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UmicoreRechargeable Battery MaterialsJune, 2014
Agenda
Introduction to Umicore
Umicore Rechargeable Battery Materials
Li-Ion Battery market trends
Introduction to Umicore
• We are a global materials technology & recycling company
• Our mission is to make “materials for a better life”
• The majority of our growth comes from clean technologies:
technologies that are specifically designed to optimize the use of natural resources and to reduce environmental impact
• We are listed on NYSE / Euronext Brussels with a market capitalization of some € 4 billion
3
Umicore, global leader in …
Automotive catalysts for passenger cars
Key materials for rechargeable batteries used in portable electronics and hybrid & electric cars
Germanium substrates and other materials which are used in new photovoltaic technologies
Recycling precious metals from old mobile phones, laptops, electronic scrap and spent catalyst material
4
Umicore’s business approach
• We transform metals into hi-tech materials
• We use application know-how to create tailor-made solutions in close collaboration with our customers
• We close the loop and secure supply by recycling production scrap and end-of-life materials
• We aim to minimize our environmental impact and be the best employer and neighbour
materialsolutionsMetals
Applicationknow-how
Recycling
Materialsolutions
ChemistryMaterial science
Metallurgy
5
Key megatrends for UmicoreMore stringent emission controlResource scarcity
Renewable energy Electrification of the automobile6
Umicore in figures
2013
Turnover € 9.8 bn
Revenues € 2.4 bn
REBIT € 304 m
REBITDA € 463 m
ROCE 13.6%
EPS € 1.96 / share
Dividend € 1.00 / share
7
Umicore Group structure
8
Agenda
Introduction to Umicore
Umicore Rechargeable Battery Materials
Li-Ion Battery market trends
Umicore Rechargeable Battery MaterialsFact Sheet
2014
Market Share 1 out of 5 batteries ever made contains Umicore material
15+ xEV platforms on the market in the next years
Track Record >60.000mT cathode material produced (accumulated)
>15 years in the market
Production 5 production sites (KR, JP, CN, BE)
TS16949, ISO9001, ISO14001
Portfolio Cathode: LCO, NMC, NCA, LFP
All Power/Energy ratios covered
R&D 3 R&D sites, 2 application labs
50% products sold are less than 3 years on the market
10
Umicore Global Li-ion Battery SetupClose to the (end-)customer
Applied Technology
• Battery Lab (KR, JP)
Customer Teams
• Dedicated teams • Sales & Marketing• Applied Technology
in EU, US, KR, JP, CN, TW
Production
• Precursor and Productin KR, CN, JP, BE
Worldwide activities in rechargeable battery materials
Research & Development•• Precursor and Product
R&D (KR, JP, BE)• Group R&D (BE)
11
Umicore’s unique experience
RBM has produced enough cathode materials to:
Provide a smartphone to every person on this planet
Power more than 1Million EV´s
12
Umicore’s position in the LIB Value ChainStable supply is key for our customers
• Strong application focused cathode material producer fully integrated for
strategic raw material supply, including recycling
13
Agenda
Introduction to Umicore
Umicore Rechargeable Battery Materials
Li-Ion Battery market trends
Li-Ion Battery market trends (1)
• LIB-production quite volatile over the year Portable electronics : device launches create erratic demand pattern Automotive : strong fluctuations but gradually growing Cylindrical cell business seems under stress except for the Tesla-business Polymer >> Prismatic > Cylindrical Structural overcapacity creates unhealthy price erosion at cell makers
• Gap between high-tech segment and mainstream/low end increasing High-tech segment : thin and flex form factor, high capacity, high power Top cell performance = combination of high-tech material solutions Low end is threatened by high technology solutions (4 x 3.2Ah iso 6 x 2.2Ah)
16
Li-Ion Battery market trends (2)
• New and growing LIB-applications are numerous : Mobile dataloggers, gardening tools, DIY-tools, boost power, medical
equipment, autonomous workstations, data transmission, 12V- and 48V-car systems, grid frequency regulation, back-up power, peakshaving, e-bikes,…
Personal mobile connectivity (smart phones, phablets, tablets,…)
• Declining applications exist as well : PC shipments decline significantly and so does 18650 demand Low feature phone shipments decline
• Automotive : diversification ! From Start-Stop to full Electric Vehicle From 18650, over large CYL and POL all the way to +30Ah Prismatic From LFP, over LMO/NCA all the way to NMC
1716
Specific priorities for different market segments
• Electronics : Wh/L, safety and low swelling• Power Tools : W/kg, safety, fast charging• Automotive : Wh/L + US$/kWh OR W/kg @ -20°C + US$• ESS : TCO per cycle, over 15yr horizon
Electronics Power Tools Automotive ESS
Design cycle < 1yr < 1yr 2-4yr 1-2yr
P/E Low High Low to High High
Cost Medium-High High Medium Low-Medium
Cathode LCO-NMC NMC-LMO NMC-LMO LFP-NMC
1817
Portable electronicsMore … in less …
Physical density (g/cc)Ele
ctro
chem
ical
per
form
ance
(Wh/
g)
LCO
NMC-family
Strictly Confidential 19
LiNiO2
LiCoO2 LiMnO2
Cellcore® MXNMC (1:1:1)
Automotive Gen.2 towards lower $/kWhThrough higher performance or lower cost
Two parallel paths depending on company knowhow and strategy
Higher Ni contentPushes energy density• Increase kWh/kg
• Maintaining cost/kg
⇒ Decreases cost/kWh
Lower Co contentReduces metal cost• Decrease cost/kg
• Maintaining kWh/kg
⇒ Decreases cost/kWh
Cost/kWh
NMC (1:1:1) 100%Low Co 75% - 80%High Ni 75% - 80%
20
Understanding ESS specific requirementsC
harg
e-D
isch
arge
freq
uenc
y
~20 times per yearCapacity Credit,Energy Back-up
4-8 hours storage
4*15 minutes of cycling* 250 days per year
= 1 000 cycles per yearFrequency regulation,
Windmills15 min – 1 hour storage
~20 times per yearPower quality,
Primary reserve15 min – 1 hour storage
1 cycle per day* 250 days/year
= 250 cycles per yearLoad Leveling, PV,
Arbitrage4-8 hours storage
(Minutes) Storage duration (Hours)20
Umicore Rechargeable Battery MaterialsSummary • Umicore Rechargeable Battery Materials serves a fast growing market
with a broad product portfolio
• Different market segments call for different product solutions and market segments are in a different stage of market development
Portable Electronics will remain the biggest LIB-application in next years
Use Li-ion in Automotive application is steadily growing and is expected to occupy a significant portion of the total material market towards the end of the decade
ESS application is the newest market segment but has also the potential to grow significantly as a result of increased renewable power generation and decentralized power generation
16
Thank you !