Fusion Fuel Green Plc · NASDAQ:HTOO
Fusion Fuel Green — Q3 2022 Earnings Presentation
27 slides from Fusion Fuel Green's earnings presentation, Nov 28, 2022
Slide 1: Q3 2022 Presentation
ALL RIG HT S BELONG TO FUSION - FUEL Q3 2022 PRESENTATION
Slide 2: Disclaimer
ALL RIG HT S BELONG TO FUSION - FUEL — Disclaimer This presentation includes statements of future events, conditions, expectations, and projections of Fusion Fuel Green plc (t he “Company”). Such statements are “forward looking statements” within the meaning of the “safe harbor” provisions of the Un
Slide 3: Agenda
ALL RIG HT S BELONG TO FUSION - FUEL AGENDA ▪ Focus on Fusion ▪ Q3 Financials & Highlights ▪ Commercial Update ▪ Production & Tech ▪ 2022 Milestones ▪ Chairman’s Remarks ▪ Q&A
Slide 4: Focus on Fusion
ALL RIG HT S BELONG TO FUSION - FUEL 01 – FOCUS ON FUSION
Slide 5: Fusion Fuel: A Leading Pure Play Hydrogen Technology Company
ALL RIG HT S BELONG TO FUSION - FUEL 01 – FUSION FUEL: A LEADING PURE PLAY HYDROGEN TECHNOLOGY COMPANY 5 Decentralized Approach Unique market positioning that enables decentralized hydrogen end - use, bypassing current need for costly infrastructure buildout, making it perfect for mobility applicati
Slide 6: Q3 Highlights & Financial Review
ALL RIG HT S BELONG TO FUSION - FUEL 02 – Q3 HIGHLIGHTS & FINANCIAL REVIEW
Slide 7: Key Developments
ALL RIG HT S BELONG TO FUSION - FUEL Key Developments ▪ Received approval for € 10 million in grant funding from C - 14 of PRR to develop the HEVO - Industria project in Sines ▪ Black & Veatch completed independent technology assessment of Fusion Fuel and HEVO - Solar system ▪ TUV SUD completed thr
Slide 8: Financial Data (Unaudited): Key Financials & Figures
ALL RIG HT S BELONG TO FUSION - FUEL 02 – FINANCIAL DATA (UNAUDITED) KEY FINANCIALS & FIGURES (€000’s) (Unaudited) Q3 2022 Q2 2022 o/w share - based payment (non - cash) expenses 1 (878) (954) o/w operating expenses 2 (4,649) (3,943) OPERATING (LOSS) INCOME (5,527) (4,897) o/w fair value movement –
Slide 9: Financial Data (Unaudited): Balance Sheet
ALL RIG HT S BELONG TO FUSION - FUEL 02 – FINANCIAL DATA (UNAUDITED) KEY FINANCIALS & FIGURES (€000’s) (Unaudited) Q3 2022 Q2 2022 Property, plant and equipment 1 27,958 26,628 Intangible assets 2 5,650 5,374 TOTAL NON - CURRENT ASSETS 33,608 32,002 Prepayments and other receivables 3 5,470 5,098 In
Slide 10: At the Market Issuance Sales Agreement
ALL RIG HT S BELONG TO FUSION - FUEL 1 On June 6, 2022, we entered into an At the Market Issuance Sales Agreement (“the ATM”) with B. Riley Securities, Inc., Fearnley Securities Inc., and H.C. Wainwright & Co., LLC, pursuant to which the Company may offer and sell, from time to time, through or to t
Slide 11: Grant Request Update
ALL RIG HT S BELONG TO FUSION - FUEL GRANT REQUEST UPDATE – SUBSEQUENT TO SEPTEMBER 30, 2022 (€000’s) (Unaudited) GRANT INCOME TOTAL ESTIMATED TOTAL APPROVED TOTAL INVOICED (TO DATE) POSEUR – HEVO - Sul 1 4,291 4,291 2,646 AICEP – Benavente (Cash portion only) 2 4,420 4,420 814 C - 14 – HEVO - Indus
Slide 12: Commercial Update
ALL RIG HT S BELONG TO FUSION - FUEL 03 – COMMERCIAL UPDATE
Slide 13: Executing on Our Commercial Strategy
ALL RIGHTS BELONG TO FUSION - FUEL 03 – EXECUTING ON OUR COMMERCIAL STRATEGY 13 1. De - risk 2023 pipeline with all projects having secured grants and virtually all with land and permitting underway ▪ Estimated 2023 revenues of €40 million ▪ Roughly 1/3 of 2023 pipeline is tech sales with the balanc
Slide 14: 2023 Technology Sale Pipeline
ALL RIGHTS BELONG TO FUSION - FUEL 03 – 2023 TECHNOLOGY SALE PIPELINE 14 Fusion Fuel is providing solutions to its customers and supporting them from permitting through operatio n . We have a robust pipeline of near - term tech sales that have either secured or are in the process of securing grants.
Slide 15: 2023 Project Development Pipeline
ALL RIGHTS BELONG TO FUSION - FUEL 03 – 2023 PROJECT DEVELOPMENT PIPELINE 15 Project 1 Location Vertical Electrolysis Capacity Capital Investment Grant (€m) Status Land Permitting Offtake COD Elvas Portugal 3.4 MW € 9 TBD Pre - FEED x WIP x 1H 2025 Azambuja Portugal 4.8 MW € 13 TBD Pre - FEED x WIP
Slide 16: Expanding into New Markets: North America
ALL RIGHTS BELONG TO FUSION - FUEL 03 – EXPANDING INTO NEW MARKETS: NORTH AMERICA 16 The IRA is a green hydrogen game changer: H 2 Tax Credits ▪ Production tax credits of up to $ 3 / kg can be claimed for 10 years on H 2 produced ; or ▪ an investment tax credit of up to 30 % can be claimed on the co
Slide 17: Establishing a Foothold: Bakersfield
ALL RIGHTS BELONG TO FUSION - FUEL 03 – ESTABLISHING A FOOTHOLD: BAKERSFIELD ▪ Fusion Fuel recently entered into an exclusive agreement with Electus Energy to develop a large - scale green hydrogen project in Bakersfield, CA ▪ The project entails a 74 MW solar - to - hydrogen facility delivering 9,3
Slide 18: Duferco Partnership
ALL RIGHTS BELONG TO FUSION - FUEL 18 500 MW Duferco Partnership Scope Duferco is a highly qualified and diversified Group, with its core activities in the Energy, Industrial and Shipping businesses Strategic partnership focused on: ▪ Italian market development ▪ Building an actionable pipeline of d
Slide 19: Technology Update
ALL RIG HT S BELONG TO FUSION - FUEL 04 – TECHNOLOGY UPDATE
Slide 20: HEVO Development
ALL RIGHTS BELONG TO FUSION - FUEL 04 – HEVO DEVELOPMENT 20 ▪ 288 units per HEVO - Solar ▪ 1 bar of unit output pressure We are committed to building on the competitive advantage of our HEVO technology, continually reducing system cost and complexity while improving the efficiency and productive cap
Slide 21: A Revolutionary PEM Electrolyzer
ALL RIGHTS BELONG TO FUSION - FUEL 04 – A REVOLUTIONARY PEM ELECTROLYZER 21 Miniaturized PEM Modular Any energy sources Cost Efficient Scalable
Slide 22: HEVO-Chain Hydrogen Unit
ALL RIGHTS BELONG TO FUSION - FUEL 04 – HEVO - CHAIN HYDROGEN UNIT 22 ▪ Each HEVO - Chain hydrogen unit consists of 16 interconnected HEVO micro - electrolyzers in a string, enclosed in a fully - controllable module ▪ The system is designed for scalability, allowing for up to eight stackable modules
Slide 23: HEVO-Chain Component Development
ALL RIGHTS BELONG TO FUSION - FUEL 04 – HEVO - CHAIN COMPONENT DEVELOPMENT 23 Target Commercial Operation 2024 2022 Existing HEVO - Solar power systems Prototype Development Existing HEVO - Solar water supply system Operational prototype ready during 4Q22 2023 Component Development Containerizing po
Slide 24: Benavente Update
ALL RIGHTS BELONG TO FUSION - FUEL 04 – BENAVENTE UPDATE 24 Ramping up production in Benavente each month H olding a €12 million inventory which significantly de - risks 2023 production IN PROGRESS COMPLETED 2Q 2021 Purchase of Factory 1Q 2022 Renovations Complete May 2022 HEVO Production Go - Live
Slide 25: Milestones
ALL RIG HT S BELONG TO FUSION - FUEL 05 – MILESTONES
Slide 26: 2022 Milestones
ALL RIG HT S BELONG TO FUSION - FUEL 05 – 2022 MILESTONES 26 2 – 3 – 1 – 4 – HPA, SALES & GRANTS o Fill 2022 and 2023 pipeline with confirmed orders x Secure grants for company - owned plants and for third - party projects TECH DEVELOPMENT x Launch next gens of HEVO and HEVO - Solar ▪ Introduce O 2
Slide 27: Q&A
Q &A