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IntroVision investment

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Anastasia Myasnikova
Anastasia Myasnikova

The document summarizes IntroVision, a company that provides digital petrophysics technologies for analyzing tight oil reservoirs. It describes IntroVision's team of scientists and engineers and its unique digital core analysis technologies. Conventional core analysis is time-consuming, expensive, destroys samples, and cannot study complex fields. IntroVision uses CT scanning of cores and cuttings, mathematical modeling, and cloud-based software to provide faster, less expensive analysis while preserving samples. The document outlines IntroVision's products and commercial projects, competition in the growing global core analysis market, investment needs, and management team.

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DIGITAL ANALYSIS TECHNOLOGIES FOR TIGHT AND SHALE RESERVOIRS
IntroVision ¨C is an international team of scientists, engineers and specialists, graduated from the leading universities: MSU, MIPT, BMSTU, Sorbonne, INSEAD, MGIMO IntroVision ¨C is one of the four companies in the world, owning variety of unique digital petrophysics technologies for tight oil reserves investigations PROBLEM SOLUTION - DIGITAL CT RESEARCH Conventional core analysis: Core samples CT-based lab Mathematical modeling Research results SAAS Enhanced oil and gas recovery ? time-consuming ? expensive ? destroys the samples ? does not apply to the study of complex fields Projects 2014-2016:
IntroVision products: IntroVision Lab: digital analysis of cores and cuttings IntroRock: hardware and software complex for core macroanalysis IntroVision ML: mobile laboratories for well-site cuttings analysis IntroStorage: : hardware and software complex ?electronic core storage? Plans: ? Enlargement of clients and projects portfolio ? Certification ? Time reduction from 24 to 4 hours ? Expansion of functional ? Certification ? Expansion among clients (Freemium model) ? Development of pilot version in Moscow ? Debugging of production process ? Development of extension modules ? Prototype finalization ? Test access grant for existing clients (work with core) ? Presentations for potential clients
Commercialization ¨C 4! commercial project are in progress Preparing to launch in 2015 more than 10 projects (Russia, Kazakhstan, Azerbaijan, Israel) Rapid analysis of core and cuttings Client: Major gas company Origin: Western Siberia Optimize a new propping agent with respect to certain properties Client: Major Oil&Gas company Unconsolidated core sample research Client: State Oil&Gas company Origin: Krasnodar region Analysis of deposit rock through the horizontal well Client: independent private Oil&Gas company Origin: Western Siberia (Tyumen Suite) Goal: Find the best ¡°recipe¡± IntroVision: Test 2 samples in a lab and, w/o producing 1000 pilot samples, model 1mln ¡°recipes¡± to find the best and produce it. Test it then with a lab. Goal: Investigate a highly fragile core sample IntroVision: Do a CT scan of the sample and model the processes critical to the client Goal: to analyze properties of the rock of wellbore area of horizontal well IntroVision: instead of expensive extraction of the core to carry-out the CT-imaging of samples of cutting, to carry out petrophysical modeling Goal: to obtain petrophysical dependences before casing pipe pull- down (about 2 weeks) IntroVision: deliver 3 cm samples to the lab, carry out digital analysis in 24 hours
Size of global market of core analysis is more $2 bln Index Value Trend Market readiness Development Current Russian Federation market volume ~$100 mln Growing Current world market volume ~$2 bln Growing Annual growth rate of digital research market 100% Escalate Number of players in the market of digital research 3 + Introvision Escalate Degree of competition Low Escalate Degree of technical change High Escalate Companies which are interested in the technology:
IntroVision directly competes with three companies in the world: ? The company was founded in 2007 in the United States, Stanford ? In 2007-2009 a pool of international venture capital investors (including Energy Ventures) has invested more than $ 35 million ? Currently, the company opened laboratories in the United States, Brazil, Colombia, United Arab Emirates ? Ingrain now has over 70 employees ? The company was formed in 2013 through the merger of DigitalCore (Australia, a spin- off of Australian National University) and Numerical Rocks (Norway, a spin-off StatOil) ? LithIcon has over 50 employees ? The company was formed by a partnership of Imperial College (specialized in modeling the long cores) and China. R & D center is located in London, the "Technology Center" in Beijing. ? IRock has about 20 employees*. IntroVision advantages ? Orientation on network of mobile laboratories (competitors ¨C several superlabs) ? Technologies of distant work (most of oil deposits are situated on hard-to-reach), ? Cloud architecture (calculations and big data service on clients site) ? Own client-server hardware and software IntroRock (Freemium model) ? Unique team and Advisory board
Advisory board Dominique Fache, Chairman of advisory board IntroVision, Regional Director, Shlumberger in Russia and CIS (1993-2003) Rudolf M. Ter-Sarkisov, First Deputy General Director ¡°Gazprom dobycha shelf¡± LLC, Chief Manager of Shtokman project Arkadiy A. Bokserman, Advisor to General Director of Zarubezhneft JSC Management Andrey Gorbyk, CEO IntroVision Vadim Kulikov, Chairman of the Board of Directors IntroVision Oleg Evdokimenko, Ph. D. Eugene Golubchikov, Managing Partner, Ph. D. Key persons Anton Saratov, Chief Research Officer Dmitry Bikulov, analyst, Introvision Anastasia Myasnikova, analyst Introvision Alexander Shvartsberg, programmer, Introvision Eugene Volodin, programmer, Introvision Vasily Pekar, programmer, Introvision
Investments Round ¨C 2014/2015: 24 mln rub (confirmed intention for 12 mln rub) ? Up to 24 mln rub ¨C planned Skolkovo Foundation grant ? IntroRock beta release ? Earnings from licensing and research 54 mln rub in 2016 (EBITDA-positive) Round ¨C 2015/2016: 75 mln rub ? Development of pilot version of IntroVision Lab ? Beta-release of digital core storage IntroStorage (transfer big data service to client side) ? Certification Previous rounds 2011 ¨C 2013 (for the reference) ? Skolkovo foundation grants (programs 0 and 1 totaling 32 mln rub) ? Angels and investors 2011-2013: 16 mln rub (pre-seed and seed stages) Dominique Fache Oleg Evdokimenko Vadim Kulikov
9 Round Seed/A1, 2014/2015: overall 24 mln rub (6 /18 mln rub) ? Intention on 12 mln is confirmed (3/9 mln rub) ? Up to 24 mln rub ¨C planned grant from Skolkovo Foundation ? IntroRock beta release ? Earnings from licensing and research 54 mln rub in 2016 (EBITDA-positive) Andrei Gorbyk CEO +7 (495) 997 76 18 gorbyk@introvision.ru Last call: Thank you for your interest!

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IntroVision investment

  • 2. IntroVision ¨C is an international team of scientists, engineers and specialists, graduated from the leading universities: MSU, MIPT, BMSTU, Sorbonne, INSEAD, MGIMO IntroVision ¨C is one of the four companies in the world, owning variety of unique digital petrophysics technologies for tight oil reserves investigations PROBLEM SOLUTION - DIGITAL CT RESEARCH Conventional core analysis: Core samples CT-based lab Mathematical modeling Research results SAAS Enhanced oil and gas recovery ? time-consuming ? expensive ? destroys the samples ? does not apply to the study of complex fields Projects 2014-2016:
  • 3. IntroVision products: IntroVision Lab: digital analysis of cores and cuttings IntroRock: hardware and software complex for core macroanalysis IntroVision ML: mobile laboratories for well-site cuttings analysis IntroStorage: : hardware and software complex ?electronic core storage? Plans: ? Enlargement of clients and projects portfolio ? Certification ? Time reduction from 24 to 4 hours ? Expansion of functional ? Certification ? Expansion among clients (Freemium model) ? Development of pilot version in Moscow ? Debugging of production process ? Development of extension modules ? Prototype finalization ? Test access grant for existing clients (work with core) ? Presentations for potential clients
  • 4. Commercialization ¨C 4! commercial project are in progress Preparing to launch in 2015 more than 10 projects (Russia, Kazakhstan, Azerbaijan, Israel) Rapid analysis of core and cuttings Client: Major gas company Origin: Western Siberia Optimize a new propping agent with respect to certain properties Client: Major Oil&Gas company Unconsolidated core sample research Client: State Oil&Gas company Origin: Krasnodar region Analysis of deposit rock through the horizontal well Client: independent private Oil&Gas company Origin: Western Siberia (Tyumen Suite) Goal: Find the best ¡°recipe¡± IntroVision: Test 2 samples in a lab and, w/o producing 1000 pilot samples, model 1mln ¡°recipes¡± to find the best and produce it. Test it then with a lab. Goal: Investigate a highly fragile core sample IntroVision: Do a CT scan of the sample and model the processes critical to the client Goal: to analyze properties of the rock of wellbore area of horizontal well IntroVision: instead of expensive extraction of the core to carry-out the CT-imaging of samples of cutting, to carry out petrophysical modeling Goal: to obtain petrophysical dependences before casing pipe pull- down (about 2 weeks) IntroVision: deliver 3 cm samples to the lab, carry out digital analysis in 24 hours
  • 5. Size of global market of core analysis is more $2 bln Index Value Trend Market readiness Development Current Russian Federation market volume ~$100 mln Growing Current world market volume ~$2 bln Growing Annual growth rate of digital research market 100% Escalate Number of players in the market of digital research 3 + Introvision Escalate Degree of competition Low Escalate Degree of technical change High Escalate Companies which are interested in the technology:
  • 6. IntroVision directly competes with three companies in the world: ? The company was founded in 2007 in the United States, Stanford ? In 2007-2009 a pool of international venture capital investors (including Energy Ventures) has invested more than $ 35 million ? Currently, the company opened laboratories in the United States, Brazil, Colombia, United Arab Emirates ? Ingrain now has over 70 employees ? The company was formed in 2013 through the merger of DigitalCore (Australia, a spin- off of Australian National University) and Numerical Rocks (Norway, a spin-off StatOil) ? LithIcon has over 50 employees ? The company was formed by a partnership of Imperial College (specialized in modeling the long cores) and China. R & D center is located in London, the "Technology Center" in Beijing. ? IRock has about 20 employees*. IntroVision advantages ? Orientation on network of mobile laboratories (competitors ¨C several superlabs) ? Technologies of distant work (most of oil deposits are situated on hard-to-reach), ? Cloud architecture (calculations and big data service on clients site) ? Own client-server hardware and software IntroRock (Freemium model) ? Unique team and Advisory board
  • 7. Advisory board Dominique Fache, Chairman of advisory board IntroVision, Regional Director, Shlumberger in Russia and CIS (1993-2003) Rudolf M. Ter-Sarkisov, First Deputy General Director ¡°Gazprom dobycha shelf¡± LLC, Chief Manager of Shtokman project Arkadiy A. Bokserman, Advisor to General Director of Zarubezhneft JSC Management Andrey Gorbyk, CEO IntroVision Vadim Kulikov, Chairman of the Board of Directors IntroVision Oleg Evdokimenko, Ph. D. Eugene Golubchikov, Managing Partner, Ph. D. Key persons Anton Saratov, Chief Research Officer Dmitry Bikulov, analyst, Introvision Anastasia Myasnikova, analyst Introvision Alexander Shvartsberg, programmer, Introvision Eugene Volodin, programmer, Introvision Vasily Pekar, programmer, Introvision
  • 8. Investments Round ¨C 2014/2015: 24 mln rub (confirmed intention for 12 mln rub) ? Up to 24 mln rub ¨C planned Skolkovo Foundation grant ? IntroRock beta release ? Earnings from licensing and research 54 mln rub in 2016 (EBITDA-positive) Round ¨C 2015/2016: 75 mln rub ? Development of pilot version of IntroVision Lab ? Beta-release of digital core storage IntroStorage (transfer big data service to client side) ? Certification Previous rounds 2011 ¨C 2013 (for the reference) ? Skolkovo foundation grants (programs 0 and 1 totaling 32 mln rub) ? Angels and investors 2011-2013: 16 mln rub (pre-seed and seed stages) Dominique Fache Oleg Evdokimenko Vadim Kulikov
  • 9. 9 Round Seed/A1, 2014/2015: overall 24 mln rub (6 /18 mln rub) ? Intention on 12 mln is confirmed (3/9 mln rub) ? Up to 24 mln rub ¨C planned grant from Skolkovo Foundation ? IntroRock beta release ? Earnings from licensing and research 54 mln rub in 2016 (EBITDA-positive) Andrei Gorbyk CEO +7 (495) 997 76 18 gorbyk@introvision.ru Last call: Thank you for your interest!