June 2015 ITM Power Company Presentation
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ITM Power PLC produces hydrogen energy systems for power-to-gas energy storage and hydrogen refueling stations. It has 贈9.97 million of projects under contract and a further 贈5.79 million in late stages. Its products offer rapid response, high pressure storage, high efficiency, and scalability up to 1 megawatt. ITM Power aims to achieve positive cash flow quickly by focusing on large projects and using reference plants and refueling stations to drive sales in power-to-gas and mobility sectors.
June 2015 ITM Power Company Presentation
- 1. ITM POWER PLC: (LSE: ITM.L) JUNE 2015 | COMPANY PRESENTATION
- 2. Contents: Introduction Production Projects: Power-to-Gas Energy Storage Projects: Refuelling Station Financials ITM POWER PLC: (LSE: ITM.L) JUNE 2015 | COMPANY PRESENTATION
- 3. REFUELLING STATIONS | P2G UNITS HYDROGEN ENERGY SYSTEMS Power-to-Gas Refuelling Stations
- 4. MARKET OFFERING HYDROGEN ENERGY SYSTEMS MARKET OFFERING Rapid Response | High Pressure | High Efficiency | MW scale Rapid response: less than 2s; for primary grid balancing High pressure: up to 80bar; for direct injection High efficiency: 75% measured by third parties in the field MW scale: 1MW modules available today Compliant: EU, USA and Asia 贈9.97m of projects under contract A further 贈5.79m in final stages
- 5. STANDARD PLATFORMS HYDROGEN ENERGY SYSTEMS PRODUCT CONSOLIDATION 10ft. ISO 10ft. ISO20ft. ISO 20ft. ISO 20ft. ISO40ft. ISO
- 6. REGULATIONS, CODES & STANDARDS A leading role in shaping hydrogen deployment Secretary of BCGA Technical Steering Committee 9 Secretary and UK Expert to ISO Technical Committee 197 UK Expert to ISO working groups for electrolysers, dispensers & H2 quality Next Chair of BSI PVE/3/8 HYDROGEN ENERGY SYSTEMS COMPLIANCE Code of Practice 41: H2 Fuelling Stations Design & Construction Maintenance & Operation ISO 19880-1: H2 Fuelling Stations ISO 22734: Electrolyser ISO 14687: H2Quality BSI PVE/3/8: H2 Systems Standardisation Production & Storage Transport, Measurement & Use
- 7. HYDROGEN ENERGY SYSTEMS JCB 贈4.9M STRATEGIC INVESTMENT JCB 贈4.9M STRATEGIC INVESTMENT Volume Manufacturing The world's third-largest supplier of earth-moving equipment Sales of 贈2.68bn (2014), 贈313m (2014) profit Sold 66,227 machines 22 factories across Asia, Europe, China, North America and South America 12 factories in the UK and 5 in India JCB products are sold in over 150 countries JCB India,115 acre site, Jaipur.
- 8. P2G PROJECTS THGA PROJECT RWE EMEC | ORKNEY NG | AMEC 1MW PRODUCT
- 9. WHY POWER-TO-GAS? POWER-TO-GAS RATIONALE Electricity cannot be stored easily | Hydrogen can be stored easily in the gas grid Source: ITM Power plc HYDROGEN ENERGY SYSTEMS
- 10. HYDROGEN ENERGY SYSTEMS MARKET SIZE | NEW EU REPORT Germany: 46 GW (贈46bn) in 2030 | 115 170 GW in 2050 POWER-TO-GAS
- 11. ENERGY STORAGE | CLEAN FUEL POWER-TO-GAS
- 12. ENERGY STORAGE | CLEAN FUEL POWER-TO-GAS
- 13. ENERGY STORAGE | CLEAN FUEL EMEC | Orkney 贈1.8m sale Competitive tender 0.5MW electrolyser + storage Complete hydrogen energy system Largest system to date Many follow on projects POWER-TO-GAS IN UK POWER-TO-GAS
- 14. POWER-TO-GAS ENERGY STORAGE | CLEAN FUEL POWER-TO-GAS IN UK National Grid | AMEC Grid Gas: NG | SSE | Shell NG/AMEC 1: Feasibility study | 贈120k funded by NG 200/300 x Multi-MW opportunities in the UK alone NG/AMEC 2: Contract to identify the first project sites GridGas NG/AMEC 1 NG/AMEC 2 First Plant Sale
- 15. HYDROGEN ENERGY SYSTEMS 1MW P2G SKID | HANNOVER LAUNCH New 1MW Skid | 3 x 350kW stacks Hannover launch April 2015 Smallest 1MW on the market Based on the new 350kW stack Rapid response | Modular unit Developing projects now POWER-TO-GAS
- 16. GRIDGAS: PROJECT RECOMMENDATIONS LONDON, 24TH OCTOBER 2013 Recommendations to DECC: Form a Power-to-Gas working group of stakeholders Review the inclusion of hydrogen from electrolysis in the Renewable Heat Incentive Initiate a consultation/call for evidence of injection of hydrogen into the UK gas grid Initiate a consultation/call for evidence of P2G energy storage in the UK Include Power-to-Gas in the 2050 pathways analysis Agree the definition of "green hydrogen eg: recommended by TUV of 50gCO2/kWh Recommendations to the HSE: Review the current hydrogen limit of 0.1% Standardise the procedure for exemptions under the current rules Form a standards working group specifically looking at hydrogen in the gas grid Identify requirements for adopting a much higher concentration in the 2020s
- 17. CLEAN FUEL
- 18. Code Status Project Location Specification Funding Contract Value Ownership HRS 001 Operating Nottingham Univ of Notts 5kg/day 350 bar TSB (UK Gov) 贈275k Univ of Notts HRS 002 Operating HOST Mobile refueller 15kg/day 350 bar TSB (UK Gov) 贈326k ITM Power HRS 003 Operating Ecoisland marine Ventnor, Isle of Wight 15kg/day 350 Bar TSB (UK Gov) 贈326k ITM Power HRS 004 Commissioned M1 vehicle M1 Junction 33 80kg/day 350Bar TSB (UK Gov) 贈1.2m ITM Power HRS 005 In Build HyFive 3 stations in London 80kg/day 700 bar FCH JU (EU) 贈1.55m ITM Power HRS 006 In Build HyFive 3 stations in London 80kg/day 700 bar FCH JU (EU) 贈1.55m ITM Power HRS 007 In Build HyFive 3 stations in London 80kg/day 700 bar FCH JU (EU) 贈1.55m ITM Power HRS 008 In Build CHINO Hyundai Chino, California 100 kg/day 700bar CEC 贈812k Hyundai HRS 009 In Build Riverside Riverside, California 33kg/day 700 bar CEC 贈1.7m ITM Power HRS 010 Contracts UKH2M 2 stations in London 80kg/day 700 bar OLEV | FCH JU 贈1.80m ITM Power HRS 011 Contracts UKH2M 2 stations in London 80kg/day 700 bar OLEV | FCH JU 贈1.80m ITM Power ITM POWER | REFUELLING STATIONS REFERENCE PLANT | ASSETS HYDROGEN ENERGY SYSTEMS
- 19. ON-SITE HYDROGEN PRODUCTION ENERGY STORAGE | CLEAN FUEL
- 20. ON-SITE HYDROGEN PRODUCTION ENERGY STORAGE | CLEAN FUEL
- 21. ON-SITE HYDROGEN PRODUCTION ENERGY STORAGE | CLEAN FUEL
- 22. ENERGY STORAGE | CLEAN FUEL OLEV | London 贈2.89m award 贈1.89m for 2 new London HRS 贈1m for upgrades including the M1 HRS Siting partner (oil & gas major) Awarded 67% of the available money Matched with 贈1.7m EU money Further procurement post election UKH2MOBILITY ON-SITE HYDROGEN PRODUCTION
- 23. ON-SITE HYDROGEN PRODUCTION ENERGY STORAGE | CLEAN FUEL 80KG/DAY REFUELING SYSTEM
- 24. ON-SITE HYDROGEN PRODUCTION ENERGY STORAGE | CLEAN FUEL
- 25. ON-SITE HYDROGEN PRODUCTION ENERGY STORAGE | CLEAN FUEL
- 26. FINANCIALS
- 27. PRODUCT SALES & PROJECT INCOME ENERGY STORAGE | CLEAN FUEL PRODUCT SALES Lumpy sales and getting lumpier Typical deal 贈300k to 贈3m Product sales increasing
- 28. PRODUCT SALES & PROJECT INCOME ENERGY STORAGE | CLEAN FUEL PRODUCT SALES & PROJECT INCOME High growth in revenue For year ending April 30th 2013 贈1.45 total inflow 贈0.09m product sales 贈1.36m grant funding For year ending April 30th 2014 贈3.12m total inflow 贈1.16m product sales 贈1.96m project funding 贈0 贈1,000,000 贈2,000,000 贈3,000,000 贈4,000,000 贈5,000,000 贈6,000,000 2010 2011 2012 2013 2014 2015 Broker note Sales Revenue Project Income
- 29. PROJECT INCOME ENERGY STORAGE | CLEAN FUEL PROJECT INCOME High growth in revenue For year ending April 30th 2013 贈1.45 total inflow 贈0.09m product sales 贈1.36m grant funding For year ending April 30th 2014 贈3.12m total inflow 贈1.16m product sales 贈1.96m project funding 贈0 贈1,000,000 贈2,000,000 贈3,000,000 贈4,000,000 贈5,000,000 贈6,000,000 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Collaborative Project Funding Negotiation Secured Paid
- 30. STAFF COSTS ENERGY STORAGE | CLEAN FUEL STAFF COSTS High growth in revenue For year ending April 30th 2013 贈1.45 total inflow 贈0.09m product sales 贈1.36m grant funding For year ending April 30th 2014 贈3.12m total inflow 贈1.16m product sales 贈1.96m project funding
- 31. OBJECTIVES & GROWTH STRATEGY OBJECTIVES & GROWTH STRATEGY Objectives: ITM Power achieving positive cash flow in the shortest possible time ITM Power products becoming the adopted standard in Power-to-Gas energy storage ITM Power products being integrated into market leading hydrogen refuelling stations Growth Strategies: ITM Power is now firmly focussed on large scale solutions The Th端ga reference plant in Germany is being used to drive Power-to-Gas sales The M1 and the London HyFive refuelling stations will be used to drive sales in the mobility sector National mobility programmes will drive initial refuelling station sales Product development will be achieved through securing and utilising project funding Project funding reduces cash outflow and creates key industrial partnerships Quoting for sales with upfront payments to reduce working capital requirements HYDROGEN ENERGY SYSTEMS
- 32. Summary 贈9.97m of projects under contract A further 贈5.79m of contracts in final stages of negotiation Rapidly developing quoted project pipeline Strong corporate partner engagement ITM POWER PLC: (LSE: ITM.L) JUNE 2015 | COMPANY PRESENTATION
- 33. ITM POWER PLC: (LSE: ITM.L) JUNE 2015 | COMPANY PRESENTATION