Spear Overview & Technology

• Headquartered in Kansas City

• Founded in 2013, legacy dating back to 2005 (as Kokam America and Dow Kokam)

• 32,000 ft2 (2,973 m2) location, expansion available

• AS9100 Certified, Buy American compliant

• R&D cell manufacturing lines

An Experienced Supplier

Q1First European

Trident order

Q2Signed REV

contract

Q3DNV GL Type

Approval

Q4Commissioned

first li-ion PHEV

ferry in U.S.

Q1’19● Commissioning first

BEV ferry in the U.S.

● BV Type Approval

● Executing on >7

MWh of Trident orders

2018 in Review

The Asset of Flexibility

• Versatility of cooling options• Spear is only vendor that can offer both air- and liquid-cooled high energy

systems with DNV GL approval →maximizes customer value• Cheaper to add liquid cooling than upsize air-cooled battery• Two-sided cooling on every module → extends battery life• Air and liquid-cooled batteries reside in exact same volumetric form factor;

liquid cooled systems still > 100 Wh/kg → 25% lighter and 10% smaller than next closest competitive solution in the industry

• Versatility to optimize to any space• Spear’s DNV GL type approval covers flexible system configurations, other

vendors only offer one variant• Front-facing power and communications connections enable optimal battery

arrangement in compartment →minimizes total battery footprint

• Versatility of product offering• A single product doesn’t meet all applications in commercial marine market• Ferry battery (energy cell) not the same as a spinning reserve battery (power

cell) → pick the right cell for the application

Arrangement Flexibility

• Flexible string configuration, enabled by forward-facing connections

• Liquid-cooled system

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Arrangement Flexibility

• Flexible string configuration, enabled by forward-facing connections

• Air-cooled system

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Battery on Board / Containerized Solutions

• Reduced rack depth options possible under common Trident type approval certificate

• Racks can be built to the ceiling, minimizes total battery footprint inside container where space is a premium →maximizes embedded energy in same volume!

CAN BE BUILT TO CEILING

2019/2020 Outlook

• More emphasis on the shipping/cruise industry globally• ECAs/Zero Emissions Zones (Scandinavia)

• IMO strategy to reduce GHG emissions

• Spear’s high energy Trident system (95 Wh/L and 110 Wh/kg) leads the industry!

• Battery tech advancements• Solid-state

• Li-metal

• Silicon nanowire

• Electrolyte development

• American market is accelerating• Passenger vessel/tourism market

• Inland waterways

• Gulf of Mexico