Slide 1: ITM Power Plc Company Presentation June 2015
ITM POWER PLC: (LSE: ITM.L) JUNE 2015 | COMPANY PRESENTATION
Slide 2: Contents
ITM POWER PLC: (LSE: ITM.L) JUNE 2015 | COMPANY PRESENTATION Contents: • Introduction • Production • Projects: Power-to-Gas Energy Storage • Projects: Refuelling Station • Financials
Slide 3: Refuelling Stations | P2G Units
Power-to-Gas Refuelling Stations REFUELLING STATIONS | P2G UNITS HYDROGEN ENERGY SYSTEMS
Slide 4: Market Offering
MARKET OFFERING Rapid Response | High Pressure | High Efficiency | MW scale • Rapid response: less than 2s; for primary grid balancing • High pressure: up to 80bar; for direct injection • High efficiency: 75% measured by third parties in the field • MW scale: 1MW modules available today • Compliant:
Slide 5: Standard Platforms Product Consolidation
STANDARD PLATFORMS 10ft. ISO 20ft. ISO 20ft. ISO 10ft. ISO 40ft. ISO 20ft. ISO PRODUCT CONSOLIDATION HYDROGEN ENERGY SYSTEMS
Slide 6: Regulations, Codes & Standards
REGULATIONS, CODES & STANDARDS A leading role in shaping hydrogen deployment • Secretary of BCGA Technical Steering Committee 9 • Secretary and UK Expert to ISO Technical Committee 197 • UK Expert to ISO working groups… • …for electrolysers, dispensers & H2 quality Code of Practice 41: H2 Fuelling S
Slide 7: JCB £4.9M Strategic Investment
JCB £4.9M STRATEGIC INVESTMENT Volume Manufacturing • The world's third-largest supplier of earth-moving equipment • Sales of £2.68bn (2014), £313m (2014) profit • Sold 66,227 machines • 22 factories across Asia, Europe, China, North America and South America • 12 factories in the UK and 5 in India
Slide 8: P2G Projects
P2G PROJECTS THÜGA PROJECT RWE EMEC | ORKNEY NG | AMEC 1MW PRODUCT
Slide 9: Why Power-to-Gas?
WHY POWER-TO-GAS? Electricity cannot be stored easily | Hydrogen can be stored easily in the gas grid Source: ITM Power plc POWER-TO-GAS RATIONALE HYDROGEN ENERGY SYSTEMS
Slide 10: Market Size | New EU Report
MARKET SIZE | NEW EU REPORT Germany: 46 GW (£46bn) in 2030 | 115 – 170 GW in 2050 POWER-TO-GAS HYDROGEN ENERGY SYSTEMS
Slide 11: Power-to-Gas
POWER-TO-GAS ENERGY STORAGE | CLEAN FUEL
Slide 12: Power-to-Gas
POWER-TO-GAS ENERGY STORAGE | CLEAN FUEL
Slide 13: Power-to-Gas in UK: EMEC Orkney
POWER-TO-GAS IN UK EMEC | Orkney • £1.8m sale • Competitive tender • 0.5MW electrolyser + storage • Complete hydrogen energy system • Largest system to date • Many follow on projects POWER-TO-GAS ENERGY STORAGE | CLEAN FUEL
Slide 14: Power-to-Gas in UK: National Grid AMEC
POWER-TO-GAS IN UK National Grid | AMEC • Grid Gas: NG | SSE | Shell • NG/AMEC 1: Feasibility study | £120k funded by NG • 200/300 x Multi-MW opportunities in the UK alone • NG/AMEC 2: Contract to identify the first project sites First Plant GridGas NG/AMEC 1 NG/AMEC 2 Sale POWER-TO-GAS ENERGY STORA
Slide 15: 1MW P2G Skid | Hannover Launch
1MW P2G SKID | HANNOVER LAUNCH New 1MW Skid | 3 x 350kW stacks • Hannover launch April 2015 • Smallest 1MW on the market • Based on the new 350kW stack • Rapid response | Modular unit • Developing projects now POWER-TO-GAS HYDROGEN ENERGY SYSTEMS
Slide 16: GridGas: Project Recommendations
GRIDGAS: PROJECT RECOMMENDATIONS LONDON, 24 TH OCTOBER 2013 Recommendations to DECC: • Form a Power-to-Gas working group of stakeholders • Review the inclusion of hydrogen from electrolysis in the Renewable Heat Incentive • Initiate a consultation/call for evidence of injection of hydrogen into the
Slide 17: Clean Fuel
CLEAN FUEL (¢ ) ITM POWER Energy Storage | Clean Fuel
Slide 18: ITM Power Refuelling Stations Reference Plant
ITM POWER | REFUELLING STATIONS Code Status Project Location Specification Funding Contract Ownership Value HRS 001 Operating Nottingham Univ of Notts 5kg/day 350 bar TSB (UK Gov) £275k Univ of Notts HRS 002 Operating HOST Mobile refueller 15kg/day 350 bar TSB (UK Gov) £326k ITM Power HRS 003 Operat
Slide 19: On-Site Hydrogen Production
ON-SITE HYDROGEN PRODUCTION ENERGY STORAGE | CLEAN FUEL
Slide 20: On-Site Hydrogen Production
ON-SITE HYDROGEN PRODUCTION ENERGY STORAGE | CLEAN FUEL
Slide 21: On-Site Hydrogen Production
ON-SITE HYDROGEN PRODUCTION ENERGY STORAGE | CLEAN FUEL
Slide 22: UKH2Mobility
UKH2MOBILITY OLEV | London • £2.89m award • £1.89m for 2 new London HRS • £1m for upgrades including the M1 HRS • Siting partner (oil & gas major) • Awarded 67% of the available money • Matched with £1.7m EU money • Further procurement post election ON-SITE HYDROGEN PRODUCTION ENERGY STORAGE | CLEAN
Slide 23: 80kg/day Refuelling System
80KG/DAY REFUELING SYSTEM ON-SITE HYDROGEN PRODUCTION ENERGY STORAGE | CLEAN FUEL
Slide 24: On-Site Hydrogen Production
ON-SITE HYDROGEN PRODUCTION ENERGY STORAGE | CLEAN FUEL
Slide 25: On-Site Hydrogen Production
ON-SITE HYDROGEN PRODUCTION ENERGY STORAGE | CLEAN FUEL
Slide 26: Financials
FINANCIALS (* ') ITM POWER Energy Storage | Clean Fuel
Slide 27: Product Sales
PRODUCT SALES Lumpy sales and getting lumpier • Typical deal £300k to £3m • Product sales increasing PRODUCT SALES & PROJECT INCOME ENERGY STORAGE | CLEAN FUEL
Slide 28: Product Sales & Project Income
PRODUCT SALES & PROJECT INCOME High growth in revenue For year ending April 30th 2013 £6,000,000 • £1.45 total inflow • £0.09m product sales £5,000,000 • £1.36m grant funding £4,000,000 For year ending April 30th 2014 • £3.12m total inflow £3,000,000 Sales Revenue • £1.16m product sales • £1.96m pro
Slide 29: Project Income
PROJECT INCOME High growth in revenue Collaborative Project Funding For year ending April 30th 2013 £6,000,000 • £1.45 total inflow • £0.09m product sales • £1.36m grant funding £5,000,000 For year ending April 30th 2014 £4,000,000 • £3.12m total inflow Negotiation • £1.16m product sales £3,000,000
Slide 30: Staff Costs
STAFF COSTS High growth in revenue For year ending April 30th 2013 • £1.45 total inflow • £0.09m product sales • £1.36m grant funding For year ending April 30th 2014 • £3.12m total inflow • £1.16m product sales • £1.96m project funding STAFF COSTS ENERGY STORAGE | CLEAN FUEL
Slide 31: Objectives & Growth Strategy
OBJECTIVES & GROWTH STRATEGY Objectives: • ITM Power achieving positive cash flow in the shortest possible time • ITM Power products becoming the adopted standard in Power-to-Gas energy storage • ITM Power products being integrated into market leading hydrogen refuelling stations Growth Strategies:
Slide 32: Summary
ITM POWER PLC: (LSE: ITM.L) JUNE 2015 | COMPANY PRESENTATION Summary • £9.97m of projects under contract • A further £5.79m of contracts in final stages of negotiation • Rapidly developing quoted project pipeline • Strong corporate partner engagement
Slide 33: ITM Power Plc
ITM POWER PLC: (LSE: ITM.L) JUNE 2015 | COMPANY PRESENTATION