Hydrogenpro Asa · OSL:HYPRO
Hydrogenpro Asa — Q2 2023 Earnings Presentation
24 slides from Hydrogenpro Asa's earnings presentation, Aug 15, 2023
Slide 1: Q2 2023 presentation
Pure Performance Pure Efficiency Pure Power Q2 2023 presentation: Delivering strong results in technology development, revenue, and manufacturing, creating a solid foundation for further global expansion 15 August 2023 CEO Jarle Dragvik Head of Technology Richard Espeseth
Slide 2: Disclaimer
Disclaimer This presentation contains forward-looking statements and information, including assumptions, opinions and views of the Company or third-party sources, and are solely opinions and forecasts which are subject to risks, uncertainties and other factors that may cause actual results and event
Slide 3: Agenda
Agenda I. Highlights and financial update II. Revised priorities III. Technology update
Slide 4: HydrogenPro is a global provider of market-leading, large-scale green hydrogen technology & systems
HydrogenPro is a global provider of market-leading, large- scale green hydrogen technology & systems 1 The world’s largest electrolyser Market-leading levelised 2 cost of hydrogen Game-changing electrode technology 4
Slide 5: Revised priorities to accelerate expansion and grow shareholder value
Revised priorities to accelerate expansion and grow shareholder value 1. Seek alternative funding sources and partnerships to reduce need of issuing new shares in current market 2. Utilize current investor interest in green hydrogen in the US 3. Demonstrate HydrogenPro’s market leading efficiency 4.
Slide 6: I. Highlights and financials
I. Highlights and financials
Slide 7: Achievements and major developments
Achievements and major developments 1 2 3 Revenues of NOK 137 Gross margin of 21.6%, Completed private placement million up 64 % from Q1 stable development of NOK 120 million for initial 2023 from Q1 20231 phase of US expansion 4 5 Test of 3rd gen technology HydrogenPro and ANDRITZ shows results in
Slide 8: Subsequent achievements and major developments
Subsequent achievements and major developments 6 7 8 Manufacturing capacity FEED-study contract with DG Fuels FEL 3 study for increased from ANDRITZ on 200 MW 839 MW Louisiana plant 300 MW to 500 MW factory, expected FID Q1 2024 fully financed and initiated 9 Strategic change of CEO to fully throttl
Slide 9: Q2 2023 financials
Q2 2023 financials UNAUDITED FIGURES Revenues Gross profit Adj. EBITDA1 (NOK mill) (NOK mill) (NOK mill) Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 137 -4 30 83 -16 13 -20 25 15 3 4 -27 8 0 -34 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 • Net profit of NOK 6.5 milli
Slide 10: Q2 2023 financials
Q2 2023 financials UNAUDITED FIGURES Cash balance Net investments Change in cash balance (NOK mill) (NOK mill) (NOK mill) 435 20 20 343 257 208 183 9 6 5 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 • Completed private placement of NOK 120 million (net proceeds NOK
Slide 11: Delivering to projects across geographies and industries
Delivering to projects across geographies and industries Porsgrunn, Norway Kokkola, Finland Test facility, operational Woikoski, Power-to-X, operational 240 Awarded Kristinestad, Finland Koppö [ANDRITZ], power-to-X, FEED >1255 FEED 9 Northern Europe Undisclosed energy company, green 5.5 steel, FEED
Slide 12: II. Revised priorities
Il. Revised priorities ‘Aydrogen pro
Slide 13: 1. Seek alternative funding sources
1. Seek alternative funding sources Why? How? 1 Initiate new, long-term partnerships and joint Fund expansion with a reduced need for ventures, as well as maintaining and further raising equity capital through the issuance develop existing partnerships of new shares in the current market, thus achie
Slide 14: 2. Utilize current US investor interest in green hydrogen
2. Utilize current US investor interest in green hydrogen Why? How? 1 The US has taken a leading role in Seek a possible listing for the Company's developing green hydrogen with its federal shares at the Nasdaq stock exchange in New stimulation package (IRA) combined with York numerous state-based i
Slide 15: 3. Demonstrate HydrogenPro's market leading efficiency
3. Demonstrate HydrogenPro’s market leading efficiency PEM Alkaline Alkaline High Atmospheric High Alkaline high pressure pressure pressure pressure Plant efficiency Low Medium Medium High To be considered a viable option in the future, the cost of green hydrogen must be Suitable for renewable energ
Slide 16: 4. Accelerate the build-up of a global leading position
4. Accelerate the build-up of a global leading position Why? The green hydrogen market moves fast with 232 GW of electrolysis capacity announced to be operational by 2030 – representing a 300-fold growth in the next seven years1. HydrogenPro must be positioned for take-off. How? 1 Ownership to all I
Slide 17: 5. Maintain position as technology leader
5. Maintain position as technology leader Why? 3rd Gen show significant efficiency improvements: 1000 hours tests ▪ 850 hours completed HydrogenPro’s 3rd gen electrolyser puts us one step in containerized Results in line with 14 % ▪ electrolyser expectations ahead. The electrolysis industry is a cos
Slide 18: 6. Adapt and develop the organization
6. Adapt and develop the organization Why? How? 1 The market is fast-moving and political Jarle Dragvik new CEO stimulation packages change the premises rapidly. Proven successful partnerships 2 utilize HydrogenPro’s scalable model Build a high-performing organisation: It’s all about globally. Furth
Slide 19: Why change priorities? Sustain and develop shareholder value
Why change priorities? Sustain and develop shareholder value Sustaining and developing value for our shareholders is of essence 1 Seek a possible listing at the Nasdaq stock exchange The company has seen the need for revising its strategic priorities and has 2 chosen to increase presence and focus h
Slide 20: III. Technology update
lll. Technology update ‘Aydrogen pro
Slide 21: Continuous progress on 3rd generation electrolyser
Continuous progress on 3rd generation electrolyser Conducted 1000-hour test Indicative results in line with expectations: Test interrupted after 850 hours due to malfunctioning 3rd party electrical equipment 14 % 75 % lower electricity reduction in water Initial test results in line with expectation
Slide 22: Large increase in production capacity at Tianjin plant
Large increase in production capacity at Tianjin plant Meeting global demand with enhanced manufacturing capacity • Positions HydrogenPro to meet escalating international demand • De-bottlenecking and line optimization • 40 advanced electrolysers to Mitsubishi in delivery • Product delivery to be co
Slide 23: HydrogenPro/ANDRITZ partnership yields first FEED contract
HydrogenPro/ANDRITZ partnership yields first FEED contract April ‘23 HydrogenPro and ANDRITZ enters strategic Model of an ANDRITZ hydrogen plant with HydrogenPro electrolysers partnership, where HydrogenPro’s electrolysers are integrated to ANDRITZ’s EPC offerings. July 25th, ‘23 ANDRITZ secures a F
Slide 24: Provider of large-scale green hydrogen technology & systems
#1 provider of large-scale green hydrogen technology & systems