Bergen Carbon Solutions AS · OSL:BCS
Bergen Carbon Solutions AS — Q1 2022 Earnings Presentation
23 slides from Bergen Carbon Solutions AS's earnings presentation, Apr 28, 2022
Slide 1: Company Update
COMPANY UPDATE April 28 2022
Slide 2: Disclaimer
DISCLAIMER This Company Presentation (the “Presentation”) has been produced by Bergen Carbon Solutions AS (the “Company” or "BCS"). The Presentation has been prepared for information purposes only, and does not constitute or form part of, and should not be construed as, any offer, invitation or reco
Slide 3: Agenda
AGENDA Q1 highlights About Bergen Carbon Solutions Factory Mosjøen 3
Slide 4: Q1 Highlights
BERGEN @) CARBON SOLUTIONS Q1 HIGHLIGHTS
Slide 5: Highlights Q1
Highlights Q1 Highlights Financial results and financing (MNOK) ▪ LOI with Beyonder: Good result from battery test. • Revenue and other income 0.2 Different wt% of CNF were tested, and the result have shown that by adding our carbon nanofibers they • Operating profit -12.5 increased the battery perf
Slide 6: Financial highlights
Financial highlights Key figures Q1 Q1 Amounts in NOK thousands 2022 2021 Total revenue and other income 218 96 Total operating expenses 12 712 3 765 Operating profit (loss) -12 494 -3 669 Net profit (loss) for the period before tax -12 741 -3 688 Net change in cash and cash equivalents 302 742 27 4
Slide 7: Our second factory: Høyanger
SIGNED OPTION AGREEMENT OUR SECOND FACTORY: HØYANGER SKILLED ELECTRIC SUFFICIENT LABOUR INDUSTRY HYDROPOWER Located in Høyanger, which is a modern industrial society that has grown in step with Hydro Aluminium Modern infrastructure where all relevant service functions are available Access to skilled
Slide 8: Test Center Flesland
OPERATIONS TEST CENTER FLESLAND Sanitizing to temporary impact production on Flesland On Friday 8th April, a design flaw in the ventilation system between a mechanical workshop and the production hall was detected. The ventilation installed by a third-party installer that was intended to be expelled
Slide 9: Temporary impact
PROJECT UPDATE TEMPORARY IMPACT The temporary impact on our TEST CENTER FLESLAND has not allowed us to finalize the installation of the production container for our BIR- project and the last two “Diegel 2.0” production units, that will be installed in our TEST CENTER. All parts are in place to compl
Slide 10: About Bergen Carbon Solutions
ABOUT BERGEN CARBON SOLUTIONS 10
Slide 11: Bergen Carbon Solutions at a glance
ABOUT BERGEN CARBON SOLUTIONS Bergen Carbon Solutions at a glance KEY FACTS Founded in 2016 Producer of carbon nanofibers Located in Bergen and Mosjøen, Norway Competent team of engineers and PhDs Unique and green technology Acquired commercial production site <35 full time employees Listed on Euron
Slide 12: We use CO2 to create carbon nanofibers
ABOUT BERGEN CARBON SOLUTIONS WE USE CO2 TO CREATE CARBON NANOFIBERS ◊ Lighter than plastic, stronger than steel, with exceptional thermal and electrical conductivity, properties that can be transferred when combined with other materials ◊ Estimated CAGR of ~30% towards 20241,2, covering a wide rang
Slide 13: Production method
ABOUT BERGEN CARBON SOLUTIONS PRODUCTION METHOD Our technology is using CO2 as Oxygen (O2) is emitted through a vented feedstock in CNF production duct in the production module CO2 CO2 O2 An electrolysis process break the The carbon is filtrated in a chemical bonding. Carbon (C) can patented filtrat
Slide 14: Our technology is climate positive and uses significantly less energy
ABOUT BERGEN CARBON SOLUTIONS Our technology is climate positive and uses significantly less energy than conventional methods Bergen Carbon Solutions Traditional Method Positive CO2 impact Negative CO2 impact Avg. Avg. CO2 150 kWh O2 CH4 1400 kWh CO2 /kg CNF /kg CNF O2 CO2 O2 CO2 Substrate Heating e
Slide 15: Zero emission products enabling a low carbon footprint
ABOUT BERGEN CARBON SOLUTIONS Zero emission We have started pre-engineering full-scale Converting CO2 into CNF will positively contribute factory production units. We are expecting to UN’s Sustainable the market to growDevelopment Goals rapidly, and the products enabling a potential scale benefits o
Slide 16: Carbon Nanofiber (CNF) application areas
APPLICATION AREAS Selected application areas Carbon Nanofiber (CNF) CNF is used for a variety of applications such as additive to composite, lithium-based batteries, supercapacitors and solar desalinations with mostly a clear environmental positive impact ◊ A black powder that has been evolving sinc
Slide 17: Small improvement in battery performance, can significantly impact global emissions
SELECTED SEGMENT: BATTERIES (NORCE) Weight Small improvement in battery performance, can significantly - 40%2 impact global emissions 1 No additive With CNF ◊ CO2 emission may increase by a factor of 10 within a decade unless production technologies improve ◊ CNF-potential for currently dominating g
Slide 18: Scaling and cost reduction are keys to market adoption
NORCE-REPORT: KEY TAKEAWAYS (3) Scaling and cost reduction are keys to market adoption1 ◊ Full market penetration of CNF/CNT requires fast upscale of production capacity OPEX CAPEX and industrial scale adoption in new products ◊ Technology for upscaling CNF/CNT production capacity and reducing costs
Slide 19: Factory Mosjøen
BERGEN @) CARBON SOLUTIONS FACTORY MOSJ@EN
Slide 20: Fully automated factory design
FACTORY MOSJØEN FULLY AUTOMATED FACTORY DESIGN • The production process is fully automated in a modular design. Allowing us to easily increase the production capacity at the factory if needed. • Our new factory design is based on the principals of our “Diegel 2.0” which is already proven at our test
Slide 21: Lead time risk
FACTORY MOSJØEN LEAD TIME RISK • Due to the current supply situation, we have reduced the lead time risk by implementing industry-standard components that will be easier to replace, if needed, than tailor-made components. • Included in the new factory design is a fully automated purification process
Slide 22: Timeline Factory Mosjøen
CONCEPT STUDY: FACTORY MOSJØEN TIMELINE FACTORY MOSJØEN 1H 2023 June 2022 Ramping up production Final investment decision Q4 2023 July 2022 Full scale commercial Construction start production Factory Mosjøen 22
Slide 23: Bergen Carbon Solutions
BERGEN CARBON SOLUTIONS
Bergen Carbon Solutions AS — Q1 2022 Earnings Presentation on 6ix