Company Presentation. Thalheim June 6, 2009

Transcription

1 Energie Powering der Tomorrow Zukunft Company Presentation Thalheim June 6, 2009

2 Company profile of Sovello AG: bringing together global know how Sovello AG is a Joint Venture (33.3% each) of: > Evergreen Solar Inc. (Marlboro, MA, USA) > Q-Cells SE (Thalheim, Sachsen-Anhalt) > REC ASA (Oslo, Norwegen) Working together in the PV value chain to further develop the one-of-a-kind String Ribbon products Polysilicon Wafer Solar Cell Modules System Synergetic strategic Silicon supply partner Know-how in cell and module production Know-how in wafer production Know-how in cell production partnerships with founding shareholders 2

3 Silicon to solar module production under one roof STRING-RIBBON -Wafer Multicrystalline Cells Quality Modules > Usage of low-cost / lowenergy granular silicon > Technology licensed from Evergreen Solar > Cell efficiency of 15% > Roadmap for increase to >17% > Up to 210Wp > Modul efficiency >13% > Very good tolerances > High degree of automation Advantages from integrated production > Integrated production allows very short cycle times from silicon to module > Knowledge of process parameters and of interdependency within process allows for continuous improvement > High degree of flexibility and quick reaction to customer demand and quality requirements > Optimum conditions for R&D regarding initiation and assessment of quality-, efficiency and reliability targets > High reliability of products can be achieved 3

4 STRING RIBBON TM solar wafers a key advantage in terms of cost Conventional cast process STRING RIBBON TM solar wafers 1. Production of ingot 1. Pulling of wafer and cutting with laser 2-3 days 2. Sawing of ingots 3. Sawing of cylinders 4. Sawing of wafers 2-3 hours Wafer 5. Cleaning of wafers Wafer Lower production costs due to > Lower silicon usage > No slurry (recycling) > Fewer production steps > Less power consumption 4

5 sustainability and, hence, marketability Carbon footprint and amortization of energy CO2 g/kwh 39,8 48,3 Years 1,4 1,9 2,1 27,9 String Ribbon Multi Mono String Ribbon Multi Mono 1) + 2) Based on South-European climate with an intensity of 1,700 kwh/m 2 p.a. STRING RIBBON solar panels based on EverQ data, including: Si feedstock, wafering, cell production, module assembly (incl. frame), BOS components 5

6 Our product Made in Germany > Best-in-class real-world performance: Leader in TÜV Rhineland 2008 field test (after 6 out of 12 months) > Anti-reflective coated glass, superior partial shading tolerance > 98% of rated power guaranteed for Wp product; 100% guaranteed for Wp product > 5 year workmanship and 25 year power warranty for ultimate peace of mind > Easy installation thanks to torsion-resistant, double-walled module frames and low total module weight > Most sustainable module quickest energy payback compared to products of its kind 6

7 Excellent performance it s real! Leader in TÜV Rhineland 2008 field test* Sovello 190 W p Module * Project Energy Yield 2008 field test of modules from 14 different manufacturers (e.g. BP, Kyocera, REC, Solarworld, Solon, SunTech), results depicted for May 2008, test not finalized yet, TÜV confirmation that Sovello is still in leading position six months into the 12 months test 7

8 Proven ramp-up track record Sovello 1 (Capacity 40 MWp, Investment 65m, 400 Employees) Sovello 2 (Capacity 60 MWp, Investment 115m, 450 Employees) 6 months 3 months 3 months 5 months 5 months 6 months 3 months 6 months 02/ / / / / / / / / /2007 Sovello 3 (Capacity 80 MWp, Investment 150m, 500 Employees) Plant 1 Plant 2 Plant 3 8 months 9 months 4 months 03/ / / /2008 8

9 Operational and financial highlights Milestones Ramp SV1, breakeven on monthly basis Ramp SV2, first FY net profit First positive operating cashflow SV3, attractive basis for further growth turnover 219 m 21% turnover EBITDA margin 139 m 15% turnover EBITDA margin 46 m 6% 50 EMP 500 EMP 1000 EMP 1100 EMP 30 MWp 100 MWp 100 MWp 2005 Plant Plant Plant Plant 1+2 9

10 Our progressive vision Environmental contribution: > Resource efficient technology > Enabling of large-scale solar power generation > Mitigating climate change and protecting the global environment Economic success: > Being profitable to allow for investments in new technologies and growth > Gaining access to capital markets > Achieving grid parity Social commitment: > Creating sustainable and qualified employment oppurtunities > Involvement and participation of employees > Commitment towards region > Initiatives for improving employee satisfaction 10

11 Management Board CEO Dr. Ted Scheidegger > Business Strategy > ICT > Public Relations > Investor Relations COO Jörg Baumheuer CTO Hans-Jörg Axmann CSO Christian Langen Director Finance Dr. Ingolf Weise > Production > SCM > Six Sigma > Projects > Environment, Health & Safety > Engineering > R&D > Project Engineer. > Factory Projects > QM > Sales > Marketing > Business Develop. > Sourcing > Accounting > Controlling > Finance > Risk Management > Grants 11

12 Dr. Ted Scheidegger (50), CEO Born: July, 21, 1958, Calgary, Canada Since July 2008: CEO Sovello AG : Vice President and General Manager, Emerson Retail Solutions Europe, Aachen (Germany) : Managing Director, Invensys Global Services Europe, London (UK) : CFO and Head of Carbon & Energy BU, Precious Woods Group, Zurich (Switzerland) : Managing Director, Invensys Energy Systems, Frankfurt/Main (Germany) : CFO and Head of Business Development, Hawker Traction Systems, Brussels (Belgium) : Vice President and CFO, Siemens Solar Industries, Camarillo, California (USA) : Controlling and Strategy Consultant, Siemens AG, Montreal (Canada) and Munich (Germany) 1984: Doctorate in Industrial Business Administration (University of Kiel, Germany) 1980: Degree in Computer Science and Business Administration (University of Vienna, Austria) 12

13 Hans-Jörg Axmann (39), CTO Born: March, 18, 1970, Erlangen, Germany Since Dec. 2007: CTO Sovello AG : Manager Wafer Fab, Manager Operation Front End and Manager Engineering, EverQ GmbH, Thalheim (Germany) : Manager Production Crystals, Schott ML GmbH/ SCHOTT Lithotec AG, Jena (Germany) 1999: Degree in Materials Science Engineering (University of Erlangen-Nuremberg, Germany) 13

14 Jörg Baumheuer (49), COO Born: August, 25, 1959, Hof, Germany Since March 2008: COO Sovello AG : Plant Manager, FAURECIA, Bad Abbach and Leipzig (Germany) and Banbury (UK) : Plant Manager, GKN, Bad Brückenau (Germany) : Plant Manager, INA Schaeffler, Spartanburg, S.C. (USA) : Manufacturing Manager, INA Schaeffler, Herzogenaurach and Ingolstadt (Germany) 1986: Degree in Engineering and Business Administration (University of Lübeck and VWA Munich, Germany) 14

15 Christian Langen (36), CSO Born: July, 14, 1972, Cochem, Germany Since June 2008: Since 2007 CSO Sovello AG Board Director of the European Photovoltaic Industry Association (EPIA) : CSO, Conergy AG, Hamburg (Germany) : Founder and Managing Director, Conergy Australia, Sydney (Australia) : Senior Consultant, Schickler Beratungsgruppe, Hamburg, (Germany) : Co-Founder, COO, IhrPreis AG, Düsseldorf (Germany) 1999: Visiting Researcher, INSEAD, Fontainebleau (France) : Master Degree in Business Adminstration ( Diplomkaufmann ), WHU- Otto Beisheim Graduate School of Management, Vallendar (Germany) 15

16 Dr. Ingolf Weise (39), Finance Director Born: September, 10, 1969, Halle/Salle, Germany Since July 2006: Director Finance, Accounting & Controlling Sovello AG : Director Auditing & Consulting, Deloitte, Leipzig (Germany) 1998: Doctorate in Business Administration 1995: Degree in Business Administration (Martin Luther University Halle-Wittenberg, Germany) 16

17 Contact Sovello AG OT Thalheim Sonnenallee Bitterfeld Wolfen phone: +49(0) [email protected] 17

18 Energie Powering der Tomorrow Zukunft