Invinity Energy Systems Plc · LSE:IES
Invinity Energy Systems — Non-Deal Roadshow (June 2022)
21 slides from Invinity Energy Systems's roadshow presentation, June 2022
Slide 1: Company Update: Annual Results June 2022
Overview COMPANY UPDATE Annual Results June 2022
Slide 2: Presenters
Presenters Larry Zulch Matt Harper Peter Dixon-Clarke Chief Executive Officer Chief Commercial Officer Chief Financial Officer § Avalon Battery (CEO) § Avalon Battery (Founder & President) § Kuwait Energy plc (CFO) § Savvius (CEO) § Prudent Energy (VP Products & Services) § Hotspur Geothermal (CFO)
Slide 3: 2021 Highlights
2021 Highlights 9.3 MWh 8.2 MWh £14m Sold January 2021 to Delivered January 2021 to Closed sales backlog for June 2022 June 2022 delivery in 2022 § Revenue for the year of £3.2m, a 690% increase vs 2020 § Year-end inventory of £9.9m, including prepaid inventory § Year-end cash of £26.4m (2020: £22.0
Slide 4: 2021 Highlights
2021 Highlights 2021 Profit & loss: £'m 2021 Balance sheet: £'m 2021 Revenue 3.2 Non-current assets 24.1 Cost of sales (6.6) Inventory 5.8 (3.4) Prepaid inventory 4.1 Administrative expenses: staff costs (9.0) Other assets 6.2 Administrative expenses: other (5.4) Cash 26.4 Other operating income & e
Slide 5: 2021 Highlights
2021 Highlights Cash flow: £'m Cash burn: 1st 5 months of 2022: £'m 2021 Loss (21.4) Opening cash on 1 January (26.4) Non-cash items 2.1 Closing cash on 31 May 18.3 Increase in inventory & prepaid inventory (7.9) (8.1) Other changes in oper. assets/ liabilities 4.2 Less inventory related payments 2.
Slide 6: Shifting to renewable energy requires energy storage
Invinity’s thesis has been affirmed as we make the transition from pilot to commercial projects. Shifting to renewable Lithium will not meet Invinity delivers energy requires all future energy the utility-grade energy storage. storage needs. alternative. 6
Slide 7: Moving beyond lithium requires a proven product
Moving beyond lithium requires a proven product. Invinity leads in delivering an alternative to lithium. 7
Slide 8: Soboba Fire Station
Soboba Fire Station CRITICAL INFRASTRUCTURE – JUNE 2022
Slide 9: European Marine Energy Centre
European Marine Energy Centre SMOOTHING TIDAL POWER FOR HYDROGEN PRODUCTION
Slide 10: Energy Superhub Oxford
Energy Superhub Oxford ENERGY TRADING, ANCILLARY SERVICES
Slide 11: Scottish Water Perth
Scottish Water Perth DECARBONIZING WATER TREATMENT
Slide 12: Vanadium Flow Battery Use Cases
Vanadium Flow Battery Use Cases ENERGY SUPERHUB OXFORD EUROPEAN MARINE ENERGY CENTRE SCOTTISH WATER PERTH SAN JACINTO FIRE STATION 12
Slide 13: Accelerating Sales
Accelerating Sales Categories Base Invinity selected; moving to close. Advanced Site engineering and planning initiated; 2,765 VS3s (+162%) financing and storage size finalised. Qualified Need, funding, timing and Invinity advantage established. 301 VS3s (+115%) § New sales staff (2022) in core mark
Slide 14: Context – Macro Environment Influences
Context – Macro Environment Influences Regarding ONLY the impact on Invinity as a business: Influence Recent Long-term Comment GHG – COP26 The more renewable energy on the grid, the more long-term storage is needed. Russia stopped exporting 15% of global vanadium temporarily increasing prices, Russi
Slide 15: Joint Development of Grid-Scale Flow Battery
Joint Development of Grid-Scale Flow Battery § Joint announcement with Gamesa Electric / Siemens Gamesa Renewable Energy § Program deliverables: a next- generation vanadium flow battery § Announced May 2021 as a two- year staged development project § Current (VS3): 1 MWh to 50 MWh § Next generation:
Slide 16: 2026 Vision
2026 Vision We are approached by a large energy developer to supply a 100 MW 6-hour BESS for Atlas 5, a 1.2 GWdc solar project in Southern California. 1 8Minute Energy’s Mount Signal Project We sign a deal for $157 million ($262 per kWh) that includes only conversion of the 2 12m liters of electroly
Slide 17: 2026 Vision
2026 Vision We build 2,000 next generation modules in our North America facility, with stacks, and ship them empty in 40’ containers (two each) to an electrolyte plant. 3 The ETF’s vanadium arrives at the 4 electrolyte plant. There the modules are filled with electrolyte and trucked to site on tride
Slide 18: 2026 Vision
2026 Vision The site has been prepared by the developer’s EPC for foundations & wiring. Gamesa Electric supplies 12 PCSs (each nominally 2 x 5 MW) and transformers. 5 Atlas 5 Solar Project 186K Dev LLC 186K ENERGY INC. A crane places the modules two-high on 6 the foundations, requiring just over 4.4
Slide 19: Outlook
Outlook FORWARD FOCUS § Co-development of our next-generation product with Gamesa Electric and SGRE § Commercial partnerships (Hyosung) § Scaling up manufacturing (BCI to Baojia) § Government project support (ARENA, BEIS, CEC, DOE) § Expanded U.S. trading of IES shares WHAT TO EXPECT § Persuasive de
Slide 20: Overview
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Slide 21: What makes energy storage utility-grade?
What makes energy storage utility-grade? Must have no risk of thermal runaway or significant SAFE safety risk near residential areas Match the lifespan of solar & wind assets; 25+ years of LONG-LIFE constant cycling Low LCOS; the price per MWh stored & discharged over ECONOMICAL the lifetime of the
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