Annual General Meeting 1 November 4, 2019
Forward Looking Statements Some of the information provided in this presentation constitutes "forward-looking information" within the meaning of applicable securities legislation. Specific forward-looking information in this presentation includes statements regarding anticipated financial and operating results, the future of residential and commercial energy storage in the power industry, the potential value of the Company's addressable market, the value of the Company's energy storage inverter, anticipated revenue growth and potential, the anticipated size of the Company's market share, anticipated demand for solar energy and power conversion, and anticipated timing and outcome of potential strategic transactions. Forward-looking statements reflect the Company's current expectations as to future events and are based on information presently available. Forward-looking statements are not guarantees of the Company's future performance and involve known and unknown risks, uncertainties and assumptions that may cause actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward- looking statements. These risks, uncertainties and assumptions include, but are not limited to: risks associated with international operations such as political, economic and other uncertainties; the ability of the Company to raise additional capital on acceptable terms or at all; fluctuations in market value for energy storage power conversion; uncertainty in the Company's ability to develop relationships with other companies; and uncertainty with regards to a strategic transaction. Consequently, no representation can be, or is being, made with respect to accuracy of the projections or the ability of the Company to achieve the projected results. You should not place undue reliance on the forward-looking statements contained in this presentation. The Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. 2
Eguana – Empowering a Revolution ➢ Leading design and manufacturer of grid interactive energy storage solutions ➢ Globally recognized, certified and patented with performance and cost advantages for residential and commercial markets ➢ Partnered and fully integrated with global battery leader LG Chem ➢ Exclusive partnership with Hanwha Q Cells, Europe’s leading PV panel producer ➢ Mercedes Benz Energy tested and endorsed “ We ran the Eguana through 6 “Their technology leadership and product “The addition of the Eguana Enduro months of intense testing to ensure platform is proven with thousands of units to our Q.HOME package will allow us deployed in the global market.” reliability and functionality” to maintain our leadership position” Gordon Gassmann, CEO Sunghoon Jang, SVP Vincent Lim, Head of Bus.Dev. Mercedes Benz Energy LG Chem Q Cells 3
Eguana – Decades of Experience 2013- 2015 2018 – 2019 • Launched Bi-Direx power • Launched Evolve, Elevate and Enduro – fully integrated energy control system for grid storage systems worldwide interactive energy storage • Signed European exclusive private devices in Germany label deal for Enduro with Hanwha Q Cells • Delivered over 5,000 Bi-Direx systems into growing German • Signed contract with South Australian Government for Home energy storage market Battery Scheme • Introduced “AC Battery”, fully • Partnered with Simply Energy for Australian VPP integrated power control solution with LG Chem battery • Completed standardized onboarding process, trained over technology 400 installers/dealer partners to be Eguana certified 2002 – 2012 2016 – 2017 • Developed high efficiency low voltage inverters for grid • Developed fully integrated Home Battery interactive fuel cells system for Mercedes Benz Energy Developed and demonstrated • Li-Io battery storage platform • Established leadership position in Hawaii for US military with AC Battery • Commercialized PCS platform in distributed solar PV • Launched Australian AC Battery applications • Patented • Auto Recovery Control • Pre Charge Circuitry and Control • Output Control for AC Coupled Systems • Seamless Transition Between Control Modes 4
Business Model Transition 2016 - 2019 2016-2017: OEM Model 2018-2019: Eguana Branded MBE exits stationary ➢ Private label strategy ➢ Developed Eguana branded storage market solutions for direct installer sales ➢ Utilize EMS partners as sales channels ➢ Expand sales team in USA, Europe, and Australia ➢ Developed fully integrated Home Battery System for ➢ Launch factory assembled, fully MBE endorses Eguana Mercedes Benz Energy for integrated storage solutions global distribution under Mercedes Brand ➢ Partnered with Europe’s largest solar installer Q CELLS 5
F2019 Commercial Strategy Recap – Boots on the Ground ➢ Sales and technical sales growth in Europe, USA, and Australia ➢ USA outreach program – Convert MBE distribution pipeline ➢ Utilize MBE endorsement, engineering report and LG Chem relationship to accelerate global brand building ➢ 30% cost reduction on the Evolve 6
2019 Boots on the Ground Outcomes ➢ North America • Dedicated sales team in California, +65 new partners, +400 Eguana trained personnel Distribution partnership with +10 CED Greentech outlets nationally • T op two solar players in Puerto Rico (Maximo / New Solar PR) • Residential & CommercialVPP in Massachusetts and Maine • Hawaii New England Georgia Puerto Rico 7
2019 Boots on the Ground Outcomes ➢ Australia • Opened Australia Pty in Adelaide, South Australia • South Australian government contract for Home Battery Scheme • Simply Energy partnership for residentialVirtual Power Plant 15 dealer, distributor, installer partners • Melbourne Adelaide Brisbane Wingfield 8
2019 Boots on the Ground Outcomes ➢ Europe • Opened Eguana GmbH in Dresden, Germany Completed multi year private label agreement with Hanwha Q CELLS • Supported Q CELLS expansion with Enduro (UK, Ireland, Scandinavia) • • Q CELLS estimates +17,000 new solar installations / year (Germany avg 50% attach rate) United Kingdom Amsterdam Ireland 9
Q CELLS – Europe’s Solar Leader 10
2019 Boots on the Ground Outcomes ➢ Research and Development Introduced Q.Home+, Evolve Hub, Elevate-U • • 2019 Product certifications Enduro – Germany, United Kingdom, Ireland, Scandanavia,Australia (pending) • Evolve – North America,Australia, Europe • • Elevate – North America,Australia and Europe (pending) Completed Evolve 2.0 concepts and designs • Completed Evolve Hub (reduces AC coupled system interconnection costs) • 11
Partner and Installer Training – Keys to Success 12
Global Exposure – Brand Building 13
Eguana - Global Reach 14
Eguana’s Market Opportunity Annual Residential Energy Storage Market Size (US$M) Source: GTM Research $3,500 $3,000 CAGR: 44% $2,500 $2,000 $1,500 $1,000 $500 $- 2012 2013 2014 2015 2016 2017 2018E 2019E 2020E 2021E 2022E 2023E USA Australia Europe 15
2020 – Focused Growth ! ➢ Complete contract manufacturing transition Enduro November 2019 / Evolve NA February 2020 / Evolve Aus March 2020) • ➢ Global after sales service and support program ➢ New company branding, marketing, investor interaction, and website ➢ Introduce Evolve 2.0 to global market ➢ Execute 20% cost reduction plan across all products Planning phase complete for all products • • Q.Home + Phase 1 Q4 FY’19 / Q.Home+ Phase 11 Q1 FY’20 • Evolve Hub Q1 FY’20 ➢ Cashflow positive run rate by Q3 16
Focused Growth Hawaii S. California Europe S. Australia Primary HEC CED Hanwha Q Cells ACSW Relationship 5 years 1 year 1 year 1 year 2020 Revenue $8 - $11M $3 – $5M $7 - $10M $3 - $5M Learning from 2019 Hawaii Market rules have stabilized. Zero export market is unattractive for solar lease model • • 2020 Focus : Eguana assembly and support facility on Oahu to support HEC’s growth Southern California • Installations split between T esla and SunRun lease model, Sonnen has fatigued installers and distributors 2020 Focus: Build confidence with CED through dealer success and expand through word of mouth • Europe • German market is mature and difficult to penetrate without brand recognition • 2020 Focus: Support Hanwha’s growth in Europe S. Australia SA Government has mismanaged HBS program, keeping solar installers on the sidelines • • 2020 Focus: Support high value customers and VPPs in SA 17
18
19
20
21
22
23
24
25
Development Update 26 26
Recommend
More recommend
