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Off-grid power solution replaces diesel generators
- 1. The world needs off-grid power Siqens is set to replace the diesel generator Cleantech Innovate | 20th March 2018 | London, Thomas Esser | Director Investor Relations & Partnering esser@siqens.de
- 2. Revenue €1M €10M €25M 2017 2019 2021 2020 2022 2023 €50M€100K 2018 Telecom rollout Commercial & utility EVs Rural electrification Industrial IoT rollout 2-3 kW Telecom & EV pilots Industrial IoT customer pilot Commercial EV demonstrator • Cost reduction by volume & known technologies • Target price <€4,000/kW @ 10,000 units • Entry markets: fuel cells are established • Volume markets: ROI driven (vs. generator) Entry markets Volume markets Our market roadmap to a >€10,000,000,000 opportunity From early adopters towards volume markets
- 3. Patented methanol fuel cell technology Plug-and-play battery charging solution, noiseless and emission free • 3000 h service interval • 70% reduced fuel cost • >99% reduced emissions • Internationally patented IP • CE certified commercial product • Compatible with all batteries
- 4. $$ Up to 70% cheaper than Diesel Worldwide available commodity, low cost infrastructure Strategic reduction of oil imports #1 Power to liquid electro fuel in Germany, #1 future fuel in China & India Pathways to clean fuel: CO2 capture, non-food biomass, waste to fuel Our Key to success: The #1 future fuel is Methanol Globally available commodity from conventional and renewable feedstock
- 5. Industrial IoT: 70% lower fuel cost Existing fuel cell markets Commercial EVs: 70% more range Independence from charging infrastructure • Successful customer trials • First >€2M commercial LOI • Trials & rollout scheduled 2018/2019 Source: StreetScooter / Deutsche Post DHL Group • Completed driving cycle simulations • Building consortium for pilot project • Goal: build demonstrator in 2018 Traction in early adopter markets: stationary & mobile Market access through system integrators
- 6. Wind turbine Installations p.a.: Germany: 2,500 Europe: 2,500 US: 4,000 China 11,000 ECOPORT Benefits • 70% less fuel cost • 99% less emissions • 3 months continuous operation • No refueling, no maintenance, no noise Traction: Finalizing >€2,000,000 LOI with lead industry player Eliminating auxiliary gasoline generators during construction phase
- 7. China 115,000 bad-grid base stations 75% fuel savings potential Siqens Ecoport can save $356,000,000/y on Diesel fuel Our methanol fuel cell is key to reduce Telecom Network OPEX
- 8. 8 The right mix to build our business Our management team combines diversity and operational excellence with more than 70 years of fuel cell experience Eilhard Stohldreier Head of R&D Volker Harbusch CEO, Founder Stefan Weis CFO Klaus Wanek Director Production & Operations Thomas Esser Director Investor Relations & Partnering Andreas Schäfer Director Sales & Marketing
- 9. Revenue €1M €10M €25M 2017 2019 2021 2020 2022 2023 €50M€100K 2018 Telecom rollout Commercial & utility EVs Rural electrification Industrial IoT rollout 2-3 kW Telecom & EV pilots Industrial IoT customer pilot Commercial EV demonstrator • Protected IP • Proven team • Existing product – low technological risk • Low barriers – existing fuel infrastructure Customer pilots <1M revenue Q4 EBIT positive Milestones & targets >€13 M revenue Investment rationale: >€10M EBIT €2-3M from new investor(s) in €5-6M B-round with existing investors Thomas Esser | Director Investor Relations & Partnering esser@siqens.de | +49 89 4524463 134 Siqens GmbH | Landsberger Straße 318 d | D-80687 Munich www.siqens.com Target: Let’s disrupt the generator industry Siqens is one of the most exciting investment opportunities in the energy sector
- 10. Certain information set forth in this presentation contains “forward-looking information”, including “future oriented financial information” and “financial outlook”, under applicable securities laws (collectively referred to herein as forward-looking statements). Except for statements of historical fact, information contained herein constitutes forward-looking statements and includes, but is not limited to, the (i) projected financial performance of the Company; (ii) completion of, and the use of proceeds from, the sale of the shares being offered hereunder; (iii) the expected development of the Company’s business, projects and joint ventures; (iv) execution of the Company’s vision and growth strategy, including with respect to future M&A activity and global growth; (v) sources and availability of third-party financing for the Company’s projects; (vi) completion of the Company’s projects that are currently underway, in development or otherwise under consideration; (vi) renewal of the Company’s current customer, supplier and other material agreements; and (vii) future liquidity, working capital, and capital requirements. Forward-looking statements are provided to allow potential investors the opportunity to understand management’s beliefs and opinions in respect of the future so that they may use such beliefs and opinions as one factor in evaluating an investment. • These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward- looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or result expressed or implied by such forward-looking statements. • Although forward-looking statements contained in this presentation are based upon what management of the Company believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements. Disclaimer Forward looking statements
Notes de l'éditeur
- The world needs off-grid power. There are still 1.3 bn people in the world without access to electricity. Most off-grid power for critical infrastructure comes from diesel or gasoline generators. Can you imagine to eliminate the noise and emissions, and reduce the cost of electricity in this multi billion $ market.
- The 20 bn global genset market is expected to double in the next 10 years. We have roadmapped a plan to enter these multi-billion$ markets, develop our portfolio, and reduce product costs to 40% per kW. We work with system integrators for the market entry, where fuel cell solutions are established. The next step is scaling into volume markets with Energy as a service business models and a low cost 2-3 kW product for telecommunications and cooling trucks, based on existing technology. After 2022 we will beat diesel generators also in CAPEX sensitive mainstream applications and provide power for people without electricity access.
- Siqens has the enabling methanol fuel cell technology with international intellectual property to create a plug and play battery charger. The patented ‘4CycleTec’ technology transforms Methanol to Hydrogen by recycling all energy and media flows (heat, fuel, water, and catalyst electrolyte). It improves efficiency and durability as well as reducing purchase and operation costs, Featuring • World leading >40% system efficiency • Unmatched temperature range -40 to +55 °C • Lifetime potential of up to 50,000 h • Use of standard industrial components and materials
- One key to success is Methanol fuel. It is globally available, cleaner and cheaper than fossil fuels. It provides INDEPENDENCE FROM Oil. In Germany, Methanol is regarded as the leading power to liquid electro fuel, generated from captured carbon dioxide and excess renewable electricity. It can also be generated from other renewable feedstocks like waste or non-food biomass. Methanol is a globally available commodity fuel with existing infrastructure . We are the only fuel cell company to use standard industrial Methanol from any source. In China 7% of transportation already runs on locally produced methanol. Key driver is reduction of oil imports. The same development is starting in India. DETAILS: The conversion of petrol stations costs <$4000 (China, Source Palcan). Siqens Methanol systems offer the most kWh/l of fuel, the fuel is most economical from all quickly rechargeable fuels. Diesel generators still excel in power density, but fuel cost is higher and maintenance is more frequent. Hydrogen is not competitive due to infrastructure power density and logistics, Batteries are no fuel, cannot generate electricity, are heavier, bulkier, and recharging takes much longer. Assumptions: Tesla system 544 kg approx. 500 l, Siqens System 3 kW RE with 38 l Methanol tank, $/l Gasoline $0,69 Diesel $0,69 Methanol $0,26 Hydrogen $- 30$/50 l,Battery 1060 cycles, 550 $ installed replacement price, 0.15$ grid=12000/85
- Fuel cell solutions are established in the early stationary markets. We work with system integrators for the market entry. For 2018 we are also preparing smart mobility demonstrators with European Chinese system integrators, to prove that we can increase commercial electric vehicle range by more than 70% and make these vehicles independent from charging infrastructure. System integrators with market access and fuel cell experience are waiting for our product to launch. We already beat the market leader in price and performance. In the stationary segment we tested our solution with Lanthan, a key supplier to Germany’s leading wind turbine manufacturer. We are planning to roll out up to 200 units until the end of 2019 and replace gasoline auxiliary generators during the construction of wind turbines. Transportation is electrified in order to reduce emissions. The challenge is the charging infrastructure. We solve the problem of range limitation, missing charging infrastructure and charging time. We charge these vehicles while driving, are able to refuel within seconds. Even a 800W methanol fuel cell can dramatically increase the range of commercial EVs by more than 70%. We have driving cycle simulations for Beijing to prove this.
- We developed our first commercial stationary application with Lanthan, replacing generators during the 3 months construction phase of wind turbines for Germany’s leading wind turbine manufacturer. They tested our solution and wee are planning to roll out up to 200 units in the next 2 years.
- We are investigating a high volume business case in China and India with our partners to reduce Telecom network OPEX with our 2-3 kW Ecoport fuel cell. This $350m saving opportunity is based on the price difference of $0.43 per l between Methanol and Diesel and 3-4x higher fuel efficiency. I presented these figures during the global Belt&Road initiative in Beijing in June 2017. We are investigating co-operations with key partners to enter the Chinese and Indian markets for similar applications. China Bad grid BTS business case assumptions: Total 1,500,000 BTS | 115,000 off-/bad-grid BTS Av. runtime 12 h x 365 days | Av. consumption 1,9 l/h 8332 l/y per BTS | Network consumption 832,200,000 l/y Diesel $ 356,000,000 annual savings
- It is our people who made the founder’s technology vision come true. That it’s also because the management team’s diversity and competence to build our company, combined with more than 70 years of lessons learned from all major fuel to players. We have reached product stage with a fraction of the typical cash requirement. That’s because the management team unites about 70 years of lessons learned at all major fuel cell players – including Ballard and SFC, Truma, Heliocentris and Proton Motors. Our next common goal is to monetize our superior technology. TEAM DETAILS: Volker Harbusch | CEO, Founder | Inventor, technology aficionado, 17 years in fuel cells, multiple HTMFC and other patents Stefan Weis | CFO | Eye on finance, 24 years management experience in controlling and finance | 11 years financial head in companies from 5 to 7,000 employees Thomas Esser | Director Investor Relations & Partnering | Market & product strategist, Inventor, management consultant, fuel cell expertise since 1997 from corporate to start-up, €30 M+ energy efficiency product launch, Co-founded digital music startup in 1994 Andreas Schäfer | Director Sales & Marketing | Serving the customer, 7 years International sales & marketing, Off-grid markets & new energy technologies, Specialist in B2B and channel distribution Eilhard Stohldreier | Head of R&D | The team spirit, 15 years fuel cells background, specialist in HT-PEM technology, 9 years, leading customer applications Klaus Wanek | Director Production & Operations | Delivery & Quality, 18 years in production development, Specialist in process & project management
- In order to replace generators in their multi billion market, we have synchronized our product roadmap, go to market plan, and financial planning. To commercialize and break even in 2020, we are aiming to raise 2-3 M from a new investor in a 5-6M B-round with our existing investors. The next step is scaling into volume markets with Energy as a service business models and a low cost 2-3 kW product for telecommunications and cooling trucks, based on existing technology. Come to see us to discuss why Siqens is one of the most exiting energy and smart mobility investments. Thank you and hope to see you soon.
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- In the beginning we are targeting the markets where fuel cell solutions are established and our technology is very competitive. System integrators with market access and fuel cell experience are waiting for our product to launch. We already beat the market leader in price and performance. In the stationary segment we tested our solution with Lanthan, a key supplier to Germany’s leading wind turbine manufacturer. We are planning to roll out up to 200 units until the end of 2019 and replace gasoline auxiliary generators during the construction of wind turbines. Transportation is electrified in order to reduce emissions. The challenge is the charging infrastructure. We solve the problem of range limitation, missing charging infrastructure and charging time. We charge these vehicles while driving, are able to refuel within seconds. Even a 800W methanol fuel cell can dramatically increase the range of commercial EVs by more than 70%. We have driving cycle simulations for Beijing to prove this.