Storing Electricity for Our Future October 2016 19 Blackstone Street Cambridge, MA 02139 617.714.5723 www.ambri.com
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 2 2016 Ambri Inc. 2
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 3 2016 Ambri Inc.
2006-2010: 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. 4 2016 Ambri Inc.
Publications Numerous publications, launched professorial careers of ~half dozen alumni. Demonstrated cost-effective chemistry by 2010, formed Ambri (formerly LMBC) 5 2016 Ambri Inc.
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. 2014 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 35 6 2016 Ambri Inc.
Ambri team 7 2016 Ambri Inc.
Ambri team Employee statistics Ambri leadership 37 full-time employees Median age is 30 40 35 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 30 25 5 4 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 20 15 10 5 0 5 32 33 29 25 3 16 7 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 8 2016 Ambri Inc.
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 9 2016 Ambri Inc.
Cell Capacity (Ah) Ambri performance is unique: negligible fade < 0.0002% capacity fade on full depth of discharge cycling; thousands of cells tested 70 Assembled in April 2013 60 50 > 3.5 years continuous operation at 550 C (accelerated), ongoing 40 30 20 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 10 0 0 500 1000 1500 2000 2500 3000 Cycles 10 2016 Ambri Inc.
Ambri s manufacturing Ambri manufacturing facility in Marlborough, MA; 19,700 SF to demonstrate processes & produce first commercial systems 10 8 6 4 2 0 Li-Ion Annual MWh per $ million capital Ambri Built & installed prototype cell assembly equipment with ~6 MWh/year production potential 11 2016 Ambri Inc.
(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. 12 2016 Ambri Inc.
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 13 2016 Ambri Inc.
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 4 500 MWh/year factories with each employing ~200 Year 4 deploy 2 GWh/ year UNITED STATES EUROPE MEXICO CHINA INDIA BRAZIL SOUTH AFRICA AUSTRALIA 14 2016 Ambri Inc.
Thank you for your interest To learn more: Visit www.ambri.com Subscribe to company updates Phil Giudice Chief Executive Officer pgiudice@ambri.com 617.714.5723 ext. 450 David Bradwell Chief Technology Officer dbradwell@ambri.com 617.714.5723 ext. 451 Don Sadoway Co-Founder, Chief Scientific Advisor and Board Member dsadoway@mit.edu 617.253.3487 Kristin Brief VP of Corporate Development kbrief@ambri.com 617.714.5723 ext. 453 15 2016 Ambri Inc.
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 2020 6,000 MW MWh #Projects 300 Piper Jaffray: $600B market over 10-12 years 5,000 250 Boston Consulting Group: $400B market by 2020 4,000 3,000 200 150 EPRI/DOE: Annual savings of $50B/year via energy storage 2,000 1,000 100 50 0 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Project announcement year YTD 0 Sources: https://portal.luxresearchinc.com/research/report_excerpt/17257, 2014 http://www.eosenergystorage.com/articles/piperjaffrayenergystor2009-02.pdf, 2009 https://www.bcg.com/documents/file72092.pdf, 2011 http://www.sandia.gov/ess/publications/sand2013-5131.pdf, 2013 Source: DOE Energy Storage Database, as of 8/31/2016. Excludes pumped hydro and compressed air projects. 16 2016 Ambri Inc.
(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, 1990-2035 Worldwide Investment, 2012-2035 Capacity Needed with and without Storage 35.0 8,000 Capacity Today 30.0 25.0 20.0 15.0 10.0 18.4 31.9 7,000 6,000 5,000 4,000 3,000 2,000 $5,332 $7,181 MW Peak Demand Average Demand Capacity with Storage 5.0 10.1 1,000 $1,849-1990 2010 2035 - Transmission Distribution Generation hours Source: IEA, World Energy Outlook 2012 17 2016 Ambri Inc.