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NEP SOLAR AG
Antoine Millioud – Chairman of the Board Viara Nedeva – Member of the Board (rep. New Energies Invest)
Technoparkstrasse 1 – 8005 Zürich – Switzerland
CONFIDENTIAL Page 2
Steam generation for milk processing plant St. Moritz area, Switzerland
CONFIDENTIAL Page 3
70 -120°C
Tem
per
atu
re • Industrial Process Heat
• Solar Cooling • Seawater Desalination • Distributed Power
100 -300°C NEP Solar
PolyTrough
• DHW, Space heating • Solar Cooling (single stage) • Low Temp. Process Heat VacuumTube,
CPC Collectors
• Domestic Hot Water • Space Heating
40 - 60°C Flat Plate Collectors
Utility scale power generation
300 - 450°C
Large Troughs and Fresnel
Few players, low familiarity and level of adoption
<10kW 0.1 – 10 MW 20 – 500 MW 10-100kW
NEP Solar Application Segment – Medium Temperature, Medium Size
CONFIDENTIAL Page 4
Solar Thermal is the key renewable solution for
Process Heat
Solar Cooling reduces peak power
consumption
Power Generation
Industry
Buildings
Transport
Solar Thermal
Geothermal
Energy-efficiency
Solar Process Heat (Annual industrial heat market in Europe of 150Bln Euro)
Energy-efficiency
Biomass CHP
Wind, PV, Biomass
Wave and Tidal
Solar Cooling
Solar Thermal Power Plants (CSP)
Electric Vehicles
Biofuels
Fuel Cell
Public Transport
20% of annual global fossil fuel consumption is for industrial process heat
CONFIDENTIAL Page 5
NEP Solar at a glance • Technology development commenced 2005
• Founded in Australia 2008. Moved HQ and commercial unit to Zurich in 2011
• Market development:
• 2009: first revenues (Australia) and Intersolar award (Europe)
• 2010-11: five commercial installations in FR, ES, CH, and AUS
• 2012: confirmed five commercial installations in FR, CH, and AUS; technology de-risked
Solar cooling client site, Australia R&D Partners
CONFIDENTIAL Page 6
Viable market without subsidies in high DNI (solar radiation) geographies
Process heat costs conventional (oil) vs solar (example Amman, Jordan)
€/kWh
Year
1
2
1
2
Marginal cost heating oil derived process heat Price solar process heat 5 year amortisation Price solar process heat 15 year amortisation
Reduce total system costs significantly – initiative ongoing
Contracting services: sell heat not equipment – cooperate ESCOs and energy savings funds
-
0.02
0.04
0.06
0.08
0.10
0.12
0.14
0.16
2011 2013 2015 2017 2019 2021 2023 2025
CONFIDENTIAL Page 7
Designed to respond to key success factors experienced in the emerging market
Outlook: multiple medium sized projects delivered to cost-focused industrial clients all over the world
hence
• Centralised production & quality assurance
• Low shipping volume
• Very easy installation
• Low maintenance costs
NEP Solar Approach
• Light, self-carrying, stackable and precise reflector panels
• Central panel manufacture and QA, drive unit pre-assembled
• Quick and easy installation without specialized tooling
230m2 in 20ft container
Installed in 1 week
CONFIDENTIAL Page 8
Product family and cost evolution
PolyTrough 1800 • Saignelégier 2011/2012 • Fribourg 2011/12
PolyTrough 1200B • Bever 2011 • Cetiex Seville 2011
PolyTrough 1200 • PSA Almería 2010 • GPT Newcastle 2010/11 • Sotraex Avignon 2010/11
Cost saving 5%
Cost saving 20%
Further cost saving of 40% through design optimisation, better sourcing and volume
2013
CONFIDENTIAL Page 9
Key objectives and use of funds 2012-2014
• Win and realize large-scale sales contracts:
Strengthen sales & marketing team
Establish after sales service
• Accelerate market uptake through promoting contracting approach: sale of heat vs sale of equipment
• Break even in 2014
• Complete on-going strategic initiatives:
Design and supply chain optimization resulting in 40% cost reduction
Collector certification
Technology: direct steam generation project, evacuated absorber
MEUR 2.5 Capital Requirement
CONFIDENTIAL Page 10
Financials
2008 - 2010 2011 2012 2013 2014 2015 2016 2017
m2 sold 500 800 3'000 order based
Revenue (k CHF)
600 400 2‘300 actual billing based
Gross Margin
23%
Operating Expenses
220% 44%
Operating Margin
EBIT (kCHF) -2'120 -1‘270 -580
CHF 1’300k of the forecasted CHF 2’300k revenues for 2012 are already booked
CONFIDENTIAL Page 11
Backup
CONFIDENTIAL Page 12
• The market for solar process heat in Europe is driven by government subsidies and rising fuel costs.
• The National Action Plans of the member states define targets for installed solar thermal capacity per capita in 2020, whereby a proportion of this capacity will be in mid-size mid-temperature installations.
• Subsidies targeting mid-size installations are in place in France , Germany and Austria and being introduced in Italy and Spain.
Solar Thermal Installations in EU
All Solar Thermal Solar Process Heat ( about 4% of industrial demand)
Current capacity 2010 (GW)
2020 target capacity (GW)
Potential Capacity (GW)
Potential collector area (Mio m2)
Potential revenues
France 1.1 15.0 16 24 CHF 11 B
Italy 1.9 25.5 10 15 CHF 7 B
Spain 1.5 10.5 6 9 CHF 4 B
Portugal 0.5 2.8 1.3 2 CHF 1 B
Sources: 2011 analysis published by ESTIF and 2008 analysis published by IEA task force 33
CONFIDENTIAL Page 13
Sales Process with System Integrators
NEP Solar
Integrator / Local Partner
End Client
• Supports local partner during sales • Supplies equipment • Supervises installation and commissioning
• Sources project and has end client contact • Engineers integration solution • In charge of implementation
• Procures solar process heat or solar cooling • Readies site and supports local engineering
contractor during execution
3rd Party Logistics
Partially outsourced manufacturing
In-house product development &
procurement
• NEP Solar supplies complete NEP Solar branded solar collector fields as a subcontractor to general contractors
• NEP Solar’s in-house system engineering capabilities support the client during project development
CONFIDENTIAL Page 14
Clients & Partners
Energy Systems Integrators
ESCOs Engineering Consultants
Multinational Industrial Clients
• End-client access
• Provide turn-key heating and cooling solutions
• May have own equipment like steam boilers
• End-client access
• Build, own and operate process heat or cooling equipment
• Longer investment pay-back period
• similar energy savings funds
• Typically each industry has 2-3 main design consultants
• Preferential access to end-client
• Provide leads to new opportunities
• Interest in lowering production costs
• Typically approach NEP directly or via a scientific advisor
• Often with multiple international locations
• M+W Zander • Acciona • MEI
• Dalkia / Veolia • IWB • ewz
• Tecsol • Arup • BMG
• Novartis • Nestlé • Emmi
CONFIDENTIAL Page 15
Thermal output depends on direct solar radiation (DNI)
CONFIDENTIAL Page 16
Committed Projects for 2012
Projekt Fläche/Leistung Anwendung Innovation F&E Partner
Switzerland 1
600m2 / 300kW th 130°C
Prozesswärme für Käserei
Neuer PolyTrough1800 Kollektor
Leistungsmessungen durch SPF Rapperswil
Switzerland 2 580m2 / 280kW th 150°C
Prozesswärme für Kaffeerahmproduktion
Montage auf geneigter Fläche, verlängertes Kollektormodell
Leistungsmessungen durch SPF Rapperswil
Switzerland 3 120m2 / 60kW th Direktverdampfung und Einspeisung Mitteldrucknetz KVA
Direktdampferzeugung im Kollektorfeld
KTI Projekt mit SPF Rapperswil, DLR, IWB
South France 120m2 / 60kW th Schlammtrocknung Erstes Projekt in Frankreich, neuer Anwendungsbereich
Sotraex, Bertin Technologies
Gold Coast, Australia
200m2 / 100 kW th Warmwasser, Solare Kühlung
In 2. Etappe Umrüstung auf kombinierten PV- und thermischen Receiver
Australian National University, CSIRO
NE Coast, Australia
280m2 / 150kW th Stromerzeugung + Schwimmbadheizung
Hochtemperatur-Receiver, ORC, Direktverdampfung
Australian Solar Institute
CONFIDENTIAL Page 17
2010/11 - 230kW Solar Cooling, Shopping Center Newcastle, Australia
Project Data
Aperture: 345m2
Peak Thermal Power: 200kW Outlet Temperature: 180°C HTF: Water Application/End Use: Air conditioning Schedule Order Received: 31 August 2009 Ex Works: Staged till July 2010 Assembly Completed: 15 October 2010 Commissioning : April 2011 Hand-over to client: October 2011 Technical PolyTrough 1200
CONFIDENTIAL Page 18
2011 - Process Steam for Diary Plant, Swiss Alps
Project Data
Aperture: 115m2
Peak Thermal Power: 70kW Outlet Temperature: 140-180°C HTF: Thermal oil Application/End Use: Process Steam Schedule Order Received: November 2010 Ex Works: February 2011 Installed: June 2011 Commissioning : Oct. 2011 Technical PolyTrough 1200 PTC2.0 New non-counterweight design New tracking control system Harsh environment (1700 m altitude)
CONFIDENTIAL Page 19
Thank you for the attention!