Eos Energy Enterprises, Inc. · NASDAQ:EOSE
Eos Energy Enterprises — Tudor, Pickering, Holt & Co. Battery Workshop 2021
26 slides from Eos Energy Enterprises's conference presentation, Mar 31, 2021
Slide 1: Eos Energy Enterprises – Tudor, Pickering, Holt & Co. Battery Workshop
Eos Energy Enterprises Tudor, Pickering, Holt & Co. Battery Workshop March 31, 2021
Slide 2: Disclaimer
2 Disclaimer This presentation does not purport to contain all of the information that may be required to evaluate a possible investment decision with respect to Eos Energy Enterprises, Inc. (“Eos”). The recipient agrees and acknowledges that this presentation is not intended to form the basis of an
Slide 3: Evolution of a green tech start-up
3 Evolution of a green tech start-up 55MM60MM50MM 30MM 58 patents filed 111 patents filed 57 patents filed 1 patent filed Chemistry Research & Development 2008 - 2015 Battery Product Development 2016 - 2017 Energy Storage Systems Design and Manufacturing 2018 - 2019 Integrated Energy Solutions 2020+
Slide 4: Business highlights
4 Business highlights Pipeline $3.5 billion representing 19 GWh of storage Booked orders $28.5 million representing 102.5 MWh of storage Cash on hand $122 million1,2 $126 million net proceeds from transaction Production capacity 260MWh with estimated $38M in capex investment in 2021 to increase capa
Slide 5: The Market: How we see it
The Market How we see it 5
Slide 6: The energy sector is entering an age of decentralization and democratization
6 Like the pivotal advance from mainframes to PCs, the energy sector is entering an age of decentralization and democratization. Two global forces are driving this change. Demand. Decarbonization.
Slide 7: Decentralization, Democratization, Demand, Decarbonization
7 Decentralization Power produced anywhere 2 million total U.S. installed solar systems, = 1 year demand in California 25% increase in microgrid installation, 2X 2008 Sources: EIA, IEA, SEIA, and Wood Mackenzie Democratization Power produced by anyone Demand Ever-increasing global need Decarbonizati
Slide 8: New challenges and opportunities: surplus and scarcity
8 The transition to this increasingly complex system has introduced new challenges—opportunities. Surplus and scarcity.
Slide 9: Surplus and Scarcity
9 Surplus Overproduction at low use times 100 terawatt hours worth of generated electricity wasted in 2021 = 1 year demand in Texas 15 gigawatts one day of curtailment in California in 2020 > All 2020 storage installations Scarcity Underproduction in emergency conditions More than 69 gigawatts ERCOT
Slide 10: A way to synchronize supply and demand
10 Like the evolution of disconnected PCs to cloud-based networking, a decentralized, democratized, and decarbonized energy ecosystem requires a way to synchronize supply and demand to maximize utilization.
Slide 11: Evolution of energy storage technology and application
11 Phase 1: 2010 – 2015 2010 - 2015 2020 - 20302015 - 2020 Evolution of energy storage technology and application Global cumulative deployments ~0 1 GWh 20 GWh 200 GWh 740 GWh 1-hour median duration Frequency Regulation Demand Management Energy Utilization 2020 – 2030 31% CAGR Sources: Wood, Mackenz
Slide 12: Eos storage technology is optimized for the big opportunity
12 Eos storage technology is optimized for the big opportunity 2020-2030 Use case segmentation 15 – 60 minutes $16B Ancillary services 3-12 hours $160B Time shifting >18 hours $12B Bulk storage Long durationShort duration Sources: BNEF Grid stability Energy utilization Grid reliability
Slide 13: We're at the dawn of the energy cloud
We’re at the dawn of the energy cloud 13
Slide 14: The energy cloud is filled with new customers
14 The energy cloud is filled with new customers A one-way market supported by similar large, technical companies A diverse market populated by different types and sizes of participants
Slide 15: Diversified customers. Diverse revenue streams.
15 Project financing for renewable energy assets on a stand- alone basis Development financing for early-stage clean energy initiatives Diversified customers. Diverse revenue streams. Cash sales for direct purchase of Eos equipment Asset leasing equipment agreements on a lease-to-own basis Recurring
Slide 16: Eos is building the building blocks of the energy cloud
16 Eos is building the building blocks of the energy cloud Long-duration storage Energy utilization software Technical and operational services
Slide 17: Realizing the full power of zinc
17 Realizing the full power of zinc Our ingeniously simple Znyth® aqueous electrolyte battery design A proprietary chemistry No dendrite formation or electrode densification eliminates performance decay and related safety hazards High-performance aqueous electrolyte1 Non-degradable bipolar electrode
Slide 18: The new Z3 and Eos Cube
18 500 750 0 100 200 300 400 500 600 700 800 Znyth 2.3 Z3 1/3 the size of current Znyth 2.3 battery The new Z3 and Eos Cube Smaller battery footprint. More system power. 50% more power Eos Cube capacity in MWh Znyth 2.3 Z3 (Final form in development)
Slide 19: Znyth benefits
19 Non-flammable. Non-toxic. Safe No precious metals. No clean rooms. Scalable Long lifespan. Fully recyclable. Sustainable Wide temperature range. Flexible charge and discharge. Efficient Znyth benefits + Solving the limitations that other battery technologies ignore + Delivering 27% lower total co
Slide 20: Tested in the lab. Proven in the field. Independently certified.
20 Tested in the lab. Proven in the field. Independently certified.* More than 200MWh discharged since 2016 One of the largest battery testing facilities in the U.S. – based in Edison, NJ Nine Eos energy storage systems deployed across four continents * UL certification expected Q2 = 2021
Slide 21: Our scalable four step manufacturing process
21 Our scalable four step manufacturing process A fully automated and integrated facility located in the Pittsburgh, PA Assemble Zinc-coated titanium diodes are merged with carbon felt anodes to form the battery’s electrode Weld The polymer frames that house the battery’s electrodes are sealed with
Slide 22: Investing in manufacturing capacity
22 800MWh Capacity planning Investing in manufacturing capacity A highly capital efficient, U.S based supply chain and facility Current capacity 260MWh Additional capacity 540MWh Investment required Capital Expenditure $24M Automation $13M Implementation $1.5M Total $38M World class partnerships Rob
Slide 23: Eos energy storage system configurations
23 Hangar Maximum capacity 10MW/40MWh = 14,000 sq. ft. + Pre-engineered hanger-style building + Series of racks, each 12 strings high, typically larger than 40 MWh + Delivers high power, small footprint Cube Instant plug & play 10MW/40MWh = 25,000 sq. ft. + Standard 20 ft outdoor-rated container + 5
Slide 24: Ready for any customer, anywhere
24 Ready for any customer, anywhere New York Urban storage Nigeria Microgrid installation California Grid resiliency
Slide 25: Current commercial activity
25 Current commercial activity 150+ potential customer projects engaged Technical proposal Non-binding quote $1.8B 10GWh $0.6B 3GWh $2.2B 13GWh $0.6B 3GWh $28.5M 102.5MWh ✓ Clear project requirements ✓ Gather customer specs ✓ Analyze use cases ✓ Commercial & technical proposal ✓ Finalize commercial
Slide 26: $300 million in booked orders and team
26 $300 million in booked orders + Balki Iyer, Chief Commercial Officer + Simone Vannini, Commercial Director + Damoon Moin, Sales Manager + 12-person commercial team 800MWh in total manufacturing capacity + Partha Dey, India Operations Leader + Jerry Weingord, Advanced Supply Chain + Rick Buchman,
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