Hydrogenpro Asa · OSL:HYPRO
Hydrogenpro Asa — Q3 2023 Earnings Presentation
16 slides from Hydrogenpro Asa's earnings presentation, Nov 7, 2023
Slide 1: Q3 2023 presentation
Pure Performance Pure Efficiency Pure Power Q3 2023 presentation 7 November 2023 CEO Jarle Dragvik
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: 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 • 5.5 MW single stack suitable for renewable energy input • A modular system that can be scaled to any size for large-scale industrial applications • Pressurised hy
Slide 4: HydrogenPro targets industrial applications and hard-to-abate sectors – enables the energy transition through hydrogen
HydrogenPro targets industrial applications and hard-to-abate sectors – enables the energy transition through hydrogen Power-To- Renewables Gas Refinery/ Decarbonization Synthetic fuel H2 Water + Balancing the grid O2 Fertilizer/ H2O ammonia LARGE-SCALE HYDROGEN PLANTS Steel Production
Slide 5: Achievements and major developments
Achievements and major developments 1 2 3 Received 100 MW Purchase Revenues of NOK 220 ACES1) delivery progressing, Order from ANDRITZ for 18 million, up >14x from Q3 installation onsite initiated cell stacks 2022 4 5 6 HydrogenPro partner DG 5,5 MW electrolyser Terje Mikalsen appointed Fuels enters
Slide 6: Financial development Q3 2023
Financial development Q3 2023 Revenues NOK 220 million (Q2’23: 137 MNOK) Up >14x from Q3 2022, driven by deliveries to ACES project Gross margin 10.2% (Q2’23: 21.6%) Driven by increased COGS Adj. EBITDA NOK -19 million (Q2’23: NOK – 4 million) Other OPEX increased due to provisions for warranty accr
Slide 7: Revenues, gross profit, and Adj. EBITDA
Revenues, gross profit, and Adj. EBITDA UNAUDITED FIGURES Revenues Gross profit Adj. EBITDA • Revenues are up 61% from last quarter • COGS increased in the quarter • Personnel expenses increased due to and >14x same quarter last year following variation orders and write- an increase in number of emp
Slide 8: Cash position and investments
Cash position and investments UNAUDITED FIGURES • Positive net cash flow in October of NOK 102 million, cash position of NOK 235 million 31 October 2023 • Reiterate outlook: ACES project expected to be net cash flow positive in 2H • HydrogenPro is not actively commencing preparations for listing at
Slide 9: ANDRITZ confirms Purchase Order for electrolysers from HydrogenPro
ANDRITZ confirms Purchase Order for 18 electrolysers from HydrogenPro • Contract value estimated to approx. EUR 18 million • The confirmed Purchase Order equals 18 of HydrogenPro’s 5.5 MW cell stacks (100 MW) • ANDRITZ will build a 100 MW electrolysis plant at the Salzgitter Flachstahl GmbH site on
Slide 10: Mitsubishi Power confirms successful validation, installation, and operation of electrolysers
Mitsubishi Power confirms successful validation, installation, and operation of electrolysers 10
Slide 11: Exclusive supplier to ACES1 project: the world’s largest green hydrogen energy hub
Exclusive supplier to ACES1 project: the world’s largest green hydrogen energy hub ACES hub provides a complete end-to-end solution to produce, store, and convert renewable hydrogen to support carbon-free year-round power for Western US. Chevron acquired majority stake HydrogenPro delivering 220 MW
Slide 12: DG Fuels’ FEL 3 study on track
DG Fuels’ FEL 3 study on track Exclusive supplier of >800MW electrolysers for DG Fuels’ Sustainable Aviation Fuel plant in Louisiana, US DG Fuels has sold out 100% of the Contract value >USD 500 million, expected initial production at the FID expected in first half 2024 excluding life cycle services
Slide 13: DG Fuels and Airbus enter strategic partnership
DG Fuels and Airbus enter strategic partnership Guilleume Faury, CEO Airbus, 12 September 2023: • “SAF is absolutely critical to the success of decarbonization… • We are working around the world with partners, and DG Fuels is one of them, very promising technology, we really believe in the company.
Slide 14: Hydrogen momentum in the US continues
Hydrogen momentum in the US continues Biden administration lunched funding for hydrogen HydrogenPro Inc. hires CEO Jeff Spethmann to lead hubs to develop a sustainable value chain in the US the US expansion • Seven regional clean hydrogen hubs to receive USD • To begin in January 2024 7 bn in govern
Slide 15: US expansion plans being re-evaluated following revised priorities presented by board of directors
US expansion plans being re-evaluated following of the revised priorities presented by board of directors Previously announced plan to build a manufacturing HydrogenPro’s priorities for a US expansion facility in Texas is being re-evaluated • Lessons learnt from project deliveries with regards to •
Slide 16: #1 provider of large-scale green hydrogen technology & systems
#1 provider of large-scale green hydrogen technology & systems