FINAL RESULTS PRESENTATION AUGUST 2016 LONDON

Transcription

1 FINAL RESULTS PRESENTATION AUGUST 2016 LONDON

2 FINAL RESULTS PRESENTATION AUGUST 2016 LONDON Presentation Contents: Key Financial Results Products Power-to-Gas Projects Clean Fuel Projects Hydrogen Transportation Detailed Financials Andy Allen 15.81m under contract 0.51m in negotiation total 16.32m

3 Pipeline ( m) up 61% Total Income ( m) up 56% Losses ( m) down 24% Cash + Debtors 10.75m 2.5x Losses FINANCIALS: OVERVIEW ENERGY STORAGE CLEAN FUEL

4 Power-to-Gas Refuelling Stations REFUELLING STATIONS P2G UNITS ENERGY STORAGE CLEAN FUEL

5 SNAPSHOT 15.81m under contract 0.51m in negotiation total 16.32m Power-to-Gas Energy Storage Reference plant in Germany with The Thuga Group Reference plant in Germany to RWE Contracts with National Grid Technology Collaboration with BOC Linde Clean Fuel Siting agreement with Shell Fuel contract with Toyota Refueller siting with Hyundai US Siting and BD agreement with Arup Corporate Strategic investment from JCB SNAPSHOT ENERGY STORAGE CLEAN FUEL

6 MARKET OFFERING Rapid Response High Pressure High Efficiency MW scale Rapid response: less than 1s; for primary grid balancing High pressure: up to 80bar; for direct injection High efficiency: 75% measured by Thuga Group; 87% measured by RWE (with heat recovery) MW scale: 1MW modules available today Compliant: EU and USA Operations: 2yrs in the field MARKET OFFERING ENERGY STORAGE CLEAN FUEL

7 STANDARD PRODUCTS 255kg/day 670kW 85kg/day 215kW 545kg/day 1.4MW 1,365kg/day 3.5MW PEM OFFERING ENERGY STORAGE CLEAN FUEL

8 FLEXIBLE PLATFORM 23.5 tonnes/day 30MW 1,365kg/day 3.5MW PEM OFFERING ENERGY STORAGE CLEAN FUEL

9 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 Code of Practice 41: H 2 Fuelling Stations Design & Construction Maintenance & Operation ISO : H 2 Fuelling Stations ISO 22734: Electrolyser ISO 14687: H 2 Quality BSI PVE/3/8: H 2 Systems Standardisation Production & Storage Transport, Measurement & Use COMPLIANCE HYDROGEN ENERGY SYSTEMS

10 P2G PROJECTS WHY P2G THE THÜGA GROUP RWE ZEAG

11 WHY POWER-TO-GAS? Electricity cannot be stored easily Hydrogen can be stored easily in the gas grid Source: ITM Power plc POWER-TO-GAS RATIONALE ENERGY STORAGE CLEAN FUEL

12 ENERGY STORAGE TECHNOLOGIES Power-to-gas is efficient long term low energy cost Source: ITM Power plc ENERGY STORAGE TECHNOLOGIES ENERGY STORAGE CLEAN FUEL

13 32MWH BATTERY P2G COST COMPARISON Lithium Ion System (6,300 sqft) Project will cost $53.5m 8MW with 4hr duration 32MWh $6.7m/MW $1.67m/MWh Power-to-Gas System (3,530 sqft) Project will cost $21.6m 8MW with 4hr duration 32MWh $2.7m/MW $0.67m/MWh 8MW with 12hr duration 192MWh $2.7m/MW $0.22m/MWh Tehachapi Energy Storage Project The Tehachapi Energy Storage Project features 604,832 lithium-ion battery cells, housed in 10,872 modules of 56 cells each, stacked in 604 racks arranged in rows. BATTERY P2G COST COMPARISON HYDROGEN ENERGY SYSTEMS

14 POWER-TO-GAS ENERGY STORAGE CLEAN FUEL

15 POWER-TO-GAS ENERGY STORAGE CLEAN FUEL

16 1MW SALE TO ZEAG DLR Sale in Germany by competitive tender 1MW of electrolysis plus compressor for tube trailer filling Indoor deployment 5 year maintenance contract 1MW SALE TO ZEAG DLR ENERGY STORAGE CLEAN FUEL

17 POWER-TO-GAS IN UK BIG HIT Orkney Eday: Curtailed wind and tidal turbines 0.5 MW of electrolysis 500kg storage Heating of school Shapinsay: Curtailed wind 1MW of electrolysis Heating of school Orkney Mainland: 75 kw FC: heat and power to harbour and marina H2 refuelling station 10x FC vans Transport: 5x 250 kg tube trailers POWER-TO-GAS ORKNEY ENERGY STORAGE CLEAN FUEL

18 CLEAN FUEL CARS

19 A W A I T I N G A N N O U N C E M E N T FUEL CELL CAR ROLLOUT ENERGY STORAGE CLEAN FUEL

20 WHAT IS A FUEL CELL VEHICLE? An EV drive train that s refuelled rather than recharged FUEL CELL VEHICLES VEHICLES ROLL OUT

21 ITM POWER TOYOTA FUEL CONTRACT 11 UK stations 1595 kg/day by the end of /kg Lowest cost hydrogen for cars in UK 1595 kg/day by the end of 2018 ITM POWER TOYOTA FUEL CONTRACT HYDROGEN ENERGY SYSTEMS

22 ITM EXISTING AND PLANNED HRS SITES Build own and operate model 5 operational HRS by 2016 year end 2 further HRS sales (Chino and HDF) Collaboration wth BOC Linde ITM Power Owned Stations Number Project Funding Match Location Ely Dispenser Planning Build Status Delivery Notes HRS 001 M1 TSB OLEV AMP Sheffield /700 approved Operational Delivered OLEV upgrade HRS 002 Riverside CEC USA approved Operational Delivered US power (60 herz) HRS 003 HyFive_1 FCH JU OLEV NPL /700 approved Operational Delivered Public Access HRS 004 HyFive_2 FCH JU OLEV CEME /700 approved In build Oct-16 Opening October HRS 005 HyFive_3 FCH JU OLEV Shell Cobham approved In build Dec-16 Civils complete Aug 16 HRS 006 BIG HIT FCH JU Orkney pre planning In design Apr-17 HRS 007 H2ME OLEV FCH JU Shell Beaconsfield /700 pre planning In build Aug-17 Full forecourt integration HRS 008 H2ME OLEV FCH JU Shell Gatwick /700 approved In build Aug-17 Toyota preferred site HRS 009 H2ME2_1 FCH JU Site TBC /700 pre planning Contracts 2017 HRS 010 H2ME2_2 FCH JU Site TBC /700 pre planning Contracts 2017 HRS 011 H2ME2_3 FCH JU Swindon /700 approved Contracts Mar-17 STATION LOCATIONS HYDROGEN ENERGY SYSTEMS

23 WHAT IS AN FCEV REFUELLING STATION? FCEV REFUELLING STATION VEHICLES ROLL OUT

24 WHAT IS AN FCEV REFUELLING STATION? Tube trailer connection Off take of hydrogen for back up supply and other applications Buffer Tank 20bar 15m 3 tank ITM Power Electrolyser 80kg/day expandable to 500kg/day in 20ft container Dispenser 350 and 700 bar refuelling point Payment Unit Card reader, touchscreen and printer for cash register receipt BOC Linde Compression Ionic Compressor and gas storage, 600kg/day FCEV REFUELLING STATION VEHICLES ROLL OUT

25 SHELL COBHAM UK INFRASTRUCTURE ROLL OUT ENERGY STORAGE CLEAN FUEL

26 SHELL EXTRA SERVICES AT COBHAM (M25) *Source: ITM Power SHELL FORECOURT AGREEMENT HYDROGEN ENERGY SYSTEMS

27 BUS HRS CONFIGURATIONS BUS REFUELLING STATIONS

28 FINANCES

29 m DEAL PIPELINE 15.81m under contract 0.51m in negotiation total 16.32m Pipeline at Year end - Progress 24m 22m 20m Contract Pipeline 18m m m m m m 8.0 6m 6.0 4m 4.0 2m 2.0 0m /07/ /07/ /07/2016 Results announcements Under Contract In Negotiation Under Contract In Negotiation DEAL PIPELINE ENERGY STORAGE CLEAN FUEL

30 PRODUCT SALES PROJECT INCOME 15.81m under contract 0.51m in negotiation total 16.32m For year ending April 30 th m total inflow 1.16m product sales 1.96m project funding For year ending April 30 th m total inflow 1.63m product sales 3.43m project funding 16,000,000 14,000,000 12,000,000 10,000,000 8,000,000 6,000,000 Sales Revenue Project Income For year ending April 30 th m total inflow 1.93m product sales 6.25m project funding 4,000,000 2,000, Broker note 2018 Broker note PRODUCT SALES PROJECT INCOME ENERGY STORAGE CLEAN FUEL

31 PROJECT INCOME 15.81m under contract 0.51m in negotiation total 16.32m For year ending April 30 th m total inflow 1.16m product sales 1.96m project funding For year ending April 30 th m total inflow 1.63m product sales 3.43m project funding For year ending April 30 th m total inflow 1.93m product sales 6.25m project funding 7,000,000 6,000,000 5,000,000 4,000,000 3,000,000 2,000,000 1,000,000 Collaborative Project Funding In negotiation Secured Paid PROJECT INCOME ENERGY STORAGE CLEAN FUEL

32 LOSSES FINANCIAL ASSETS 15.81m under contract 0.51m in negotiation total 16.32m Post 2014, starting with Mainova Continued cost control Reductions in losses 2016 Financial Assets = 2x losses LOSSES FINANCIAL ASSETS ENERGY STORAGE CLEAN FUEL

33 COMPANY RESEARCH Zeus Capital In-house broker and NOMAD Tom McColm Roth Capital US placing agent Craig Irwin Align Research Equity holder Mark Parfitt COMPANY RESEARCH HYDROGEN ENERGY SYSTEMS

34 FINAL RESULTS PRESENTATION AUGUST 2016 LONDON Key Financial Results for the period ended 30 April 2015: Total Revenue & Grant Funding of 8.19m (2015: 5,061m) up 56%, comprising: Revenue m (2015: 1.635m) up 18% Grant income m (2015: 1.777m) up 80% Grants receivable for capital projects m (2015: 1.649), up 86% Increase in property, plant and equipment to 3.024m from 2.546m, up 19% Loss from operations 4.359m (2015: 5.723m), down 24% Cash balance 3.336m (2015: 6.576m), down 49% Debtors 6.487m (2015: 4.113m), up 58% Development costs of 0.252m recognised in the year

35 FINAL RESULTS PRESENTATION AUGUST 2016 LONDON Commercial progress to date: A Total of 16.32m of projects under contract or in the final stages of negotiation 15.81m of projects under contract 0.51m of contracts in the final stages of negotiation Strongly developing pipeline of commercial sales and funded projects

36 FINAL RESULTS PRESENTATION AUGUST 2016 LONDON