Itm Power Plc · LSE:ITM
Itm Power — Shareholder Meeting (October 2020)
18 slides from Itm Power's shareholder meeting presentation, Oct 29, 2020
Slide 1: AGM Presentation | 29th October
AGM Presentation | 29th October Roger Bone, Chairman; Graham Cooley, CEO ITM Power 1
Slide 2: Presentation Contents
PRESENTATION CONTENTS HYDROGEN ENERGY SYSTEMS ITM Power AGM 2020 ▪ Welcome ▪ Resolutions Summary ▪ Resolutions ▪ CEO | AGM Presentation ▪ Q&A ITM Power Bessemer Park | 1GW pa Capacity Electrolyser Factory ITM Power AGM 2020| 29th Oct 2020
Slide 3: Welcome to the ITM Power 2020 AGM
WELCOME TO THE ITM POWER 2020 AGM HYDROGEN ENERGY SYSTEMS Welcome to the ITM Power 2020 AGM: ▪ Delighted to welcome more than usual due to unusual circumstances ▪ An outstanding year for ITM Power ▪ An outstanding year for the hydrogen industry ▪ Results were delayed due to Covid-19 ▪ Important tran
Slide 4: ITM Power 2020 AGM Presentation
Shell 10MW electrolyser, Rhineland Refinery, Germany ITM Power 2020 AGM Presentation: ▪ Why green hydrogen, why now? ▪ Key achievements in the last year ▪ £172m funding round ▪ Progress with ILE (ITM Linde Electrolysis) ▪ Operations update ITM Power 2020 AGM Presentation 4
Slide 5: Why Hydrogen? | Why Now?
WHY HYDROGEN? | WHY NOW? HYDROGEN ENERGY SYSTEMS Rapidly Accelerating Market Dynamics: ▪ Renewable energy costs are falling alongside volume deployment ▪ Energy storage and grid balancing will be increasingly important ▪ Green hydrogen market is being driven by net zero targets Transformative EU Gre
Slide 6: Key Achievements | An Important 12 Months
KEY ACHIEVEMENTS | AN IMPORTANT 12 MONTHS HYDROGEN ENERGY SYSTEMS Key Achievements in the last 12 months: ▪ Record Backlog: £118.7m (previous high £52.4m) ▪ Increasing Tender pipeline of £324.9m ▪ Occupation of Bessemer Park | Planned capacity to 1GW pa by 2023 ▪ 8MW & 10MW deals announced | 100MW H
Slide 7: Use of Funds
USE OF FUNDS HYDROGEN ENERGY SYSTEMS Targeting Low Cost Green H2 in two years £47m Technology Acceleration • Volume £37m Manufacturing Acceleration • Cost Reduction • Market Share £32m Operations Acceleration • Revenue £30m ITM Motive (refuelling) £172m Fundraise (subject to shareholder approval on
Slide 8: ITM Power | Market Partnerships
ITM POWER | MARKET PARTNERSHIPS HYDROGEN ENERGY SYSTEMS Shell Partnership (2015): Linde Partnership (2019): Snam Partnership (2020): ▪ 10MW refinery project ▪ Market presence ▪ Recognised leadership in H2 ▪ UK refuelling siting partnership ▪ ITM Power equity investor (20%) ▪ Energy network experienc
Slide 9: Tender Opportunity Pipeline (ToP) | Impact of Linde
TENDER OPPORTUNITY PIPELINE (TOP) | IMPACT OF LINDE HYDROGEN ENERGY SYSTEMS ToP Currently at £324.9m: ▪ ITM £201.2m | ILE £123.7m ▪ Average project size of £6.37m| 6.49MW ▪ Reflects strong industrial demand for larger systems ▪ Further SNAM opportunities represent upside ▪ H2 2019: Included EPC serv
Slide 10: Tender Opportunity Pipeline (ToP) | Impact of Linde
TENDER OPPORTUNITY PIPELINE (TOP) | IMPACT OF LINDE HYDROGEN ENERGY SYSTEMS Quoted pipeline > £40 million > £20 million > £10 million 1 < £10 million 2 2 1 1 8 1 2 1 1 1 2 4 1 8 1 6 2 2 3 1 Number inside the circles represents the number of opportunities in the pipeline for that country
Slide 11: Bessemer Park
BESSEMER PARK HYDROGEN ENERGY SYSTEMS Progress | Occupation | Key Dates: ▪ Wi-Fi Installed 3rd October ▪ Executive occupied offices 4th October ▪ Full office occupation 27th November ▪ Technology Centre 27th November ▪ Production 27th November ▪ 5MW Power 7th December ▪ Close of the S2 lease 28th Fe
Slide 12: New Appointments
NEW APPOINTMENTS HYDROGEN ENERGY SYSTEMS Position Title Reports to: Duncan Yellen MD of ITM Motive Rachel Smith Jenny Hewitt Head of Projects Rachel Smith Lee Hamilton Head of HSE Rachel Smith Simon Holmes Group Financial Controller Andy Allen Grant Teagle Head of Manufacturing & Logistics Andy Alle
Slide 13: Corporate Social Responsibility
CORPORATE SOCIAL RESPONSIBILITY HYDROGEN ENERGY SYSTEMS Corporate Social Responsibility: ▪ HRS, continue to support Met Police and NHS ▪ New enhanced plan for COP26 Glasgow | Nov 2021 ▪ Established “Mental Health” first aider programme ▪ Supplier code of conduct roll out underway ▪ Exploring ESG reg
Slide 14: ITM Power | Monthly Newsletter
ITM POWER | MONTHLY NEWSLETTER HYDROGEN ENERGY SYSTEMS Newsletter | Communicating with Stakeholders: ▪ Mailing list of 27,000 contacts via SalesForce ▪ Shareholders, media, press and industry ▪ Global reach ▪ Content includes ITM and Industry news ▪ Featured video “Tea break clip” ▪ Events to be att
Slide 15: ITM Power Research Notes
ITM POWER RESEARCH NOTES HYDROGEN ENERGY SYSTEMS Research | Communicating with investors: ▪ Investor demand driving research on energy transition ▪ The worlds largest banks covering or preparing to cover ▪ Research teams pivoting from Oil & Gas to hydrogen ▪ Market beginning to understand the scale
Slide 16: ITM Power RNS Announcements October 2020
ITM Power plc. (ITM.L) | RNS Announcements 23 October 2020 RNS_— Grants under Long Term Incentive Plan Corporate 23 October 2020 RNS __ Results of Placing and Open Offer Resuts and Trading Updates 22 October 2020 RNS _ Final Results Corporate 22 October 2020 RNS Placing, Investment by Snam and Open
Slide 17: Transaction Overview
TRANSACTION OVERVIEW HYDROGEN ENERGY SYSTEMS Why ITM Power: £165m Equity Fundraise | Transaction timetable: ▪ Rapid market growth in the GW scale • SNAM investment signing: 22 Oct • Announcement of placing: 22 Oct (16:30) ▪ Global technology leadership and manufacturing scale • ITM Results Announcem
Slide 18: AGM Presentation | 29th October
AGM Presentation | 29th October Graham Cooley, CEO ITM Power 18