Invinity Energy Systems Plc · LSE:IES
Invinity Energy Systems — H1 2022 Earnings Presentation
15 slides from Invinity Energy Systems's earnings presentation, September 2022
Slide 1: Interim Results to 30 June 2022
INTERIM RESULTS TO 30 JUNE 2022 September 2022 IN INITY zi By jo al
Slide 2: Presenters
Presenters Larry Zulch Chief Executive Officer Avalon Battery (CEO) Savvius (CEO) Photometics (Founder & CEO) Cloud Engines (CEO) EMC Corporation (VP & Officer) Dantz Development (Founder & CEO) Matt Harper Chief Commercial Officer Avalon Battery (Founder & President) Prudent Energy (VP Products & S
Slide 3: HY 2022 Financial Highlights
HY 2022 Financial Highlights £1.4m 3.4 MWh £12.9m Recognised revenue in H1 2022 Shipped during H1 2022 Closed sales backlog =" Period-end inventory of £10.9m, including prepaid inventory (HY 2021: £8.0m) =" Period-end cash of £16.1m (HY 2021: £10.9m) = The Group remains debt free, excluding leases (
Slide 4: HY 2022 Financial Highlights
HY 2022 Financial Highlights Revenue 1.4 Non-current assets 241 Cost of sales (3.7) Inventory 5.8 (2.3) Prepaid inventory 5.1 Admin expenses: staff costs (4.4) Other assets 3.6 Admin expenses: other (4.5) Cash 161 Other operating income & expense (0.9) 57.5 Finance costs & foreign exchange 0.5 Trade
Slide 5: HY 2022 Financial Highlights
HY 2022 Financial Highlights Loss after income tax (11.6) Loss for the period (11.6) Adjustments for non-cash items 1.2 Less non-cash movements 1.2 Increase in inventory & prepaid (1.2) (10.4) vento Cash impact of gross loss (2.6) Other changes in operating 1.7 , ; assets/liabilities Cash impact of
Slide 6: HY 2022 Highlights
HY 2022 Highlights Commercial = 8.4 MWh sale to Elemental Energy =" LODES Phase 1 funding = Secured reseller partnerships in new markets Operational = 93 VS3s (3.4 MWh) shipped to site =" Manufacturing expansion with Baojia New Energy = Improving macro supply chain environment Strategic = U.S. Expan
Slide 7: Accelerating Near-Term Sales
Accelerating Near-Term Sales Base Invinity selected & moving to close; Invinity’s most important category +96% May 2022 22.8 11.6 Base category doubling since May 2022; deals entering final negotiation stage Advanced Planning initiated; financing and size finalised May 2022 y -4% 66.3 63.8 Movement
Slide 8: Delivering Key Projects
Delivering Key Projects Elemental Energy = 1.1 MWh shipped from Baojia New Energy for solar + storage project in Alberta, Canada. = Balance expected to be shipped by end of 2022. Yadlamalka Energy = Relocated to second site in South Australia. Original site remains under development. =" Manufacturin
Slide 9: Improving Macro Environment - Pricing
Improving Macro Environment - Pricing BALTIC DRY INDEX-1D- INDEX @ E1807 -6 (-0.33%) 6000 Pricing beginning to normalise = ~60% reduction in container shipping costs = ~14% reduction in Vanadium electrolyte pricing = Baojia partnership helping to realise further economies of scale 2021 Apr Jul Oct 2
Slide 10: Aug 2021 Feb and Sept 2022
▪ Aug 2021 ▪ ▪ Feb and Sept 2022 ▪ ▪
Slide 11: Improving Macro Environment - Policy & Support
Improving Macro Environment - Policy & Support Government support U.S. Inflation Reduction Act providing $369bn for clean energy: = $60bn for manufacturing = $30bn in investment tax credits = Australia increasing renewable energy storage targets = UK -LDES considered key part of National Energy Stra
Slide 12: U.S. Expansion Strategy
U.S. Expansion Strategy Taking advantage of supportive macro environment " Qualify for Bipartisan Infrastructure Bill and Inflation Reduction Act support * MoU for JV with U.S. Vanadium = Supply-chain, U.S. content = Pursue government funding =" ULand NFPA certification gained = U.S. subsidiary with
Slide 13: Joint Development of Grid-Scale Flow Battery
Joint Development of Grid-Scale Flow Battery Program deliverables: a next-generation grid-scale flow battery (“Mistral”) * Joint announcement with Gamesa Electric / Siemens Gamesa Renewable Energy = Announced May 2021 as a two-year staged development project = Current (VS3): 1 MWh to 50 MWh = Next-g
Slide 14: Outlook
Outlook FORWARD FOCUS = Conclude and announce commercial deals, demonstrating commercial relevance of VS3 product = Deliver backlog of closed contracts to customer sites and convert inventory into revenue * Continue to progress Mistral development ADDITIONAL FOCUS * Continue to secure strategic rela
Slide 15: Invinity Energy Systems
IN _INITY ENERGY SYSTEMS Utility-Grade Energy Storage IN INITY ENERGY SYSTEMS
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