Meyer Burger Technology AG · OTC:MYBUF
Meyer Burger Technology — Investor Presentation (March 2024)
17 slides from Meyer Burger Technology's investor presentation, March 2024
Slide 1: Meyer Burger Company Presentation March 2024
Meyer Burger Company Presentation March 2024
Slide 2: Disclaimer
Disclaimer NOT FOR PUBLICATION OR DISTRIBUTION IN THE UNITED STATES OF AMERICA (INCLUDING ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES AND THE DISTRICT OF COLUMBIA), CANADA, JAPAN OR AUSTRALIA OR ANY OTHER JURISDICTION IN OR INTO WHICH THE SAME WOULD BE UNLAWFUL This document and
Slide 3: Business Review And Key 2023 Figures
Business Review And Key 2023 Figures Net sales EBITDA [CHF mn] [CHF mn] 2022 2023 147 135 -35 Market distortions created by oversupply of Asian-made solar PV -73 Operative products and trade restrictions imposed by the U.S. resulting in 125 high losses in Europe 128 Modules Pasan/OldCo -91 One offs
Slide 4: Development of Production KPI Shows Meyer Burger Is a High-quality Mass Producer
Development of Production KPI Shows That Meyer Burger Has Established Itself as a High-quality Mass Producer Meyer Burger White module production yield Freiberg, Germany [%] • Production yields have continued to improve over 100 time 98% 90 A+B grade yield • Meyer Burger accomplishes the industry-ty
Slide 5: Strong Longevity of Meyer Burger Products
Strong Longevity of Meyer Burger Products • A major challenge for the performance of solar modules is the so-called PID effect ("potential induced degradation") which can lead to massive product failure in the field • Swiss EPFL has recently presented a comparative study between Meyer Burger HJT+SWC
Slide 6: U.S. Opportunity Remains Highly Attractive
U.S. Opportunity Remains Highly Attractive 2.0 GW Module Facility in Goodyear (AZ) U.S. Solar PV Deployment Forecast, by SEIA(1) Installed Capacity (GW) Q2 2024 500 10k 47 Start of Solar Modules Employees (3) 43 Production (2) per Day (3) 38 33 2.0 GW Cell Facility in Colorado Springs (CO)(3) Mid-te
Slide 7: Potential Transition To A Partnership Business Model Currently Being Explored
Potential Transition To A Partnership Business Model Currently Being Explored Acceleration of Meyer Burger’s cutting-edge technology on an exclusive basis to industrial partners in different regions of the world Partnership business model Meyer Burger would retain Continued funding of production inc
Slide 8: Financing Plan To Close The Funding Gap
Financing Plan To Close The Funding Gap Financing mix: • Funding gap of CHF 450m to complete construction of Colorado and Arizona manufacturing facilities • Rights issue with target proceeds of around CHF 200m • Remainder to be debt financed from additional financing options: export financing loan,
Slide 9: Funding Plan
Funding Plan Export Credit Financing Rights Issue c. USD 95m DoE Loan Around CHF 200m c. USD 200-250m 45X Up to USD 300m April 2024 Q2 2024 H2 2024 Goodyear start of production in Q2 2024 Colorado potential start of production by Q4 2024 (1) Possible delay subject to timing of additional funding opt
Slide 10: Meyer Burger Investment Case
Meyer Burger Investment Case 1 Meyer Burger Serves The 2 Meyer Burger Is Among The 3 Highly Profitable U.S. Structural Growth Market Western Suppliers Of High Business Opportunity With Of Solar Technology HJT Cells And Strong Policy Support With Modules Potential Strategic Upsides Source: Company In
Slide 11: Massive Growth Opportunity In The U.S.
1 Massive Growth Opportunity In The U.S. U.S. Solar PV Development Before and Products & Services U.S. Segmentation (2) U.S. Solar PV Deployment Forecast, by After the Inflation Reduction Act (1) Industry Revenue in 2023 Broken Down by Key Product SEIA (1) Annual U.S. Solar Installations (GWdc) and
Slide 12: Global #1 HJT Player
2 Global #1 HJT Player Advantages of Meyer Burger’s Heterojunction Technology Patented Cell & Module Outstanding Cell & Sustainable and Socially Customised In-House Technology and Equipment Module Efficiency Roadmap Fair Production Conditions Equipment Engineering Meyer Burger’s R&D Capabilities ▪ S
Slide 13: Why Is HJT The Right Technology Path?
2 Why Is HJT The Right Technology Path? Framework What is HJT (Heterojunction)? Why HJT? Efficient and Reliable Process flow with only 6 process steps and Technology with Strong 1 maximum process temperatures of 250°C for Upgrade Potential high production yield The top three cost driving materials s
Slide 14: Robust In-House R&D Function
2 Robust In-House R&D Function Hohenstein-Ernstthal Neuchâtel Thun Hauterive Cell development and Technology and product development centre SmartWire Connection Technology Focus on transferring the technologies from equipment production for leading power measurement technologies development center l
Slide 15: Shift To Local Sourcing Works In MB's Favour
3 Shift To Local Sourcing Works In MB’s Favour Robust U.S. Subsidy Regime MB Planning to Enter Large U.S. Market with Limited Players Current administration has made the U.S. an attractive investment region 1 for non-Chinese renewables players (1) Player Technology Cells Modules ITC(2)(3) Scheme Sum
Slide 16: Overview Of U.S. Business (Meyer Burger Americas)
3 Overview Of U.S. Business (Meyer Burger Americas) 2.0 GW Module Facility in Goodyear (AZ) 2.0 GW Cell Facility in Colorado Springs (CO) ~Year Q2 2024 500 10k 350 1.4m Start of Employees (2) Solar Modules End 2024 Employees (2) HJT Solar Half production (1) per Day (2) Potential Start of Cells per
Slide 17: With the right energy, anything is possible.
With the right energy, anything is possible.
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