Enapter Ag · XETR:H2O
Enapter — Investor Presentation (October 2023)
37 slides from Enapter's investor presentation, Oct 11, 2023
Slide 1: Investing in the Commercial Leader in AEM Electrolysers
Investing in the Commercial Leader in AEM Electrolysers for Production of Green Hydrogen Smart. Simple. Scalable. Investor Presentation | September 2023 1
Slide 2: Disclaimer
Legal DISCLAIME R Disclaimer THE INFORMATION CONTAINED IN THIS PRESENTATION IS CONFIDENTIAL INFORMATION. ACCORDINGLY, THE INFORMATION INCLUDED HEREIN MAY NOT BE REFERRED TO, QUOTED OR OTHERWISE DIRECTLY DISCLOSED BY YOU. BY REVIEWING THIS INFORMATION, YOU ARE ACKNOWLEDGING THE CONFIDENTIAL NATURE OF
Slide 3: Content
Content 1. Introduction & vision 2. Investment highlights 3. Financials 4. Appendix 3
Slide 4: 1. Introduction and vision
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Slide 5: Enapter at a glance
INTRODUCTION LEADERSHIP GO TO MARKET MARKET GROWTH UNIT ECONOMICS ESG FINANCIALS IN VE STME NT HIGHLIGHTS Enapter at a glance Registered office: Heidelberg, DE Stock exchange: Frankfurt / Initiated in November 2017 by serial entrepreneur Sebastian-Justus Revenue growth 15 Hamburg Schmidt, with a mis
Slide 6: Experienced founder-led management team
INTRODUCTION LEADERSHIP GO TO MARKET MARKET GROWTH UNIT ECONOMICS ESG FINANCIALS MANAGEMENT Experienced founder-led management team SEBASTIAN-JUSTUS SCHMIDT Co-Founder, CEO (Executive Board) DR. JÜRGEN LAAKMANN CEO (Executive Board) Founder and CEO of SPB Software, which was acquired in 2011 by US-l
Slide 7: Our vision and mission
INTRODUCTION LEADERSHIP GO TO MARKET MARKET GROWTH UNIT ECONOMICS ESG FINANCIALS COMPANY DNA Our vision To live in a world where fossil fuels are no longer used and green hydrogen fuels and powers the world via renewable energy sources. Our mission To make green hydrogen affordable and accessible to
Slide 8: 2. Investment highlights
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Slide 9: Investment highlights
INVESTMENT HIGHLIGHTS Investment highlights 1. Leadership: Commercial leader in AEM electrolysis with strong patent & technology 2. Go to market: Best-in-class: Delivered more than 3k of AEM electrolysers worldwide 3. Market growth: The market for green hydrogen is entering a phase of extraordinary
Slide 10: Electrolysis – Using electricity to split water into hydrogen and oxygen
INTRODUCTION LEADERSHIP GO TO MARKET MARKET GROWTH UNIT ECONOMICS ESG FINANCIALS LE ADE RSHIP Electrolysis – Using electricity to split water into hydrogen and oxygen Electrolysis takes place in an electrolyser Anion Exchange Membrane (AEM) Electrolysis Electrolysis splits water (H2O) into hydro
Slide 11: AEM is a patented next-gen technology, combining Alkaline and PEM benefits
INTRODUCTION LEADERSHIP GO TO MARKET MARKET GROWTH UNIT ECONOMICS ESG FINANCIALS LE ADE RSHIP AEM is a patented next-gen technology, bringing together the benefits of Alkaline and PEM electrolysers Alkaline AEM PEM + + + ≡ Low cost ≡ Low cost ≡ Dynamic response ≡ Better efficiency ≡ Best efficiency
Slide 12: AEM has the potential to be the most inexpensive way to produce green hydrogen
INTRODUCTION LEADERSHIP GO TO MARKET MARKET GROWTH UNIT ECONOMICS ESG FINANCIALS LE ADE RSHIP AEM has the potential to be the most inexpensive way to produce green hydrogen in 2030 Strong cost proposition Expected capital cost per electrolyser technology in 2030 (in EUR per kW)1 Enapter’s AEM elec
Slide 13: Enapter is the only commercial player in AEM electrolysers
INTRODUCTION LEADERSHIP GO TO MARKET MARKET GROWTH UNIT ECONOMICS ESG FINANCIALS LE ADE RSHIP Enapter is the only commercial player in AEM electrolysers, the pre-eminent next-generation technology Core technology advantage Solid AEM NEXT-GEN TECHNOLOGY Technology leader in AEM Oxide The only AEM
Slide 14: Enapter's global product traction
INTRODUCTION LEADERSHIP GO TO MARKET MARKET GROWTH UNIT ECONOMICS ESG FINANCIALS GO TO MARKET Enapter’s global product traction: Thousands electrolyers ordered from around the globe 5,000+ electrolysers ordered by 350+ customers across 50+ countries so far We have more than 120+ integration partners
Slide 15: Enapter's four focus segments
INTRODUCTION LEADERSHIP GO TO MARKET MARKET GROWTH UNIT ECONOMICS ESG FINANCIALS GO TO MARKET Enapter’s four focus segments Electricity can be converted into hydrogen in order to be stored over extended Energy time periods. Our clients use our ELs to bring power to remote communities, stabilise the
Slide 16: Select clients, partners and certified partners
INTRODUCTION LEADERSHIP GO TO MARKET MARKET GROWTH UNIT ECONOMICS ESG FINANCIALS CUSTOMERS PER USE CASE Select clients, partners and certified partners Research 9% Industrial l Applications 18% Distribution of total Energy order value 51% etc. Storage (2020-23, in % of MEUR) Mobility 22% etc. …and m
Slide 17: Expected growth in green hydrogen market until 2030
INTRODUCTION LEADERSHIP GO TO MARKET MARKET GROWTH UNIT ECONOMICS ESG FINANCIALS MARKET OPPORTUNITY Expected growth in green hydrogen market until 2030 550 550 GW All market analysts predict explosive growth in the green hydrogen market from now to 500 2030. 450 Estimates for the Compound Annual 400
Slide 18: Modular systems scale faster
INTRODUCTION LEADERSHIP GO TO MARKET MARKET GROWTH UNIT ECONOMICS ESG FINANCIALS UNIT ECONOMICS Modular systems scale faster today In the past In the past tomorrow 18
Slide 19: Modular AEM stacks for single- and multi-core applications
INTRODUCTION LEADERSHIP GO TO MARKET MARKET GROWTH UNIT ECONOMICS ESG FINANCIALS UNIT ECONOMICS Modular AEM stacks for single- and multi-core applications The AEM stack module is the center piece of our product platform, our minimum modular unit (MMU). The AEM stacks can power a compact and modular
Slide 20: AEM Multicore
INTRODUCTION LEADERSHIP GO TO MARKET MARKET GROWTH UNIT ECONOMICS ESG FINANCIALS UNIT ECONOMICS AEM Multicore Our AEM Multicore is a megawatt-class electrolyser system stacking hundreds of AEM Electrolyser cores around a common balance of plant. Built-in redundancy for green hydrogen that never slee
Slide 21: Customer references for MW class systems
INTRODUCTION LEADERSHIP GO TO MARKET MARKET GROWTH UNIT ECONOMICS ESG FINANCIALS UNIT ECONOMICS Customer references for MW class systems Braunschweig Research Airport, a leading competence centre for mobility in Europe Hydrogen filling station in the Netherlands Make Prince Edward Island (Cana
Slide 22: Order backlog doubled in the last year to EUR 26.8m
INTRODUCTION LEADERSHIP GO TO MARKET MARKET GROWTH UNIT ECONOMICS ESG FINANCIALS UNIT ECONOMICS Order backlog doubled in the last year to EUR 26.8m EUR 26.8m contracted revenue in the order backlog as of Order backlog development and backlog growth rates beginning of October 2023 Strong pipeline
Slide 23: Customer enquiries have almost tripled since the beginning of Q1/2023
INTRODUCTION LEADERSHIP GO TO MARKET MARKET GROWTH UNIT ECONOMICS ESG FINANCIALS UNIT ECONOMICS Customers enquiries have almost tripled since the beginning of Q1/2023 Enapter is experiencing a continuous increase in demand, Quarterly development of customer enquiries (at beginning of quarter, in M
Slide 24: Award winning for sustainable approach
INTRODUCTION LEADERSHIP GO TO MARKET MARKET GROWTH UNIT ECONOMICS ESG FINANCIALS E SG Award winning for sustainable approach Winner of the Earthshot Prize I am honoured to introduce the Selected by Fast Company The world’s most innovative in the Category “Fix Our Climate” innovators, leaders, and vi
Slide 25: Life Cycle Impact Zero
INTRODUCTION LEADERSHIP GO TO MARKET MARKET GROWTH UNIT ECONOMICS ESG FINANCIALS ESG We lead by example on sustainable industrial production with a concept that we call Life Cycle Impact Zero. What is Life Cycle Impact Zero? We're positioning for sustainable industrial mass production. Enapter calls
Slide 26: A company powered by renewable energies
INTRODUCTION LEADERSHIP GO TO MARKET MARKET GROWTH UNIT ECONOMICS ESG FINANCIALS ESG A company powered by renewable energies Saerbeck 100% Mass production plant powered by renewable energies Pisa Production plant 53% powered by renewable energies 26
Slide 27: Circular Economy
INTRODUCTION LEADERSHIP GO TO MARKET MARKET GROWTH UNIT ECONOMICS ESG FINANCIALS ESG Circular Economy As a product manufacturer, the biggest positive impact we can have on the environment is to handle natural resources carefully. This is why we aim to make our production as circular as possible. We
Slide 28: Code of Conduct and employees
INTRODUCTION LEADERSHIP GO TO MARKET MARKET GROWTH UNIT ECONOMICS ESG FINANCIALS ESG We are fully committed to our Code of Conduct to set high ethical standards in working with our partners. We truly value our colleagues. We prioritize their well-being and development, fostering open communication a
Slide 29: 3. Financials
3. Financials 29
Slide 30: Historical & projected revenue development
INTRODUCTION LEADERSHIP GO TO MARKET MARKET GROWTH UNIT ECONOMICS ESG FINANCIALS FINANCIALS Historical & projected revenue development Broker research estimates* Revenue (€m) EUR 14.7m 2.1 8.4 14.7 30.0 n.a. n.a. n.a. Total revenue in FY22A - - - 30.7 57.0 111.0 262.6 - - - 30.2 58.5 147.7 281.1 75%
Slide 31: Historical & projected EBITDA development
INTRODUCTION LEADERSHIP GO TO MARKET MARKET GROWTH UNIT ECONOMICS ESG FINANCIALS FINANCIALS Historical & projected EBITDA development Broker research estimates* EBITDA (€m) (2.9) (7.6) (10.6) (10.5) n.a. n.a. n.a. Economies of scale in production ensure better margin. - - - (8.8) 2.2 7.0 33.6 - - -
Slide 32: Investment highlights
INVESTMENT HIGHLIGHTS Investment highlights 1. Leadership: Commercial leader in AEM electrolysis with strong patent & technology 2. Go to market: Best-in-class: Delivered more than 3k of AEM electrolysers worldwide 3. Market growth: The market for green hydrogen is entering a phase of extraordinary
Slide 33: 4. Appendix
4. Appendix 33
Slide 34: Inauguration of the world's first megawatt-class AEM electrolyser
APPE NDIX Inauguration of the world’s first megawatt-class AEM electrolyser 34
Slide 35: Supervisory board
APPE NDIX Supervisory board Supervisory board Armin Steiner Oswald Werle Ragnar Kruse Prof. Dr. Christof Wetter SB Chairman, Enapter SB Dep. Chairman, Enapter SB Member, Enapter SB Member, Enapter SB Member, zoo.de SB Member, Alpega Group Co-Founder, AI.HAMBURG SB Member, 2G Ex-CFO, Beta System Form
Slide 36: Financial calendar 2023/2024
APPE NDIX Financial calendar 2023/2024 Event Date Launch of the AEM FLEX 120 in Saerbeck September 2023 Participation at Deutsches November 2023 Eigenkapitalforum / Equity Forum in Frankfurt Annual Report April 2024 36
Slide 37: Investor Relations
Investor Relations ir@enapter.com https://enapterag.de/investor-relations/ @enapter @enapter youtube.com/enapter @enapterenergystorage @enapter @enapter 37 www.enapter.com