Investor presentation

Transcription

1 Investor presentation

2 Making Green Happen

3 Greenstat today Funding Existing projects Growth opportunities Investment information Risk factors

4 Greenstat - Making Norway green and proud! Inspired by the success of Statkraft and Statoil Born at Christian Michelsen Research Knowledge-based Now out to grow Seeking capital to speed up the greening of Norway Opportunities in Hydrogen, Local energy and more Starting in western Norway with room to grow Local energy in decentralized systems Hydrogen to industry, shipping and cars Export to the world

5 Vision: MAKING GREEN HAPPEN Green Energy company Owning assets Selling energy Technology neutral In partnership with key stakeholders Profitable, but purely sustainable Long term 2050 perspective! Some investments needed up front Employ people with sustainability mind-set Cost effective in green cluster near Christian Michelsen Research

6 Today s organisation Project team (hired) Project manager Hydrogen Project manager Maritime Project manager Local Energy Vegard Frihammer Green Executive Officer Bernt Skeie, Executive Chairman Students Master student Energy, UIB Master student UIB

7 Greenstat founding fathers and network Founding fathers Knowledge partners Industry CSR partners Public funding CMR Trond Mohn Sparebanken Vest Innovasjon Norge UIB Hellenes AS Fana Sparebank Regionalt forskingsfond NHH Angarde Bidra.no Hordaland Fylkeskommune HIB Bergen Chamber of Commerce Lindås/ Austrheim kommune Nordahl Grieg Wärtsilä

8 From words to action Until now, main focus has been: Building network Identifying business areas Raising capital Both from private investors and public funding Collaboration agreements Both private and public Identification of possible projects Mostly within hydrogen both for industry and transport (road and maritime) Some revenues from projects already Now: Raising more capital Realisation of identified (and new) projects

10 Contributions from founding fathers and public funding Contributors Amount (NOK) METEVA Trond Mohn Christian Michelsen Research (CMR) Wärtsilä (in kind) University of Bergen Sparebanken Vest Fana Sparebank Bergen Teknologioverføring AS (BTO) Bergen University College NHH (in kind) Bergen Chamber of Commerce and Industry Auto 23/M. Fredriksen Angarde AS Hellenes Crowfunding (bidra.no) Others Public funding Amount (NOK) Innovation Norway fase Regional Research Fund preproject ZeVision HFK Danmarksplass Hydrogen station Lindås and Austrheim city council Mongstad Spinn fund Mongstad H2 production Innovation Norway fase Innovation Nroway TiZir preproject

11 Ongoing and planned applications Amount Ongoing (NOK) Regional Research Fund Main project ZeVision Green cluster pre project Lindås City council preproject Hydrogen production run of river Høyanger Næringsutvikling preproject hydrogen production Planned Hydrogen export study NHH Energy study infrastructure /distribution Hydrogen stations Hordaland / Sogn og Fjordane Hydrogen supply project, Ferries Hydrogen supply project, other vessels Hydrogen supply project, Green fish farms Local energy project, Industry buildings Local energy project, City planning Green Technology and Energy Conference GTED2016 Large scale hydrogen production plant Green Recycle project Amount (NOK)

13 Large scale hydrogen production Tizir titanium & iron wants to replace coal with hydrogen at their titanium and iron upgrading facility in Tyssedal First step: demonstration plant for hydrogen ( ) with Enova support (NOK 122 million Second step: full-scale pilot (2020) Up to 30 tons of hydrogen per day needed Yearly income based on 23 NOK per kg, approximately 250 MNOK

14 In October 2015 GreenStat signed a letter of intent with Tizir and SKL Sunnhordland Kraftlag (SKL): Supplier of power GreenStat: Producer and distributor of hydrogen to the facility TiZir: Customer

15 Statoil Mongstad Green hydrogen to be used for refining Johan Sverdrup oil Budget H2 price study presented at Statoil Mongstad on the 15 th of January 2016 Equivalent in size to the TiZir project ~30 Ton H2 per day. Hydrogen to be supplied over the fence. H2 factory built according to industry standard to reduce cost. Study sponsored by Lindås and Austrheim city councils, SPINN (SPV) fund, Greenstat and in kind contributions from Statoil Mongstad and the main hydrogen players in Norway (NEL, Siemens, Gexcon, DNV GL, Sweco, IUV, Hexagon, BKK Nett, ++) Project put on hold by Statoil, but might be restarted. Political pressure and need for jobs could speed up the process. Statoil Refinery (TCM) Greenstat BKK

16 Hydrogen fuelling stations «Grønt Energipunkt» - Danmarksplass GreenStat will be one of the investors Together with Industrial partners, Bergen Kommune and Hordaland Fylkeskommune Milestones 20 letters of intent Industrial partner Enova support Challenge Very low annual consumption Good for users, but lower income to investors Base case for growth to 1000 cars Annual net cash flow (NOK)

17 Hydrogen in the maritime sector Greenstat role in maritime projects: Production and distribution of hydrogen Projects: Osterøyferjen Status: Ongoing preproject Rødne, fast going vessel Status: Completed preproject Seasight, tourist passenger vessel Status: Establishing LOI Network Close relation to NCE Maritime Cleantech

18 Hydrogen Export Greenstat in dialogue with Japanese and Norwegian governments Strategic positioning focusing on renewable hydrogen production only Visit to Japan April 2016 Norwegian renewable energy. Surplus, reliable and low cost. Kawasaki Heavy industries (Japan) Liquid Hydrogen Carrier Japanese starting to import hydrogen. Tokyo OL 2020 H2 Showcase

19 ZeVision model for building energy scenarios GreenStat has developed a tool to understand the complexities in the energy sector (ZeVision) help the company identify the best business cases in the transition from fossil fuels to zero emission solutions Also sold as service to external customers Some projects already: Assessment study for Sogn og Fjordane Fylkeskommune (Value: NOK) Study on hydrogen stations for Hordaland Fylkeskommune (Value: NOK) Picture: Illustration of

20 Local energy - not for profit for now Grønt Galleri: local pop up art Collaboration with Angarde AS Aim: Show art and promote commitment to recycling and green production in Bergen Floating housing First project: Etcet Cat Almost self-sufficient with power solar, wind, wave and tidal Role of GreenStat: technology implementation Collaboration with Miljø & Energy and Alfa24 Several future opportunities ZeroVillage, Grønn By (Fyllingsdalen)

22 ...now more investors are invited in NOK 3-9 million offered as shares in 2016 Take part in an interesting company with drive and potential Your share in the next green revolution in Norway Money will be used to expand the company Get ready for Tizir and other industrial demand Grow team and facilities Invest in hydrogen production and infrastructure Invest in local energy projects Further opportunities

23 GreenStat: Long term investment The company will be profitable, but not for a while Significant up-front investments needed Profits depend on demand growth some efforts being made here Large upside, if demand takes off With infrastructure in place, few new investments needed Early mover in region could be advantage Local connection and strong network Partnerships with other players Possible IPO at a later stage

25 Private placement information Shares Value of each share NOK 1.50 Number of shares 2 6 million Value of shares NOK 3-9 million Open to all - «shares for the people» Minimum investment 500 shares equivalent to NOK 750 Maximum investment shares equivalent to NOK Private placement period Start 4 th of March 2016 End 25 th of April 2016 More information to be found in the Greenstat Term Sheet

26 Ownership structure Per Post emission Nr Antall aksjer Eierbrøk Organisasjon ,3 % Angarde ,5 % BTO ,3 % Hellenes ,8 % CMR ,2 % UIB Student ,2 % HIB Student ,3 % Trond Mohn ,3 % Daglig leder ,3 % UIB/ UNIFOB ,8 % SKL Total % Low Nr Antall aksjer Eierbrøk Organisasjon ,1 % Angarde ,2 % BTO ,1 % Hellenes ,3 % CMR ,1 % UIB Student ,1 % HIB Student ,5 % Trond Mohn ,1 % Daglig leder ,5 % UIB/ UNIFOB ,3 % SKL ,6 % New owners Total % High Nr Antall aksjer Eierbrøk Organisasjon ,0 % Angarde ,1 % BTO ,0 % Hellenes ,6 % CMR ,1 % UIB Student ,1 % HIB Student ,2 % Trond Mohn ,0 % Daglig leder ,2 % UIB/ UNIFOB ,1 % SKL ,4 % New owners Total %

27 How to invest in GreenStat? Go to our web site and join the I m making green happen campaign.

29 Risk factors Investing in shares issued by Greenstat involves inherent risks. Prospective investors should consider, among other things, the risk factors set out herein before making an investment decision. The risks described below are not the only ones facing the Company. Additional risks not presently known to the Company or that the Company currently deems immaterial may also impair the Company s business operations and adversely affect the price of the shares. If any of the following risks actually occur, Greenstat s business, financial position and operating results could be materially and adversely affected. A prospective investor should carefully consider the factors set forth below and should consult his or her own expert advisors as to the suitability of an investment in the shares. All information in this Presentation is presented as of the date hereof and is subject to change, completion or amendment without notice. All forward-looking statements included in this document are based on information available to the Company on the date hereof, and the Company assumes no obligation to update any such forwardlooking statements. Forward-looking statements will, however, be updated if required by applicable law or regulation. Investors are cautioned that any forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties, and the actual results may differ materially from those included within the forward-looking statements as a result of various factors. Factors that could cause or contribute to such differences include, but are not limited to, those described below and elsewhere in this presentation. Please note that the risks described below are not exhaustive, and other risks not discussed herein may also adversely affect Greenstat, its operations and future prospects. The risk factors the Company is subject to are inter alia: Market risks: General market risks, delayed market introduction of hydrogen vehicles and vessels, lack of industrial customers choosing green hydrogen, lower degree of decentralized energy production than anticipated, lacking or reduced political will to establish early stage markets within hydrogen and local energy. Financial risks: Lack of trust in the financial market due to small size and short history. Capital-intensive production facilities (hydrogen), increase in electricity prices, changes in exchange rates, liquidity risk, financial leverage and ability to service debt, credit risk, change in effective tax rate, increase of interest rates, private ownership limits transparency and access to information. Regulatory risks: Change of industry regulations for electrolysis (standing charge), taxes on hydrogen as a fuel, reduced incentives for hydrogen vehicles FCEV s (today same as for battery vehicles BEV). Change in prosumer tariff/regulations (ability to supply power back into the grid).

30 Making Green Happen