Slide 1: 2016 Interim Results Presentation
2016 Interim Results Presentation Scott McGregor, Chief Executive Officer Scott Laird, Finance Director 28th September 2016
Slide 2: H1 2016 Highlights
H1 2016 Highlights • Market seeding programme nearing completion – machines deployed in key markets • Testing programme for redT large-scale energy storage machines completed at PNDC • First in world: large-scale, contract manufactured, containerised, vanadium flow machines deployed • Commenced join
Slide 3: Market Seeding Program
Market Seeding Program UK Isle of Gigha 40kWh Development 1.68 MWh Centre Wind + Grid constraint 40kWh Dairy PV + Grid 40kWh Utility trial EU 40kWh*2 Industrial Ireland 40kWh Building PV Africa 40kWh*2 weak-grid Johannesburg 15-75kWh Hospitality PV + Diesel + Weak grid
Slide 4: Sustainable Equity Value
Sustainable Equity Value Sustain Scale Firm Functional Gen 3 performing Price team Prove Gen 2 sales Market Seeding Differentiating programme IP (leading tech), complete Orderbook product, service. across defined products USP Credibility Gen 1 design Case-studies Gen 2 system Ambassadors delivered S
Slide 5: redT Product Range
redT Product Range Power (kW) Continuous Discharge at Product Capacity (kWh) Dimensions Rated Power (Hrs)ᶧ Rated Peak* redT 5-20 5 10 20 4 6ft ISO redT 5-40 5 10 40 8 8ft ISO redT 5-75 5 10 75 15 redT 10-75 10 20 75 7.5 redT 15-75 15 30 75 5 10ft ISO HC redT 10-150 10 20 150 15 redT 20-150 20 40 150
Slide 6: Strategic developments
Strategic developments Secured • Tier 1 manufacturing long term partnership • Strong balance sheet for production working capital • Quality manufacturing ISO, QMS, UL • Capacity scaling for large orders, GW capacity • 90 manufacturing sites globally for low cost and short lead time • 10 year lease f
Slide 7: Market Opportunity
Market Opportunity On-grid energy storage market currently estimated to be worth $100-$150bn (larger than all other batteries applications put together*) • Small grid tied renewables • Large grid tied renewables • Distributed generation • Grid utility • Key markets EU, USA, China, Japan • Grid-tied
Slide 8: H1 2016 Financials
H1 2016 Financials redi
Slide 9: H1 2016 Financial Highlights
H1 2016 Financial Highlights • Loss for H1 2016 €2.7m (H1 2015: profit €0.1m) • Revenue for the period €4.5m (H1 2015: €6.4m) • Cash held €5.5m (FY 2015: €2.9m) • Loans and borrowings €Nil
Slide 10: Income Statement
Income Statement Consolidated statement of comprehensive income For the period ended 30 June 2016 Restated H1 2016 H1 2015 FY 2015 €'000 €'000 €'000 Continuing operations Revenue 4,533 6,442 11,106 Cost of sales (3,374) (3,090) (6,267) Gross profit 1,159 3,352 4,839 Administrative expenses (3,436) (
Slide 11: Balance Sheet
Balance Sheet Consolidated statement of financial position At 30 June 2016 H1 2016 H1 2015 FY 2015 H1 2016 H1 2015 FY 2015 €'000 €'000 €'000 €'000 €'000 €'000 Non-current assets Equity attributable to equity holders of the parent Property, plant and equipment 95 17,523 101 Share capital 4,617 2,531
Slide 12: Cash Flow
Cash Flow Consolidated statement of cash flow For the period ended 30 June 2016 H1 2016 H1 2015 FY 2015 H1 2016 H1 2015 FY 2015 €'000 €'000 €'000 €'000 €'000 €'000 Cash flows from operating activities Cash flows from investing activities (Loss)/profit for the year (2,734) (278) 670 Proceeds from dis
Slide 13: Segmental Analysis
Segmental Analysis Operating segments For the period ended 30 June 2016 Camco clean energy redT energy storage Consolidated Africa US Other Restated Restated Restated Restated Restated H1 2016 H1 2015 H1 2016 H1 2015 H1 2016 H1 2015 H1 2016 H1 2015 H1 2016 H1 2015 €’000 €’000 €’000 €’000 €’000 €’000
Slide 14: Commentary
Commentary The H1 2016 financial results are a reflection of the changes made to the structure of the business in 2015 incorporating; REDH roll-in; Disposal of US biogas assets; Strategic re-focus of Africa clean energy business redT energy storage Newly combined segment fully aligned and focussed
Slide 15: Business Outlook
Business Outlook “The Company is now nearing completion of the Generation One market seeding phase. Having taken invaluable learnings from the deployment and commissioning process, we are now entering the full-scale manufacture phase for our Generation Two product. After years of development and con
Slide 16: Appendix
Appendix redi
Slide 17: redT energy storage
redT energy storage • Vanadium-based energy storage machines, public company (RED:L) • 15 years of development, now proven technology in the field • Commercial and Industrial application focus • Tier-1 volume manufacturing capability
Slide 18: Liquid Energy Storage
Liquid Energy Storage • Conventional batteries have fixed power and energy locked together in the cell – redT systems are modular and decouple power from energy – sized to your exact needs • Flow batteries use liquid electrolyte contained outside the cell and pumped through it – like a car engine an
Slide 19: The Energy Storage Market
The Energy Storage Market Power Mature 1 GW Deployment Demonstration Grid Storage 100 MW Lithium- Ion Grid Pumped-hydro/CAES Balancing T&D Upgrade 10 MW Ancillary Services Deferral Frequency response Congestion Relief STOR Avoided Curtailment Lead- Acid 1 MW Duration Commercial RE Peak Shaving Effic
Slide 20: Applications
Applications Renewables Use redT energy storage with renewables to maximise your utilisation through time- shifting, remove constraints on existing renewable generation or gain full autonomy from the grid Grid Services redT energy storage machines are capable of performing grid services at both tran
Slide 21: redT Advantage
redT Advantage 100% Depth of Discharge ( erates Long Lifespan Modular & Scalable ‘sh Low Levelised Cost of Storage Safe Cf ) Environmentally Friendly : tt Ll Remote Monitoring -@; Low Maintenance dT re energy storage