Fusion Fuel Green Plc · NASDAQ:HTOO
Fusion Fuel Green — Q2 2022 Earnings Presentation
23 slides from Fusion Fuel Green's earnings presentation, Sep 8, 2022
Slide 1: Second Quarter 2022 Results
Second Quarter 2022 Results 8 September 2022
Slide 2: Disclaimer
ALL RIGHTS 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 Unit
Slide 3: Agenda
ALL RIGHTS BELONG TO FUSION - FUEL AGENDA ▪ Chairman’s Remarks ▪ Focus on Fusion ▪ Q2 Financials & Highlights ▪ Production & Tech ▪ Commercial Update • Growth Strategy • Commercial Platforms • Market Expansion ▪ 2022 Milestones ▪ Q&A
Slide 4: Focus on Fusion
ALL RIGHTS BELONG TO FUSION - FUEL 01 – FOCUS ON FUSION
Slide 5: Fusion Fuel: A Leading Pure Play Hydrogen Technology Company
ALL RIGHTS 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 application
Slide 6: Significant Value Disconnect, Attractive Relative Entry Price
ALL RIGHTS BELONG TO FUSION - FUEL 01 – SIGNIFICANT VALUE DISCONNECT, ATTRACTIVE RELATIVE ENTRY PRICE Source: S&P Capital IQ Note: Values as of August 24, 2022 close 6 Vertically Integrated Players 0.8x 9.2x 25.6x 12.8x 7.8x 8.7x 8.3x 3.9x 0.4x 6.1x 9.9x 8.0x 3.5x 5.6x 5.9x 3.0x TEV / 2023E Revenue
Slide 7: Q2 Highlights & Financial Review
ALL RIGHTS BELONG TO FUSION - FUEL 02 – Q2 HIGHLIGHTS & FINANCIAL REVIEW
Slide 8: Second Quarter Highlights
ALL RIGHTS BELONG TO FUSION - FUEL Key Developments ▪ Launch of HEVO production line at Benavente factory ▪ Executed commercial & technical MOU with Toshiba ESS ▪ Received notification of approval for grant funding from C - 5 of PRR ; negotiations on total grant amount are ongoing Subsequent Event
Slide 9: Financial Data (Unaudited)
ALL RIGHTS BELONG TO FUSION - FUEL 02 – FINANCIAL DATA (UNAUDITED) KEY FINANCIALS & FIGURES (€000’S) (Unaudited) Q2 2022 Q1 2022 o/w share - based payment (non - cash) expenses 1 (954) (802) o/w operating expenses 2 (3,943) (3,037) OPERATING (LOSS) INCOME (4,897) (3,839) o/w fair value movemen
Slide 10: At the Market Offering and Financial Notes
ALL RIGHTS 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 the
Slide 11: Liquidity Update – Subsequent to June 30, 2022
ALL RIGHTS BELONG TO FUSION - FUEL LIQUIDITY UPDATE – SUBSEQUENT TO JUNE 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 - Industria 3 10,0
Slide 12: Technology Update
ALL RIGHTS BELONG TO FUSION - FUEL 03 – TECHNOLOGY UPDATE
Slide 13: Tech Evolution and Independent Validation
ALL RIGHTS BELONG TO FUSION - FUEL 03 – TECH EVOLUTION AND INDEPENDENT VALIDATION 13 Black & Veatch recently completed an independent assessment of Fusion Fuel and our HEVO - SOLAR technology . That report is being proactively shared with prospective strategic partners, customers, and off - takers .
Slide 14: Commercial Update
ALL RIGHTS BELONG TO FUSION - FUEL 04 – COMMERCIAL UPDATE
Slide 15: Delivering on Our Commercial Strategy
ALL RIGHTS BELONG TO FUSION - FUEL 04 – DELIVERING ON OUR COMMERCIAL STRATEGY 15 1. Champion Portugal by executing development projects tied to grants ▪ 3,700+ units that have secured or finalizing grants to fill out remaining 2023 and partial 2024 production 2. Finalize negotiations and/or secure g
Slide 16: Our Competitive Advantage: A Decentralized, Scale-Agnostic Approach
ALL RIG HT S BELONG TO FUSION - FUEL 04 – OUR COMPETITIVE ADVANTAGE: A DECENTRALIZED, SCALE - AGNOSTIC APPROACH 1 Bloomberg natural gas strip pricing as of September 1, 2022 (Henry Hub: US$9.29/MMBtu; Dutch TTF: €71.22 /MMBtu) 2 S&P Platts Hydrogen Price Wall as of July 2022 (US Gulf PEM monthly ave
Slide 17: Technology Provider, Green Hydrogen Supplier, Mobility-as-a-Service
ALL RIG HT S BELONG TO FUSION - FUEL Technology Provider ▪ Turnkey gH 2 solution customized for clients needs, with compression, purification, storage, distribution and dispensing at 350 / 700 bar ▪ Commercial even at small - scale deployments Green Hydrogen Supplier ▪ Providing cost - competitive g
Slide 18: Projects Under Development
ALL RIG HT S BELONG TO FUSION - FUEL Projects Under Development Project Location Vertical Capacity (tonnes/year) Grants (€ million) Status COD HEVO - SUL Sines + 419 €4.29 (secured) Pre - FEED 1H 2024 HEVO - Industria Sines + 764 €10 (secured) Pre - FEED 1H 2024 GreenGas Phase II Évora 99 TBC Concep
Slide 19: Building on Our Successes: 2023 Tech Sale Backlog
ALL RIG HT S BELONG TO FUSION - FUEL 04 – BUILDING ON OUR SUCCESSES: 2023 TECH SALE BACKLOG Project Vertical Location # of HEVO - Solar Units Capacity (tonnes/year) Type of Sale Est. Tech Sale Revenue Status COD KEME Portugal 62 77 Tech Sale ~€1,950,000 Contract Signed 1H 2023 Confidential Spain 22
Slide 20: Hydrogen Tax Credits
ALL RIG HT S BELONG TO FUSION - FUEL 20 Hydrogen Tax Credits 1 Production tax credits of up to $ 3 / kg can be claimed for 10 years on hydrogen produced ; or an investment tax credit of up to 30 % can be claimed on the cost of the hydrogen plant . Solar Tax Credits The solar generating facility will
Slide 21: Milestones
ALL RIGHTS BELONG TO FUSION - FUEL 05 – MILESTONES
Slide 22: 2022 Milestones
ALL RIG HT S BELONG TO FUSION - FUEL 05 – 2022 MILESTONES 22 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 23: Q&A
Q&A