Structurally Integrated, Ubiquitous Energy Storage. Paper Battery Company PowerWrapper - Strength with Energy

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1 Structurally Integrated, Ubiquitous Energy Storage Paper Battery Company PowerWrapper - Strength with Energy CEO: Shreefal Mehta CTO: Robert Miller

2 Structurally Integrated Ubiquitous Storage Changing the way energy is packaged and managed Large opportunity on the grid with a disruptive price model Get to cash flow positive with early entry markets Develop and sell early product demo kits to raise OEM interest (< 12 month to product launch) Co-development contract signed with medical diagnostics R&D group (18-20 month sales cycle) Discussions with OEMs of printed flexible photovoltaics for integrated solution (10-12 month sales cycle) 2

3 DISTRIBUTED ENERGY STORAGE FOR GRID APPLICATIONS

4 Market Driven Adoption of Distributed Storage Massive storage needed for large scale integration of renewables - Gwatts and $Billions over next 15 years Multiple applications and benefits best captured when storage is close to usage customer-sited, distributed networks Capital cost and siting are major hurdles for batteries today GWatts 100 s MWatts 10 s MWatts Network scale effect Customer-owned market driven model Utility-owned storage - regulated cost models. Diminishing returns 4

5 Disruptive model to clear hurdle of cost of storage New disruptive model possible by the invention of the PowerWrapper as a structural sheet material that can store energy Cost of premium structural sheet amortized over life of structure/mortgage Selection driven by societal externalities and market forces savings and revenue stream possible from energy market participation Roofing Walls Shingles Underlayment Wall cavity (insulation) Sheathing Rolled out as a sheet below sheathing/underlayment or installed as panels between studs before insulation Wallboard Frame Siding Moisture barrier Sheathing 5

6 Structural Sheet - PowerWrapper Technology Novel IP platform nanoscale bonding mechanism between components and stress management, scalable architecture storage technology agnostic Strength among components with high energy capacity creates integrated standalone storage sheet without need of pressure of rigid can Supercapacitor technology integrated for long cycle life, packaging efficiency gives higher energy density, higher voltage Entirely print formed from particles, high speed roll to roll processing of scalable sheets. Lower cost of production. Currently making alpha prototypes- active printed devices 6

7 Lifetime Ownership Cost- PowerWrapper vs battery Parameter PowerWrapper Li-Ion Battery Footprint Siting / safety /environmental issues Safe CapEx for 2 kwhr system Cost spread over cycle life (maintenance cost not included) Not space invasive with scale Unlikely Yes no runaway reactions possible Space invasive, scales with capacity Likely No $8,000 ($4,000/kWhr)* $1,400 ($700/kWhr) $8,000/100,000 = $0.08/cycle at ~18 yrs (deep discharge cycles) $1,400/1,000 = $1.4 /cycle at ~3yrs; $8.4/cycle at ~18 yrs w replacement * Target for GEN2 product (2015) 7

8 Price - Performance Objectives Assumes: 11-layer integration with full area utilization (like current builds) Projected Retail Price, $/m^ Gen 1 S-cap l Price, $-m^2/wh IP 3 & 4 Or hybrid technology infusion < $2-m^2/Wh Time, yrs Gen 2/3 $80/m^ Projected Performance, Wh/m^2 $40/m^ Time, yrs main-stream building materials 8

9 Platform Technology Commercialization Strategy TECHNLOGY PLATFORM Limited feature set GEN1 Longer life, lower cost, flexible, fault tolerant GEN 2 15 cm wide, 3 device layers >10 Whr/m2 R2R processed 1-11 device layers/sheet 1-3 stacked sheets Flexible, fault tolerant R2R processed, 15 wide High voltage configurations Safety, flexibility, long life, Fault tolerant MARKETS 2011 E-Tape roll with kits for early adopter markets early revenues+oem interest Co-packaged Integrated with Flexible printed PV Portable power, non grid applications Medical Diagnostics Sensors Flexible printed PV BIPV, remote power Applications Grid level application Building integrated Energy storage OEM feedback and selection! Transportation 9

10 Current status and accomplishments Fully print-formed alpha prototype in development Projected goal of Whr/m2 for beta prototype, supported by current prototypes R&D prototype development contract signed with medical device R&D company ($125,000) NYSERDA contract nearing completion ($250,000) Seed funding from angels and Angel Fund (>$1M in two rounds) 10

11 EARLY ENTRY MARKETS MEDICAL DIAGNOSTICS AND FLEXIBLE PRINTED PHOTOVOLTAICS

12 Combination of performance and physical attributes is a strong competitive advantage 3-48V VOLTS IN A THIN (<2 mm) SCALABLE PACKAGE Pack of 18 cans needed to get 48V 18 Cap-XX product (ea 1.2mm thick) to get 48 V 12

13 Wireless sensor patches for patient monitoring Need longer lasting device wireless pulses drain battery rapidly High power thin and flexible storage device integrated into sensor patch for wireless transmission pulses - longer lasting product $125K R&D contract for prototyping signed with medical device R&D company spinout of largest medical diagnostic company >$6M revenue stream potential in 2014 Competition Wireless Diagnostic Sensor Devices Thin film primary batteries with low power are complementary (Solicore, Enfucell). High power device Cap-XX inflexible and too thick (1.2mm). IPS device closest competitor not stretchable with patch dimension. 13

14 Medical Portable Diagnostic Devices Mobile diagnostic devices - handheld Point of Care (POC) devices Lack of reliability of batteries leads to productivity loss, delays in ER. Reduction in POC devices weight and size desirable Reliable Green Solution Replace lead-acid battery ($150 battery, POC device $3000) with smaller, lower energy, fast recharge storage device PowerWrapper (GEN1) always ready, never replace battery, lower total cost of ownership, reduced maintenance costs, form factor gives smaller device Sales cycle 18 months with short FDA - 510K process 14

15 Significant Opportunity: Off Grid Markets for Flex PV Power anywhere Microelectronics, sensors Consumer Electronics Portable power Defense Applications Smart Fabrics, Promotional displays Portable distributed power market estimated >$500M (2012) (Nanomarkets report 2010) Transportation Building Integrated PV (BIPV) 15

16 PBC storage value proposition with Flex PV FORM FIT Co-packaged, flexible, thin (< 1mm) and scales with the PV module Reduced overall weight with common packaging FUNCTIONAL FIT 12-24V integrated interconnects + Flexibility Cycle life match to 2-4 year application (life of PV module) Reduce internal circuitry (gap fill-in for shaded cells, common output) Level output from PV module, deliver pulse power, time shift energy Use Cases / Applications: Large flexible displays for short time-shifting and pulse power Wireless sensors, actuators for intermittent high pulse power Large area flexible fabric-integrated PV tents, solar blankets Increased efficiency in low light usage 16

17 PowerWrapper GEN1 Early Prove-out Markets Interest confirmed with 2 leading organic PV companies We want to have your product integrated into our production line; there are multiple applications that will benefit Emerging application needs - intermittent power pulses, increased efficiency at low light E.g. remote sensors, window shutters, actuators, controller,. $10-$100/Watt premium pricing for flexible PV sheets; cost window for storage dependent on application Estimated revenue potential for storage >$10M in

18 Advantage Over Other Storage for Flexible PV Storage unit Flexible High voltage in single packaging Thin film printed batteries Scalable to size of PV sheet as single unit Long cycle life Y N N Typical 500 cycles (IPS >10K) Thin rigid supercaps Coin cell batteries Lithium ion packs Power Wrapper N N N > 100,000 cycles N N N NA N N? 800 cycles Y Y Y Y > 10K cycles 18

19 Management CEO - Shreefal Mehta PhD MBA; Successful entrepreneur. CTO Robert Miller PhD; Materials Physicist, Inventor on core patents in inkjet and fuel cells CFO: Dave Waldek, ex-cfo for Plug Power (NASDAQ: PLUG), MTI Next hires: Product Manager, Business development, Head of engineering Corporate Advisory Board Electronics industry (Ex-President Oki, Ex-Partner at Redwood ventures) Marketing and Sales (ex-vp of Marketing and Sales, Research In Motion) Battery Industry (ex-coo Valence Technology, Laptop group at Dell, IBM) Breakthrough X-Ray Company founder CEO (successful entrepreneur, XOS) Founding Scientific Advisory Board ranked top scientists in world Sci-Am P. Ajayan (inventor, nanomaterials expert, top 50 Scientists in the world, Sci-Am award 2006) R. Linhardt (inventor, carbohydrate chemist, top 10 scientists in the world, Sci-Am award 2009) 19

20 Financing and Use of Funds $6M Series A Venture round to mid-2012 Milestones: OEM identified, beta prototype and pilot line modules established ($3M) Sales of GEN1 device from pilot line ($3M) Key hires: Product manager (2010) EE, develop engineering team and application space Head of Engineering (2011) Business development (2010) for grants, firm up supply chain etc Sage- INVEST Incubation Building Aim for positive cash flow positive by 2015 ( =investment in GEN2). Our Lab 20

21 Summary Strong value proposition of novel technology platform Large market potential change the world of energy storage Earn as we learn rapid commercialization of first product Right startup team in place delivering results, momentum 45 Ferry St Troy NY Fax: (518) Cell: (518)

22 THANK YOU 22