Storing Electricity for Our Future

Transcription

1 Storing Electricity for Our Future October Blackstone Street Cambridge, MA

2 Electricity Storage as a Transformational Opportunity National Academy of Engineering named the electrical grid the greatest engineering achievement of the 20th century the largest and most complex machine ever made. Today Instant Supply x Demand response Electricity Storage Changes Everything Supply x Demand Decouple S & D Ambri Inc. 2

3 An innovative approach to grid-scale storage The only battery where all three active components are liquid when the battery operates: Avoids typical failure mechanisms of solid state batteries, like particle cracking/separation Unprecedented lifespan potential Low-cost manufacturing Operates at high temperature (475 C) self-heated when operated regularly Robust design offers inherent safety features Unique cell chemistry* Elegant & simple cell design ( ) terminal seal cell lid negative electrode (liquid metal) electrolyte (molten salt) positive electrode (liquid metal) cell body * Initial chemistry from MIT was Mg Sb; Ambri commercializing different undisclosed chemistry with lower operating temperature, higher voltage, lower cost (+) terminal Ambri Inc.

4 : Grant funding for MIT research GroupSadoway (2010) French energy company U.S. Dept of Energy ~$13M grant funding accelerated development. Grew team to 20 researchers Ambri Inc.

5 Publications Numerous publications, launched professorial careers of ~half dozen alumni. Demonstrated cost-effective chemistry by 2010, formed Ambri (formerly LMBC) Ambri Inc.

6 Ambri s investors Ambri has raised over $50 million in equity financing since its founding in 2010; Ambri s investors share our long-term vision for developing an electricity storage technology that will transform the electric power industry everywhere NECEC awards Ambri Emerging Company of the Year Global Cleantech 100 Bill Gates Chair, co-founder and former CEO Microsoft Total Founded in 1924; 2012 revenue of $240 billion Khosla Ventures Founded in 2004; Over $2 billion under management KLP Enterprises Family office of Karen Pritzker and Michael Vlock GVB Founded in 1807; Swiss insurance firm; ~$350B insured assets Series A undisclosed 2010 Series B $15MM 2012 Series C $35MM 2014 Ambri named one of 25 most audacious companies named by Inc. magazine 2013 Global Cleantech 100 and Rising Star of the Year Award Ambri named MIT Technology Review s 50 Disruptive Companies 2012 Sadoway s TED Talk on Ambri s Liquid Metal Battery has over 1.5 million views Professor Sadoway named Time s 100 most influential people in the world 2010 David Bradwell named MIT Technology Review's 35 innovators under Ambri Inc.

7 Ambri team Ambri Inc.

8 Ambri team Employee statistics Ambri leadership 37 full-time employees Median age is Headcount growth 6 4 Phil Giudice, CEO & President 40 years of experience in the energy industry; most recently Massachusetts Energy Undersecretary and Commissioner; formerly Executive at EnerNOC and senior partner and leader of Mercer Management Consulting's global energy utilities practice David Bradwell, Co-Founder, CTO & SVP Commercialization 11 years of experience on the Liquid Metal Battery Project; MEng and PhD in Materials Science from MIT Don Sadoway, Co-Founder, Chief Scientific Advisor Over 30 years at MIT as Professor of Materials Chemistry; author of over 150 scientific papers and holder of 18 U.S. patents; extensive research into the electrochemistry of molten salts Dec 2011 Dec 2012 Dec 2013 Dec 2014 Dec 2015 Oct 2016 Tech. dev. SG&A Kristin Brief, Vice President Corporate Development & Treasurer 13 years of experience in energy industry as a consultant and entrepreneur; formerly at EnerNOC and NERA Economic Consulting Greg Thompson, Director of Cell Development 4 years of experience on the Liquid Metal Battery Project; formerly post-doctoral fellow in Group Sadoway; PhD from the University of Illinois at Urbana-Champaign in Physics Hari Nayar, Director of Systems Engineering 11 years of battery & energy storage products design/deployment experience spanning defense, automotive, medical & utility industries. Formerly at AristaPower, Covidien & Ultralife. Ajit George, Director of Manufacturing Over 20 years of industry experience working as a manufacturing engineer and manager at BOSE, Honeywell, and Kiva Systems; previous focus on transitioning processes from R&D to high volume manufacturing Ambri Inc.

9 Cell progression Presently producing 4 x4 cells from prototype robotic manufacturing cell assembly system Cell size & system configuration driven by extensive cost modeling work Targeting 8 x8 x2 commercial cell size, ~500 Wh, testing underway Commercial Cell Progression development Sectioned Demo 4 x4 cell research production prototype 1 cell 4 circle 4 square 8 square Ambri Inc.

10 Cell Capacity (Ah) Ambri performance is unique: negligible fade < % capacity fade on full depth of discharge cycling; thousands of cells tested 70 Assembled in April > 3.5 years continuous operation at 550 C (accelerated), ongoing Ambri cycle life projected to be 98% capacity available after 10,000 cycles, providing decades of useful life and delivering storage for pennies per kwh stored over life of battery Cycles Ambri Inc.

11 Ambri s manufacturing Ambri manufacturing facility in Marlborough, MA; 19,700 SF to demonstrate processes & produce first commercial systems Li-Ion Annual MWh per $ million capital Ambri Built & installed prototype cell assembly equipment with ~6 MWh/year production potential Ambri Inc.

12 (V) (A) Beta Core operating with first 36 cell string Beta Core: 36 cells, ~700 hours operation, 60 cycles, 100 kwh cumulative discharge capacity View inside Core, racks and powder separate walls (h) Core operating at ~500 C with 36 cells since Fri Sept 9. Full Beta core operation with 432 cells scheduled for November Ambri Inc.

13 Commercial system design Container system: 4 towers in 20-foot ISO container o Capacity: 1.5 MWh o Rate capability: C/4 o DC:DC Efficiency: under wide range of use cases exceeds 80% o Response time: milliseconds switching from charging to discharging state o Voltage: ~500 V Up to 1.5MWh in a 20 ISO shipping container Ambri Inc.

14 Global expansion partnership opportunity Rapid growth through partnerships for selling, producing and deploying Ambri systems Year 1 deliver MWh systems to global partners for demonstration Year 2 with 2 to 4 global partners build manufacturing facility; initially 125 MWh per year capacity Year 3 build 2 to MWh/year factories with each employing ~200 Year 4 deploy 2 GWh/ year UNITED STATES EUROPE MEXICO CHINA INDIA BRAZIL SOUTH AFRICA AUSTRALIA Ambri Inc.

15 Thank you for your interest To learn more: Visit Subscribe to company updates Phil Giudice Chief Executive Officer ext. 450 David Bradwell Chief Technology Officer ext. 451 Don Sadoway Co-Founder, Chief Scientific Advisor and Board Member Kristin Brief VP of Corporate Development ext Ambri Inc.

16 MW/MWh Number of Projects The market for energy storage Significant growth has happened in the storage market. Storage scale today akin to solar in 2006: poised for explosive growth. Enormous Market Potential Energy Storage Project Announcements Lux Research: $50B by ,000 MW MWh #Projects 300 Piper Jaffray: $600B market over years 5, Boston Consulting Group: $400B market by ,000 3, EPRI/DOE: Annual savings of $50B/year via energy storage 2,000 1, Project announcement year YTD 0 Sources: Source: DOE Energy Storage Database, as of 8/31/2016. Excludes pumped hydro and compressed air projects Ambri Inc.

17 (000s) TWh $ Billions Ambri on path to transform global power markets Electricity demand worldwide is increasing as populations and economies grow. Massive infrastructure investment is needed -- $17 trillion; storage can significantly reduce needed infrastructure. Storage will change how electric systems are engineered building to average demand rather than peak. Global Market, Worldwide Investment, Capacity Needed with and without Storage ,000 Capacity Today ,000 6,000 5,000 4,000 3,000 2,000 $5,332 $7,181 MW Peak Demand Average Demand Capacity with Storage ,000 $1, Transmission Distribution Generation hours Source: IEA, World Energy Outlook Ambri Inc.