief Operating Officer (CO
Slide 24: Outlook and priorities
Outlook and priorities 1.08 Protect & Continuous Global Partnerships Large customers Revenue from 35 Maintain IP Development license & partnerships
Slide 25: Financials
Financials Profit and loss Balance sheet Cash flow Equity statement OCEAN SUN - CONFIDENTIAL
Slide 26: Income statement
Income statement Income Statement Comments to income statement Unaudited Unaudited 01.10 – Total revenue amounted to NOK 1.5 million in Q4 and NOK 6.1 NOK'000 31.12.2020 2020 2019 million in the full year 2020, of which NOK 5 million related to R&D Sales 428 1 146 1 917 contribution from Innovation
Slide 27: Balance sheet
Balance sheet Balance sheet Comments to balance sheet per 31.12.2020 Unaudited NOK'000 31.12.2020 31.12.2019 Following the successful private placement of NOK 100 million Assets in October, cash and cash equivalents amounted to ~95 million Office equipment 56 36 as per 31.12.2020, of which NOK0.7 mi
Slide 28: Cash flow statement
Cash flow statement Cash flow statement Cash development 01.10 - 31.12.2020 Unaudited Unaudited 01.10 - 01.01 - 01.01 - Cash flow from operations amounted to ~-8.5 NOK'000 31.12.2020 31.12.2020 31.12.2019 million NOK in Q4’20, primarily as a result of Net income (3 704) (10 594) (11 034) negative ne
Slide 29: Equity Statement
Equity Statement Changes in equity (Unaudited) Share Share Other Retained NOK'000 capital premium Equity Earnings Total At 1st of January 2020 384 32 403 (6) (17 783) 14 998 Profit/Loss for the period - - - (10 594) (10 594) Share capital increase 66 101 950 - - 102 017 Costs for capital increase -
Slide 30: Appendix
Appendix Share information OCEAN SUN - CONFIDENTIAL
Slide 31: Share information
Share information About the Share Financial calendar Ocean Sun is since 26th of October 2020 listed on Event Date Euronext Growth Oslo under the ticker OSUN. The listing price for Ocean Sun was NOK 18 kr per Annual report 2020 07.04.2021 share and the price as of 31 December 2020 was Q1 report 11.05
Slide 32: Ocean Sun: CEO Børge Bjørneklett
Ocean Sun: CEO Børge Bjørneklett bb@oceansun.no