Ads-tec Energy Plc · NASDAQ:ADSE
Ads-tec Energy — SPAC Merger (August 2021)
43 slides from Ads-tec Energy's SPAC merger presentation, Aug 13, 2021
Slide 1: ads-tec Energy Investor presentation August 2021
M i ta rbei ter k ü r z el ads - tec Energy Investor presentation Au g u s t 2021
Slide 2: Disclaimer
M i ta rbei ter k ü r z el Disclaimer This investor presentation (this “Investor Presentation”) has been prepared by ads - tec Energy GmbH (collectively comprising the operating subsidiaries of ads - tec Energy GmbH referred to herein as the “Company”)) and EUSG (the “SPAC”) in connection with the p
Slide 3: Use of Non-GAAP Financial Measures
M i ta rbei ter k ü r z el Use of Non - GAAP Financial Measures This Investor Presentation includes certain financial measures not presented in accordance with IFRS, including, but not limited to, EBITDA and certain ratios and other metrics derived therefrom. These non - IFRS financial measures are
Slide 4: Transaction summary
M i ta rbei ter k ü r z el Transaction summary 4 Sources $m Uses $m Equity roll - over 244 Equity roll - over 244 EUSG cash in trust 144 Founder shares 36 PIPE proceeds 156 Cash to balance sheet (3) 224 Founders shares 36 Debt repayment (4) 32 Partial cash out of Bosch minority stake 24 Transaction
Slide 5: ads-tec Energy / EUSG key people
M i ta rbei ter k ü r z el ads - tec Energy Thijs Hovers C o - CEO EUSG Pie ter Ta se la ar C o - CEO EUS G , Dire c tor Elain e W e id ma n Grunewald Director – ESG Ba z m i Hus a in Senio r Ad v i s o r La rs Thunell Chairman, Director Kara n Trehan President, Director ads - tec Energy / EUSG key
Slide 6: Technology leader in ultra-fast DC charging
M i ta rbei ter k ü r z el Technology leader in ultra - fast DC charging • Ultra - fast 320 kW power battery buffered DC charging, allowing charging in minutes even on low powered 30 kW grid connection • Battery buffered solution offers lower total cost of ownership vs. expanding grid off the highwa
Slide 7: ESG at the heart of our business
M i ta rbei ter k ü r z el ESG at the heart of our business En v ironm e nt Member and industrial sponsor of clean battery research initiative Driving the transition to a low carbon economy with key enabling technology addressing customer needs and overcoming real world restrictions Reduction of CO
Slide 8: Accelerating the transition to clean energy and decarbonisation
M i ta rbei ter k ü r z el Accelerating the transition to clean energy and decarbonisation Climate change innovation at the heart of ads - tec Energy’s mission and values “Top Innovator” in the advancement of climate protection. The award was based on a global innovation study on patents > 5 0 c l e
Slide 9: ads-tec Energy's key differentiators
M i ta rbei ter k ü r z el ads - tec Energy’s key differentiators 9 Defensible technology with IP protection 2 >50 essential c l e a n - tech p a te n ts registered 2021 “ Top innovator” for Climate Protection Technologies 1 Ultra - high power DC charging in minutes even on low power grids Boosted t
Slide 10: Battery buffered ultra-fast charging is a key enabler for EV adoption
M i ta rbei ter k ü r z el Battery buffered ultra - fast charging is a key enabler for EV adoption With increasing EV adoption there is a need for battery - based ultra - fast charging 10 Relative low installation costs of battery buffered UHP chargers allow easy transfer to most attractive location
Slide 11: Where does the power and energy come from to charge electric vehicles?
M i ta rbei ter k ü r z el Where does the Power and Energy come from to charge all these upcoming electric vehicles? 11 Energy (kWh) ► It takes a long time to fill the same basin (car battery) with the same amount of water (Energy) using “low power” and a very short time to fill it with high power ►
Slide 12: EV charging platform built to be future proof
M i ta rbei ter k ü r z el ads - tec Energy’s EV charging platform is built to be future proof - benefitting from improvements in battery technology and insufficient grid infrastructure 12 Grid power will remain the bottleneck to ultra - fast EV charging Battery’s technology & performances are impro
Slide 13: Future proof technology to charge BEVs in minutes
M i ta rbei ter k ü r z el Future proof technology to charge BEVs in minutes With our technology current and new BEVs can charge as fast as the car allows 13 Sources: EV - Database.org, company data Notes: (1) Illustrative selection, model specifications and figures based on EV - database.org; (2) E
Slide 14: ChargeBox, ChargePost and ChargeTrailer
M i ta rbei ter k ü r z el ChargeBox (320kW) ChargePost (300kW) L i quid cooled DC cable Co m ple te l y noiseless CBX can be built at a distance of up to 100 meters from dispenser Up to 320 kW DC charging power Up to 85’’ ad v e rt is ing display up to two DC outlets Battery capacity up to ~ 200 kW
Slide 15: Patent portfolio provides strong protection for key technologies
M i ta rbei ter k ü r z el Patent portfolio provides strong protection for key technologies Battery buffered energy systems Key technological advantages Enabled by a highly integrated technology Award winning IP (>50 patents) 1 Battery module Inverter tec hnology 2 3 HVAC and System Design Technolog
Slide 16: Ultra-fast DC chargers are critical to meet EV demand
M i ta rbei ter k ü r z el 16 Sources: Eurelectric, Bloomberg NEF Note: (1) Calculated for new # of public and commercial connectors >150kW in 2020 multiplied by the average 2020 hardware cost per connector per power output (excl. China), Bloomberg NEF; Cumulative global connectors for public and co
Slide 17: Future-proof charging solutions enabling ultra-fast charging everywhere
M i ta rbei ter k ü r z el 17 “Future - proof” charging solutions enabling ultra - fast charging everywhere R e s iden t ial U rban H igh w ay R ural Comm e r c i a l “Charging - on - the - go” will be relevant to all segments and locations
Slide 18: Universe of potential customers for DC ultra-fast charging increasing
M i ta rbei ter k ü r z el Universe of potential customers for DC ultra - fast charging increasing Ultimate opportunity Convenience is going to be the next big hurdle for electric vehicles, beyond these early adopters who think it’s cool to hang around a charging station for an hour and talk about t
Slide 19: Reviews from industry leading brands
M i ta rbei ter k ü r z el Reviews from industry leading brands Selected reviews TEAGs first HPC in Thuringia We have now used the trucks mobile ChargeTrailer at numerous events all over Europe and have carried out around 5,000 charging operations – sometimes at extreme temperatures down to minus 40
Slide 20: Proven capabilities with existing customers
M i ta rbei ter k ü r z el Proven capabilities with existing customers Certified ChargeBox in Europe and US Existing & replicable manufacturing capabilities ads - tec Energy has a mature technology > 900 UHP Dispensers delivered > 430 Ch a r g e B o x e s delivered Established and proven production
Slide 21: Player of existing scale; combining DC with grid's limitations
M i ta rbei ter k ü r z el $54m $59m $38m $26m $25m $24m $14m $8m $6m $6m Player of existing scale; combining DC with grid’s limitations 21 Boosting grid performance with integrated battery Players in the EV charging value chain (Revenue 2020A) (1) $146m $80m Sources: CapIQ as per 29/07/2021, invest
Slide 22: Strong long-term growth in EV vehicles across Europe and US
M i ta rbei ter k ü r z el Strong long - term growth in EV vehicles across Europe and US Sources: Bloomberg NEF Notes: (1) Average internal combustion engine (ICE) price based on the US medium car segment; (2) BEVs and PHEVs passenger vehicle fleets; (3) Selected OEMs, does not represent an exhausti
Slide 23: EV demand will trigger substantial investment in fast charging infrastructure
M i ta rbei ter k ü r z el Exceptional EV demand will trigger a substantial investment in fast charging infrastructure Source: Bloomberg NEF 23 $0 $ 1 00 2 0 20 2 0 25 2 0 40 Supporting a strong raise in the global Public and Commercial charging infrastructure investment Billion $200 Public fast 203
Slide 24: Legislation and corporate commitments will drive rapid electrification
M i ta rbei ter k ü r z el Legislation and corporate commitments will likely drive rapid electrification of the auto fleet Note: (1) Global EV Outlook 2021, IEA. European Union refers to the collective pledge of 27 member states; (2) ZEV stands for zero emission vehicles (BEVs, PHEVs and F CEVs) 24
Slide 25: Fully integrated eco-platforms enabling an all-electric energy system
M i ta rbei ter k ü r z el Fully integrated eco - platforms enabling an all - electric energy system Serving EV - Charging, Residential as well as Commercial & Industrial segments + + Dat a - dri v e n ser v i c es So f t w are Ba tt e ry m anage m en t System (BMS) E ne r gy m anage m ent system (E
Slide 26: Strong product roadmap based on existing technology
M i ta rbei ter k ü r z el Strong product roadmap based on existing technology 2022 2023 Next generation PowerBooster Expected launch: H1 2023 ChargePost Expected launch: H2 2022 MyPowerPlant Expected launch: H2 2023 1980 2009 2010 2011 2014 2016 2017 2018 2020 Founding of ads - tec GmbH New product
Slide 27: MyPowerPlant residential solution
M i ta rbei ter k ü r z el Note: ads - tec Energy is forecasting launch of MyPowerPlant in the second half of 2023 27 x Integrated all - in - one home solution x Unique technology - highly efficient, enabling DC to DC transmission End customers Ha r d w a r e Future partners for example x Significan
Slide 28: Exponential growth in residential battery storage
M i ta rbei ter k ü r z el 2019 2024E Sources: “European Market Outlook” Solar Power Europe, Eurelectric, IEA New Policies Scenario Note: (1) “European Market Outlook” Solar Power Europe, High Scenario forecasting 1 GWh of home storage additions in 2020 In order to optimize the usage of renewable en
Slide 29: Commercial & Industrial: storage is key to electrify the transition
M i ta rbei ter k ü r z el 29 Container Systems PowerBooster Rack Systems x State - of - the art, scalable storage solutions (up to multiple MW) x 100% in - house development x Enabler of smart grid applications and future sector decoupling x Optimizing energy flows, grid utilisation and services x
Slide 30: Strong growth in Commercial & Industrial
M i ta rbei ter k ü r z el Strong growth in Commercial & Industrial 30 Driven by renewables and the growth of electric consumption and requested power Source: Bloomberg NEF Energy storage installations 500 1 , 000 Gi ga w at t s 2017 2020 2030 2040 Global energy storage installations expected to mul
Slide 31: Multi-channel market access & flexible revenue model
M i ta rbei ter k ü r z el Multi - channel market access & flexible revenue model We serve all channels in a rapidly evolving ecosystem heading an all - electric world Har d w a r e S er v i c es So f t w are ads - tec platform B2B channel offering Se le cte d c usto m er t y pe s C ustomers EV O EM
Slide 32: Recurring revenue from integrated software and data-driven services
M i ta rbei ter k ü r z el Recurring revenue from integrated software offering and data - driven services Energy management software x Peak shaving x Self - consumption optimisation x Emergency power supply x Deep discharge protection • Direct access to cell level data enabling key insights in: x Ce
Slide 33: Revenue projections by division
M i ta rbei ter k ü r z el Revenue projections by division Note: (1) IFRS financials, 6 - month average USD/EUR exchange rate of 1.20522, IFRS financials. Projections constitute forward - looking statements that are subject to inherent uncertainty and rely in part on historical financials that are s
Slide 34: Platform of scale with good near term visibility
M i ta rbei ter k ü r z el Platform of scale with good near term visibility 34 • Strong growth primarily driven by : x Favourable market developments x Geographic expansion : US launch in 2022 x Product launches : EV charging (FY 22 ), Residential (FY 23 ) and Commercial & Industrial (FY 23 ) • Very
Slide 35: Valuation priced relative to peers
M i ta rbei ter k ü r z el Compelling valuation priced relative to peers Sources: CapIQ data as per 29/07/2021 Notes: (1) Refer to page 36 - 39 for further information on peer group valuation metrics, median figures displayed; (2) ChargePoint excluded from FY24 EV/EBITDA calculation; (3) Projections
Slide 36: Listed comparable companies universe
M i ta rbei ter k ü r z el Listed comparable companies universe 36 E V O E M s Stationary clean - tech EV focused energy storage solutions SPAC merger EV charging players Listed EV charging businesses Other listed EV charging players
Slide 37: Trading multiples – EV / Revenue
M i ta rbei ter k ü r z el Trading multiples – EV / Revenue Sources: Company information, CapIQ as per 29/07/2021 Notes: (1) Implied trading multiples based on current share price and financial metrics from investor presentations (EVBox, Volta, Wallbox, Tritium). For ChargePoint consensus broker est
Slide 38: Trading multiples – EV / EBITDA
M i ta rbei ter k ü r z el 2 .7x 79.4x u /d 5 .6x 13 .4x 12 .0x 6.3x 13. 6 x 30 .4x 13 .5x 25 .3x A p er t a C ha r ge P o i n t E V B o x V O L TA E Vg o Wa llb o x T r i t i u m Other listed EV focused energy Stationary E V OE M s 6 .3x 154.1x u /d 12 .9x 43 .2x 56 .4x 10 .1x 31 .4x 15. 3 x 17.1x
Slide 39: Operational benchmarking
M i ta rbei ter k ü r z el Operational benchmarking Sources: Company information, CapIQ as per 29/07/2021 Notes: (1) ChargePoint using consensus broker estimates. Investor presentation data used for companies currently under - going de - SPAC; (2) EVBox revenue growth from FY21 – FY23 due to unavail
Slide 40: Appendix
M i ta rbei ter k ü r z el A p pe n dix 40
Slide 41: Financial statements
M i ta rbei ter k ü r z el Financial statements 41 Source: Company information Note: Historical financials based on IFRS standards. Historical P&L financials converted to USD ($) using EUR/USD exchange rate of 1.1195 for FY19A and 1.1422 for FY20A. Historical balance sheet and cash flow items conver
Slide 42: Risk factors
M i ta rbei ter k ü r z el The following list of risk factors is provided to certain sophisticated institutional investors in connection with a potential investment in European Sustainable Growth Acquisition Corp (“EUSG”), or a newly formed holding company, as part of a proposed business combination
Slide 43: Risks related to the Business Combination
M i ta rbei ter k ü r z el Risk Related to the Business Combination • We have not yet entered into a definitive agreement for the Business Combination and, when we do, the completion of the Business Combination will be subject to a number of conditions and if those conditions are not satisfied or wa